PSP urges private sector to exploit DTC relocation

PSP urges private sector to exploit DTC relocation KEIKANTSE LESEMELA
Correspondent The private sector has been urged to utilise business opportunities inherent in the relocation of the Diamond Trading Company (DTC) from London to Gaborone.

The permanent secretary to the president, Eric Molale told private business owners at the Botswana Confederation of Commerce, Industry and Manpower (BOCCIM) AGM yesterday that government wants to ensure that the relocation of DTC generates business opportunities for Batswana."We want to ensure that the DTC relocation generates business opportunities and attracts unrelated businesses by individuals. We need to move DTC into Botswana not just as a marketing platform for development but also to create economic sustainability," said Molale.

He noted that since 67 percent of the world diamonds come from Botswana, the relocation seeks to ensure that Batswana participate in diamond processing. Molale explained to BOCCIM members that diamond revenues are expected to decline around 2026 as the value of the resource declines at the world richest mine, Jwaneng.He revealed that opportunities exist across sectors such as education, tourism, minerals and many others. The relocation of the DTC will see P45 billion worth of diamond business passing through the local banking system with  60 to 70 international diamond business persons coming to Gaborone at least ten times a year to buy diamonds.  Molale however urged business owners to offer quality services, as most workers who will come here expect such services as quality education.  He advised that the tourism sector also has to prime itself for the visitors."The tourism industry lacks quality and promptness. We need to ensure that our services are of a high quality standard," he noted.

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PSP urges private sector to exploit DTC relocation

Oliphant Drift/Ramotlabaki councillor, Letsebe Letsebe re-joined the Botswana Na...

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PSP urges private sector to exploit DTC relocation KEIKANTSE LESEMELA
Correspondent The private sector has been urged to utilise business opportunities inherent in the relocation of the Diamond Trading Company (DTC) from London to Gaborone.

The permanent secretary to the president, Eric Molale told private business owners at the Botswana Confederation of Commerce, Industry and Manpower (BOCCIM) AGM yesterday that government wants to ensure that the relocation of DTC generates business opportunities for Batswana."We want to ensure that the DTC relocation generates business opportunities and attracts unrelated businesses by individuals. We need to move DTC into Botswana not just as a marketing platform for development but also to create economic sustainability," said Molale.

He noted that since 67 percent of the world diamonds come from Botswana, the relocation seeks to ensure that Batswana participate in diamond processing. Molale explained to BOCCIM members that diamond revenues are expected to decline around 2026 as the value of the resource declines at the world richest mine, Jwaneng.He revealed that opportunities exist across sectors such as education, tourism, minerals and many others. The relocation of the DTC will see P45 billion worth of diamond business passing through the local banking system with  60 to 70 international diamond business persons coming to Gaborone at least ten times a year to buy diamonds.  Molale however urged business owners to offer quality services, as most workers who will come here expect such services as quality education.  He advised that the tourism sector also has to prime itself for the visitors."The tourism industry lacks quality and promptness. We need to ensure that our services are of a high quality standard," he noted.

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President calls for Chinese investment in telecom sector

KARACHI: President Asif Ali Zardari here on Monday said Pakistan offered excellent investment and business opportunities and would welcome Chinese investment in all the sectors especially in introduction of the latest telecom technology.

A delegation of Zhongxing Telecom (ZTE) headed by Zhang RenJun, Senior Vice President called on President Asif Ali Zardari at Bilawal House.

Zhang RenJun was accompanied by M. Luo PingFan, President South East Asia, Peng Aiguang, CEO ZTE Pakistan and Najeeb Sadiq, Executive Director ZTE.

Federal Ministers Raja Pervaiz Ashraf, Senator A Rehman Malik, Syed Naveed Qamar and Dr. Asim were also present during the meeting besides other senior officials of the concerned departments.

Spokesperson to the President Senator Farhatullah Babar was also present.

Briefing about the meeting Spokesperson to the President Senator Farhatullah Babar said that Zhang RenJun briefed the President about his company's business in Pakistan in the telecom sector.

The President appreciated their interest in further expanding business in Pakistan reiterating that the Government would provide all possible facilitation to the foreign investors.

Zhang RenJun thanked the President for meeting. He also appreciated the government's support to them in their business pursuits.

Copyright APP (Associated Press of Pakistan), 2012

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Big opportunities for SMEs in defence sector - CIOL Network

BANGALORE, INDIA: The recently concluded defence expo in Bangalore gave some good news for country's small and medium businesses (SMBs/SMEs). During the expo, minister of state for Defence Pallam Raju said that the central government is looking at introducing the R&D fund for SMEs to encourage their participation in the defence sector.

For instance, Bangalore generates nearly 65 per cent of the country's aerospace business. As the minister said, if the new scheme for setting up R&D fund for SMEs comes up during the 12th Five Year plan, it will boost SMEs' presence around Bangalore to make it a hub for defence sector.

Meanwhile, Hindustan Aeronautics Limited (HAL), which mainly makes combat aircraft for India's defence sector, has said that it would increase its aircraft component buying from SMEs. HAL mainly outsources its component requirement to SMEs around Bangalore, Hyderabad and Nashik.

CII's report on defence estimates that the Indian defence sector currently comprises over 6,000 SMEs, which supply around 20-25per cent of components and sub-assemblies to the Defence Public Sector Undertakings (DPSUs), ordnance factories, Defence Research and Development Organisation (DRDO) and the armed forces.

The increase in spending on defence procurements will open up significant business opportunities for Indian SMEs for integrating themselves into supply chains of national and international defence majors. The defence sector is thus emerging as a lucrative market for SMEs.

Though the opportunities arising from the defence industry for the Indian SMEs are huge, there are some challenges. SMEs that can be successful are the ones which can innovate, adopt cutting edge technologies, deliver customised solutions, develop and maintain global standard in manufacturing qualities and specifications while maintaining their cost advantages. The challenge, therefore, for the Indian SMEs is to proactively respond to changing customer expectations.

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Business : UK eyes ME water sector

DUBAI ? British companies are bringing their water and wastewater expertise to the UAE for exploring business opportunities and further strengthening existing commercial partnerships between the two countries. A high-level delegation of companies from the United Kingdom water and wastewater sector recently visited Abu Dhabi and Dubai. The principal focus of the mission was water and wastewater treatment and the UK group represented a broad range of skills and technologies from project feasibility to implementation.

The delegates were part of a seminar organised by UK Trade & Investment, or UKTI, Dubai, at which they showcased their expertise and vision for the sector to a number of local companies and government organisations in the UAE.

“The target is to introduce companies in the UK water sector who are looking to trade internationally. Some of them have been here before and some first time and they are just looking to see whether there are opportunities for them here,” British Water international marketing executive Bridget Orr told Khaleej Times at the seminar in Dubai.

British Water is the lead organisation for the UK water and wastewater industry, representing just under 200 of the most active companies in the sector. For this reason British Water has been appointed by the UKTI to manage the organisation of this visit.

Some of the companies are established here and they want to build up their reputation or introduce new products or new services or new technologies, Orr said, adding: “Basically it’s to promote British business here in the Middle East.”

UK companies help countries across the globe develop integrated, sustainable approaches to water resource management. The UK’s traditional industrial expertise and scientific excellence combined with strong innovative approaches to technology, policy and regulation have ensured their global competitive advantage.

After the UAE, the delegation’s next stop will be in Saudi Arabia this week. “We have nine companies visiting the UAE and 16 companies visiting Saudi Arabia,” Orr said. “We have Atkins with us and they are the largest UK engineering company and they are the largest UK company working in the Middle East. They are very well established here and have done a lot of projects,” she said.

The delegation also has consultants and suppliers familiar with this market, she said, adding: “They are looking for different regions in the world and they think the Middle East may be having a good opportunity for them.”

“From British Water’s point of view we have 180 companies that are in the UK water industry and about 95 per cent of them are looking to trade internationally. So that’s the majority and most of our companies around 85 per cent are small to medium enterprises. So all the big companies already have international cooperation. And even our smaller companies are beginning to want to trade internationally,” she said.

“We look at different target markets,” Orr said, adding that target markets in Middle East are the UAE, Saudi Arabia, Oman and Qatar. In addition to the Middle East, India and China are other markets in Asia in focus, she added. “We also look at South America, Europe and Turkey as target markets.”

Imtech managing director Bruno Speed, one of the delegates, said that the company is looking for opportunities in whole region, but there are some key markets in focus. “Key ones for us are Qatar and Saudi Arabia.” Abu Dhabi is also an important market, but there are already some established players, he added.

Ian Gibbons, Deputy Consul General of the British Embassy Dubai, said: “This seminar will enable lasting relationships and business to be achieved between our two countries and I look forward to seeing the results in the coming months and years.”

The UKTI team in Dubai will look for further opportunities in this sector that are mutually beneficially to both sides, Gibbons added.

The UKTI is the arm of the UK government that supports overseas trade and inward investment, to encourage UK companies to do business in the UAE and to promote technological and commercial partnership.

Following the seminar an evening networking reception was held at the British Embassy hosted by Gibbons, where the water wastewater delegates met with senior representatives of the largest local companies and administrators specialising in the water sector.

The UK delegation also visited senior representatives at the Dubai Electricity and Water Authority, Federal Electricity and Water Authority and Drake & Scull where discussions were held about the UK water and wastewater capability.

— abdulbasit@khaleejtimes.com

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Lenders see opportunity as MetLife exits sector - Wichita Eagle

Local mortgage lenders see an opportunity with MetLife’s plans to exit the mortgage origination business.

Some see the move as a chance to hire good mortgage lenders, while others view it as an opportunity to expand market share.

MetLife, the nation’s largest life insurer, said MetLife Home Loans would no longer accept new loan applications to purchase homes. The company will continue to originate reverse mortgages.

The MetLife Home Loans office at 800 E. First in Old Town has consistently ranked as one of the 10 biggest mortgage lenders in Sedgwick County. That’s based on the number of resident mortgage filings by lenders, which is compiled in Security 1st Title’s TREM report.

It’s not clear how many people work out of the office or when the local office will wind down operations. Bret Frerichs, manager of the Wichita office, said he couldn’t comment. A MetLife spokesman in New York did not return a call for comment.

Mortgage lenders said the Wichita MetLife Home Loans office has produced a lot of business for some time.

“They’ve been a strong competitor for many years,” said Dan Jones, regional lending manager for Capitol Federal Savings.

Matthew Wendling, Wichita branch manager for Bank of Oklahoma Mortgage Group, said “they had a good group of people and they had a good run while they were doing loans.”

And, he said, he’d like to see some of those people come to his company, adding that he’s “got my feelers out.”

“From a competitive standpoint it means good things for us … that we’ll have the opportunity to pick up some people,” Wendling said.

He said many of the MetLife loan officers are experienced and well-regarded in the business, not to mention “they would bring a complete referral business.”

“I think there’s going to be many people out there trying to get them to join their organizations,” Wendling said.

Mitch Crouch, senior vice president of Pulaski Bank’s Wichita mortgage office, sees potential to grow his firm’s business here.

“I look at it as a positive for us because we’re hoping we’ll be doing more business because of it,” Crouch said.

Reach Jerry Siebenmark at 316-268-6576 or jsiebenmark@wichitaeagle.com.

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