Category: Press

More than 100 countries including India, China and Russia have already entered into agreements with the US on the Foreign Account Tax Compliance Act (FATCA) and with new FATCA requirements coming into effect on 1st of January 2015 applying to U.S. and non-U.S insurers and insurance brokers, large portions of the financial services sector are being affected.

After a relatively quiet four-year ramp up, America’s global tax law is now being enforced. FATCA requires foreign banks to reveal Americans with accounts over $50,000 and considering the risks of being frozen out of U.S. markets, everyone is complying.

Firms that fail to comply with FATCA will be subjected to a stringent 30% withholding tax on any US sourced income even if they do not have any US customers. The compliance aspects being forced upon financial services firms globally by the US tax authorities are complex and costly. It includes amending everything, from more thorough KYC requirements to changes in the account opening processes for new customers to take into account the new information required under FATCA, and systems will have to be updated to comply with the withholding taxes if so required. Insurers and insurance brokers will have to comply with new information gathering and reporting rules when U.S. insurance and reinsurance premiums are sent outside the U.S.

Read more at Zawya

With Wealth Management becoming a major point of interest for the GCC market and its associated institutions, the Wealth Management Symposium that will take place on 14-15th of December at the JW Marriott Marquis Hotel in Dubai, UAE will offer insights into applications of Wealth Management by presenting market principles from Switzerland, the Middle East and Asia.

Its scope is to provide banking and financial services professionals a clear view of best practices and offer those tools that will assist in developing a localized value proposition focusing on an international audience/clientele on Wealth Management and Asset Allocation.

Anastasios Avranas, Co-Founder and CEO of INTERFIMA says:

Read more at Zawya

The Foreign Account Tax Compliance Act (FATCA) is a new US law aimed at foreign financial institutions (FFIs) and other financial intermediaries to prevent tax evasion by US citizens and residents through the use of offshore accounts.

It represents a complex and costly compliance task being forced upon financial services firms globally by the US tax authorities. Firms that fail to comply with FATCA will be subjected to a stringent 30% withholding tax on any US sourced income even if they do not have any US customers.

Account opening processes for new customers will have to be amended to take into account the new information required under FATCA and systems will have to be updated to comply with the new requirements for KYC and the withholding taxes if so required. FATCA is already in process, and what is required is already being implemented.

All these key FATCA and due diligence requirements will be addressed during the 2 day workshop on FATCA that will be taking place on 15-16th of October at The Address Dubai Marina Hotel in Dubai.

Read more at Zawya

Christianna Tsiterou – Co-founder and Managing Partner of Innoverto in Dubai, speaking to The Brand Leaders Middle East.

Watch the video here

Paul McKenna, the world’s foremost authority in human development will appear at the Dubai World Trade Centre in end of October/ November 2014. It will be his first appearance in the Middle East.

McKenna, famous for his work with celebrities such as Elle DeGeneres, Russell Brand, Roger Daltrey and Simon Cowell is also the UKs number 1 non -fiction selling author with ‘I Can Make You THIN‘ being the number 1 best-selling self-help book in UK history. His other successful titles include ‘Quit Smoking Today Without Gaining Weight’, ‘I Can Mend Your Broken Heart’, ’I Can Make You Rich’, and most recently, ’I Can Make You Happy’, which reached number one in the UK.

In 2010 Paul released ‘THIN, CONFIDENCE, QUIT SMOKING and SLEEP’ which reached number two on the US book charts – beaten only by Barack Obama’s autobiography. His books have helped millions of people across the globe conquer both personal and professional obstacles. McKenna uses scientific psychological procedures to make dramatic and captivating changes in people lives, and has appeared on national TV shows in the United States including The Ellen DeGeneres Show, Good Morning America, The Dr. Oz Show, Rachael Ray and Anderson Live, among others.

Read more at AmeInfo

Paul McKenna, Change you Life in 2 Days

Paul McKenna, Persuasion, Influence and Presentation Skills

The negotiations between Iran and the P5 + 1 are progressing and both sides are expressing optimism for reaching an agreement.

This would mean that the Economic Sanctions against Iran will be eased, thus clearing the path for those businesses that wish to explore the opportunities.

Trita Parsi, Founder and President of the National Iranian American Council and award winning author of ‘A Single Roll of the Dice: Obama’s diplomacy with Iran’ said:

“A nuclear deal with Iran will have a major stabilizing effect on the region as a whole, which not only will pave the way for peaceful resolutions for ongoing conflicts, but also opportunities to cement the stability through trade. If Iran opens up, it will be the largest market to connect with the global economy for almost a full quarter century. ”

Read more at Emirates Week Online

Companies around the world are eager to find out what the temporary relaxation of sanctions, in addition to the future expected lifting of sanctions, could mean for accessing the Iranian market.

The recent suspension of certain sanctions against Iran and the expectation of subsequent suspensions is opening discussion about the current market situation in Iran and its future opportunities.

Companies around the world are eager to find out what the temporary relaxation of sanctions, in addition to the future expected lifting of sanctions, could mean for accessing the Iranian market.

Industries that are immediately affected by the suspension of sanctions include petrochemicals, automotive, banking and finance, civil aviation, gold and precious metals, crude oil, trading, transportation and maritime insurance.

Identifying market entry in a frontier market such as Iran, while staying compliant but not acquiescing, requires research and a well-thought-out strategy coupled with the correct contacts to avoid unnecessary pitfalls.

Innoverto has announced that the one-day seminar entitled “Iran – Economic Sanctions and What’s Next – Identifying the opportunities in a post-sanction Iranian economy” will be taking place in Dubai on May 28. Attendees will learn what is allowed and not allowed under the current US/EU Iran sanctions, and gain knowledge to ensure that they do not engage in violations of the sanctions, or over-comply.

The chairman and keynote speaker of the seminar is Dr Nasser Saidi, former chief economist and head of external relations of the Dubai International Financial Centre, and president and founder of Nasser Saidi & Associates.

“Détente with Iran would not only be a major change in the geopolitics of the Middle East, it would potentially generate large economic benefits to Iran and the Gulf countries. As a result of more than two decades of sanctions, Iran has not had access to modern technology and investment, and achieved lower overall levels of investment. With détente, Iran will need to catch up and raise investment by up to about $60 to $80 billion for at least 10 years. The GCC countries, led by the UAE, should seize the opportunity to reap the economic and financial benefits from the opening of trade, investment, development and reconstruction opportunities,” he said.

Read at Khaleej Times Online

The recent suspension of certain sanctions against Iran and the expectation of subsequent suspensions is opening discussion about the current market situation in Iran and its future opportunities.

Companies around the world are eager to find out what the temporary relaxation of sanctions, in addition to the future expected lifting of sanctions, could mean for accessing the Iranian market.

Iran holds the world’s fourth-largest proven oil reserves and the world’s second-largest natural gas reserves. The country has a well educated population of close to 80 million, of which more than half is under 35 years old.

Industries that are immediately affected by the suspension of sanctions include: Petrochemicals, Automotive, Banking and Finance, Civil Aviation, Gold and Precious Metals, and Crude oil – trading, transportation and maritime insurance.

Identifying market entry in a frontier market such as Iran, while staying compliant but not acquiescing, requires research and a well thought out strategy coupled with the correct contacts to avoid unnecessary pitfalls. It is with this in mind that Innoverto is delighted to announce the 1 day Seminar titled “Iran -Economic Sanctions and What’s Next – Identifying the opportunities in a post sanction Iranian economy” that will be taking place in Dubai on 28th of May.

Attendees will learn what is allowed and not allowed under the current US/EU Iran sanctions, and gain knowledge to ensure that they do not engage in violations of the sanctions, or over comply.

Read more at Zawya

Knowledge Consultants, Inc. (KCI) and FEAC are proud to announce a new strategic partnership offering expanded certification programs for professionals seeking to improve their careers. The partnership will be effective for courses starting in mid-February of 2014.

Through the agreement, KCI will offer its certification programs through the FEAC Institute’s expanded certification program. KCI pairs its industry leading professional services and solutions to improve business performance with FEAC’s university relationships with California State University and National University to provide certified professionals with additional educational opportunities. FEAC is the premier training and certification institution for enterprise architects.

“KCI has established certification programs and consulting services for strategic use of technology in business, enterprise analysis, IT architecture and business process management – including rigorous training programs internationally in Southeast Asia and the Middle East,” KCI President Frank Kowalkowski said. “Through this partnership with FEAC we will be furthering the reach of our courses and helping even more professionals to continue their education and further excel in their careers.”

KCI certification programs available through the FEAC partnership are:

• Business Process Management
• Data Scientist including the new Elite Data Scientist program
• Business and Enterprise Architecture
• IT Management
• Business Analysis

KCI offers its courses in the Middle East through a partnership with Innoverto, a corporate training and events management company based in Dubai, which will also carry the FEAC certification.

Read more at Digital Journal

Innoverto FZ LLC is proud to announce a new partnership with the prestigious New York Institute of Management. This partnership will enable professionals in the Gulf and Middle East to access a wide list of renowned online executive education programs by leveraging NYIM’s internationality and real world interactive learning approach to management education.

“As the region prepares for the next decade’s growth projections, organizations and individuals are increasingly upgrading their skillsand credentials through continuing education,” said Christianna Tsiterou, Managing Partner of Innoverto. “This unique partnership is responding to the increased demand forflexible executive education throughout the Gulf and Middle East.”

NYIM and Innoverto anticipate offering four to six Certificate programs each year – each up to two months in length. The initial programs are planned to meet the professional development needs of busy executives virtually and allow for a flexible learning schedule.

The first program, “NYIM Executive Mini MBA”, is specifically designed to help high potential functional experts become more effective managers and build the skills and confidence they need to succeed across all industries. “Certificate in Marketing Management”, the second program in the series, will be focused on creating value for professionals seeking growth and differentiation for their enterprises through successful marketing management. This program is divided into four modules consisting of four three-hour long sessions.

Read more at AmeInfo