BRS Ventures furthers commitment to the UAE; inks pact with United Arab Emirates University (UAEU)

• MoU signed between BRS Ventures and United Arab Emirates University to provide graduate placement opportunities

• Students graduating from UAEU will be recruited by BRS Ventures entities; Internship and career advice to be made available

Abu Dhabi, United Arab Emirates-Wednesday 28 November 2018 [ AETOS Wire ]

BRS Ventures and United Arab Emirates University (UAEU) yesterday signed a Memorandum of Understanding (MoU) to provide graduate placement opportunities. Deserving students graduating from UAEU will be given preferential placement at various entities held by BRS Ventures. Career advice, participation in careers fairs, practical exposure of working in the corporate world will be made available. Competent students will also get to spend 8 to 16 weeks as internship, at BRS Ventures companies.

The collaboration with a UAE based education entity is a first for BRS Ventures. The MoU is a part of BRS Ventures’ Year of Zayed celebrations.

Speaking on the occasion, Dr. B. R. Shetty, Founder and Chairman of BRS Ventures shared, “UAE is the land of opportunities. Whatever I am today, is because of my inspiration – H. H. Sheikh Zayed and benevolence of the royal family.  I have been able to build my enterprises with the able support of highly competent people of this land. I am delighted that with this partnership, we will be able to empower and enrich the students graduating from UAEU. There could not have been a more opportune moment for us to ink this pact, as 2018 is the ‘Year of Zayed’. This is our commitment to the seat of knowledge in UAE.”

Dr. Ateeq Almansoori, Associate Provost for Students’ Affairs, UAEU, stressed the importance of this collaboration as, “it helps both parties benefit from each other’s capacities through joint programs, and communication in various fields of joint interests.” He added that, “the Division of Students’ Affairs aims to strengthen collaboration with private sector’s institutions to create job and internship opportunities for UAEU students in line with the university’s vision.”

BRS Ventures is a leading business house headquartered in Abu Dhabi, UAE. The company manages multiples businesses across Healthcare, Education, Financial Services, Pharmaceuticals, Hospitality, Environment and other sectors in UAE, India, Africa and other parts of the world.

UAEU is the first and foremost comprehensive national university in the United Arab Emirates. Founded in 1976 by the late Sheikh Zayed Bin Sultan Al Nahyan, UAEU currently has more than 15,000 Emirati and international students. As the UAE’s flagship university, UAEU offers a full range of accredited, high-quality graduate and undergraduate programs through nine colleges.

About BRS Ventures (www.brsventures.com)

BRS Ventures is a holding company belonging to Indian Padma Shri recipient Dr. B. R. Shetty. The company manages a diversified portfolio of businesses through its subsidiary companies and JV partnerships operating in Healthcare, Education, Financial Services, Pharmaceuticals, Hospitality, Environment and other Sectors in UAE, India, Africa and other parts of the world.

Contacts
Shamitha Raj, +971502523960

shamitha.r@brsventures.com


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Andersen Global Expands Presence in Africa with the Addition of Mondon Conseil International

SAN FRANCISCO-Wednesday 28 November 2018 [ AETOS Wire ]

(BUSINESS WIRE) -- Today, Andersen Global announced a collaboration agreement with Mondon Conseil International, a notable Western African tax consulting, legal, accounting and financial advisory services firm based in Ivory Coast.

The agreement further establishes Andersen Global’s footprint in Africa. The global organization now has a presence in nine locations since entering the African tax and legal market less than two years ago.

“I started my career over 30 years ago at Arthur Andersen, so my values of transparency and seamless, best-in-class service are already well-aligned with Andersen Global’s core values. It is only fitting that the growing market leader of tax and legal services in the region collaborate with Andersen Global, a name I respect,” said Pacôme Mondon, Founder and Managing Partner of Mondon Conseil International.

Founded in 2001 with the goal of becoming the premier tax firm in the region, Mondon Conseil International advises local and international clients on fiscal and business law issues including trade, labor, and foreign exchange regulations, and works with CFOs, treasurers and other financial leaders on transitioning to the new accounting requirements introduced by regulators and tax administrations.

“Pacôme and his team at Mondon Conseil are paramount to the growth of our global organization in West Africa. Their current firm is already larger than other practices in the region and Pacôme and his colleagues can provide leadership in supporting the French-speaking sector of Africa,” said Mark Vorsatz, Andersen Global Chairman and Andersen Tax LLC CEO. “On top of expanding legal capabilities in the region with Mondon Conseil, we have the added pleasure of welcoming an Arthur Andersen alumnus back into the family and I expect that Pacôme will be a key player in the expansion in West Africa.”

Andersen Global is an international association of legally separate, independent member firms comprised of tax and legal professionals around the world. Established in 2013 by U.S. member firm Andersen Tax LLC, Andersen Global now has nearly 4,000 professionals worldwide and a presence in over 122 locations through its member firms and collaborating firms.



Contacts

Megan Tsuei
Andersen Tax
415-764-2700



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Aqdar World Summit Concludes with Recommendations on Human Empowerment

Abu Dhabi, United Arab Emirates-Wednesday 28 November 2018 [ AETOS Wire ]

The second edition of ‘Aqdar World Summit’, launched in Abu Dhabi on November 26, concluded on Wednesday at the Abu Dhabi National Exhibition Centre -ADNEC. Held under the title “Role of Human Empowerment in Developing Stable Societies”, the summit was organized by the Khalifa Empowerment Program, Aqdar, in cooperation with INDEX Conferences and Exhibitions, a member of INDEX Holding, the United Nations, the National Archives, the Ministry of Education, along with several local and international bodies and entities.

Participants praised the efforts of UAE under the leadership of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, to build on the vision of the late Sheikh Zayed bin Sultan Al Nahyan, founder of the UAE, to promote the culture of human empowerment. They also praised his unrelenting efforts, with the support of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and ruler of Dubai, and HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to establish educated, conscious and responsible future generations to develop stable societies.

They also thanked Lt. General HH Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior for his patronage, support and constant follow-up, which had a prominent role in the success of Aqdar World Summit.

At the conclusion of the three-day event, participants issued the “Aqdar Global Declaration on Human Empowerment in Developing Stable Societies”. Addressed to states, governments, communities and relevant institutions, the declaration called for concerted efforts to inculcate a deeper understanding of sustainable development goals (SDGs), and to adopt these goals as a key pillar to empower minds and eradicate extremism.

The declaration called for leveraging the experience of the late Sheikh Zayed in human empowerment and to develop the right mechanisms to share the Aqdar World Summit initiative globally through a variety of events.

The declaration recommended establishing an international committee to follow up on the implementation of the summit’s outcomes and to develop relevant plans and executive programs.

Contacts
UAE Ministry of Interior’s General Secretariat

Security Media Department                   

Raed Al Ajlouni, +971504702790

Or

Amanda Ayass, +971567225338

press@securitymedia.ae

Follow us on: Twitter | Facebook | YouTube | Instagram | Google +

https://www.aetoswire.com/news/aqdar-world-summit-concludes-with-recommendations-on-human-empowerment/en

ARZAN WEALTH Sells Another Property from “Single Tenant Portfolio” in USA

Dubai, United Arab Emirates, -Wednesday 28 November 2018 [ AETOS Wire ]

Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has successfully advised its clients on the sale of a third property (“The Property”) from the Single Tenant Portfolio in USA. 

The Single Tenant Portfolio was acquired in June 2017, consisting of 6 single-tenant net-leased buildings with a total of 760,533 sq ft, located in 6 states in the US, and sectorally diversified with healthcare, industrial, and office assets, and with tenants that enjoy strong credit ratings and reputations in their markets.

The sold property is an industrial building located in Aiken, South Carolina. Built in 2014, the 175,000 sf building was constructed to the highest institutional standards. Owens Corning occupies 100% of the space on a lease term set to expire on January 31, 2029.  The facility provides Owens Corning with a Class A distribution center with the required supporting office space.

The Portfolio was acquired as part of Arzan Wealth’s yielding asset platform with an objective of producing an average annual yield of 8.50% to investors, and an IRR of around 10% over a three-year holding period. The sale of the Owens Corning asset is consistent with Arzan Wealth’s original strategy of identifying opportunities to break up the portfolio by selling off some of the assets, while enhancing value in the others. This asset was successfully sold at a price that has created a net IRR of around 12.7%, which is above the target IRR of 10% for the whole portfolio.

Arzan Wealth acted as the Strategic Advisor on the structuring and sale of the properties and will continue in this role during the remaining holding period of the remaining assets.

Muhannad Abulhasan, CEO of Arzan Wealth said:

“We are pleased that once again, we have been able to exceed the return expectations of investors.  This transaction reinforces our primary strategy to preserve and protect the wealth of our clients, while producing an attractive and predictable monthly income. Our track record, with a total of nine asset sales, proves that clients who chose to diversify with us by investing in all deals have benefited from this conservative approach, and will have achieved an average IRR, net of taxes and fees, of ~ 15% per annum, which is inclusive of an average monthly yield equal to 8.8% per annum.”

Notes to Editors

About Arzan Wealth (DIFC) Limited

Arzan Wealth is an investment advisory firm registered at the Dubai International Financial Centre (DIFC), and is regulated by the Dubai Financial Services Authority (DFSA).  Arzan Wealth currently advises various professional clients on real estate, private equity and other investments with a total value of assets advised around US$ 1.4 Billion.  Arzan Wealth focuses on arranging yielding investments in major global markets, as well as bespoke investments that meet the requirements of specific clients.

Past or projected performance is not necessarily a reliable indicator of future results.

Contacts

Ahmad AlSabbrei

Senior Investment Analyst

a.alsabbrei@arzanwealth.com

+965 9988 8624



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Sharjah Celebrates ‘Child-Friendly City’ UNICEF Title in Massive Carnival

• Sharjah’s children tell the world: ‘It is every child’s right to live in a safe place like us’

• 500-plus school children in attendance

SHARJAH, United Arab Emirates-Tuesday 27 November 2018 [ AETOS Wire ]

(BUSINESS WIRE)-- The children and youth in the emirate of Sharjah in the United Arab Emirates, sent a message to the world, saying: “It is every child’s right to play, be happy, to learn, to be creative, it is every child’s right to live in a safe place like us. The children of Sharjah call on the entire world that every city becomes a child-friendly city.”

The call came during the First Sharjah Child and Youth Friendly Carnival, coinciding with Universal Children’s Day and celebrating Sharjah’s recent accolade of being named a UNICEF Child-Friendly City.

The carnival saw Sharjah’s streets come alive to the sound of music as street performers and 500-plus families, children, and representatives from government organizations took part in a festive 1-km procession along Al Buhaira Corniche Road, located in the heart of the emirate.

The parade was led by the UAE Military Music Band who treated the crowds to a rousing performance on the bagpipes. Next up was ‘The Flying Dreams’ and its larger-than-life inflatable creations, including a giant bird and cartoon-style houses that soared high in the sky. The Bubbles Truck saw colourful bubble-dressed performers turn the city into a giant bubble-filled party, whereas the ‘Magic Garden’ was – quite literally – wild, with stilt walkers dressed as colorful flowers and plants.

Held under the patronage of His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the UAE Supreme Council and Ruler of Sharjah, and organized by the Sharjah Baby Friendly Office.

The Carnival culminated with a spectacular firework extravaganza; the perfect end to a delightful celebration paying tribute to the city’s future bright stars.

About Sharjah Baby Friendly Office (SBFO)
SBFO aims to protect and elevate the status and wellbeing of children of all ages in Sharjah, by creating strategies and plans and implementing them in cooperation with relevant institutions and government authorities. The office is currently tasked with the implementation of the Sharjah Baby-Friendly Emirate Project (targeting 0-2 year-olds), and the Sharjah Child Friendly City Project (targeting 0-18 year-olds).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181126005607/en/

Contacts

National Network Communications (NNC)
Fadia Daouk, +971 52 617 2111

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U.S. Solicitor General and Others Support Rimini Street Position in Supreme Court Case

 Company seeks $12.8 million refund of costs paid to Oracle

LAS VEGAS -Tuesday 27 November 2018 [ AETOS Wire ]

(BUSINESS WIRE)-- Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products, provided the following statement relating to Rimini Street v. Oracle, which is currently pending before the United States Supreme Court:

“The Solicitor General of the United States recently filed an amicus curiae brief in the United States Supreme Court case of Rimini Street v. Oracle. The Solicitor General’s brief endorses Rimini Street’s interpretation of the Copyright Act’s cost-shifting provision, concluding that ‘[Oracle’s] contrary reading … stretches [the statute] beyond what its text can bear.’ The brief further concludes that the U.S District Court award of $12.8 million in non-taxable litigation expenses to Oracle, and the subsequent affirmance by the Ninth Circuit Court of Appeals, were erroneous and should be reversed.

The case is expected to be argued in early 2019. If the Supreme Court reverses the decision, Oracle will be ordered to refund the $12.8 million to Rimini Street. This refund would be in addition to the $21.5 million Oracle was previously ordered to refund to Rimini Street by the Ninth Circuit Court of Appeals, which Oracle paid in March 2018.

Rimini Street has appealed the decision of the Ninth Circuit Court of Appeals affirming an award of non-taxable costs as part of the final judgment awarded to Oracle in 2016. On September 27, 2018, the Supreme Court granted Rimini Street’s petition for review. On appeal, Rimini Street argues that the award of $12.8 million in non-taxable costs is in direct conflict with decisions of other federal circuit courts and the Supreme Court.

In addition to the United States Solicitor General, the prestigious American Intellectual Property Law Association also filed an amicus curiae brief in the case, stating that ‘[t]he interests of the copyright registration system, certainty, and predictability weigh against permitting … [statutory] awards for non-taxable costs. This constraint provides greater uniformity and better aligns with the policies underlying the Copyright Act.’

Rimini Street’s position is also supported in amici curiae briefs filed by Professor Patrick Gillen, a scholar who has written on the history and scope of federal cost-shifting statutes, and a group of law school professors and scholars of corpus linguistics, who research the use and meaning of language. All of these amici curiae argue that the Ninth Circuit Court of Appeals decision was erroneous.

Rimini Street looks forward to the argument before the Supreme Court, and is confident that it will result in a reversal of the Ninth Circuit Court of Appeals judgment on non-taxable costs, achieve national consistency to interpretation of the Copyright Act by courts, and bring the refund of $12.8 million previously paid by Rimini Street to Oracle in 2016.”

About Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI) is a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products. The Company has redefined enterprise software support services since 2005 with an innovative, award-winning program that enables licensees of IBM, Microsoft, Oracle, Salesforce, SAP and other enterprise software vendors to save up to 90 percent on total maintenance costs. Clients can remain on their current software release without any required upgrades for a minimum of 15 years. Over 1,700 global Fortune 500, midmarket, public sector and other organizations from a broad range of industries currently rely on Rimini Street as their trusted, third-party support provider. To learn more, please visit http://www.riministreet.com/, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn. (C-RMNI)

Forward-Looking Statements

Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may,” “should,” “would,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “seem,” “seek,” “continue,” “future,” “will,” “expect,” “outlook” or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, continued inclusion in the Russell 2000 Index in the future; changes in the business environment in which Rimini Street operates, including inflation and interest rates, and general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates; adverse developments in pending litigation or in the government inquiry or any new litigation; the final amount and timing of any refunds from Oracle related to our litigation; our need and ability to raise additional equity or debt financing on favorable terms; the terms and impact of our 13.00% Series A Preferred Stock; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the success of our recently introduced products and services, including Rimini Street Mobility, Rimini Street Analytics, Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products; the loss of one or more members of Rimini Street’s management team; uncertainty as to the long-term value of Rimini Street’s equity securities; and those discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on 10-Q filed on November 8, 2018, which disclosures amend and restate the disclosures appearing under the heading “Risk Factors” in Rimini Street’s Annual Report on Form 10-K filed on March 15, 2018, and as updated from time to time by Rimini Street’s future Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.

© 2018 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.



View source version on businesswire.com: https://www.businesswire.com/news/home/20181126005154/en/

Contacts

Michelle McGlocklin
Rimini Street, Inc.
+1 925 523-8414
mmcglocklin@riministreet.com

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Manifesto: Call for a Successful Transition to Renewables in the Transportation Sector

MUNICH & PFORZHEIM, Germany-Friday 23 November 2018 [ AETOS Wire ]

(BUSINESS WIRE) -- Political course corrections, coupled with the alarming reports on climate conservation, have led the organizers behind Power2Drive and other endorsers to initiate a manifesto. The aim is to deepen the close connection between e-mobility and renewable sources of energy and achieve a sustainable future. The smarter E Europe, the largest energy industry platform in Europe, will demonstrate the potential held by this combination of mobility and clean energy, and the pressing need to pay greater attention to sector coupling.

The organizers behind Power2Drive have formed a strong alliance committed to the idea of a successful transition to renewable sources of energy in the transportation sector. Some of the declaration’s first signatories include the German Federal Association for eMobility (BEM), the German Association of Energy Market Innovators (bne), the German Association for Solar Mobility (BSM), the German Solar Association (BSW-Solar), the German Wind Energy Association (BWE), the International Solar Energy Society, German Section (DGS) and the International Battery & Energy Storage Alliance (IBESA).

The signatories are not only demanding a clear signal from politicians, but also a progressive and consistent approach by industry and members of the public. The alliance has formulated seven recommendations to demonstrate why a close connection between e-mobility and renewable sources of energy is absolutely essential, and wants to see the mistakes of the past serve to propel people toward decisive action today. Investments in renewable sources of energy are necessary to cope with worsening climate change, and the basis for a successful energy transition can only be established when politicians define clear parameters. Plus, if the reshaping of the transportation sector is to have a positive effect on the climate, there must be a clear focus on renewable sources of energy.

The whole manifesto can be downloaded here: https://bit.ly/2R18gPB

Power2Drive Europe and the parallel events will take place from May 15–17, 2019 under the umbrella of The smarter E Europe at Messe München.

Further information on Power2Drive Europe 2019 can be found at www.PowerToDrive.de.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181121005307/en/

Contacts
Contact:
Solar Promotion GmbH
Sabine Kloos
Tel.: +49 7231 58598-0
Fax: +49 7231 58598-28
info@PowerToDrive.de

Press contact:
fischerAppelt, relations
Robert Schwarzenböck
Tel.: +49 89 747466-23
Fax: +49 89 747466-66
rs@fischerAppelt.de



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