“Finance - Business Life Lebanon” plus 4 more

Finance - Business Life Lebanon
Extra hot time helps 2nd Harvest Food Bank - Manteca Bulletin
Comments about: Obama loans $2 billion to Brazilian oil company? - MaineToday.com
Shining Stars - Honolulu Star-Bulletin
Business roundup: Global Contact Services promotes three officers - Salisbury Post

Posted: 30 Aug 2009 06:01 AM PDT

Oman Arab Bank has an active presence in the Sultanate of Oman ever since it was established on 1st October, 1984 as a joint closed stock company. The bank started operations after acquiring the branches of Arab Bank Limited, Jordan that existed in the Sultanate since 1973. In 1992, Oman Arab Bank expanded its operations by acquiring all branches of Omani European Bank and then merged together in 1994. Oman Arab Bank's principal shareholders are Oman International Development and Investment Company (OMINVEST) with 51% share and Arab Bank Limited with a 49% share holding.

The bank also actively contributes to the major development in industrial and infrastructure projects in the Sultanate of Oman and is an active provider of both retail and investment banking products and services.

Financing Projects and Providing Services

The bank has kept its position as a leader in financing projects in various sectors such as infrastructure, industrial and petrochemical. It has supported many companies such as Oman Shipping Company's vessel financing, and the expansion of Oman Cement Company.

It has also provided banking services for several companies in different projects such as Wastewater Treatment Station Project in Seeb, Duqum Port project (phase 2) and Dry Dock, Power and Water Desalination Station in Barka II, in additional to various infrastructure, industrial, and services projects.

Main Financial Indicators

The bank continue to achieved positive results such as a 26% growth in profits (RO 24.6 million as compared to RO 19.4 million), 39% growth in net loans and advances (RO 539 million compared to RO 389 million), and 15% growth in customer deposits (RO 611 million as compared to RO 533 million).

Total Shareholders' Funds as at 31st December, 2008 was RO 110 million as compared to RO 88 million in the previous year. Return on Total Assets was 3.47%. As a result of the prudent lending policy, the non-performing loans reduced to 1.6% out of the total loans and the provision coverage increased to 169% of the non-performing loans.

Branches and Offices

Throughout the current year and last year, the bank has opened new branches in Shatti Al Qurum, Al Tarif in Sohar, Bowshar, Mabelah, Sumail, Nizwa Hospital and Quriyat. The bank has a total of 53 branches and offices across the Sultanate.

Investment Banking

Given the financial crisis which resulted in the bankruptcy of investment companies and banks globally, our Investment Management Group is still in the forefront in terms of developing investment products and services.

The investment group did not show negative effects, but instead of that it gained a higher share in the local trade and achieved 4th position in Muscat Securities Market in transactions by end of April 2009.

At the beginning of 2009, it has been agreed to establish the Investment stabilization Fund with a capital of RO 150 million where the government contributed 60%, while 40% was distributed on pension funds and the private sector represented by banks, investment companies, and securities companies. Our investment group (the investment banking arm of Oman Arab Bank) has been assigned as an investment manager to manage the fund's assets in partnership with another local bank.

During the first half of this year, the bank will announce establishing Oman Al-Arabi Fund that will be completely managed by us. The fund will be investing 75% in MSM, and 25% in the GCC markets.

Marketing and Developing Banking Services

The bank is always striving to provide the best banking services and products for its clients to meet their financial needs. Some of the new initiatives launched by the bank are Markabati Auto Loan, Al Himaya Car Insurance, and Al Mustaqbal Education Loan. In addition, to the latest services launched by the bank such as Tawasul SMS Banking and Internet Banking.

Omanisation

The bank's management gives prime importance to Omanisation as it focuses on developing the human resources.

This has led the bank to be the first bank to achieve the required Omanisation percentage of 90% in early 1996. The Omanisation percentage in the bank is now 92.19%.

E-Banking Services

Oman Arab Bank has worked relentlessly to cope with the rapid development in the e-services field.

The bank has also become a leader in providing high quality services through e-channels that enable the client to get the services without time or place constraints.

One can clearly observe the rapid progress of Oman Arab Bank in the e-services field in public and private projects across Oman. It demonstrates the bank's commitment in developing its relationship with different sectors in the e-services field and e-payment.

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Extra hot time helps 2nd Harvest Food Bank - Manteca Bulletin

Posted: 30 Aug 2009 02:48 AM PDT

If you think Saturday's 104 degrees was hot, think again.

The real heat was inside the Manteca Senior Center where culinary temperatures, along with a huge throng of chili fans, all conspired to rival Mother Nature's summer sizzle.

The 30 palate-pleasing, mouth-watering and tear-jerking chili concoctions were the afternoon's major attraction. And it was all for a good cause, with the Second Harvest Food Bank of Manteca as the beneficiary of the day's financial haul. The total money raised from this first-ever fund-raiser for the nonprofit organization was not available as of press time. However, the evening's excitement rose to the nth degree with the announcement that PG&E pledged to donate a $10 match for every ticket drawing sold.

Between the cook-off entrants and the taste-testers, it was hard to tell which group was more excited. To be sure, the cooks had a smorgasbord of fun. The Brotherhood Team – that's the Lathrop-Manteca Fire Union group – represented by Kevin Anderson and Shawn Wooten brought to the competition one of the hottest, if not the hottest dish of the day. Mixed in with their 12 pounds of ground beef, beans and spice blend were four different kinds of peppers: 40 habaneros, 15 Anaheims, 12 chipotle, and 12 guallio (pronounced wah-hee-yoh).

"I've used this recipe for the past four years at the Lathrop Days and Pumpkin Fair. I've also used it for the K-9 trials when they asked us to cook," said Anderson.

Manteca City Councilman Steve DeBrum's chili dish was an original creation with the base recipe pulled off out of a cookbook. Another contestant's dish was a blend of six different recipes he pulled from the Internet combined together.

But Joann Beattie of Agape Villages had, perhaps, the day's easiest recipe.

"I don't have a recipe," she laughed when asked about her chili creation.

"I just throw everything in. I don't measure anything," she said with relish.

The youngest taste-testers were not even old enough to walk or run. Cashton Mooney, 21 months, enjoyed the non-spicy dishes. He was accompanied to the event by her parents, Kim and Richard of Modesto. They attended the event to cheer for Debbie Tarr, owner of Grocery Outlet of Manteca where Kim Mooney works.

Another young guest was Ava Beth Benneth, 18 months, who came to cook-off with her parents and grandma Helen Bennett and brother Liam, 2. Grandmother Bennett said they found out about the chili-cooking fest from their church, Crossroads Grace Community.

"We wanted to come and support (the fund-raiser) and have fun," she said.

Each entry was numbered according to its degree of spiciness. The Brotherhood Team's dish burned its way up the spicy totem pole.

"It's really hot. Pretty good but really hot," pronounced taste-tester Marco Getty who was part of the Thor's Chili group. "If you like hot stuff, this is pretty good."

Three cash prizes were given away to the top three contestants: $75, $150 and $300, for third to first prizes, respectively.

Judges were Theresa English-Soto, Jeff Zellner, Connie Reed, Kirk Dahl, and Veronica DeBrum.

Other highlights of the chili cook-off were a silent auction, raffle drawing with many big-ticket items given away to lucky winners, and a bake sale sponsored by a group of Dell Webb residents who also volunteered their services during the event by selling raffle tickets to the visitors.

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Comments about: Obama loans $2 billion to Brazilian oil company? - MaineToday.com

Posted: 30 Aug 2009 07:05 AM PDT

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Shining Stars - Honolulu Star-Bulletin

Posted: 30 Aug 2009 04:35 AM PDT

» Georgette Sakumoto, administrative officer for the Office of Research Services at the University of Hawaii, received the 2009 Distinguished Service Award from the National Council of University Research Administration.

» Bank of Hawaii's Maui Region raised $6,400 in fundraising efforts, which was matched with $5,000 from the bank's foundation. A total of $11,400 was donated to Feed My Sheep, a mobile food program serving Haiku, Honokawai, Lahaina and Wailuku.

"Shining Stars" runs every Sunday.

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Business roundup: Global Contact Services promotes three officers - Salisbury Post

Posted: 30 Aug 2009 01:22 AM PDT

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Global Contact Services has named a chief operating officer and two vice presidents at its corporate headquarters in Salisbury, according to Greg Alcorn, chief executive officer.

Bryan Overcash, who has been with the business since its inception, has been promoted to chief operating officer. Previously chief financial officer, he is now responsible for the financial and operational activity of Global Contact Services and associated companies. A certified public accountant, he has a bachelor's degree in economics from Davidson College and a master's degree in accounting from Kenan-Flagler Business School, UNC-Chapel Hill. He and his wife, Meredith, and their three children live in Salisbury.

Mark Petty, previously controller, has been promoted to vice president of finance. He has been with the company for three years and is now responsible for all financial reporting and accounting activities. A certified public accountant, he has a bachelor's degree in accounting from Bob Jones University and an MBA from Florida Southern College. He and his wife, Kim, and two children live in Salisbury.

Frank Camp has been promoted to senior vice president. Previously, he served as vice president of client services. He now oversees client services and client application development teams, including day-to-day program managers, script development, quality control and programming. Camp, a resident of Reading, Pa., is a graduate of Berry College and is active in several charitable organizations.

Food Lion introduces GreenChill

Food Lion has received the Distinguished Partner Award from the Environmental Protection Agency during an awards ceremony at the Food Marketing Institute's Sustainability Summit in San Francisco. Food Lion was recognized for its commitment to deploying Advanced Refrigeration technology at new stores.

The GreenChill Partnership is an Environmental Protection Agency cooperative alliance with the supermarket industry to promote the reduction of ozone-depleting and greenhouse gas refrigerant emissions. Food Lion was one of the first grocers to voluntarily commit to the agency's GreenChill advanced refrigeration partnership, an initiative where companies pledge to go above and beyond regulatory requirements in protecting the ozone layer and reducing greenhouse gas emissions. As a GreenChill partner, Food Lion has committed to making sure all new and remodeled stores will be ozone-friendly; establishing an emissions inventory, which will be used to set emissions reduction targets; and assessing the performance of advanced technologies in its stores through industry and government research initiatives.

Food Lion has also incorporated advanced refrigeration systems at certain stores. Three stores have incorporated ozone-friendly product refrigeration systems, which reduce by more then 60 percent the amount of refrigerants needed to keep products cool or frozen. The technology will be used at two stores under construction in Georgia and South Carolina.

Tom's Hairport adds associate

Chrystal Cretin joined Tom's Hairport, a barber shop in Faith.

Cretin has 10 years of experience in the hair industry and specializes in men's barber cuts and fades.

She was trained in a Paul Mitchell Salon in Houston. She is a master colorist.

Tom's Hairport is at 111 N. Main St. in Faith. For more information call 704-279-5881.

Rheumatologist at Rowan Regional

Dr. Stacy D. Kennedy has joined the staff at Rowan Regional Medical Center and Novant Medical Group as a rheumatologist, .

Kennedy will care for patients with rheumatic diseases such as rheumatoid arthritis, lupus, osteoarthritis, gout, psoriatic arthritis and other rheumatic diseases.

Her office, Rowan Rheumatology & Arthritis, is located at 327 Mocksville Ave. at the corner of Grove Street, two blocks from Rowan Regional Medical Center.

After earning a medical degree from the Temple University School of Medicine, Kennedy completed a residency in internal medicine at the University of Maryland. She also completed a fellowship in rheumatology at Duke University. Kennedy holds a master's of business administration from Columbia University.

Lutheran Services ranking

Salisbury-based Lutheran Services for the Aging is ranked 58th on the "AAHSA-Ziegler-100," a national ranking of top not-for-profits providing services to seniors.

Published by the American Association of Homes and Services for the Aging and Ziegler Capital Markets Group, the AAHSA-Ziegler or "AZ" list identifies the 100 largest providers of not-for-profit aging services in the United States.

Lutheran Services for the Aging (LSA) boosted its ranking from 69th to 58th with the addition of its newest ministry, Elms at Tanglewood, a 104-bed assisted living residence in Clemmons.

Ted Goins Jr., president of Lutheran Services for the Aging, says, "At a time when many providers feel they can no longer afford to care for our elders, LSA remains dedicated to its mission to express God's love in Christ to those we serve."

LSA now operates 1,138 senior living units, with affiliates in Rowan, Catawba, Stanly, Forsyth and Buncombe counties.

LSA is also ranked 35th in nursing care beds, 54th in assisted living beds and 89th in independent living units. LSA will add more nursing beds when the construction of a 100-bed nursing home in Wilmington is completed in 2010.

AAHSA is the nation's largest association of not-for-profit aging service providers. Ziegler is the leading underwriter of tax-exempt and not-for-profit financing in the United States.

First Bancorp dividend 8 cents

First Bancorp, parent company of First Bank, has declared a cash dividend of 8 cents per share payable Oct. 23 to shareholders of record as of Sept. 30. That's the same rate declared in the second quarter, but down from the 19 cents per share in the third quarter of 2008.

The Troy-based holding company has total assets of approximately $3.5 billion. First Bank has 98 branches, including one in Salisbury.

National Preparedness Month

Small- to medium-sized businesses are most vulnerable following an emergency, and small businesses represent more than 99 percent of all employers. A national survey of businesses with 2 to 999 employees conducted by The Ad Council found that only 38 percent said their company has an emergency plan in place in the event of a disaster.

September is the sixth annual National Preparedness Month. Sponsored by the Ready Campaign, and with support from coalition members across the nation which include a wide range of state and local governments, businesses and organizations, National Preparedness Month is held each September to increase public awareness about emergency preparedness.

For more information or help preparing for an emergency, go to www.ready.gov/business or call 1-800-BE-READY.

Financial program in September

CHINA GROVE — Victory Wealth Management Inc. will facilitate Dave Ramsey's Financial Peace University at the 603 N. Main Street office.

The 13-week program teaches people to make the right money decisions. A preview class Tuesday will provide prospective participants an opportunity to learn more.

Regular classes begin Sept. 7 from 6:30 to 8:30 p.m. and will continue for 13 weeks.

For more information, e-mail Beth@VictoryWMI.com or call 704-857-4924.

EnergyUnited accreditation marks

EnergyUnited recently earned high marks on a national safety accreditation, with a score of 93 out of 100. The announcement follows a review by the Rural Electric Safety Accreditation Program. The program is administered by the National Rural Electric Cooperative Association.

The safety program conducts a peer-review evaluation of an electric cooperative's safety and loss control program. This helps co-ops achieve and maintain high safety standards.

To become accredited, a system must have an average score of at least 70.

The accreditation is valid for three years.

Scrapbooking ideas

A scrapbook is a way to remember the details of events and people for years to come.

Local scrapbooking expert Glenda Trexler works with Gold Hill area residents, both one-on-one and in groups, who want to create unique scrapbooks for their loved ones and themselves. Glenda can suggest ideas to create a personalized scrapbook.

To view some creative scrapbook ideas, visit Glenda's Web site, www.stampwithglenda. com.

Marketing firm wins award

Walker Marketing has received two Telly Awards for the promotional DVD "The Windshear Advantage."

The promotional video gives a glimpse into Windshear Inc., and its wind tunnel. Walker Marketing received a Silver Award (first place) in the Automotive/Vehicles category and a Bronze Award (second place) in the Corporate Image category. The Telly Awards honor the best local, regional and cable television commercials and programs, as well as the finest video and film productions and work created for the Web.

For more information about Walker Marketing, go to www.walker-marketing.com.

Submit information about new businesses, honors and management promotions to bizbriefs@salisburypost.com. Include a daytime phone number.

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