The key outcomes were unveiled by eHosting DataFort (eHDF), a regional  managed IT services provider and a member of TECOM investments, which initiated the study in conjunction with UAE-based BCM consultancy Continuity and Resilience.

Conducted across nine Middle East countries including the UAE, Saudi Arabia, Oman, Kuwait, Bahrain, Qatar, Egypt, Jordan and Iraq, the report covered various industry verticals such as financial services (37%), IT/Telecom (16%) and government (10%).

The study measures the levels of BCM maturity and trends along with the importance of implementing BCM for driving operational efficiency within organisations in the Middle East.  eHosting DataFort aims to leverage the outcomes of the survey to identify improvement areas and facilitate the effective implementation of disaster recovery (DR) solutions in the region.

According to the survey, 16% of the respondents reported at least one significant business disruption during the last year, citing hardware/software failures, power failure, application infrastructure failure and site outages as the top four reasons.

The survey respondents also indicated that IT infrastructure for disaster recovery, as well as training, awareness building, software and licenses are the key investment areas for the implementation of BCM. These investments could, however, be reduced by working with a third-party IT service provider to gain access to world-class data centres, state-of-the-art infrastructure and high-quality managed operations.

The report found that close to 21% of the organisations have had a robust BCM programme in place for the past three years, while 14% have started maintaining and exercising their BC plan. The rest (65 per cent) of the organisations either have no concrete plans to initiate a BCM programme or are still at different stages of implementation in the BCM lifecycle.

Out of the respondents that are still in different phases of the BCM lifecycle, around 50 per cent conduct IT-DR drills. This outcome underscores the fact that some organisations are implementing IT-DR without necessarily adopting a holistic BCM program.

The survey further revealed that 57% of respondents rated their organisation’s BCM readiness as average or below average, 51% assessed their organisation’s IT DR readiness as average or below average, while 54% of respondents rated their organisation’s crisis management readiness as average or below average. In addition, the report also found that 65% of the respondents were not very sure of the overall reliability of their current IT backup and recovery systems and procedures.

(L-R) Shahram Ghaem Maralani, Manager for Middle East, East Africa & Caspian Countries, DNV Business Assurance; Yasser Zeineldin, CEO of eHosting DataFort; and Dhiraj Lal, Executive Director for Continuity and Resilience at the Second Middle East Business Continuity Management (BCM) survey report launch.

Interestingly, some industries indicated higher levels of maturity than others. For example, only one-third of the respondents outside the financial services sector felt that they have high levels of IT-DR readiness as compared to 72% of the respondents within the financial services sector.

Yasser Zeineldin, CEO at eHosting DataFort, said: “Business Continuity and Disaster Recovery have gained significant interest in the region as organisations prioritise the need for data protection and long term viability, commitment to good corporate governance and adherence to overseas regulations. The awareness and need for both BCM and DR has definitely increased in the minds of senior management. However, the maturity of BCM and DR readiness still needs to improve and the report indicates that companies are inclined to seek the expertise of service providers for this purpose.

Dhiraj Lal, Executive Director at Continuity and Resilience, said: “The survey has revealed that BCM readiness in the region needs improvement and a number of organisations in the Middle East are, therefore, investing in business continuity solutions and working towards achieving certifications such as BS25999. The region is expected to catch up with the rest of the world when it comes to BCM investments and this is being driven by the need to minimise customer disruptions in the eventuality of a disaster.”

DIFC has signed a Memorandum of Understanding (MOU) with TheCityUK to share financial, legal and regulatory expertise, collaborating on areas of mutual interest including closer links on education, training and qualifications. The agreement is expected to provide a significant boost to capacity building in DIFC given its ambitious growth plans.

The MOU has been signed by Chris Cummings, Chief Executive of TheCityUK, and Abdulla Al Awar, Chief Executive of DIFC Authority. The MOU was signed in the presence of His Excellency Abdullah Mohammed Saleh, Governor of the Dubai International Financial Centre and the Lord Mayor of the City of London.

Abdulla Al Awar, Chief Executive of DIFC Authority said: “Our status as a global hub of finance is reflected through our world-class infrastructure and common-law jurisdiction, which provides a stable platform for global and regional firms to access opportunities in the region’s emerging markets.

Another factor in our advancement is the pool of qualified professionals present in the centre, both attracted from around the world and developed by leading British academic institutions present in DIFC. Our growth prospects for the coming five years include a major increase in the size of our workforce, which presents a tremendous opportunity for young and developing professionals who are interested in exposure to the worlds emerging markets, and also for the institutions present in the centre”.

“There is no doubt that UK firms will contribute to our growth by bringing their specialised expertise, and we are committed to providing them with the gateway to opportunities in the region. This MoU will pave the way to continued and mutually-beneficial cooperation”

Chris Cummings, Chief Executive, TheCityUK said: “We see the agreement with the DIFC as an important gateway to the Middle East for UK firms, which will generate jobs and growth for both nations. This will be achieved by helping to build its international financial centre – so creating further opportunities for UK firms as the DIFC grows to connect the region’s emerging markets with markets around the world. UK based financial and related professional services expertise is already in high demand in the region so this is good news and will stimulate growth in the UK.”

Alderman David Wootton, Lord Mayor of the City of London and President of TheCityUK’s Advisory Council said: “The UK has longstanding ties with the DIFC. Both TheCityUK and the DIFC share common goals in ensuring that the financial and professional services sector can participate in a well regulated, transparent and competitive global market. This MOU is a reflection of our ongoing commitment to work in close partnership with the DIFC across a range of different sectors for the benefit of all involved.”

The DIFC is a financial and federal zone administered by the Dubai Government. The DIFC has 848 active registered companies of which 18% are from the UK. Sector specialisms include: banking and capital markets, insurance, asset management and professional services. Islamic finance is a particular strength. TheCityUK and the DIFC will team up on joint events to promote London and Dubai as key areas to conduct financial and related professional services and attract investors. TheCityUK will also provide advice to the DIFC on how to establish an equivalent body within Dubai to promote the UAE financial services industry.

The initiative is supported by UK Trade & Investment, which works with UK-based businesses to ensure their success in international markets, and encourages the best overseas companies to look to the UK as their global partner of choice.

As a percentage of world trade, the GCC today represents about 3% of imports and 5% of exports. Middle East seaports are expanding vigorously, in line with this trend. Over the past few years, a total of USD 46.5 billion has been committed to develop the 35 ports in the region.

There are two major reasons driving this growth. On the one hand, the favourable geographic location of the GCC countries provides them with a strong opportunity to serve as hubs not only along the Europe–Asia shipping lanes, but also for northern and central Africa. On the other hand, the region’s ongoing economic diversification has meant the upgrade of existing infrastructure across all transport modes. On both these counts, the benefits accruing to the region are long-term in nature.

The emergence of India and China has presented the GCC with substantial opportunities as hubs. As a result, GCC ports need to ramp up capacity, not only to cater to their own increasing needs, but also to develop a hub strategy. Most of them are ideally placed as a trade platform between Asia and the Far East on one hand and the West, Central Europe, and Africa on the other.

The top 10 infrastructure projects currently underway in the Gulf alone account for over USD 400 billion. Five of these projects are located in the UAE. These include the Saadiyat development, the Capital District, Yas Island and Business Bay developments. Such major infrastructure investments have led to a major growth in population as employment and business opportunities are on the rise.

Since the turn of the millennium, the UAE’s total population has more than doubled, to over eight million, while per capita GDP has increased by more than 100%, to over USD 40,000. Meanwhile, the USD one trillion economy of the wider Gulf region, which has expanded three-fold in the past five years alone, is set to emerge as the fifth-largest in the world by 2020. In this period, the UAE has emerged as the most vibrant distribution and consumption hub within the Middle East. In fact, seaports in the UAE account for 61% of the GCC trade volume and this share is expected to rise with new capacity being added

To continue this growth, the UAE and the region at large will need significant modernisation of its infrastructure. Ports and sea freight are critical to this modernisation.

All the above factors point towards the importance of focusing attention and taking stock of the critical issues facing this part of the infrastructure and the challenges to sea trade. The World Ports & Trade Summit is one such platform, which has been conceived with the goal of addressing all the key issues and themes relating to ports and sea trade besides acting as the leading platform for exhibiting the latest products and services within the sector. It is only fitting that such an event be held in the emerging hub of global trade – here in the UAE.

The first World Ports and Trade Summit hosted in Abu Dhabi in 2011 drew over 3,000 delegates from 52 countries, including board presidents and chief executives from sectors ranging from ports, cargo and logistics operations, infrastructure development to investment finance.

By bringing together key decision-makers and solutions providers across a series of brainstorming and networking sessions, the summit will offer the latest project updates and the opportunity to influence investment and purchase decisions in the fast-expanding ports and sea trade sector in the Middle East. To highlight the industry outlook and latest trends in maritime trade and investment the summit will have three dedicated forums, featuring cargo owners, shipping companies, third-party logistics providers, freight forwarders, port authorities and business consultants.

The substantial investment being made in developing the ports and logistics infrastructure in the UAE and the Middle East will be under the spotlight in the Summit, including ADPC which is developing the ambitious Khalifa Port, the only automated facility in the region and the adjoining Khalifa Industrial Zone Abu Dhabi (KIZAD).

The first phase of Khalifa Port and KIZAD will be operational by Q4 2012 offering a unique business and industrial environment with world class technology, multi-modal transport and distribution facilities and easy access to international markets.

The World Ports & Trade Summit 2012 will be hosted in Abu Dhabi from April 2^nd to 4^th. Jointly organised by Turret Media and Seatrade, the Summit is sponsored by Bechtel, DNV, Emirates Aluminium (emal) and supported by: Abu Dhabi Terminals, Department of Economic Development, Abu Dhabi Chamber, UNIDO and The International Association of Ports and Harbors (IAPH).

His Excellency said this would in turn “develop the legal and regulatory frameworks for the financial markets and adapt them according to the markets’ needs and circumstances in line with the interest and requirements of the Gulf common market.”

There was also a clear call to up-skill local talent and workforce. “We all are aware of the importance of the regional human capital for the advancement of the securities markets. This requires upgrading the skills of the Gulf workforce and providing it with specialised professional skills that would promote the securities markets’ contribution in the national economies and enhance the Gulf populations’ capacities, ambitions and needs,” His Excellency said.

The Thomson Reuters Summit, hosted 20^th to 21^st February, Muscat, in the Sultanate of Oman, attracted regulators from across the region together with 300 senior compliance and regulatory professionals from the financial services industry to discuss emerging themes around risk management, anti-money laundering, financial crime and corporate governance and to promote collaboration between regulators and financial service providers in the region.

Abdullah Salem Al-Salmi, the executive vice president of the Capital Market Authority, said: “The Capital Market Authority and Oman Centre for Corporate Governance is pleased to host this event with Thomson Reuters GRC. It is vital that stakeholders across the Arab region collaborate and work together to speak with one voice and, this forum is an important opportunity for us to promote this.”

Keynote speaker, Ranjit Ajit Singh, Chairman, EMC Secondary Markets, International Organisation of Securities Commission (IOSCO) & Managing Director, Securities Commission Malaysia, spoke about systemic risk in the context of financial stability. He challenged the role of securities regulation in identifying and managing systemic risk, suggesting that systemic risk was still not adequately defined and that more effort is required for specific monitoring and supervision of the development and transmission of risk. He called out clearing houses as a particular area of vulnerability. “The risk around clearing houses hasn’t been as much of a focus as it warrants,” Mr Singh said.

Singh added that corporate governance was becoming much more relevant and that the markets should be architected to instil self-discipline. “We need to demonstrate regulatory discipline; market discipline and self discipline,” he said.

The global financial crisis was a common thread across the event, with Errol Kruger, Managing Director, Supervision & Authorisation, Qatar Financial Centre Regulatory Authority, noting that the high-risk nature of the post-crisis era was “the new normal”.

Mark Schlageter, President, Thomson Reuters Governance, Risk and Compliance said: “Thomson Reuters is honoured to have hosted this event in association with the Oman Centre for Corporate Governance, Capital Market Authority. We recognise that collaboration among financial system stakeholders is essential for a more transparent market, and by encouraging dialogue between regulators, their constituents and international experts, this kind of event aims to promote the long term growth and stability of regional markets and economies”.

In its recent analysis on food security, Dubai Chamber presented a number of innovative solutions through which UAE investors could build lasting relationships in key food producing countries. The solutions listed are the provision of jobs in the farming communities in investments in Asia and Africa.

Secondly, contribution to health and education facilities in the areas around the farmland investment and thirdly, by helping in improving crop yield and productivity through the use of latest agricultural technology and efficient ways of managing crops in developing countries.

Elaborating further, the analysis points at the use of drip technology to improve efficiency of water usage as well as the use of better yielding varieties and mixing of crops to increase productivity of the land.

The report also states that investment in farm-to-port road infrastructure for larger land investments could reduce wastage in transport and the time it takes to transport perishable goods to ports in developing countries as logistics and time are important factors that contribute to securing the UAE’s food supply, it says.

Global food commodities witnessed a secular bull market (an era of generally rising prices) starting around the year 2000. According to an OECD policy brief (August 2008) Rising Agricultural Prices: Causes and Consequences, the increase in the food prices can be attributed to increase in speculation in commodities as investors look for real alternatives to volatile financial markets.

Another cause of the rise could be the long-term decrease in the value of the US dollar. Other possible causes could include lower crop yield in developing countries and the growth of developing economies with large populations fueling demand for more and better quality food. These long-term causes of food price increase could be expected to remain in place for the foreseeable future, with possibility of short and medium term corrections.

There has been a gradual but consistent increase in global demand for key commodities. The increase in global demand together with the secular increase in the prices of important commodities has key implications for UAE importers of food. This implies that they must continue to look to secure sources of food supply to meet the UAE’s own increasing demand.

The Dubai Chamber analysis further states that while it is not known how much and for how long food commodity prices will continue to rise, under one scenario it is possible that the current secular bull market in soft commodities could continue for some years. Therefore, from a pricing perspective UAE investors in overseas farms should be aware of the price rise in agricultural land, fertiliser and water.

According to the analysis improved efficiency can mitigate some of the impact of these price increases on cost. Furthermore, UAE companies using imported food could mitigate the risk of an era of high and possibly rising prices by entering into long-term fixed-price supply contracts with their suppliers.

The upward cycle in commodity prices has been marked by large corrections, which could also create opportunities to lock into lower prices. This analysis therefore shows that current and future developments in the international food commodity market bring with it both risks and opportunities, which could be exploited by astute businesspeople.

The analysis explores the causes and possible future outlook regarding global food prices which have witnessed significant increases over the last decade as these rising price trends are relevant for the UAE to note since it imports much of its food requirements, therefore it’s important for the importers to seek secure sources of food supplies to meet the growing demand in the country.

It is worth noting that according to Trademap.org, the UAE imported about USD 462.14 million worth of meat and edible offal of poultry meat and about USD 1.25 billion edible fruits, nuts, peel of citrus fruits and melons in 2010.

“GCC as a region has adopted many best practices, including established best practices and standards like ISO 27001, ISO 20000, ITIL, CMM and COBIT,” said Biswajeet Mahapatra, research director at Gartner. “Most organisations are aware of the benefits they can derive by adopting these standards and are eager to adhere to these best practices. The primary reasons for adoption are improvements of existing processes and adherence to best practices worldwide, and not for the certificate. This is key because the entire objective becomes a process improvement exercise and not a mere certificate process, which becomes relevant only during the audit period.”

GCC companies that traditionally have not been mindful of cost have become more cost conscious and are looking at ways to calculate the ROI of their investments in IT. Outsourcing has become a common practice without regard to its effectiveness, but the focus has shifted toward ensuring that outsourcing is the right strategy. Virtualisation is a commonly adopted practice in most of the large enterprises in this region.

“Many companies have completed their virtualisation and outsourcing initiatives, and are now looking for new technologies and delivery systems. Cloud appears to be a viable option for most of them, although the primary reasons vary from organisation to organisation,” said Mahapatra.

Public cloud will take a few more years to evolve and get widely accepted, however some very large enterprises have already started experimenting with private clouds. Very large enterprises have started porting noncritical applications and testing their environments for cloud readiness. Private cloud adoption by large enterprises is expected to grow rapidly during the next couple of years.

“Cloud is looked upon as a solution that is not less expensive, but that makes the environment more agile. This proves that CIOs in this region are aware of the actual benefits of cloud and have been vigilant and planning well before going in for large-scale cloud adoption,” said Mahapatra.

Gartner Middle East CIO Leadership Forum 2012

Gartner analysts will discuss critical business, technology and leadership strategies at the Second Annual Gartner Middle East CIO Leadership Forum 2012 to be held in Dubai, UAE on 27^th – 28^th February 2012 at the Raffles. For further information about the Gartner CIO Leadership Forum, please visit: http://www.gartner.com/technology/summits/emea/cio/

Additionally, close to 40% of people report banking online on a monthly basis. Google commissioned the study into digital purchasing, researching and banking behaviours as part of its commitment to developing the digital ecosystem in the UAE.

“People across the world search on Google for information billions of times a day. The stats show that Middle East and North Africa region is a fast emerging market with the searches per day showing a growth rate of 25% year on year, having the UAE among the fastest countries in search activity,” said Mohamad Mourad, Google Gulf regional manager. “The results of this study along with the trends of search activity in the UAE implies that companies in the finance and banking industry should enhance their presence on search engines to provide their customers base with the most relevant information about their products.”

The study showed that while consumers mostly prefer to purchase finance products offline, much of the research done happens online, with 52% of the 1000 people surveyed saying they used a search engine to search for product information.

While the UAE as a whole is digitally savvy in terms of research, conservative purchasing behaviour was observed, with respondents only buying, on average, 1.2 finance products in the previous 24 months, indicating the digital finance sector has ample room to grow in the coming years, and that companies would well to increase their online presence to attract customers.

In terms of online banking, the internet is becoming a popular channel for processing banking transactions, with four out of ten respondents engaging in at least one online banking transaction on a monthly basis. Paying bills, transferring money, and keeping an eye on account balances and account transactions are the most popular online banking activities, and while the vast majority of users access their online banking system via stationary internet, nearly 30% report using some kind of mobile device to engage in online banking activities, displaying strong growth potential for mobile banking and finance applications.

“The pace of innovation in search continues to accelerate and today, we’re making serious strides towards a knowledge engine,” continues Mourad.  “More engineers are working on search today than at any time in the past to achieve our goal to help people convert data and information into knowledge. We conducted the UAE-focused deep dive report to help companies get insight into the industry online trends and provide them an opportunity to make informed decisions about investing in the future.”

The research was undertaken by market research company TNS Middle East & Africa with the target group being decision makers and influencers for the purchase or research of financial products.

Called “The Entrepreneur”, the show is yet another first from du in the UAE. It is proudly a homegrown entrepreneurial reality TV show that intends to empower entrepreneurs to venture into creating new businesses in a sustainable manner. Conceptualised by du, the show is aimed at both existing ventures that need recapitalisation for growth as well as high impact business ideas requiring start-up capital.

“The Entrepreneur” is to air on Dubai One, a part of Dubai Media Incorporated, as the exclusive broadcaster and du has commissioned the internationally acclaimed Sony Pictures Television Arabia as the producer of the show.

Unveiling the show, Hala Badri, Executive Vice President, Brand and Communications, du, said: “We are convinced there are many good ideas out there which need to be heard and, which need to be promoted. The UAE is brimming with fantastic entrepreneurial talent which just needs a platform to take it to the next level. “The Entrepreneur” aims to empower and support the new breed of UAE entrepreneurs that build new enterprises which are innovative, sustainable and, most importantly, contribute meaningfully towards the social development of communities. This truly is a once in a life time opportunity, and for those with big dreams, I would say – go for it!”

Entries open February 21st and interested applicants can visit www.theentrepreneur.ae to submit their applications. The last date for submission of entries is 31^st March 2012.

The primary evaluating panel comprises UAE-based personalities who have trod the path to success and are eminent in their chosen field of work today. They will be assisted during the initial stages of evaluating entries by Ernst & Young. The judging panel will consist of four individuals:

-          Abdul Baset Al Janahi, Chief Executive Officer, Mohammed Bin Rashid Establishement for SME Development

-          Nisreen Shocair, President, Virgin Megastore, MENA

-          Muna Al Gurg, Director of Retail, Easa Saleh Al Gurg Group (ESAG)

-          Yogesh Mehta, Managing Partner, Petrochem Middle East

du officials with the judging panel at the announcement launch of "The Entrepreneur"

“The Entrepreneur” will be aired on television channel Dubai One later this year, with eight episodes, each lasting 30 minutes.

About the show

- The competition is open to all UAE residences above 18 years old and who have a registered company in their name. NGOs, societies, and associations are also welcome to submit their innovative business ideas.

- Shortlisted contestants from across the country will be invited to participate in an audition day, where they will be required to pitch their ideas/product/business infront of judges.

- After the final round of audition only 10 best contestants will be selected to be on the show and they will battle it out in the final round of challenges.

- On the final episode, only one deserving winner will walk away with AED one million in cash plus professional services and support towards their business in terms of marketing, mentoring, premises and other logistical areas to assist the business.

The research surveyed over 16,000 senior business managers around the world and it is believed to be the first time that independent research evidence has validated the causal connection between flexible working (time and/or place of work) and improved productivity/revenue generation.

Respondents also report feeling more energised and motivated thanks to flexible working (73%), perhaps indicating why they are able to become more productive and generate more revenue. Flexible working, by improving worker morale and health, is therefore also taking on the important role of talent retention tool, providing businesses with a valuable way of rewarding and attracting resources.

Other interesting findings are:-

- 81% of respondents declare that they work more on the move than they used to.

- 62% of respondents say that workers in their company feel healthier thanks to flexible working.

- 92% of respondents expect a surge in the number of people that go part-time at some point in their career path.

- Globally small businesses have embraced flexible working more readily than large with 80% of workers saying that their company works more flexibly than it used to compared with 68% of large business workers.

Mark Dixon, CEO at Regus notes, “Technology and network improvements as well as worker demands for a better work/life balance have driven flexible working to become the norm rather than the exception. This survey confirms the business case for flexible working revealing that global businesses see increased productivity and greater revenue generation as directly linked to flexible working practices.

“Business people are also working on the move more than they used to, making the availability of work centres in every city an increasingly attractive proposition, particularly to small businesses that cannot rely on a network of company offices when they leave their headquarters.

“In addition to these benefits staff report feeling healthier, more energised and more motivated which in turn means that staff are happier in their jobs, more loyal and less likely leave. As workforce expectations and demands change part-time arrangements are therefore becoming more common not only for freelancers, working mums and the working elderly, but also generation Y employees going straight into multi-job employment,” he said.

The acquisition of Aureos strengthens Abraaj Capital’s position in the emerging markets private equity landscape and enhances its global scale.  The combined entity will have approximately USD 7.5 billion in assets under management, a presence in over 30 countries across all global emerging markets, and 153 investments managed by a seasoned team of over 150 investment professionals with unmatched local expertise.

With an operational presence in over 20 countries, USD 1.3 billion in funds under management and over 250 deals completed in the SME segment in the last two decades, Aureos has built a reputation as the leading emerging markets private equity manager focused on SME investing, combining local insight, extensive proprietary networks and on the ground presence. Through a hands-on engagement model, Aureos has successfully enabled its portfolio companies to scale up their businesses locally and regionally, and deliver value to shareholders and community stakeholders.

The acquisition also brings Aureos together with Abraaj’s existing USD 650 million SME platform, Riyada Enterprise Development (RED), which is focused on the MENA region. The transaction will create the world’s largest SME focused private equity group targeting SME investment opportunities across the high growth markets of Asia, Africa, Middle East and Latin America.

While  Aureos and RED will benefit from the synergies of being part of a common platform, and operate under the single brand Aureos, all Aureos and RED funds will continue according to their existing fund mandates and investment guidelines. The expanded Aureos platform will retain its inherent structure and team within the Abraaj Group.

Making the announcement, Arif Naqvi, Founder and Group Chief Executive, Abraaj Capital said, “This is a very exciting opportunity for Abraaj Capital and enables us to further extend our leadership position in emerging markets. Aureos is a globally respected private equity firm with a dedicated team of investment professionals who have extensive experience and knowledge of the markets they invest in, with a geographical footprint totally complementary to Abraaj with no overlap. Both Abraaj Capital and Aureos are home grown emerging markets private equity firms with a similar philosophy and shared values. This acquisition is an important step in our expansion into Latin America, South East Asia and Sub-Saharan Africa and a new chapter in the Abraaj Capital story”.

Sev Vettivetpillai, Chief Executive Officer, Aureos said, “The integration with the Abraaj Group is a testament to Aureos’ success and investment proposition in the high-growth economies of Asia, Africa and Latin America. It further validates and strengthens our business model and will provide us with access to greater resources, tremendous synergies in the back office, new markets, and compelling investment opportunities.

I look forward to working within the Abraaj Group to further expand the Aureos focus on the SME segment across all emerging markets and integrating our business platforms to further enhance investor returns and long-term value for all stakeholders”

The proposed transaction has been strongly supported by Aureos’ core investors, including CDC.

The acquisition, which is subject to necessary approvals from the relevant authorities and one group of fund investors, is expected to be completed in the first quarter of 2012.