EDITOR’S NOTE
2021 remains a challenging year for the investment community, the race to vaccination is lagging and the future is unclear. Despite this, the world is on the mend and solutions are emerging. In this issue we discuss some alternatives that investors should consider, such as access to renewable energy in emerging markets and some more (p. 40).
Environmental, social, and corporate governance (ESG) as an option for investors, but what is it? and why it is important. We present the most important features of this trend (p. 14) In a conversation with Roman Nikitov we examined Ukraine’s booming tech sector, how the country is becoming a leading player in Central and Eastern Europe (p. 10). Also, how the British Virgin Islands are now a vital intermediary in the global economy (p. 32)
This edition counted with a number of important interviewees in the brokerage service. They shared their insights with International Investor, for them delivering a top-notch service and prioritizing the customer is key. The way the market is developing, investors should be a niche player that offer specialist and tailor-made solutions, some advice from Barents Re’s CEO (p. 44)
Every time is an honour to announce the winners of the International Investor awards, companies that know how to thrive even in the most difficult conditions. Congratulations to all! (p.69)
Enjoy,
Domenica Andrade
10
Investing in Ukraine’s booming technology sector
In conversation with Roman Nikitov, Co-Head of Venture Capital and Tech Investments at ICU Ventures
14 Sorting through the hype of ESG
What is ESG and what makes it good or bad?
20
Exclusive Interview with the ISP Group Team
Winners of Best European Fund Launch 2020
18
GKFX: The rising star of the forex world
Delivering top-notch brokerage services since day one
24
Soaring alternative asset ambitions demand solid operating foundations
Alternatives have become essential components in investors’ portfolios
28 High street closures to the brink
40 The spotlight must shift A call to shine the light on renewable energy in emerging markets 10 32
32 The British Virgin Islands
Reinforcing and enhancing its position as one of the world’s most
36 Al Hamraa Insurance Company, leading Iraq’s insurance industry
A challenging player among Iraqi insurance companies since 2001
44
Interview with Gerardo Garcia, CEO & Chairman of Barents Re
Barents Re a niche player that offers specialist and tailor-made solutions to clients
62
Oman LNG in brief
Providing a challenging working environment for growth and development in the global LNG industry
66
LeoPrime the next-gen Multi-asset broker
Insightful conversation with the award-winner of Best Multi-asset Broker 2021 v
48
Forex4you one of the most competitive trading platforms
Interview with Marina Strauss, CEO of Forex4you winner of Broker of the Year in Asia 2021
52
Shalakany shares its history and expertise
Awarded with Corporate Law Firm of the Year
56
Embraer introduces the Praetors
Different by design, disruptive by choice
INVESTING IN UKRAINE’S BOOMING TECHNOLOGY SECTOR
In conversation with Roman Nikitov, Co-Head of Venture Capital and Tech Investments at ICU Ventures, a Kyiv-based venture capital fund that invests in technology companies with strong ties to Ukraine and Eastern Europe. ICU Ventures is part of the ICU group, one of the largest and and the winner of such and such award from international investor.
Ukraine’s booming technology industry is already an important driver of economic growth in the country and wider Eastern European region. The industry is expected to continue to grow and projected to generate 10 billion USD by 2025, according to Tech Ukraine. Roman Nikitov discusses the investment opportunity in Ukraine’s fast growing technology sector, how ICU Ventures helps ambitious local entrepreneurs build global businesses, and the role Ukraine’s technology companies can play in continuing to help the country develop and sharpen its competitive edge.
WHY DID YOU LAUNCH ICU VENTURES?
We launched our venture capital arm in 2018 with a clear strategy to invest in promising tech startups. We often invest in companies with Ukrainian roots but not limited to those. We tend to invest in companies during the late seed or Series A stage. ICU Ventures has already invested between $200,000 and $1 million in 12 startups. In addition to committing investments, the ICU Ventures team also works with the startups on their strategy to help them through their next rounds of fundraising.
WHY DO YOU BELIEVE THERE IS A STRONG VENTURE CAPITAL OPPORTUNITY SPECIFICALLY IN UKRAINE AND CENTRAL AND EASTERN EUROPE?
We strongly believe in the intellectual potential of Ukraine and Central and Eastern Europe (CEE), that is a key factor in our strategy to invest the region. In particular, we think Ukrainian and CEE technology companies can be globally competitive and that technology companies will account for an increasing amount of global GDP moving forward.
We prefer to invest in technology companies with Ukrainian or CEE DNA. This means that the founders are often from the CEE region or the engineering and software development is done in the region. Startups with Ukrainian roots or powered by local developers continue to amaze us with their creativity and business acumen. Ultimately, we try to keep our portfolio 75% focused on companies that have ties to CEE, while the remaining 25% we keep open for companies from different regions that we believe are particularly interesting.
WHY IS THERE SUCH A COMPELLING OPPORTUNITY IN THE TECHNOLOGY SECTOR?
We think the technology sector is one of the most promising areas in terms of Ukraine expanding into the global market. There is an exciting new generation of talented Ukrainian engineers with a quality educational background and creative ideas. We strongly believe in their potential and committed to helping our developers to expand globally. The success of our technology companies is the best promotion for Ukraine as one of the world’s leading technology powerhouses globally.
WHAT DOES YOUR INVESTMENT IN COMPANIES INVOLVE?
We pride ourselves on investing more than just capital in a company. For instance, we provide our founders with strategic support and a network of contacts in the United States and Europe to expand their companies internationally and stimulate growth. Even if we source opportunities from other geographies, we will help our portfolio companies link up with talented Ukrainian engineers. The access we offer to high-quality, low-cost Ukrainian engineering talent is the key reason established
States invite are interested in speaking with us. Aside from making investments, ICU Ventures helps startups with strategy consulting and the next rounds of the fund raising.
WHAT ARE YOUR FUTURE PLANS FOR ICU VENTURES?
We plan to continue developing our venture capital business and invest in startup companies. The Ukrainian few years and we expect that to continue this year and beyond. We are looking for founders and entrepreneurs who are highly ambitious. We will only invest in founders who want to build companies that will compete on the global scale and disrupt industries. We are also looking for products that solve real problems while remaining easy to use.
PLEASE CAN YOU HIGHLIGHT SOME OF YOUR CURRENT PORTFOLIO COMPANIES IN THE CEE REGION?
3D Look is a Ukrainian startup developer of the technology, that enables creation of a person’s 3D model based on a photo. Company’s products combine the
Vision, Machine Learning and 3D Matching technologies are to process and measure the human body from just two photos from any mobile device with high accuracy.
Apostera is a software products developer for the car industry, combining most sophisticated modern techniques. Apostera platform enables active safety applications such as lane keeping and departure warning, forward/side/rear collision avoidance, path planning, takes its hummocks, holes and pits, up and down slopes, curves and turns.
Respeecher is a Ukrainian startup, which specializes in creating a digital model of human voices. Their product
It opens up a number of new opportunities for studios
Hivecell is a New York-based Edge-as-a-Service company
the category of edge computing. In contrast to cloud computing, edge technology allows faster and more reliable on-location high-volume computing power for businesses with multiple locations.
Augmented Pixels is a company that develops products
augmented reality. The company’s product enables autonomous navigation for robots in GPS-denied environments as well as having features that allow to create 3D maps for navigating in unknown spaces through a smartphone or virtual/augmented reality devices (indoor navigation).
SORTING THROUGH THE HYPE OF ESG
By Leanne Keddie
As members of the global investment community, you no doubt have heard the growing hype lately about ESG. Listening to some, it will save us all, listening to others, it is merely greenwashing and of no use for anyone. So what is ESG anyways and what makes it good or bad? how can you sort through the hype?
ESG refers to the environmental, social and governance factors
should be measured and what ESG means. This could relate environmental category or how diverse the management governance comes from the popular Cadbury Report, which
and includes mechanisms such as the board of directors and executive compensation amongst others.
There is growing excitement over ESG factors as evidence environmental responsibilities, as well as having good corporate governance structures, tend to perform better to the rise in sustainable responsible investing (SRI) and the use of ESG information to make investment decisions has seen their assets under management grow to over $9 trillion, in part likely due to their consistent message that sustainable.
Where does this ESG information come from and how is it used in making investment decisions? This is where around the world prepare sustainability reports and this information is voluntary and not audited. So why does this matter? This means that you cannot rely on this reporting. The information may not be comparable are audited, and, due to the voluntary nature, may be missing critical information.
It is also important to understand the perspective that example, the Global Reporting Initiative (GRI) is one of the most popular reporting standards in the world; it takes a multi-stakeholder perspective. This means that many
provides multiple snapshots from different angles to performance in relation to sustainability. Other reporting options, such as the proposed Sustainability Standards Board (SSB) by the International Financial Reporting Standards (IFRS) or the Sustainability Accounting Standards Board, take a more focused investor view. To continue with the photography analogy, it is more akin to taking snapshots from the views of various investor groups, but this likely will not capture all angles of the business. The risk here is that investors may miss out on key information that could be provided by having a more holistic view. If sustainability is the goal, then a more holistic view is required. Presumably, what is a truly sustainable business, is also a good investment, since it will be around in the long-run.
To sort through the hype of ESG, you need to be clear on the reliability of the information you are using to make your decision. While larger investors, like BlackRock, may be able to engage with management to better understand and verify ESG data, smaller investors may be left to rely on published information to make ESG decisions. Until we have mandatory, audited, multistakeholder perspective sustainability data to make our decisions on, we really need to read these sustainability reports, and gather our ESG data, with a critical eye.
discloses, and possibly even more important to identify what they are leaving out.
GKFX: THE RISING STAR OF THE FOREX WORLD
The winner of the Best Overall Forex Broker of 2020 Award, GKFX keeps on delivering high-quality brokerage services
A part of the Global kapital Group, the Europe-based broker GkFX* has been consistently delivering top-notch brokerage services since the day it was born. Relying on the Group’s expertise and know-how, GkFX has quickly secured a place among the most reputable brokers in Europe.
Serving both retail and professional clients, GkFX has processed over 300 million client transactions so far and currently delivers multi-asset CFD trading in respect of more than 500 underlying instruments.
CLIENTS ABOVE ALL ELSE
GkFX provides outstanding local support for over 20,000 clients in 5 languages, 24 hours every trading day. Clients can access daily analysis articles, the latest market news, and weekly analysis videos for free. On top of that, GkFX offers free educational material in e-book and video explainer formats. Always prioritizing client satisfaction, GkFX has steadily built a loyal client base over the years, and through continuous innovation, it aims to meet its clients’ ever-changing needs.
INNOVATION IS THE KEY
Constant innovation is the number one driving force behind GkFX’s success story. In 2020, GkFX’s website has gone through a complete renewal with the purpose of perfecting the customer experience. Thanks to its customer-oriented approach and highly motivated team which consist of innovative minds, GkFX successfully achieved most of its goals in the past decade and proudly holds many prestigious
awards from independent industry experts, including the Best Overall Global Forex Broker, Best Forex Broker, Best CFD Broker, and Best Forex Platform.
ADDED SERVICES
GkFX currently offers Forex, Indices, Commodity, Stocks, and Crypto CFDs with fast execution times. As a broker with a broad range of instruments, GkFX prioritizes providing low spreads to make these assets more accessible for traders. Starting from February, the spreads on Gold and Silver CFDs are as low as 0.2 and 0.3 respectively.
Traders can also enjoy trading with the help of leading signal providers such as Autochartist and Trading Central. Reliable trading platforms like MetaTrader 4 & 5 are also available for all clients.
FURTHER INFORMATION
www.gkfx.eu
*GkFX is the registered trademark of AkFX Financial Services Ltd which is with the Malta Financial Services Authority.
80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
5 LANGUAGES,
500+ TRADING INSTRUMENTS,
300M+ TRANSACTIONS
INTERVIEW WITH THE WINNERS OF BEST LAUNCH 2020
in 1993. It is majority owned by CLO veteran Roy Tal and lead by CEO Marco Bartolucci. The group services private clients,
blend of latest technology, high-touch service and the deep expertise of our interdisciplinary teams. The group specializes in Structured Credit, Fixed Income and Structured Products and offers Paying Agent, Placement Agent, Custody and Wealth & Asset Management Services.
With over 2 decades of investment experience in CLOs the group
CLO Opportunity fund, Ardesia. The fund is co-managed by Ron Zeltzer and Simon Gold. Ron joined the group in 2007 to develop the CLO platform that Roy Tal set up. Simon joined last year after managing Bank of America’s CLO trading desk in London for 6 years. The team recruited Philip krausz last year to support in trading and analysis. The fund returned to its investors 41.64% in
EXCLUSIVE INTERVIEW WITH THE ISP GROUP TEAM, WINNERS OF BEST EUROPEAN FUND LAUNCH 2020
Q: RON, HOW DID THE CLO MARKET PERFORM IN 2020 AND HOW DID YOUR FUND REACT TO THE SWIFT MARKET CONDITIONS LAST YEAR?
The biggest winner in 2020 was obviously the US tech
then mezzanine tranches of European Collateralized
Despite the volatility last year, single-B rated CLOs showed total returns of over 17% and BB rated CLOs returned both sides of the Atlantic. If you look at Investment Grade risk, European BBB rated CLOs returned over 7%, slightly below IG bonds. The European CLO returns are even more impressive if you consider the Euro appreciation against most major currencies.
Our fund was structured last year after long discussions how we can navigate through volatile markets and take
portfolio manager to overweight certain type of risks without rating constraints. We also wanted a structure that can navigate through a volatile environment without facing the risk of large early redemptions that force the portfolio manager to sell in the market good assets at a disadvantageous time.
and mezzanine tranches of CLOs at times of great uncertainty. Once we saw that the market is rebounding, we replaced quickly our senior risk with more junior risk. Our investments in single-B tranches represented a great risk adjusted return where we initially positioned the risk, however the market quickly bounced back to levels where we could monetize the gains that we expected to play out over a longer period of time. We replaced this risk with BB’s in the new issue market, where deal covenants were particularly friendly for debt investors. Without planning to, we turned over the portfolio one and a half times, just because we reacted to changing market conditions. This resulted in 37.10% positive performance in 2020, while keeping our risk bucket relatively low. Today our exposure to the riskiest bucket (equity and single B) is about half of the portfolio.
Q: SIMON, WHERE DO YOU SEE THE CLO MARKET IN RELATION TO OTHER ASSET CLASSES GOING FORWARD?
It was always anticipated that 2021 would be a year where of money’, and so far, this has failed to disappoint. One nuance, however is the relative insulation credit markets have experienced when compared to government bond and equity markets. The volatility has only had a peripheral impact on pricing in credit trading and whilst it is not correct to say these markets have been immune from wider moves in the US treasury market and the wide range trading in US stocks; investors will have so far felt they have not been included in those particular rollercoasters.
Take February as an example; in a month where the peak to trough moves in tech stocks saw it almost revert to a bear market and the 10-year US treasuries headed for 1.5%, we actually saw the S&P European Leveraged Loan Index
strong demand for loans. The consistency in the ELLI year to date stands in stark contrast to the broad and volatile range trading in the S&P/Nasdaq and the VIX.
From an investor standpoint therefore, the question is what to make of this dichotomy. Do we see that credit really is less risky or shall we say, not part of the speculative bubble that has emerged in US tech stocks and rates or is it only a matter of time before contagion effects our markets too? The reality will only be known
data points that suggest that for the CLO market on which we focus, there is a case for outperformance in the current market environment that we expect to persist in 2021.
Q: RON, WHERE DO YOU SEE LEVERAGED LOANS FUNDAMENTALS AND HOW RESILIENT IS YOUR FUND TO A HIGHER DEFAULT RATES IN REGIME?
The collateral in CLOs has become riskier, in line with all asset classes. Although companies raised more cash in absolute terms last year and despite the drop in real rates since COVID, interest coverage levels have come under pressure. Another point of concern is the increase in leverage among high yield issuers; there are more issuers with DEBT/EBITDA multiples at 6 or greater and this is a direct result of the access to the increased money supply,
But not everything is so gloomy. The sharp increases in loan prices have allowed collateral managers to clean up their portfolios and in the vast majority of cases, without taking meaningful losses in their portfolios. We see a decrease in assets that are rated CCC or below as well as a sharp decrease in low priced assets. This results in higher overcollateralization ratios for the debt investors in CLOs.
When we are considering an investment a large part of
look at the current portfolio but also try to optimize for
on the investment. With our current portfolio it takes ~14% of cumulative portfolio losses before we show negative returns in the long run – this is equivalent to 28% of the collateral defaulting and recovering at 50% (long term annual default rates in European leveraged loans average 2.6% and recovery rates average 67%). I can tell you that as investors in the fund ourselves, we still go to sleep at night with comfort.
SOARING ALTERNATIVE ASSET AMBITIONS DEMAND SOLID OPERATING FOUNDATIONS
By Ben Goderski, Regional Sales & Relationship Manager at SS&C Advent
Alternatives have enjoyed periods of investor interest and asset growth before, but never on this scale. Quantitative easing programs continue to suppress bond yields, driving investors towards riskier assets. Add in record equity market highs and concerns about unsustainable valuations, and the conclusion is traditional 60/40
owners’ needs. The pandemic has only added to the acceleration of this trend.
optional add-on, they have become essential components in investors’ portfolios, argued J.P. Morgan Asset Management’s 2021 Global Alternatives Outlook : “Facing stretched valuations in traditional markets, limited and persistently low bond yields with asymmetric risk, investors have made a decided turn to alternatives in the
ALTERNATIVE POPULARITY
Global alternative assets under management have already the most prominent alternative asset class and is
All regions will see growth, especially Asia. As investors want to expand their number of fund manager relationships, opportunities for new funds, strategies and markets abound. The hedge fund industry—somewhat out of favor after a run of performance disappointments
DON’T FORGET THE OPERATIONAL SUPPORT
While the impetus for wealth and asset managers to diversify their clients holdings has never been more evident, managing and maintaining a portfolio of alternative assets is no simple matter. Aside from the and technological complexities involve processing and reporting the different asset types.
Relying on a mix of spreadsheets, in-house built technology and legacy vendor systems, as many and reputational risk demands both expert knowledge and a sophisticated, multi-asset class solution
expenses and tax impacts among every investor is a particular challenge. heightened investor and regulatory scrutiny also call for enhanced transparency and reporting capabilities.
having won the latest International Investor awards for Best Private Equity Software Provider and Best Portfolio Management Software Provider combined with decades of expertise supporting investment managers and asset servicers across the alternatives space, we’ve seen the challenges up close. So what are the main issues to watch for?
• Look-throughs, exposure monitoring and reporting
Look-through to the underlying assets is vital for today’s hybrid and private equity funds. Tight integration of the investment and investor accounting records gives investors transparency into the portfolio’s constituents and their performance—functionality many systems struggle to provide. The ability to track investors across opt-out capabilities to clients on particular investment opportunities.
Private equity’s fee, payment and return calculations add to the reporting complexities. Generating reports and providing transparency into a fund’s management and and loss components, management fees, partnership expenses, waterfall calculations, and capital calls and drawdowns.
Accounting for and reporting on a closed-end fund’s ongoing tracking of its committed capital and unfunded commitments. With their multiple rounds of investments, private equity funds must also rebalance their P&L since inception and the capital calls and distributions to investors whenever new investors come in. Calculating those rebalances can be highly manual and tedious without the right automated system functionality.
• instrument classes. Rather than simply holding a position from the products have to be managed.
Take the varying terms of the credit/debt fund structures within each private equity transaction. Complex waterfall calculations, expense allocations, hurdles, tiered incentive
of interest and valuation processes need monitoring and managing. Traditional legacy systems and spreadsheets struggle to accommodate these processing particularities,
• Flexible scalability
are on the rise. But so too are regulators’ transparency demands and clients’ service and control expectations. Wealth and asset managers keen to diversify into alternative asset classes or ramp-up allocations need an automated investment and operational support infrastructure with complete instrument coverage and from these market trends.
KEEP INVESTORS HAPPY TO ATTRACT ALLOCATIONS
Deep and broadening investor interest in the alternatives space presents compelling opportunities for investment managers. But investors—especially institutions—expect faultless compliance capabilities and high-quality servicing throughout the lifetime of an investment relationship. In turn, managers must prove they can deliver them during due diligence.
HIGH STREET CLOSURES: HOW PRIVATE EQUITY HELPS PUSH FIRMS TO THE BRINK
By Stephanie Giamporcaro For the Conversation and International Investor Magazine
With long-established names like Debenhams, Topshop and many others vanishing from the town centres across the Uk, it would be easy to blame the rise of internet shopping – spurred on by the pandemic – for the decline of the high street. But there are also more hidden forces at work. Investment decisions made years ago by private
longstanding retailers to the brink.
The presence of private equity is both a symptom and a cause of the disappearing high street. Yet, private equity can seem far removed from most people’s lives – rich
that few have ever heard of. The truth is that their choices can actually have a big impact on the rest of the economy, including our workplaces, environment and community.
Private equity refers to a type of investment in companies that aren’t publicly listed on the stock exchange (or the purchase of public companies to make them private).
Private equity investors have a reputation for buying companies, loading them with debt to fund strategic
without concern for the long-term future of the companies.
Take the example of Debenhams. The company was taken
shops for £495 million and leasing them back from the new owners.
It was then returned to the stock market in 2006, making leaving the company saddled with a debt of £1 billion –ten times what it had before the private takeover. This left it ill-prepared to deal with the rise of internet rivals.
liquidated and the brand bought by online clothes retailer Boohoo, putting around 12,000 jobs at risk.
This is far from a unique occurrence for the high street.
in the years after private equity takeovers. A study by a number of campaign groups found that ten of the 14 largest retail bankruptcies in the US since 2012 involved private equity owners, and that such companies were twice as likely to go bankrupt as public companies.
RESPONSIBLE INVESTING IS INCREASING
Given these problems, the approach of private equity years. But evidence suggests things might be changing. A emphasis on the environmental, social and governance (ESG) sustainability of their investments, as a way of
A recent PWC survey found 91% of private equity
investment strategy or ESG policy. Last summer more than 400 asset managers, controlling more than US$1.6 trillion (£1.2 trillion) of other people’s money, signed up to the United Nations’ principles for responsible investment (PRI), which provide a guide for how to incorporate ESG issues into investment practices.
they protect workers’ rights around decent wages, pensions and severance packages. Adopting responsible the fundamental problems of private equity around assets stripping and loading up on debt. But it could get the private equity industry to review some of their more contested investment strategies if they clash very systematically with their proclaimed social impact aspirations.
Yet while it is good that a rising number of private equity players are embracing more responsible principles, the road ahead is still full of challenges. It’s not enough for funds to have ESG targets. Investors such as pension need to be extra-vigilant about how private equity players behave. This is made all the more urgent now that private equity owners of struggling businesses will be allowed to access taxpayer-backed loans to support them in the wake of the pandemic.
Ordinary people also can start questioning how their own investments such as pensions are being used. They can also engage with their MPs on the regulation of private equity regarding some of their most predatory investment practices.
Debenhams’ failure sadly shows that we may all ultimately pay the price for short-term investment goals. With the should now be making decisions they believe will have a
THE BRITISH VIRGIN ISLANDS –WELL POISED TO USHER IN A NEW ERA OF GLOBAL GROWTH
By Simon Filmer
: The British Virgin Islands (BVI) continues to reinforce and enhance its position as
centres and a hub for cross border investment and trade. Despite facing some of its toughest challenges in recent years, the BVI has maintained its policy of international collaboration to ensure it meets the highest global standards. Its prominence has been recognised and further validated by the numerous accolades received from independent bodies.
global transactions, from Initial Public Offerings (IPOs) to complex debt restructurings with revenue and incorporation numbers only slightly below those of 2019.
strong expectations that 2020’s numbers will be exceeded by the close of this year.
These are admirable accolades, but even more
that the BVI has overcome in recent years. Even through the devastation caused by hurricane Irma in 2017 and the ongoing impact of the global COVID-19 pandemic, the resilient, ensuring that the BVI has kept its position as a key hub for global investment and trade.
A VITAL INTERMEDIARY IN THE GLOBAL ECONOMY
The BVI’s role as a neutral intermediary cannot be overstated. Clients can swiftly set up a new BVI structure that is globally recognised and accepted for international business. Many such clients are from emerging markets and economies, and it can be helpful for them to use a neutral jurisdiction, particularly at a time of international tension. Such structures assist to provide economic
75 per cent of hong kong’s hang Seng Index consists of companies with direct linkages to the BVI. The BVI’s tax neutrality provides important economic advantages, are often misunderstood by the general public.
regulatory bodies - and has not gone without recognition. In the most recent edition of the Global Financial Centres
centre from the Latin America and Caribbean region and the top-ranked British Overseas Territory. Recent awards include Best Offshore Financial Services Provider Global 2020 (CSI); International Financial Centre of the Decade (European CEO); Best Provider International Financial Services 2021 (World Commerce Review) and two awards with International Investor – International Offshore Financial Services Provider of the Year (Global 2021) and CEO of the Year, Offshore Financial Services (Global 2021).
For example, a business in one country may use a BVI entity to invest in commercial real estate in another country. Any taxes levied on the commercial real estate
use of that commercial real estate are returned to the home country where the company pays income and other taxes on them. But the BVI intermediary collects no corporate taxes, leaving more money to be repatriated to the home countries providing and making use of the capital.
The sums involved are not trivial. At a global level, independent research conducted in 2017 by Capital Economics, showed that the BVI mediates more than US$1.5 trillion of investment globally and contributes over US$15 billion in tax revenues annually to governments around the world. The BVI has earned its reputation as a truly global centre, with a strong presence in markets across the globe. key markets including China and the rest of Asia, for example, are responsible for more than 40 percent of the investment mediated through the BVI. Latin America is another key market, with over US$114 billion of outward investment stock mediated through the BVI creating 330,000 jobs and US$0.9 billion in tax
kingdom and Europe combined, the BVI is responsible
The Overseas Development Institute (ODI) estimates countries in the last decade.
STAYING AHEAD OF GLOBAL REGULATORY STANDARDS
In an increasingly complex regulatory landscape, the BVI has remained steadfast in its commitment to remain current with the latest global standards through collaboration with international organisations, governments, and regulators.
integrity. It adheres to both the OECD’s Common Reporting Standard (CRS) and the US Foreign Accounts Tax Compliance Act (FATCA) for the automatic exchange of tax information.
A long-serving member of the OECD’s Global Forum on Tax and Exchange of Information and the Financial Action Task Force (FATF), the BVI also participates in including the Financial Stability Board, as well as the International Organisation of Securities Commissions (IOSCO) and the Egmont Group of Financial Intelligence Units.
A key example of the BVI’s progressive approach can be Secure Search system (BOSSs) in 2017. The cutting-edge electronic search engine has provided the relevant BVI Authorities with a searchable database that provides owners. The BVI’s BOSS system has been lauded by global law enforcement authorities, such as the Uk’s National Crime Agency (NCA), and has made vital contributions to was integral to disclosing information that warranted the
the NCA in 2018. The BVI currently shares information with more than 200 countries around the world.
Regulations remain ever evolving in response to new risks or emerging products such as cryptocurrencies and initial coin offerings. As a result, the landscape is getting more complex, but in the face of shifting global regulations, the BVI has retained its agility and adaptability, keeping up to date with the latest changes and ensuring compliance.
The launch of BVI’s Fintech Regulatory Sandbox stands as another example of this innovative approach. The
businesses to conduct live testing, identify areas for product or service complies with legal and regulatory requirements. As well as being an effective light-touch regulatory regime, such initiatives are helping to drive innovation, and contributing towards the development of a strong and entrepreneurial talent pool.
with great agility and resourcefulness in overcoming an array of challenges in recent times. In 2021, the BVI stands as one of the most competitive and respected
a new era of global growth. Underpinning this is the BVI’s unique position as a stable and secure jurisdiction facilitating cross border economic collaboration and investment, which crucially, is safeguarded by an ongoing commitment to the highest global standards.
AL HAMRAA INSURANCE COMPANY,
LEADING IRAQ’S INSURANCE INDUSTRY
Individuals, families, businesses, properties, and assets are exposed to different types and levels of risks. The insurance industry in today’s world has become a prominent and crucial part of individuals’ and businesses’
country’s future economic growth by providing stability to
for long-term projects. The insurance industry in Iraq has witnessed a fast-paced development since the release of the Insurance Law no.10 in 2005. Insurance is vital for developing countries like Iraq because it encourages the virtue of savings among individuals, creating employment opportunities for the whole nation. Both savings and employment are essential factors for the economic growth of Iraq.
Al hamraa Insurance Company, since it began its operation in 2001, has been a challenging player among sector in general. Al hamraa Insurance has provided professional consultancy and advice to both corporates and individuals for the past years to protect their assets, property, liability, and earnings. While doing all the latter,
customer base from both corporates and individuals.
The company’s vision rests on increasing the insurance awareness among all Iraq’s population while setting the standard of excellence among other insurance providers
the right services at the right time for the customers. On the other hand, the company’s mission is to use a customer-centric approach to provide the most affordable and professional services to its clients while educating them on insurance importance.
Al hamraa stands out in the industry by being creative in the services they provide; the company recognizes that the insurance industry in Iraq can be challenging due to the vulnerable environment. Therefore, Al hamraa always strives to enhance its level of services to keep up with the international standards of insurance providers to safeguard and protect its clients from any misfortunate circumstances they may encounter.
At Al hamraa, we make sure to approach our clients in a customer-centric way making their needs our priority. The staff at Al hamraa ensure this is always practiced as they are the most professional and experienced staff in the insurance industry in Iraq. The employees at Al hamraa are carefully selected based on their experience and their areas of expertise to provide the highest quality of services to our clients.
Our success is attributed to the various insurance services we provide to our clients in several different areas. The process of our work with the clients is based upon a transparent relation, and it’s divided into stages because we recognize that the most critical aspect of our work is to keep our client’s business services safe and continuous.
the client’s business; we take the time to dig deep into their goals, objectives, and where their company stands in the market to understand the risk exposure they might be exposed to.
the risk mitigation we assessed to advise our clients on relevant risk prevention processes and policies. Moreover, we begin the marketing process for our client’s program
the client’s program, ensuring that it evolves with their business objective to remain ahead of all sorts of risk exposures.
As our client’s trusted advisor, we always ensure the for our clients. The values that hold our company is a combination of excellence, innovation, accountability, and commitment. At Al hamraa Insurance we compel to be loyal to our client’s stakeholders and their employees as we believe that human assets are our greatest strength.
loop infrastructure to secure and maintain the sensitive data and information that already exists and ensure their safety from future risks and vulnerabilities. Thus, data integrity is the backbone of our company and our main priority.
Al hamraa Insurance offers a variety of cost-effective and advanced solutions for its clients. It recognizes the extent to which our clients value their life, properties, and business, and it is aware of their need to secure them against unexpected losses and damages. The various
services we offer vary between life products and general insurance products.
Our life product insurance policies include life insurance, personal accident insurance, health insurance, and travel insurance. On the other hand, our general insurance policies have covered the smallest to the most considerable details that may encounter the client’s business and might cause threats and risks to these businesses. Al hamraa general insurance policies
insurance, marine insurance, all types of engineering and construction insurance, cash in transit insurance, aviation, marine, and last but not least employee and employer’s liability insurance. The extensive detailed packages we
of the need that we must be ready for minor gaps and be aware of the vulnerability aspects of our client’s life and business.
Our future vision rests on the belief that we will be able to become the leading insurance company in Iraq while taking a major role in the economic development and we aim to attain Iraq a place among the developed countries in terms of being aware of the importance of insurance with the various services we provide. This constant dedication towards improving our services to the clients is
THE SPOTLIGHT MUST SHIFT
Developing countries hold a special place in my heart. I’ve lived and worked in them and travelled and made friends in them. So it worries me on a deeply personal level countries compared to developed nations. It only serves to highlight the widening inequality gap and reminds me that so many people in the world are increasingly being excluded from access to basic needs. When I lived
money has the ability to lower the barriers that block the pathway to individual and national development. It can increase access to food, water, education, and information and help combat poverty and inequality. It’s the main reason why I’ve continued to work in the sector one way or another my entire career.
Money needs to be used in the right way, supporting the right industries in the right places. I believe we urgently need to increase access to renewable energy in emerging markets.
In 2020, the worldwide urgent need to respond to COVID-19 cast the need to address other global challenges into the shadows. Although response to the pandemic still demands our attention, we should also now urgently turn the spotlight back on the mid- and longer-term, and solutions to global threats, such as climate change and increasing inequality. It is widely known that the energy transition helps combat climate change, but the risk of not accelerating it fast enough also threatens quality of life, especially in developing countries. Almost all poor nations are within 30 degrees of the equator so they are not only more vulnerable to the physical effects of climate change, but if we don’t mitigate climate risks, the access
In terms of creating access to energy, we are at a crucial point in time where some of the world’s least developed countries have an opportunity to leapfrog most of the developed ones because they are immediately able to implement renewable energy solutions, and they can produce where they consume. There is no need to build coal-based power stations nor rely on grid infrastructure, although some form of grid is likely to be needed to activity.
A call to shine the light on renewable energy in emerging markets By Jacco Minnaar
There is no denying the enormity of the challenge, in fact I would say it’s a triple challenge. Firstly, we must implement within the barriers of our CO2 budget as a global population. Secondly, we must achieve better levels of development, and thirdly, most developing countries
energy transition themselves but they do have policies to attract foreign direct investment, which means renewable energy investments in emerging markets can tick all three boxes.
The good news is that climate action and climate investments have gained a lot of attention in recent years. Phenix Capital Group, authors of the 2021 Impact Fund Universe Report, state that renewable energy and climate action represent roughly one third of all impact investments, and 40% of new commitments in 2020. But just looking at these numbers hides the fact that most investors still shy away from emerging markets. During
markets and into the dollar, and that is what happened with COVID-19. Unfortunately, this behaviour tends to be driven by investor perception of high-level risks in those countries. But it is just that, a perception. Like any investment there are risks involved, but in this case, they are lower than the investors perceive. It’s true that emerging markets stock-listed equity and bonds can be quite volatile, and on the bond side there can be relatively high defaults. But based on our track record and that of
for senior debt to energy projects. Investors need to have teams with deep sector and country knowledge to understand the risks and know that it can create good with markets. Renewable energy assets tend to be stable in a crisis. They continue to produce electricity, which continues to be consumed and most countries have preferential grid access. It’s a very interesting impact-riskand understand the countries to be successful. In my experience it also helps to have partnerships with trusted
developers and like-minded investors. When you choose the right operators, and you structure it in the right way, then actual default rates are in a totally different league to where the corporate debt is in those countries. For Triodos Investment Management renewable energy has been one of the most resilient investment categories in the COVID crisis – our Groenfonds has not only achieved relatively decent impact risk-adjusted returns, it also has a strong pipeline of projects.
Investing in renewable energy in emerging markets has a multifaceted ability to not only tackle climate change, but types of activities and jobs. Now is the time to shift focus away from short-term responses to COVID and turn the light on the opportunity and stability that can be created by investing in renewable energy and other SDG solutions in emerging markets. I urgently call on like-minded investors to explore the opportunities.
Jacco Minnaar is Chair of the Management Board at Triodos Investment Management.
INTERVIEW WITH GERARDO GARCIA, CEO & CHAIRMAN OF BARENTS RE
CAN YOU GIVE US AN INTRODUCTION TO BARENTS RE?
We established Barents Re in 1996 and over the past 25 years we have built a reputation as a trusted international specialty and niche reinsurance partner that has delivered
CAN YOU TELL US ABOUT YOUR INTERNATIONAL DEVELOPMENT?
I am especially proud of our expansion strategy with its focus on specialty lines of business which has been key to our progress. We are very clear that we only establish a presence where we believe there are opportunities to work with like-minded clients. From our Cayman Islands
entrepreneurial culture, coupled with an experienced management team, allows us to identify and respond quickly to opportunities. The expertise of our specialty underwriting teams and their knowledge of our markets, products and clients enables us to offer innovative solutions. We offer bespoke products and services individually tailored to our clients’ needs.
On the subject of clients, they include global, regional
public entities and global corporations. They value the expertise and consistency of our underwriting teams and knowledge of their business and our ability to offer innovative solutions.
Furthermore, our reputation means we attract top quality personnel from around the world. Our people are the core of our business; it is their knowledge and experience that allows us to make the right decisions for our clients and for our business. Of course, we manage and have access to a wealth of data and tools that assist us in our decisionmaking processes. But it is the ability to accurately interpret such data that separates one reinsurer from another. It is precisely for this reason that we employ recognised experts.
throughout Europe, such as London, Luxembourg, Madrid, Milan, Moscow plus Latin America and the Middle East.
On a geographic basis, Barents Re’s activity is focused on both mature and emerging markets. This is part of our DNA. The growth in insurance premiums in many countries is fueled by economic fundamentals, favorable demographics and the introduction or enforcement of compulsory insurance are most encouraging. While insurance penetration is still low in many countries, it’s coming years.
WHAT ARE YOUR KEY LINES OF BUSINESS?
We are focused on being a niche player that offers specialist and tailor-made solutions to our clients. We do not participate in every type of business because underwriting discipline is fundamental to our success. On the commercial side, we are especially strong in Surety Bonds, Energy, Construction & Engineering, Property, Financial Lines, Marine Cargo, Life and Accident & health. We also have a growing presence in the Consumer arena
HIGHLIGHT THE ROLE OF INNOVATION AT BARENTS RE?
terms of the design and proving of insurance products. This is only the beginning for Barents Re. Innovation is integrated into our processes and is fundamental to our business model and an integrated part of our clients’ experience. At Barents Re, innovation is as much a mentality as a process or procedure.
WHAT ARE YOUR PLANS FOR THE FUTURE?
We seek to create value for our shareholders and our business partners by investing in our business to:
• • Create new customer segments
• • Expand geographically
• • Innovate tailor-made products
As I have mentioned, we only do business in countries where we feel comfortable, and where we have a nicheon market share.
A direct consequence of our analytical and disciplined approach is our ability to provide substantial capacity for
(Excellent) rating for our Luxembourg subsidiary, Barents Reinsurance S.A. We are delighted with these ratings as we feel they are a validation of our efforts to make our business the success it is today.
Overall, we are working to reinforce, develop and enhance so that we continue to be the trusted partner to our clients.
AN INTERVIEW WITH FOREX4YOU’S CEO MARINA STRAUSS
28 April 2021, International Investor Magazine sat down with Marina Strauss, CEO of award-winning online trading platform,
CONGRATULATIONS ON WINNING THE FOREX BROKER
WOULD YOU SAY CONTRIBUTES TO DRIVING THE SUCCESS OF FOREX4YOU?
I’m pleased that all the hard work and effort that we have put into the business has been recognized and our strategic expansion into Asia has been worthwhile. This year, Forex4you
it shows stability in our operations. With every year older, we grow bigger and better.
Success and hard work go together, but it also relies on the values and direction that every company holds. Forex4you has always been driven by its core values of competency, honesty, transparency, and integrity. We are driven to innovate and to foster long term relationships to achieve international expansion. When we remember the basics, we can extend ourselves and grow the business.
Success also comes from the team and I’m proud to say that we’ve also grown in talent across the years. Today our Forex4you team comes from multiple nationalities from
best at what they do.
WHAT IS FOREX4YOU’S SECRET TO CLIENT GROWTH?
and partners. We offer one of the best trading services, and as a business that functions as a platform, we would be nothing without our clients. Asia is a continent that places much value on society. What we’ve realized is that a happy client will foster more clients and this has fueled our success. Till date, we have over 2 million opened client accounts. I would say our not-so-secret formula for client happiness is our transparency, customer service, and great product development.
that trust is the major key factor. We have always ensured that our clients’ funds are safe and secure. Deposits and withdrawals with us are instant, and throughout the years, we have kept our operations transparent with all our clients. We are internationally regulated by BVI and we are audited successfully each year by kPMG.
We also have an excellent customer service team that maintains the happiness of our clients. They function 24/7 and can cater to the growing demands of our international expansion. At present our team can communicate in 12 languages and we have an extremely
In our 14 years, we have also developed numerous different features on our platform in order to respond to feedback. For example, Forex4you has another product and trademark, Share4you; our excellent copy trade service. Another product we developed for Asia was our Forex4you mobile app, which allows for a better trading experience from the palm of your hand.
AS A TRADING PLATFORM WHAT KEEPS FOREX4YOU COMPETITIVE IN THE ASIAN MARKET?
We believe that trading should be for everyone, and I think what’s competitive about our company is the effort
There is no minimum deposit for clients to start trading. Our cent account also allows trading from 0.01 pips. Our Forex4you MetaTrader4 (MT4) platform and the usage of Expert Advisors were also quite welcomed by the Asian market. Another move we made to cater to the Asian population was to launch our islamic swap free accounts.
For expert traders in Asia, we keep our spreads low at 0.1 pips and we offer a leverage of up to 1:2000. Our trading execution time is also impressive at 0.5 seconds. Till date, I’m happy to say that we’ve executed over 1 billion trades.
WHAT IS THE KEY TO YOUR SUCCESS WITH THE PARTNERS THROUGH YOUR AFFILIATE PROGRAM?
I think the key to any strong and healthy relationship, in business or outside it, is when the partnership is very basic but important touchstone that people often overlook.
On a technical level, I would say that there are two main unmatched commission programs and the second is the positive experience that partners gain when they work with us.
CAN
YOU ELABORATE MORE ON THESE 2 FACTORS?
known as our partnership programs. They are specially designed to maximize the potential of every partner that we work with. We want partners to be able to choose how they work with us and we give them the freedom to do so. In fact, we have created multiple programs to cater to a vast variety of different needs across the region. Our commission structure is the best in the market, and we work on a very fair and very generous system. The higher the result a partner achieves, the more rewards he receives. Last year alone, we hit a company milestone and paid out over 29 million dollars to our partners.
The second factor is the unique experience that a partner enjoys when he works with us. We go out of our way to ensure that our partners are well taken care of, from luxury gifts to exclusive international getaways, there is little more than a partner would want. Our personal key account managers are extremely accessible, responsive,
are any partners that would say that they did not enjoy working with us. In every survey we’ve sent out, we’ve gotten 100% when it comes to our partner programs. Once a partner is on board, they stay on!
ANY TAKE ON THE FUTURE OF FOREX4YOU?
The forex landscape is an ever-changing one. Anything can move the market at any time, it’s certainly exciting but that means that what works one day, may not work the next. While we cannot predict the future, we always ensure that we keep our eyes and ears open, and we stay on our feet. We certainly have many milestones, projects and developments in our roadmap, and we look forward to releasing them soon. For now, we hope to maintain and improve our standards and services across the region to keep our clients and partners happy!
SHALAKANY AWARDED WITH CORPORATE LAW FIRM OF THE YEAR SHARES ITS HISTORY AND EXPERTISE
HISTORY
Shalakany was founded in 1912 by Abdelfatah El Shalakany, a prominent lawyer who reached the pinnacle of his career when he was elected as the head of the Egyptian Bar Association in 1950. Abdelfatah’s two sons, Ahmed El Shalakany and Aly El Shalakany followed in his footsteps and successfully took over the practice in the 1950s.
After Ahmed El Shalakany’s tragic passing at an early age in the mid-1970s, Aly El Shalakany assumed the sole
rise of the role of the private sector in the economy under El Shalakany’s leadership and vision, was able to seize the opportunity by leveraging its expertise and expanding exponentially to become one of the largest corporate law
strength to strength and was actively involved in most of all leading corporate transactions taking place in the region. At the start of 2006, Aly El Shalakany’s son, Dr. khaled El Shalakany, took over the reins and has
legacy until the present day.
OVERVIEW
record of success and growth that today makes it the in Egypt and the Middle East. With over 70 lawyers, counselors, and paralegals, including 11 partners and a multinational, regional and premium local clients through
almost all practice areas by the internationally recognised legal ranking organisations.
MISSION AND CULTURE
Through the experience, expertise and dedication of its lawyers and staff, the Firm provides bespoke top quality legal services for its clients. Each client receives the personal attention of a partner who, as the designated client manager, is responsible for ensuring that all work for the client is handled in a professional and timely manner by the specialized experts within the Firm.
The success of the Firm’s clients is a measure of the Firm’s own success. We strive to understand their business objectives. The Firm’s aim is for clients to consider the Firm as their trusted counsel and an extension of their
values, which are:
Commitment to our Clients – Understanding the clients’ needs and providing practical and expedient solutions through a partner-led service.
Commitment to our staff – Providing a dedicated platform to support our lawyers and staff to realize their full potential through extensive training and development programs.
Commitment to our community
being a part of a community requires active contribution to its welfare, wellbeing, and sustainability.
CORPORATE AND TRANSACTIONAL EXPERTISE
and acquisitions in Egypt and the region. Through a partner-led service, the Firm supports its clients by structuring and implementing tailor made, pragmatic and innovative solutions to cater to their circumstances and needs.
Mergers and Acquisitions - The Firm has acted on many taken place over the past few decades. We represent both buy side and sell side clients, whether strategic or
Capital Markets - Over the years, we have represented
transactions and IPOs. Shalakany has acted as legal counsel for both the underwriters and the issuers on a number of transactions across various different sectors. Recently, the Firm has also undertaken a number of
institutions and corporations, representing both lenders and borrowers in matters involving international and local
letters of credit, letters of guarantee, mortgages, pledges, and other types of security.
Project Development and Finance - Shalakany is a leading (PPP) projects and similar projects in Egypt, having acted the past few decades and gaining considerable experience in the infrastructure, electricity, renewable-energy, roads, transportation, aviation, oil and gas, water, and petrochemicals sectors.
DISPUTE RESOLUTION AND LITIGATION EXPERTISE
Shalakany has acted on almost all major arbitration and litigation cases in Egypt over the past few decades, in several sectors, including construction, oil & gas, power, infrastructure, aviation, insurance, employment and tax disputes.
in Egypt to develop specialized expertise in commercial arbitration. Since the early 1970s, the Firm has been involved in many of the major arbitration cases in Egypt, which include the Pyramids Plateau arbitrations, the Cairo Metro arbitrations, the Ahmad hamdy Suez Canal Tunnel arbitration, and the Isna Barrage arbitration.
The Firm handles, on average, about ten new arbitration cases annually. For this purpose, the Firm has established a specialized Arbitration Group. Apart from arbitration procedures and advocacy and other skills required, members of the Arbitration Group, following the introduction of the Egyptian Arbitration Law No. 27 of 1994, have also, through the Group’s specialized arbitration practice, become leading experts in the negotiation of settlement agreements as well as enforcement procedures through attachments, injunctions, and all other court procedures related to arbitration, including resisting nullity challenges.
LEX MUNDI MEMBERSHIP
Egypt of Lex Mundi – the world’s leading network of countries worldwide. As part of the Lex Mundi global network, we can provide our clients with preferred access to more than 21,000 lawyers around the world – all from a single point of contact. Individually, each Lex Mundi
unmatched depth and breadth. Working with other Lex challenging cross-border transactions and disputes.
INTRODUCING THE PRAETORS: DIFFERENT BY DESIGN, DISRUPTIVE BY CHOICE.
Multi-asset Executive Jets has the vision to deliver the ultimate experience in business aviation. Nestled on Florida’s Space Coast, where rockets and space shuttles have soared into the sky for decades, the company embodies a dynamic spirit of innovation.
Embraer’s newest family of aircraft, the Praetor 500 and Praetor 600, are the world’s most disruptive and technologically advanced business jets in their categories, bringing technology, comfort and performance to an entirely new level. The word itself—Praetor—comes from the
challenging the convention of what a midsize and super-midsize jet can do.
PRAETOR 500
A midsized business jet, the Praetor 500 is the fastest in its class to help save time and reach more destinations in the utmost comfort. Designed for innovators that dare to dream and push conventional limits, the Praetor 500 is a true corner-to-corner aircraft, able to quickly span the continent of North America with a nonstop range at long-range cruise speed of 3,340 nm (6,186 km). With an impressive reach and maximum endurance of nearly eight hours, it is the only aircraft in its class – the fastest, too – that can reach Europe from the U.S. west coast in one stop. From New York to Los Angeles, San Francisco to Gander, or Singapore to Beijing, the aircraft saves time and allows passengers to seize the day with more freedom.
PRAETOR 600
In the super-midsized category, the Praetor 600 is a cut above the rest. This revolutionary aircraft anticipates the future by disrupting the conventional notion of what a super-midsize business jet can do. The Praetor 600 delivers exacting value through forward-thinking offerings, giving best-in-class range and cabin altitude for enhanced comfort. The aircraft delivers a nonstop range of 4,018 nm (7,441 km) at a long-range cruise speed so you
New York, São Paulo to Miami, or Dubai to London. In fact, this is the only super-midsize jet that consistently delivers
RELIABLE TECHNOLOGY
Revolutionary, industry-leading technology combined
controls reduce workload and provide a safer, smoother capability. Also, for the pilot, the high-tech Rockwell technology with ergonomics and provides an instinctive interface to minimize workload and pilot fatigue. All of these technologies combined ensure a safer, more reliable trip for everyone on board.
In addition to enhanced safety measures, replacement wire make the aircraft much lighter and allows easier
allows the aircraft to have low takeoff and landing speeds, requiring less runway to operate and granting access to smaller airports.
In both Praetor aircraft, home-like Wi-Fi connectivity ensures a strong and reliable connection, so you never have to miss a beat. Embraer equips the aircraft with the very best in connectivity and includes the honeywell Ovation Select Cabin Management Suite, which provides full 1080P hD video streaming and immersive audio.
CLEAN CABIN ENVIRONMENT
Last year, in response to the pandemic, Embraer announced a series of breakthrough cabin enhancements: electric lavatory pocket door, and approved the use of MicroShield360 and Bacoban.
As new-generation aircraft, the Praetor 500 and Praetor 600 were designed with the latest technologies, including the ability to move 100% fresh air through the cabin. The 99.97% of all particles, such as bacteria, viruses, and fungi. Additionally, Embraer has tested and approved the use of coating systems that, when applied to aircraft interiors, continuously inhibit the growth of microbes on surfaces.
To further enhance the atmosphere of safety and cleanliness in the cabin, the company developed an electric lavatory pocket door for the Praetors, which comply with the latest cabin safety requirements. This new optional feature, which allows the passenger the comfort of opening the lavatory door by just pressing a button, is available for delivery in both new Praetor jets.
BEST CABIN ALTITUDE
to save time on arrival, but more importantly, they tout best-in-class cabin altitude to keep passengers feeling
(45,000 feet), they will feel as if they are only at 1,767 meters (5,800 feet). In addition, both cabins provide an ultra-quiet environment that is ideal for working, relaxing or talking amongst one another. Arriving to destinations feeling exhausted and tired is a thing of the past with the
feel sharp and ready to take on the day.
EMBRAER’S INTERIOR DNA
While the range and size of the cabin differ between the Praetor 500 and Praetor 600, the carefully designed interiors possess similar qualities due to Embraer’s interior DNA, which focuses on comfort and style. Both aircraft
and can be equipped with optional items including a microwave, conventional oven, refrigerator, coffee brewer, and elegant crystal china and silverware. With the Praetor 500, some of these features are optional. The Praetors display superior craftsmanship and meticulous attention
Spacious windows allow natural light to open the feel of the cabin, while fully reclining seats provide superior
With either aircraft, you have the ability to select
a package of Embraer’s latest interior developments.
and pick up the sparkle of the gold trim throughout the interior, along with inherently large windows to draw an abundance of natural light. In an elegant and sophisticated way, the aesthetics of this interior bring a simplicity to the mind and a relaxation found in no other aircraft.
Both the Praetor 500 and Praetor 600 are extraordinary leaders in their respective classes and provide the ultimate experience in business aviation – from advanced technologies to carefully designed interiors. Embraer’s motto for the aircraft is apparent in each detail: different by design, disruptive by choice.
OMAN LNG IN BRIEF
established by a Royal Decree in 1994 operating under the laws of the Sultanate of Oman. The company engages in the
and its by-product, natural gas liquids (NGLs). It undertakes project operations and related activities essential to liquefy, store, transport, and market Oman’s natural gas and deliver LNG to customers; aligned with the Government’s objective of diversifying the economy. The company operates three liquefaction trains – two owned by Oman LNG LLC and one by Qalhat LNG SAOC with a nameplate capacity of 10.4 million tonnes per annum (mtpa) – at its plant in Qalhat, South Sharqiyah Governorate.
PRODUCTION & EXPORTS
Oman LNG receives feed gas supplied from the Government
LNG, produced from Oman LNG’s three-train plant facility in Sur, is sold to high value markets in Asia and Europe, from which shareholders including the Government of Oman as a major investor, earn substantial returns for the economic and social development of Oman and is a key contributor to the welfare of the Omani citizens.
Oman LNG achieved a production rate of 10.4 million tonnes
impacting delivery and safety. Indeed, the Company has pressed this capacity further as it has embarked on major projects, such as the Plant Rejuvenation Programme, the Power Project and the Debottlenecking Project, all of which are running at full speed and all contributing to increasing
LNG has delivered 2,500 cargoes safety and reliably to various destinations around the globe.
OMANISATION
Since inception, Oman LNG has taken thorough steps in employing and retaining Omani nationals and providing a challenging working environment for growth and development in the global LNG industry.
The company continues to enjoy outstanding levels of Omanisation empowerment, buoyed by training and development efforts, which have been highlighted through various awards and recognitions received in the local,
Oman LNG’s unremitting efforts to develop and retain a highly skilled workforce.
Our commitment towards Omanisation remains intact with an Omanisation rate of 83% and embracing the advancement of women in our company to take senior positions. Oman LNG’s Omanisation unprecedented efforts
nine positions are occupied by seasoned Omani nationals.
The culture of fostering aspiration has led to a greatly empowered workforce. As the industry grows, and with it an appetite for fresh talent, we were pleasantly delighted to
SAFETY OF OPERATIONS
Across the global oil and gas industry, a great emphasis has been positioned for safety. The nature of a LNG plant prioritizes people as the most essential element to drive secure and safe operations. Extreme care and due diligence is adhered to, to ensure the risks are mitigated, harm to people and the environment prevented, to ensure our people go home safe, every day.
Safety tops our priorities at Oman LNG, as we continue to break safety milestones, which stood at over 35 million man-hours worked without Lost-Time Injury (LTI). What makes this achievement even more remarkable is that our record has not been broken even as we continue to deliver major operational and civil projects. Moreover, it is clearly evident that our staff and contractors take pride in meeting our high safety standards.
Oman LNG is making strides in tackling a tendency to complacency, through the Behaviour-Based Safety Programme. One of our largest challenges as a company is sustaining the robust safety culture, a task which demands that we stay vigilant to all health, safety and environment matters at all times.
MAJOR PROJECTS
Major Projects continue to support Oman LNG’s mission “To produce, market and deliver LNG safely, reliably and
with the Plant Rejuvenation Programme, that helps set Oman LNG up for maximum availability, at fullspeed. In addition, the Power Project has initiated the Engineering, Procurement and Construction (EPC) efforts.
Finally, Oman LNG is growing capacity through the debottlenecking project currently at design stage. Once completed, Oman LNG will add one million tonnes of LNG to our plant. Such initiatives generate value for Oman at
Oman LNG allocates 1.5% of its annual net income after tax to enhance the social welfare of the country through CSR, collaborating with a variety of entities including both public and private sectors, to enhance the quality of living in Oman. Oman LNG has always been accustomed to meet country’s expectations both in good and challenging times. This was clearly demonstrated when it spearheaded the contributions during bad times as such as cyclones and other severe weather conditions.
With the changes in the current external environment impacting the oil and gas industry at large, the resoluteness of the Foundation’s unique CSR model continued its CSR efforts unwaveringly in the Sultanate of Oman.
Going forward, the Foundation will continue to excel in CSR through actively seeking partnerships to further ground the investment arm and expand on building subject matter expertise through its centre of excellence
social investment initiatives, the Foundation persists to enhance the social fabric of Oman and aims to touch lives across the nation and beyond.
Oman LNG’s continuous contribution towards improving the society and its development through Oman LNG Development Foundation (ODF) is well known. Oman LNG Development Foundation is leading in touching lives, promoting and practicing CSR effectively as well
delivered covering every corner in the country in all aspects of life. More than 55,000 job opportunities created directly and indirectly from our CSR programmes. In light of these efforts, ODF was honoured at the with many accolades such by renewed local and international
Petroleum Economist.
INSIGHTFUL CONVERSATION WITH THE AWARD-WINNER OF BEST MULTI-ASSET BROKER 2021LEOPRIME
“Mr. Jaya Kumar the Board Member of LeoPrime Groups also adds that it’s indeed a great pleasure and honor for having been nominated for a number of awards and also feeling extremely elated for being awarded the ‘Best Multi-asset broker award 2021’. It’s all because of our focus on excellence and innovation in every step of our journey that helped us deliver award-winning solutions to our clients. I wholeheartedly dedicate this award to our valuable clients and the whole LeoPrime team. Thank you LeoPrime family. We made it”.
First and foremost we would like to thank International Investor magazine for acknowledging our win & also for showing interest in featuring LeoPrime in your highly esteemed magazine. And, we also would like to thank our valued clients and the whole LeoPrime team for making this possible. It is only because of them we stand here 2020-2021.
LeoPrime is the next-gen Multi-asset broker that brings you powerful trading services including industrybest prices.
COULD YOU TELL US ABOUT LEOPRIME & THE RANGE OF SERVICES THE FIRM OFFERS?
LeoPrime is a globally recognized Forex and commodities intermediary. Being the next-gen multi-asset broker for years, we bring you powerful trading services that include at the best prices. LeoPrime is regulated by FSA and offers Tightest Spreads, Instant Withdrawal & Deposit, Unexpected Leverage, high Volume & Liquidity, and userfriendly trading platforms.
TELL US ABOUT YOUR CLIENTS & HOW GEOGRAPHICALLY SPREAD ARE THEY?
Our clients are located all across the globe. We mostly cover all the Asian, Middle East, and South African countries.
WHAT ARE THE OUTSTANDING STRENGTHS OF YOUR FIRM?
It is our quality services that make us stand a class apart. that curates every service carefully keeping in mind the client’s demands. Our unbiased services include- Instant executions, automated withdrawals, and powerful trading platforms that play a major role in providing a hassle-free trading experience to our clients.
BEFORE MOVING ON FURTHER, LET’S TALK
PANDEMIC ON YOUR FIRM AS WELL AS YOUR CLIENTS?
We never expected that something like COVID-19 would take over the whole world. But still, with the help of our resilient technology, we were able to manage all our work
Just like everybody else, we were also not able to predict the impact of COVID-19, and we too faced many hurdles. But, with LeoPrime’s innovative technology we were able to overcome the hurdles & smartly help our clients to fully access the market and make trades with ease, even from multiple locations. In fact, the number of registrations increased and our business surged, and all of this was that we provided our clients with.
IT SEEMS THAT YOU HAVE RECENTLY LAUNCHED
Application’ which is doing great among our clients. The app is been meticulously crafted to serve all our client’s needs. Clients can open a trading account in less than a minute, perform funding/transactions instantly using multiple payment gateways we provide, set leverages, smartly manage their personal accounts, and everything is highly secured.
WHY DO YOU THINK YOU WERE CHOSEN AS THE
all assets under one roof. From having one asset per
always stays ahead of the competition because of its client based services. There is always no compromise in the quality of services we provide. We stand a class apart because we provide tightest spread, unexpected leverages, ultra-low latency execution, deep liquidity, multiple account types with minimum deposits, and the best pricing.
PLANNING TO TAKE UP YOUR BUSINESS TO THE NEXT LEVEL?
We are actively working towards that. We are already conducting various campaigns, promotions via social media, interesting demo contests & cash back contests business.
Once again our whole LeoPrime team would like to thank International Investor magazine for taking the effort to acknowledge our win & feature us in your reputed magazine.
INTERNATIONAL INVESTOR AWARDS WINNERS 2021
COVID-19 change the way businesses work, the investment community had to take a step further and reinvent in many ways. In order to recognise the effort behind every individual and company during this time, we selected champions from a wide range of businesses.
The awards are open to any business, large, mid-size or
rate service, opportunity, innovation and performance. The following pages celebrate organisations that drive forward the world of international business and investment.
SHALAKANY
Corporate Law Firm of the Year // MENA 2021
With a century of experience since its establishment
East. With over 70 lawyers, counselors and paralegals, including 11 partners and a support staff of over 80
quality legal services to a broad base of multinational, regional and premium local clients.
across almost all practice areas by the internationally recognised legal ranking organisations.
quality services across a broad spectrum of practice, including anti-dumping and trade disputes, antitrust and competition, arbitration, aviation, banking and
commercial, agency and distribution, intellectual property, insurance, labour and employment, litigation, manufacturing, mergers and acquisitions, oil and gas, privatization, projects and construction, real estate, tax, telecommunications and information technology, and tourism, hotels, travel and services.
ACCESS BANK
Sustainable Bank of the Year // Africa 2021
Access Bank Plc. is a leading full-service commercial Bank operating through a network of more than 600 branches and service outlets, spanning three continents, 14 countries and over 36 million customers. The Bank employs 25,000 people in its operations in Nigeria and has subsidiaries in Sub-Saharan Africa and the United kingdom (with a branch in Dubai,
Lebanon and India.
Listed on the Nigerian Stock Exchange
a strong retail customer franchise and digital platform with deep corporate banking expertise and proven risk management and capital management capabilities. The Bank serves its various markets through four business segments: Retail, Business, Commercial and Corporate. The Bank has over 900,000 shareholders (including several Nigerian and International Institutional Investors) and has enjoyed what is arguably Africa’s most successful banking growth trajectory in the last twelve years. Following its merger with Diamond Bank in March 2019, Access Bank became one of Africa’s largest retail banks by retail customer base.
As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is
and socially relevant, helping customers to access more and achieve their dreams.
AL HAMRAA INSURANCE COMPANY
Best Insurance Company // Iraq 2021
which started operating in 2001 providing advice and professional assistance to clients to protect their property, assets, employees, earnings, and liabilities on a cost-effective basis.
hamraa Insurance Company has been a challenging player among Iraqi insurance
sector in general. hamraa Insurance has provided professional consultancy and advice to both corporates and individuals for the past years to protect their assets, property, liability, and earnings. While doing all the latter, the company has
the highest customer base from both corporates and individuals.
Website: www.alhamraains.com
BARENTS RE
Most Trusted Reinsurance Company // Global 2021
Barents Re is a leading independent reinsurance group domiciled in the Cayman Islands. Established in 1996, Barents Re has a well-established presence in Europe, Latin America and the Middle East. This translates into more than 650 reinsurance connections in 75
The company provides a wide range of niche and specialty reinsurance products to property and casualty insurers. Our vision is for Barents Re to become an integral part of the insurance value chain. The expertise of our specialty underwriting teams and their knowledge of our markets and products enables us to offer innovative solutions to our clients.
Barents Re does not participate in every type of business because underwriting discipline is fundamental to its success. On the commercial side, Barents Re is especially strong in Bonds, Energy, Financial Lines, Construction & Engineering, Property, Marine Cargo, Life and Accident & health. Barents Re is also a growing presence in the Consumer arena programs. The Barents Re portfolio is
BVI FINANCE
BVI Finance is the voice of the British industry; marketing and promoting its products and services, as well as managing and maintaining its excellent
centre. Established in 2002 as the BVI International Finance Centre, the company was re-branded to BVI Finance in 2015. The BVI has established itself as the leading
only due to its best-in-class innovative regulatory regime and business-friendly environment, but also through BVI Finance’s presence at conferences and trade events in our core and emerging markets, and support in maintaining a strong relationship with key stakeholders both locally and internationally. To retain the jurisdiction’s competitiveness, BVI Finance partners with local and international practitioners, media outlets and investors in emerging and traditional markets.
CROWNS AGENTS BANK
regulated, wholesale provider of foreign exchange, international payments, cash management, cross-border pensions and
emerging markets. The bank also operates in OECD countries and the developing experience spans almost two centuries. This long history of commitment
extensive network of global partners, strong international relationships, scalable services to facilitate trade and commerce between its focus markets. It provides a key link to moving money where it’s needed, for governments, payment companies, pension schemes,
development organisations.
commitment to opening and maintaining safer cross border trade corridors with frontier and emerging countries with a
inclusion in the process. The work we do has an impact felt by people everywhere. We help local banks engage on the world stage and support emerging economies
inclusion.
to economic development projects. Since inception, we have concentrated on creating markets, products and long
Our developmental focus and history lies in the genes of our founding principal, during his career at the International to create its domestic sovereign bond market. This was further strengthened when he designed and successfully closed
securitization transaction for the Federal the following developmental feats:
• Set-up of Lagos-Homs, mandated by Lagos State Government
• Set-up Nigeria Mortgage mandated by the Federal Government of Nigeria
• Mortgage Warehouse Funding by the Federal Government of Nigeria and the Mortgage Bankers
https://dlm.group/
DUNN LOREN MERRIFIELD GROUP
FOREX4YOU
Forex4you was born out of our vision to create accessible and transparent trading for traders globally. Launched in 2007 by E-Global Trade & Finance Group, Inc. Forex4you is an online trading platform for the trading of more than 150 instruments using e-payment systems. Following that, with the advent of social trading, Share4you was launched in 2013.
Share4you is a copy trading service designed to democratise trading knowledge and performance. It enables users to copy the trades of experienced traders and learn from their trading strategies. For over a decade, we have grown from strength to strength. We have empowered more than 2 million trading accounts worldwide. To better serve our international clients and partners, our 24/7 customer service team is multilingual and stands ready to help.
To learn more about us, visit www. forex4you.com
FUNDCALIBRE
FundCalibre is an independent online fund ratings agency, whose research is freely available to all investors. Established in 2014, 66% of its board and 20% of its research team is female.
With more than 3,500 funds and investment trusts available in the UK, daunting task. That’s where FundCalibre comes in. The research team analyses funds and trusts that are widely available it believes have the most skilful managers.
Using a proprietary screening tool, the team is able to separate performance achieved by market movements from the value added by the manager and assess how consistent and repeatable their skill could be. Funds passing each stage of the analysis are awarded an Elite Rating.
Most importantly, investors can browse FundCalibre with the comfort of knowing that every manger has been interviewed, every fund has undergone a rigorous research process, and there is no pay to play: FundCalibre is truly independent and its rating are award on skill alone.
Web link: www.fundcalibre.com
you in the trading world.
markets, investors try various means to achieve effective returns in a relatively short period of time. FX trading grows by more than 500% per year, due to the exciting opportunities it offers to investors, and its accessibility. This huge growth led to a period of development bereft of any controls and supervision. However recently, CMB, authorized by the legislative, introduced substantial regulations, which have yet to be put into force in many foreign countries. This provided Forex markets a respectable place and standing in Turkey.
Regardless of the level of the trader, we offer a suitable trading platform, Android and iPhone applications to make your account accessible on anywhere on the globe, a web based trading platform
trading platform package accessible with
to access their accounts and trade freely through the application of their choice.
Our client’s satisfaction lie at the heart of our world, and it makes us race against ourselves in this most important quest.
GCM YATIRIM
INGOT BROKERS
Most Trusted Forex Broker // Europe 2021, Most Trusted Forex Broker Asia 2021, Best Online Trading Support // Middle East 2021
Established in 2006, INGOT Brokers is offers investors worldwide premium trading opportunities across a variety of stocks, commodities, indices, ETFs and cryptocurrencies.
trading process by providing investors with quick account setup; facilitated trading conditions; easy withdrawals and deposits; multilingual customer support; designated account managers; comprehensive educational materials; and user-friendly trading platforms.
INGOT Brokers is regulated by the Australian Securities and Investments Commission (ASIC) and Saint Vincent and the Grenadines Financial Services Authority (SVGFSA), thus guaranteeing clients’ peace of mind knowing that their deposits are safe and secure at all times.
ISP Best European Fund Launch // Global 2021
services boutique founded in 1993 that services corporates, banks and investors through a unique blend of latest technology, high-touch service and the deep expertise of our interdisciplinary teams.
ISP Group AG specializes in Structured Credit, Fixed Income and Structured Products and offers Paying Agent, Placement Agent, Custody and Wealth & Asset Management Services. We operate as a licensed securities dealer under the regulations of the Swiss Financial Market Supervisory Authority (FINMA), the Israeli Securities Authority (ISA) and the hong kong Securities and Futures Commission (SFC).
ISP Group is located in Switzerland, Israel, Liechtenstein and hong kong and has full access to European, American, Asian and Israeli institutional markets. Further information about ISP Group AG can be found at ispgroup.com
MCNAMARA CITIZENSHIP SERVICES INC
Best Citizenship By Investment Agency // Saint Lucia 2021
McNamara Citizenship Services Inc. (MCSI) is an approved Authorized Agent (AA) under the Citizenship By Investment Program of St. Lucia. MCSI offers a full service advisory Agency providing all the services associated with acquiring citizenship, and we aim to use our intimate knowledge of the St. Lucia program to guide potential client’s through the process of obtaining citizenship to ensure the highest success rate with clients applications.
MCSI is a subsidiary of the law Firm of McNamara & Co. which is the largest Law Firm on the Island of St. Lucia and the team at MCSI possesses a wealth of experience making it one of the island’s
MCSI is a family based operation that continues to pride itself and build upon the core traditional values of McNamara and Co. which are rooted in excellence and professional conduct with a rock solid service provider.
Please visit our website on: www.mcnamaracitizenshipservices.com
