“The case studies were supported with real life problems and offered an exciting environment to challenge my own experience and test my skills.”
Dubai, United Arab Emirates, 20 September 2018, (AETOSWire): Time is a scarce resource for busy people, and for Royal Dutch Shell’s Group Portfolio Advisor Gokhan Tekiner, it helps to save as much of it as he can while pursuing the Chartered Institute of Management Accountants (CIMA) professional qualification, all while juggling a business role and a family life which demand a lot of him.
“CIMA’s Corporate Business Leaders Challenge (CBLC) and Global C-suite Business & Finance Programme offered a rich curriculum and practical tools to recognise and solve common finance and business problems,” says 35-year-old Gokhan, who is coming to his 10th year at Shell. “Not only was the material relevant to me for my day-to-day work, but the CBLC offered a busy, more experienced professional like myself a fast-track opportunity to attain the Chartered Global Management Accountant (CGMA) designation and complement my business and leadership skills.”
Gokhan began his career at Shell in commerce and finance before joining company’s Group Strategy & Portfolio team. In his current role, he supports Shell’s executive committee and board in shaping the company’s future aspired portfolio, which will chart Shell’s direction for the next 50 years in the energy industry. It is timely for him to do the CIMA qualification as the energy industry is undergoing tremendous change, from the society’s push for cleaner energy, to the immense pressure on the energy companies to deliver competitive and sustainable results in a lower oil price environment.
CIMA qualification offered Gokhan an opportunity to build confidence around his capabilities while its CGMA designation will certainly boost his professional standing. “CIMA has an established, well-respected brand name recognised by the company I work for as well as by the wider industry. Compared to other professional finance qualifications, CIMA managed to keep itself relevant, up-to-date and practical, which played a role in my decision to pursue the program.”
He cites the CBLC, which is eligible for professionals with 3 years of relevant experience, as a testament to this relevance. “The case studies that were offered in the challenge were supported with plausible, real-life business problems” Gokhan explains. “Most of these problems resonated with me and I was able relate them to my own experience and skills at a practical level.” Gokhan’s ability was obvious as he became the winner of the final challenge for CBLC with his colleague team partner. Clearing the CBLC hurdle on his first try enabled him to go straight to the Strategic Case Study level of the CIMA qualification, the Global C-suite Business & Finance Programme, which he also passed.
Along with the real-life problems, participants of the CBLC were assigned coaches to provide support while they were handling the challenge. During the challenge, Gokhan was not the only one who brought work experience to the table. The other participants were also people with a wealth of knowledge from different industries, which introduced different perspectives to the programme.
“What I saw in the Challenge was a group of talented business leaders who were comfortable stating and defending their ideas,” says Gokhan. “We had people from large multinationals as well as startups, and the way everyone approached a given business problem was so varied.” Each team’s presentation was done before an experienced panel of judges comprising corporate world leaders, who role-played as a fictional “Board of Directors” to mimic a real-life scenario.
What were some of his takeaways from his time with the CIMA qualification? “Well, there’s no one road that leads to Rome, and yet there is always a better one.” he laughs. “The final challenge was a great example of how people’s own experience defines their mental framework and approach to problem-solving. Ensuring these dissenting opinions are heard is what stimulates divergent thinking and helps us arrive to a better solution in the end.” It is this exposure that helped Gokhan to reassure the need to surround himself with people of diverse backgrounds and opinions.
Another takeaway for him was how the CIMA qualification taught him to think naturally about various strategic lenses such as stakeholder and competitor analysis. “In my work, we use sophisticated tools to look at the impact of “what if” scenarios on our business and key stakeholders through different lenses. CIMA programme’s constant emphasis on them made utilizing those tools effectively second nature to me. So when I am developing strategic roadmaps, I am already thinking organically about how a given pathway could position our company with respect to our competition and impact our stakeholders – this is a great unit of the programme.”
On a personal level, he speaks a lot about leadership and its relationship with ethics in his current role. What does blending ethics and leadership mean to him? “For me, it means having a clear identity about who you are, understanding your own strengths and limitations, and setting realistic targets,” Gokhan explains. “When we work with ethics, it means no shortcuts, and if you set realistic targets and promote an open and honest culture, your organization will less likely feel the need to take shortcuts. Therefore, good business ethics begins at the leadership level, and flows into the DNA of the company.”
Gokhan takes his own advice on leadership by keeping up continuous self-development, despite his time-consuming role at Shell. “At Shell, we change roles around every 4 years. It is important to keep your skills up-to-date and to always learn,” he says. “The CIMA qualification offers the opportunity for finance professionals to enhance their skills and stay current with the emerging needs and themes of finance management, and it’s a good branding for the individual. For me personally, it was a worthwhile commitment even though I had to complete it in such a short period of time.”
While awaiting to receive his CGMA designation, Gokhan is now looking forward to use the skills and experience that he gained during his time with CIMA to continue his career with Shell. “We are shaping the trajectory of the company in response to the world’s growing demand for more and cleaner energy and our society’s evolving requirements. I am really excited to see what will come in the future,” he concluded.
About The Association
The Association of International Certified Professional Accountants (the Association) is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide. It represents 667,000 members and students in public and management accounting and advocates for the public interest and business sustainability on current and emerging issues. With broad reach, rigor and resources, the Association advances the reputation, employability and quality of CPAs, CGMAs and accounting and finance professionals globally.
The Chartered Institute of Management Accountants (CIMA), founded in 1919, is the world’s leading and largest professional body of management accountants, with members and students operating in 177 countries, working at the heart of business. CIMA members and students work in industry, commerce, and the public sector and not-for-profit organisations. CIMA works closely with employers and sponsors leading-edge research, constantly updating its qualification, professional experience requirements and continuing professional development to ensure it remains the employers’ choice when recruiting financially-trained business leaders.
CGMA is the most widely held management accounting designation in the world. It distinguishes more than 150,000 accounting and finance professionals who have advanced proficiency in finance, operations, strategy and management. In the U.S., the vast majority are also CPAs. The CGMA designation is underpinned by extensive global research to maintain the highest relevance with employers and develop competencies most in demand. CGMAs qualify through rigorous education, exam and experience requirements. They must commit to lifelong education and adhere to a stringent code of ethical conduct. Businesses, governments and nonprofits around the world trust CGMAs to guide critical decisions that drive strong performance.
Issued by The Association of International Certified Professional Accountants (the Association)
* Source: AETOSWire
STAMFORD, Conn.--(BUSINESS WIRE/AETOSWire)-- International Securities Associations & Foundations Management Company (ISAF)
Today the District Court in Rotterdam has ruled in favor of Stichting Petrobras Compensation Foundation (SPCF or Foundation) regarding arguments to establish jurisdiction in the Netherlands for eligible Petrobras investors seeking compensation for losses related to the “Lavo Jato” or “Operation Car Wash” scandal. Also the Court ruled that the arbitration clause in Petrobras’ Articles cannot preclude the SPCF from bringing a claim against Petrobras on behalf of aggrieved Petrobras shareholders.
ISAF congratulates SPCF on this important legal decision and reminds investors that losses from investments in primary shares of Petrobras traded in Brazil on the Brasil Bolsa Balcão S.A. or B3 - Brazil (formerly BM&FBOVESPA) and via linked markets in Europe and also Bonds bought outside the US, will not be compensated under the US $3 billion settlement in the US.
Robert Frome, Chairman of ISAF, commented: “The ruling affirms that Petrobras investors, who were caught by surprise when revelations of corruption and fraud emerged in 2014, will be heard in a legal forum in the Netherlands which has previously dealt with complex collective shareholder litigations.” Frome continued: “The ruling in Rotterdam should be encouraging to investors, who originally believed that their recovery options were limited to arbitration in Brazil, and were thus rightly discouraged by the probable unfavorable outcome for investors in a ‘home court’ jurisdiction for Petrobras.”
Investors who have not already registered claims in the Netherlands are encouraged to contact ISAF now that this critical ruling on jurisdiction has been achieved. Petrobras investors who considered arbitration in Brazil should contact ISAF to register a claim in the Netherlands.
More information about the litigation can be found at www.pbcompensation.com. SPCF appointed International Securities Associations & Foundations Management Company (ISAF) to coordinate all administration with investors, including funding of all litigation costs so investors can participate on a contingency only basis with no upfront cost. More information about ISAF can be found at www.isafmanagement.com
Ras Al Khaimah, United Arab Emirates, January 27, 2018: (AETOS Wire)-The American University of Ras Al Khaimah (AURAK) has signed a cooperation agreement with Wayne State University (WSU) of Detroit, Michigan of the United States, establishing the U.S.-based university into its latest international partner.
The agreement, which was initiated by AURAK’s School of Engineering and the School of Engineering, is centered on a Transfer Student Program in which students can earn college degrees from AURAK and WSU simultaneously.
The Transfer Student program is divided into two phases. In the first phase AURAK students must complete three years of a four-year, pre-approved engineering program with a 3.0 grade point average and/or be in the top quartile during their first three years of studies as well as meet the language proficiency level required by WSU. These students will be allowed to transfer to WSU for phase two to fulfill two years of a pre-approved curriculum. During the first year at WSU, the students will complete sixteen hours of coursework and an undergraduate senior research project. During the second year the students will either complete sixteen hours of coursework or eight hours of course work and eight hours of Master’s Thesis Research project. Upon completion of the program, each student will receive both a Bachelor’s Degree in Engineering from AURAK and a Master’s Degree in Engineering from WSU.
Prof. Hassan Hamdan Al Alkim, President of AURAK, and Prof. Stephen Wilhite, Provost and Vice President of Academic Affairs of AURAK, traveled to Wayne State University and entered into an agreement with Prof. Keith Whitfield, the Provost of Wayne State University along with Prof. Farshad Fotouhi, the Dean of College of Engineering, and Prof. Ambika Mathur, the Dean of Graduate School of WSU.
Both institutions look forward to future years of cooperative program development, continued collaboration, and student success. Prof. Hassan concluded, "In Wayne State University we have a distinguished collegiate associate which will cater to our students with multiple prospects to progress.”
At present AURAK has a range of international partners across Africa, Asia, Europe, and North America, opening a wide spectrum of possibilities to students including exchange and study abroad programs for up to one year, as well as shorter summer sessions.
Innovative technologies with stringent data safety and security capabilities makes Ajman Media City Free Zone a unique investment destination
Ajman, United Arab Emirates, 17 September 2018, (AETOSWire): Ajman Media City Free Zone launches an electronic licensing service to serve and facilitate a global network of partners, representatives and potential investors based in any part of the world.
HE Mahmood Al Hashmi, C.E.O of Ajman Media City Free Zone said: “We are committed to offer “Low investment, High returns and Maximum Comfort” to our potential customers, and partners globally and this feature enhances the ease of doing business as well as eliminates costs and save significant time for everyone.”
“Our latest feature, an electronic system will enable the investors to fulfill all requirements for setting up the business and acquire license in a safe, fast and secure environment.”
“At the same time, we fully understand the importance of creating comfort and trust among our investors. Utilising the latest a triple cryptography system, our electronic system successfully meets and adhere to the most stringent requirements on data security and confidentiality,
The Ajman Media City Free Zone also launched a new ‘electronic agents network’, which allows international representative, business agents and partners all across the globe to be connected with the free zone and offer potential investors the complete set of services electronically.
HE Mahmood Al Hashmi, C.E.O of Ajman Media City Free Zone further said: “Ajman Media City Free Zone remains committed to bringing innovative services and features for the potential investors. By combining the vision of its leadership with a unified digital innovation strategy, the United Arab Emirate has already become one of the leading centre of innovation and start-up ecosystem in the world.”
“Our new electronic facilities will also become a significant step in supporting UAE’s position as a leading investment destination for international investors, innovators and organisations who want to serve this part of the region through innovation and entrepreneurship,” said HE Mahmood Al Hashmi.
* Source: AETOSWire
Organisations set to capitalise on opportunities in the media-telecom value chain
LONDON--(BUSINESS WIRE/AETOSWire)-- IBC, the world’s most influential media, entertainment & technology show, and TM Forum, the industry association driving digital business transformation, have announced the launch of five new Catalyst projects for 2019.
As confirmed at the Digital Transformation World event earlier this year, the two organisations are collaborating to extend the scope of TM Forum’s Catalyst Program specifically to the media-telecoms ecosystem. This will involve connecting with IBC’s expertise, heritage and media relationships across the broadcasting, entertainment and technology industries, which continue to converge.
Today’s announcement further builds on this, with organisations across the media-telecoms value chain now able to submit applications for five new Catalyst projects to solve the challenges posed by the increasing convergence between the media and telecommunications industries. Catalysts are proof-of-concept projects developed collaboratively, bringing together companies large and small to drive technical innovation and create solutions to common challenges.
These five new Catalyst projects will see broadcasters, operators, software vendors and other suppliers across the telecoms and media industries work together through the collaboration with IBC in order to quickly capitalise on new opportunities in a rapidly evolving digital world. Each Catalyst team will build a working proof-of-concept solution to a specific industry challenge and the successful projects will be showcased at IBC2019 and Digital Transformation World 2019.
Examples of where these collaborations could focus include areas such as using 5G powered drones for enhancing the viewing experience during live sporting events; utilising blockchain to support the media supply chain in ways such as royalty tracking and collection; tackling piracy and the unlawful use of unlicensed streaming boxes; and developing an open API to securely and anonymously monitor advertising performance in digital media. The brand new Telco and Media Innovation Forum at IBC2018 (13-18 September) will see leading players in the media-telecoms ecosystem come together and kick-start discussions on proof-of-concept projects such as these.
“IBC is pleased to be able to help facilitate the convergence that we are seeing throughout the industry,” said Michael Crimp, CEO, IBC. “With our unique position within the media community, and now our collaboration with the TM Forum, we are now fully equipped to facilitate long-term solutions to the most vexing problems facing the telecoms and media industries today.”
“Media is an increasingly important sector for our global membership as the boundaries between telecoms and media continue to blur,” said Nik Willetts, CEO, TM Forum. “The digital age is changing the landscape for creation, distribution and consumption of media, and we believe that through industry collaboration we can drive a new wave of innovation and growth. We’re delighted to collaborate with IBC, and to extend the Catalyst model to explore the convergence of telecoms and broadcasting.”
The development of the Catalyst program with IBC is part of TM Forum’s commitment to extend its Catalyst model to vertical markets undergoing digital transformation where the communications industry can play a vital part.
Benefits of joining a Catalyst project include:
Multiplication of resources to accelerate R&D
Catalysts serve as extensions to R&D departments, where resources are pooled by participating organisations. With an R&D cycle considerably faster than most in-house initiatives, innovation is achieved faster, and at lower cost due to the sharing of resources and effort. TM Forum manages each of these projects ensuring structured programs are in place, adhered to by all participants.
Creativity from a multi-company team
Working with some of the brightest minds from outside their own organisation helps companies get fresh perspectives into their project.
Participants learn how the solution works with others in the industry in a hands-on environment. Suppliers receive real requirements and valuable feedback from the Catalyst ‘Champions’ and industry peers.
‘Trust’ - a safe place to innovate
Participants can explore new concepts without needing to expend time and energy to form commercial relationships - TM Forum takes care of contracts.
Notes to Editors:
For more information about IBC2018 visit: show.ibc.org
IBC is the world’s most influential media, entertainment and technology show, attracting 57,000+ attendees from more than 170 countries and combining a highly respected and peer-reviewed conference with an exhibition that showcases 1,700+ leading industry suppliers of state-of-the-art technology. In addition to the world-class exhibition and conference, IBC also encompasses the IBC Daily, IBCTV and IBC365.
IBC365 provides year-round insight and opinion into the hot topics and key trends from leading industry journalists, along with insightful whitepapers, peer reviewed technical papers, highly engaging webinars and an expansive video library.
13 - 17 September 2018
14 - 18 September 2018
For more information about IBC2018 visit: show.ibc.org/
About TM Forum
TM Forum is an association of over 850 member companies that generate US$2 trillion in revenue and serve five billion customers across 180 countries. We drive collaboration and collective problem-solving to maximize the business success of communication and digital service providers and their ecosystem of suppliers around the world. Today, our focus is on supporting members as they navigate their unique digital transformation journeys, providing practical and proven assets and tools to accelerate execution and platforms to facilitate collaborative problem solving and innovation. Learn more at www.tmforum.org.
In a special ceremony marking project handover in presence of Al Mazaya team, project’s chief contractor, service management company
Al Hadhrami: “We are proud of achieving this milestone in record time as per set plan and specs.”
Muscat: 15 September 2018
Al Mazaya Holding officially received Phase I of its Mazaya Residence, one of the top integrated projects in the heart of Muscat, from the chief contractor of the flagship project on Sunday August9, 2018.
A ceremony was held marking the occasion in the presence of Mr. Jassim Al Hadhrami, Al Mazaya representative in Oman, a number of company team members, representatives of the project’s contractor and members of Bait Al Osool, the company appointed to manage the project.
The completion of Phase I of Mazaya Residence adds a new feather to the company's cap in areas of residential developments. The first of its kind in Oman, the accomplishment of the project in record time as per the set plan corroborates the company’s credibility and commitment to applying international standards and best practices in all its business portfolios across the region.
Mazaya Residence is a modern, integrated lifestyle project that is suitable for all segments of society. The best design criteria have been followed in terms of optimum utilisation of spaces. The project features diverse amenities and services, including swimming pools, tennis courts, fully equipped health clubs for both genders, kids’ play areas, round-the-clock CCTV monitoring, cleaning and maintenance services, and underground parking facilities.
From day one till its completion, Al Mazaya Holding has been pursuing the fulfilment of the housing needs of Omani citizens, in particular, and Gulf nationals, in general, in terms of quality building material, premium execution and high-end finishes to ensure the project has been ultimately handed over to its owners in the best possible form.
The ceremony included the contractor’s delivery of all the project’s structural drawings and layouts to the representative of Al Mazaya in Muscat as well as all the identification guides for the entire project and its attached amenities. This was followed by a tour of the project and the service facilities allocated to its residents.
Al Mazaya is currently working with officials and governmental authorities concerned in Muscat to establish an association of owners for Mazaya Residence with a view to following up the management of the project and ensuring an optimum living environment for all the residents.
Al Mazaya has signed a project management contract with Bait Al Osool to provide integrated management services through a highly-qualified technical team to fulfil the various needs of the owners, tenants and visitors.
Bait Al Osool will provide 24/7 security and cleaning services. The company will be in charge of maintaining the aesthetic quality of the project both internally and externally, as well as providing administrative, technical and maintenance support services for all apartments and facilities, including swimming pools, tennis courts, fully equipped health clubs for both genders, kids’ play areas, round-the-clock CCTV monitoring, cleaning and maintenance, along with the underground parking facilities.
“We are very pleased to have completed the first phase of the Mazaya Residence project in record time as per the set plan and specifications. We have fulfilled all our promises in accordance with the highest standards and criteria followed in the real estate development and construction industry," said Jasim Al Hadhrami, Marketing & Sales Officer at Al Mazaya Real Estate Development.
Al Hadhrami, stressed that Al Mazaya Holding is currently working with the Oman’s Ministry of Housing to transfer ownership documents to the project’s new owners besides providing each buyer with an integrated guide for the specifications of the project’s units and facilities and ways of communicating with the property management company, in compliance with relevant laws and regulations in the Sultanate.
Earlier, Al Mazaya announced the completion of the project’s Phase I which is now ready for delivery to its owners. It sprawls over 6,614 square metres and consists of 120 apartments in different spaces in addition to 28 shops.
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