Daily Archives: June 10, 2018

‫مشاركين من الشباب في برنامج كرة القدم من أجل الصداقة من 211 بلدًا ومنطقة يصلون إلى موسكو

موسكو، 9 يونيو 2018. – بدأت الفعاليات النهائية للموسم السادس من برنامج جازبروم الاجتماعي الدولي للأطفال كرة القدم من أجل الصداقة في موسكو. وقد وصل 1500 طفل وشاب إلى العاصمة الروسية للمشاركة في المشروع العالمي. وقد جمع برنامج كرة القدم من أجل الصداقة هذا العام مشاركين من 211 بلدًا ومنطقة حول العالم. والبرنامج يدعمه كل من الفيفا والاتحاد الأوروبي والأمم المتحدة ورؤساء اتحادات كرة القدم الوطنية، فضلاً عن ممثلي المؤسسات الحكومية. وسيصل إلى موسكو أكثر من 300 صحفي من أبرز وسائل الإعلام الدولية من أجل تغطية الفعاليات النهائية للبرنامج.

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وخلال الأيام القليلة القادمة، سيشارك السفراء الشباب للقيم الأساسية العالمية للبرنامج، وهي الصداقة والمساواة والعدالة والصحة والسلام والإخلاص والنصر والتقاليد والشرف، في جدول أعمال تعليمي يناقش موضوعات في غاية الأهمية. ولهذا، ففي إطار معسكر الصداقة الدولي الذي يستمر لمدة ثلاثة أيام، سيتم تنظيم الدورات التدريبية الرياضية والعملية الرئيسية مع نجوم كرة القدم العالميين والمدربين المحترفين من أجل اللاعبين الشباب والصحفيين الشباب والمدربين الشباب في البرنامج. وفي القسم الاجتماعي التعليمي بجدول الأعمال، هناك أنشطة تهتم بالأطفال يشارك فيها الشخصيات العامة وممثلو صناديق حماية الطبيعة وصحفيين من أبرز وسائل الإعلام الروسية والأجنبية، الذين سيشاركون خبراتهم مع المواهب الشابة في مركز صحافة الأطفال الدولي ببرنامج كرة القدم من أجل الصداقة. وسيحضر جميع الشباب المشاركين دورات تقدمها مدرسة القيم التسع، والتي قيمتها الأمم المتحدة كبرنامج تعليمي فريد من نوعه وسيشاركون كذلك في الدورات الأولمبية والمنتدى البيئي الدولي للأطفال.

وفي 12 حزيران/يونيو في نهاية التدريبات، سيلتقي 32 فريقًا من فرق الصداقة الدولية، والتي تمت تسميتها بأسماء الحيوانات النادرة والمنقرضة، في الملعب في إطار بطولة كرة القدم من أجل الصداقة العالمية. وستتوج الفعاليات النهائية للبرنامج بمنتدى كرة القدم من أجل الصداقة الدولي للأطفال، والذي سينعقد في موسكفاريوم، المجمع الفريد من نوعه، وهو المتحف المائي المسقوف الأكبر في أوروبا. وسوف يحضر “سفراء الشباب” لكرة القدم للصداقة الحدث الرئيسي لكرة القدم العالمية لعام 2018، وهو المباراة الافتتاحية في كأس العالم لكرة القدم في روسيا.

National Energy Services Reunited Corp. Announces the Completion of Its Business Combination With Gulf Energy SAOC and National Petroleum Services

DUBAI, United Arab Emirates, June 10, 2018 (GLOBE NEWSWIRE) — National Energy Services Reunited Corp. (“NESR”) (NASDAQ:NESR) (NASDAQ:NESRW), announces the completion of its business combination with Gulf Energy SAOC (“GES”) and National Petroleum Services (“NPS”) on June 6, 2018. The combined company creates an industry-leading provider of integrated energy services and solutions in the Middle East and North Africa (“MENA”) region. Following the closing of the transaction, NESR’s common stock and warrants will continue to trade on the NASDAQ Capital Market stock exchange under the ticker “NESR” and “NESRW,” respectively.

“We are pleased to announce that National Energy Services Reunited Corp. is now ready and eager to deliver the highest quality of services to our esteemed customers in the MENA region,” said Sherif Foda, Chairman of the Board and CEO of NESR. “When we set out on this journey, we envisioned to create a truly national services company which has its roots in the MENA region. With the closing of these acquisitions, I believe we achieved our objective and have set the stage for our future growth strategy. Our key goals are to create employment opportunities, significantly expand local manufacturing and be recognized as one of the best service providers in the area. I would also like to thank our shareholder base which has supported these transactions, and I look forward to working with our great team of employees of NPS and GES to fulfill our vision.”

The transaction was approved by the board of directors of NESR and by shareholders at a special meeting in lieu of an annual meeting on May 18, 2018. At $10.00 per share, NESR will have an aggregate market capitalization following the business combination and completion of redemptions of approximately $1.1 billion. As a result of the business combination, former GES and NPS shareholders including Mubadarah Investments LLC, Al Nowais Investments and Sheikh Suhail Bahwan, now collectively own a significant portion of the combined company, representing approximately 46% of the proforma market capitalization. Major shareholders who provided capital for the acquisitions include SCF Partners along with Viburnum Funds, The Olayan Group, and Waha Capital PJSC.

About National Energy Services Reunited Corp.

NESR is a leading oil and gas services provider in the MENA region. NESR began as a special purpose acquisition corporation, or SPAC, focused on investing in global oil & gas services space in May 2017. In November 2017, NESR announced the acquisition of two of the most prominent oilfield services companies in the MENA region: GES and NPS. These transactions were completed in June 2018.

About SCF Partners

Founded in 1989, SCF Partners (“SCF”) provides equity capital and strategic growth assistance to build leading energy service and equipment companies that operate throughout the world. The firm is headquartered in Houston, Texas and has additional offices in Calgary, Singapore and Aberdeen. SCF currently oversees approximately $2 billion under management and has built more than 70 platform services companies, completing over 300 growth acquisitions, through partnerships with energy services and equipment entrepreneurs.

About Viburnum Funds

Viburnum Funds Pty Ltd. (“Viburnum”) is an Australian high conviction, active ownership investment manager of public and private equities. Their private equity strategy focuses on investments in expansion and replacement capital for mid-market resource services firms operating in Asia and Australasia. Founded in 2007, Viburnum is headquartered in Perth, Australia with offices in Singapore and Melbourne.

About Olayan Group

The Olayan Group (the “Group”), a private multinational enterprise, is an international investor and a diverse commercial and industrial concern with operations in the Middle East. With offices in Saudi Arabia, Europe, and the US, the Group’s global investment team focuses on public and private equities, real estate, fixed income securities, and other specialized assets. The commercial side of the Group comprises more than 40 companies and is centered in Saudi Arabia, where the Group originated in 1947. They are engaged in distribution, manufacturing, and services. Many of these companies operate in partnership with leading multinational or regional firms. Some have operations in other Gulf countries and the wider Middle East.

About Waha Capital

Waha Capital (“Waha”) is an Abu Dhabi-listed investment company that offers shareholders and third-party investors exposure to high-potential opportunities in diversified asset classes. The company manages assets across several sectors, including aircraft leasing, healthcare, financial services, fintech, energy, infrastructure, industrial real estate and capital markets. Through its Principal Investments unit, Waha has established a strong investment track-record, deploying capital in sectors that display robust demand fundamentals and that have been prioritized by governments in the Middle East and North Africa region. The company has also built a strong capability in managing global and regional credit and equity portfolios, which have enhanced the diversification and liquidity of Waha’s balance sheet. The excellent performance of the company’s principal investments and capital markets portfolios has laid the foundations for the launch of an asset management business aimed at third-party investors. Established in 1997, Waha benefits from a roster of prominent local shareholders that includes Mubadala Development Company, and a distinguished board, chaired by H.E. Salem Rashid Al Noaimi.

About Mubadarah Investments LLC

Founded by Hilal Al-Busaidy and Yasser Al Barami, Mubadarah, along with its majority holdings in GES, has investment interests in energy, mining, hospitality, manufacturing and healthcare in Oman as well as across the Middle East and North Africa Region. Mubadarah’s vision is to be one of the fastest growing corporates in the region and to be a leader in In Country Value creation with their investments.

About Al Nowais Investments

AlNowais Investments is an investment company headquartered in Abu Dhabi, UAE, that owns and controls a diverse array of subsidiary companies. Founded in the late 1970s by members of AlNowais family, the group has evolved from a local business to a regional conglomerate with a successful track record of investing in multiple markets and sectors. Over the past three decades, AlNowais Investments has enjoyed significant growth and has become a trusted investment name in the MENA Region. AlNowais Investments owns controls and manages a diversified portfolio of companies which operate in multiple vital sectors, including: engineering and construction, oilfield services, healthcare, communication systems and technology, electromechanical and chemical industries, construction industries, real estate, hospitality and infrastructure projects. We make strategic principal investments in businesses in select industries that exhibit exceptional potential for growth and expansion. We originate, develop and execute large-scale projects in the energy and infrastructure sectors in partnership with leading players in these industries.

About Sheikh Suhail Bahwan, Chairman of Suhail Bahwan Group (Holding) LLC.

From a small trading enterprise at Muttrah, Oman in 1965, the Suhail Bahwan Group has grown to become a multibillion-dollar corporate enterprise with over 40 companies in the Sultanate of Oman and across the Gulf Region, North Africa and South Asia, guided by the vision and the wisdom of His Majesty Sultan Qaboos Bin Said. As one of the largest and most professionally managed business organizations in the Middle East, the Group’s diversified businesses cover almost every aspect of people’s lives – from automobiles, electronics, computers, travel, lifestyle and healthcare to agriculture, construction, engineering, information technology, manufacturing, oil and gas services and telecommunications – thus helping customers realise their dreams and aspirations to lead a quality life. With an inspired workforce of over 15,000 employees, the Suhail Bahwan Group believes that understanding and anticipating customer needs is crucial to its continued success, and strives to provide customers with world-class products and services at the best value for money.

Forward Looking Statements

This communication includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws.  Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions.  The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.  Forward-looking statements may include, for example, statements about the benefits of the transaction described in this communication; the future financial performance and capital structure of NESR following the transaction; and changes in NESR’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management.  These forward-looking statements are based on information available as of the date of this communication, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties.  Accordingly, forward-looking statements should not be relied upon as representing NESR’s views as of any subsequent date, and NESR does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.  You should not place undue reliance on these forward-looking statements.  As a result of a number of known and unknown risks and uncertainties, NESR’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements.  Some factors that could cause actual results to differ include NESR’s ability to maintain the listing of its ordinary shares and warrants on the NASDAQ Capital Market following the business combination, NESR’s ability to recognize the anticipated benefits of the transaction, which may be affected by, among other things, the price of oil, natural gas and natural gas liquids, competition and the ability of NESR to grow and manage growth profitably following the transaction; changes in applicable laws or regulations; the possibility that NESR may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties indicated in NESR’s public filings with the Securities and Exchange Commission.

For inquiries regarding NESR, please contact:

Dhiraj Dudeja
National Energy Services Reunited Corp.
832-925-3777
info@nesrco.com

or

Joseph Caminiti or Steve Calk
Alpha IR Group
312-445-2870
NESR@alpha-ir.com

NEW SUMMER FESTIVAL APP LAUNCHED ON SMART PHONES

This year people will be able to fully enjoy Qatar Summer Festival (QSF) with the help of newly-launched QSF Summer Pass mobile application which offers a comprehensive guide for all the events and offers under QSF’s umbrella. It can be downloaded from all app stores and will be available in both English and Arabic.

The country’s longest festival, QSF is set to return in its fifth edition from June 14 to August 31. Held under the theme Colour Your Summer, the festival invites residents and visitors to enjoy a colourful array of entertainment options and hot summer deals.

As this year’s edition coincides with the FIFA World Cup, QSF 2018 will feature special fan zone activations for everyone to keep up with the excitement surrounding the month-long tournament.

Source: Government of Qatar

NEW SUMMER FESTIVAL APP LAUNCHED ON SMART PHONES

This year people will be able to fully enjoy Qatar Summer Festival (QSF) with the help of newly-launched QSF Summer Pass mobile application which offers a comprehensive guide for all the events and offers under QSF’s umbrella. It can be downloaded from all app stores and will be available in both English and Arabic.

The country’s longest festival, QSF is set to return in its fifth edition from June 14 to August 31. Held under the theme Colour Your Summer, the festival invites residents and visitors to enjoy a colourful array of entertainment options and hot summer deals.

As this year’s edition coincides with the FIFA World Cup, QSF 2018 will feature special fan zone activations for everyone to keep up with the excitement surrounding the month-long tournament.

Source: Government of Qatar

MEC LAUNCHES INITIATIVE ON DISPLAY OF DATA IN MENUS OF RESTAURANTS, CAFES

A circular issued by the Ministry of Economy and Commerce (MEC), in cooperation with the Ministry of Public Health, stipulates that data on food and beverages should be prominently displayed by stores to enable consumers to choose meals with the calorie intake that corresponds to their daily activities.

Obligations applicable to all restaurants and cafes

The general obligations applicable to all restaurants, traditional food outlets, cafes and cafeterias involve the display of mandatory data related to food and meals, which include, among other labels, the type of meal and country of origin (the country of production of the commodity) in the description of food components provided to consumers, whether the meal consists of meat, chicken, fish or others. The data should also include a description of the condition of the ingredients such as if the meat, chicken and fish are fresh, refrigerated or frozen. It is also mandatory to clearly display the weight of main meat, chicken and fish meals.

Source: Government of Qatar

UAE participates in NATO defence meeting.

The UAE Minister of State for Defence Affairs, Mohammed bin Ahmed Al Bowardi, lead a UAE delegation during a North Atlantic Treaty Organisation, NATO, defence ministers meeting, held in the Belgian capital, Brussels.

The UAE delegation – which participated in meeting discussions revolving around global military affairs – included senior officers and officials of the Ministry of Defence, and Ambassador Saeed Obaid Al Kaabi, Head of the UAE Mission to the NATO.

NATO defence ministers exchanged discussions on a number of issues, including political and military developments in the US-led NATO operations, the future of the coalition, as well as global threats to security, and the need to tackle terrorism in Africa.

On the sidelines of the meeting, Al Bowardi met with US Defence Secretary James Matisse, where the Minister reaffirmed the UAE’s commitment to combatting terrorism in all its forms and manifestations.

Al Bowardi noted the UAE’s participation in many regional and global counterterrorism alliances, such as the Global Coalition Against Daesh, is a clear indication of the nation’s concerted efforts to limit the impact of extremism and terrorism on local, regional, and international levels.

Source: UAE Ministry of Foreign Affairs