Booz in the news - December 2008
| December 31, 2008 Investor Enthusiasm For Telecoms Grows Cold The National – December 31st, 2008 “What we are seeing now is a short-term readjustment,” said Ghassan Hasbani, a vice president and partner who specializes in telecoms at the management consultancy, Booz & Co. “People have to get used to more realistic premiums – some very high premiums were being paid in this region, and the time of those kind of valuations is over.” |
| December 27, 2008 Car Agent Committee Rules Out any Car Price Reduction Al Riyadh – December 27th, 2008 The national car agent committee within the Saudi Chamber of Commerce and Industry held its last meeting for 2008 under the presidency of the committee Vice President Imad Abdallah Abd Rabbo to discuss the 2008 achievements and the requirements of 2009 in light of the global financial market developments and the current economic situation that affected the global automobile industry. |
| December 23, 2008 Do Not Be Afraid of Investing in Russia Emirates B.24-7 – December 23rd,2008 Despite its economic and political complexities, Russia offers foreign banks a number of reasons to take closer look. Russia is the largest of the emerging economies across central and eastern Europe and one of the fastest growing. |
| December 23, 2008 Pitting ‘Multilatinas’ Against Giants Emirates B.24-7 – December 23rd, 2008 Latin-owned companies such as Mexico’s Cemex, Argentina’s Arcor, and Brazil’s Embraer and Petrobras have achieved remarkable success in their home markets, often against US and European competitors. Building on this success, many of these companies have become “multilatinas”, pursuing an aggressive strategy of regional and international expansion by acquiring companies and establishing cross-border joint ventures. |
| December 22, 2008 Booz & Company Study About Research Companies Al Mustaqbal – December 22nd, 2008 Booz & Company’s fourth annual analysis of the world’s 1,000 largest publicly traded corporate research and development spenders, released today, found that these corporations continue to invest aggressively in R&D -- spending a total of US$492 billion on research and development in 2007, a 10% rise over the previous year, and well over the compound growth rate of 6.7% since 1999. |
| December 22, 2008 Testing Times Arabianbusiness – December 22nd, 2008 The economic storm will not spare telecommunications operators. But core communications-service revenue should prove resilient and operators may be able to take advantage of the turmoil by making anti-cyclical investments. The worldwide financial crisis will have the most significant impact on four areas of the telecom business: M&A, operating costs and capital spending, core service revenue, and additional services for enterprises. |
| December 21, 2008 Weathering Economic Turbulence Gulf Fin.insider – December 21st, 2008 As providers of an essential service, telecommunications operators are likely to be shielded from the worst effects at the downturn. Some operators – those with the financial and market strength to invest while others are retrenching – may even be able to strengthen their positions during this turbulent period. |
| December 17, 2008 1000 Companies Expenditures on Development Reached $Half Trillion Al Hayat – December 17th, 2008 Booz & Company’s fourth annual analysis of the world’s 1,000 largest publicly traded corporate research and development spenders, released today, found that these corporations continue to invest aggressively in R&D -- spending a total of US$492 billion on research and development in 2007, a 10% rise over the previous year, and well over the compound growth rate of 6.7% since 1999. |
| December 17, 2008 Half Trillion Dollar The Spend of 1000 Co Al Hayat– December 17th, 2008 Booz & Company’s fourth annual analysis of the world’s 1,000 largest publicly traded corporate research and development spenders, released today, found that these corporations continue to invest aggressively in R&D -- spending a total of US$492 billion on research and development in 2007, a 10% rise over the previous year, and well over the compound growth rate of 6.7% since 1999. |
| December 17, 2008 Booz & Company Study Finds Top Corporate Spenders on R&D Boosted Investments to Nearly Half a Trillion Dollars in 2007 The Daily Star – December 17th, 2008 Booz & Company’s fourth annual analysis of the world’s 1,000 largest publicly corporate research and development spenders, released today, found that these corporations continue to invest aggressively in R&D – spending a total of $492 billion on research and development in 2007, a 10 percent rise over the previous year and well over the compound growth rate of 6.7 percent since 1999. The Booz & company study finds that the average global multi-national corporation spends 45 percent of its total corporate dollars spent on R&D worldwide in its home country, while the majority is invested in other countries in its global footprint to capitalize on specialized R&D skills, proximity to new markets and local insights. |
| December 17, 2008 Toyota: $8.4 Bn Al Hayat – December 17th, 2008 A recent report finds that the top 10 companies spending on R&D in 2007 are Toyota ($8.4 Bn), General Motors, Pfizer, Nokia, Johnson & Johnson, Ford, Microsoft, Roche Holding, Samsung Electronics and GlaxoSmithKline. |
| December 17, 2008 Is Backshoring The New Trend? Emirates B.24-7 – December 17th, 2008 Companies have begun to rethink their offshoring decisions in a way that ultimately will render ‘offshore’ and ‘onshore’ no longer meaningful or relevant. Instead, companies are making choices about the best place to do a given piece of work – be it offshore, onshore or nearshore. As this transformation occurs, work is being spread throughtout the world and companies are globalizing to keep up. |
| December 16, 2008 HRCS Report Clarifies Expenditures, Revenues and Compensations Al Mustaqbal – December 16th, 2008 The Cabinet Secretariat General distributed the HRCS report describing the entity activities, expenitures, revenues and compensations for the year 2008. |
| December 16, 2008 The Biggest 1000 Intl Companies Spend More Than $492 Bn on Searching and Developing Emarat Alyoum – December 16th, 2008 A Booz & Company study found that Pfizer, General Motors, Toyota, Nokia, Johnson & Johnson, Ford, Roche, Microsoft, Samsung and GlaxoSmithKline are the top 10 companies spending on R&D worldwide. |
| December 16, 2008 Analysis Study Al-Anba – December 16th, 2008 Booz & Company’s fourth annual analysis of the world’s 1,000 largest publicly traded corporate research and development spenders, released today, found that these corporations continue to invest aggressively in R&D -- spending a total of US$492 billion on research and development in 2007, a 10% rise over the previous year, and well over the compound growth rate of 6.7% since 1999. The majority of these companies (91%) conducted their R&D activities in multiple countries beyond that in which they are headquartered. |
| December 15, 2008 $492 Bn The Expenses of World Companies on Research Al Hayat– December 15th, 2008 Booz & Company’s fourth annual analysis of the world’s 1,000 largest publicly traded corporate research and development spenders, released today, found that these corporations continue to invest aggressively in R&D -- spending a total of US$492 billion on research and development in 2007, a 10% rise over the previous year, and well over the compound growth rate of 6.7% since 1999. |
| December 15, 2008 World Companies Expenditures in Development Al Hayat – December 15th, 2008 Booz & Company’s fourth annual analysis of the world’s 1,000 largest publicly traded corporate research and development spenders, released today, found that these corporations continue to invest aggressively in R&D -- spending a total of US$492 billion on research and development in 2007, a 10% rise over the previous year, and well over the compound growth rate of 6.7% since 1999. |
| December 15, 2008 40% Share of Foreign Companies Spending on Research Al Khaleej – December 15th, 2008 According to a Booz & Company study, the average global multi-national corporation spends 45% of its total corporate dollars spent on R&D worldwide in its home country, while the majority is invested in other countries in its global footprint to capitalize on specialized R&D skills, proximity to new markets and local insights. As in previous years, there is no statistically significant evidence that a higher level of R&D spending relative to peers assures better results. |
| December 15, 2008 R&D Spend Touched $492bn in 2007 Emirates B.24-7– December 15th, 2008 Research and development spending by the world’s top 1,000 companies reached $492 billion (Dh.1.80trn) in 2007, a 10 per cent rise over the previous year, according to a study by Booz &Company, a leading global management consulting firm. |
| December 15, 2008 Economic Report Al Seyassah – December 15th, 2008 Booz & Company’s fourth annual analysis of the world’s 1,000 largest publicly traded corporate research and development spenders, released today, found that these corporations continue to invest aggressively in R&D -- spending a total of US$492 billion on research and development in 2007, a 10% rise over the previous year, and well over the compound growth rate of 6.7% since 1999. |
| December 11, 2008 Saline Water Conversion Corporation Signs Contracts to Implement Privatization and Restructuring Ameinfo.com – December 11th, 2008 Contract was also signed with ‘Booz & Company’ for advisory services for Change Management Program. Scope of work includes developing a CM program, blueprint and executive awareness and communication plan, execute change training plan, and execute change monitoring plan. |
| December 11, 2008 Cooling Down Overheated Economies Arabianbusiness – December 11th, 2008 The financial and economic crisis that is plaguing the world may have far greater impact on countries that have not managed inflation well. While inflation has been increasingly pervasive in the G7 as well as in emerging economies, the very highest jumps in the rate of inflation have been registered in the hydrocarbon-rich economies of the GCC. The challenge for GCC countries is to create their own macroeconomics stability frameworks and to make sure these are integrated and coordinated regionally and globally. There need to be formal ways in which the region’s central banks interact with each other and those outside the GCC. |
| December 4, 2008 About Company News Al Qabas – December 4th, 2008 A recent Booz & Company study on more than 350 Executive Managers leading change programs in leading corporations with more than 5000 employees, highlighted the major progress in the change management initiatives and attributed this to the positive impact of the individuals focused initiatives. The study found that the change management work scopes are currently applied in 82% of the cases. |
| December 4, 2008 Inauguration of The Middle East Week at Harvard University Al Balad – December 4th, 2008 Hisham Fadel, a member of the MENA club at the Harvard Business School, talked to Al Balad about this week’s goals and the preparations that spanned over the last five months. Hisham considers that the MENA region has witnessed a significant development during the last couple of years through the launch of multidisciplinary businesses. |
| December 3, 2008 Declaration for Economists Arrouiah – December 3rd, 2008 The Arab Economic Unity Secretary General Dr. Ahmed Joueily said that the Arab Economic Summit to be held in Kuwait on January 19th and 20th will be affected by the Arab economy stumbles, noting that the council will discuss specific measures to absorb the financial crisis implications, including the set-up of an Arab funding entity with a Billion Dollar capital to fund private sector projects and the establishment of two funds for small ventures and poverty eradication. |
| December 2, 2008 Etisalat: Best International Operator with its Special Services Al Khaleej– December 2nd, 2008 Etisalat received the “Best Operator” award for telecom services within the framework of the “World Communication Awards” held in London to recognize the owners of significant achievements in the Telecom industry in 2008, in the presence of more than 500 policymakers, CEOs and Executive Directors. |
| December 2, 2008 Etisalat Attracts 7Mn Subscribers Al Itihad. – December 2nd, 2008 The 7.05 Mn Etisalat mobile subscribers increased the mobile service provision in the UAE to 150% which is the highest rate worldwide, according to a press release issued by Etisalat yesterday. |
| December 2, 2008 Etisalat Reduces the Price of Phone Calls Al Bayan – December 2nd, 2008 Etisalat announced the implementation of the reduced tariffs on all local and international calls during the National Eid holiday. The reduced tariffs will also be implemented on all international calls during the Greater Eid “Al Adha” holiday between December 7th and 10th. |
| December 2, 2008 Change Management Graduates to Boardroom Agenda Al Watan Daily – December 2nd, 2008 A global survey by Booz & Company of more than 350 senior executives who have led major transformation programs in large organizations (with more than 5000 employees) has highlighted major progress in the efficacy of change management initiatives, due to the positive impact of people-focused activities. The survey found that change management workstreams are now implemented in 82 percent of cases, with the same proportion declaring the programs as having had a positive impact on business performance. |
| December 1, 2008 Making the Most of the Economic Downturn Qatar Today & Qatar Al Youm – December Issue The Major objective of GCC conglomerates in this potential slowdown should be to build a longer-term sustainable competitive position and prepare themselves for future growth. |
| December 1, 2008 Testing Times Comms Mea – December Issue Telecommunications operators, like companies in every industry, are bracing for the possibility of slower growth especially if the global financial crisis causes a worldwide recession. But as providers of an essential service, telecommunications operators are likely to be shielded from the worst effects of the downturn. |
| December 1, 2008 Telecom Operators Amidst the Credit Crunch Storm Business Week – December Issue The Telecom sector in the region was not spared from the credit crunch implications and with the decline of the regional financial markets due to the panic wave that hit investors, Telecom companies were clearly affected by the unprecedented decline in their market value after years of high returns and intensive acquisitions. |
| December 1, 2008 Calming the Flurry of the Economic Systems Money Works – December Issue The global economic and financial crisis might have a higher impact on countries that could not find good channels to address inflation. while the inflation volume has been increasing within the G7 and the developing economies, the highest inflation rate was recorded in the hydrocarbon-rich economies in the Gulf. |
| December 1, 2008 The Public and Private Spheres – Partners in Prosperity Executive – December Issue Infrastructure plays a vital role in supporting a high standard of living and facilitating trade, thereby extending a country’s global reach. These public-private partnerships (PPPs) can benefit all involved. Governments meet obligations without debt, the public receives better services, and the private sector presented with a wider market, Further, when coupled with the right policies and institutional environment, PPPs can become catalysts for economic growth. |
| December 1, 2008 Health of the Nation Commerce-tijari – December Issue Governments across the GCC continue to move away from the welfare state model to market-driven healthcare. Richard Shediac, Kapil Bhatia and Ali Hashemi of Booz & Company’s healthcare practice team discuss the introduction of mandatory health insurance and the implications for payors, providers, employers and regulators. |
| December 1, 2008 Challenges of Providing Gas to Europe Al Bayan– December 1st, 2008 The Carbon dioxide reduction law the United States are intending to introduce affects the supply-demand balance in the Atlantic, raising the competition level between Europe and the US to ensure gas supplies for the next decade. The investments in Europe national gas might not result in achieving the continent supply particularly with the potential gas transfer from the Middle East and North Africa to the United States, prompting Europe to install an additional pipeline from Russia. |
| December 1, 2008 Booz & Company Recommends the Establishment of an Organization for Gas Exporters Emarat Alyoum – December 1st, 2008 A recent Booz & Company study recommended the establishment of an organization for natural gas exporting countries, “GASPEC”, after the pattern of OPEC. |
| December 1, 2008 US Gas Growing Demand Threatens European Exports Al Khaleej – December 1st, 2008 A recent Booz & Analysis found that it is imperative to consider carefully the developments in the regional gas markets – traditionally separate – in Europe, North and South America, Middle East and Asia from a global perspective. |
| December 1, 2008 IT Scores High Gulf Business-q – December Issue Historically, tech companies have tended to weather downturns reasonably well. “Looking back at the history of recessions going back to the late1960s, technology has actually been able to sustain a reasonable rate of growth in the face of economic downturn,” says Hasbani from Booz & Company. One of the reasons, he says, is that IT is an efficiency tool. Hasbani says the downturn will likely have less of an impact on IT sectors in the emerging markets, including the Middle East. “The region has not deployed as much IT as a percentage of GDP and are likely to be sources of growth even in a down cycle.” Highlighting a crucial point to the eye of the investor – relativity. While sources in the Gulf sector cannot discount a reduction in their profits from the downturn, it is expected to be comparatively better than other markets. |
| December 1, 2008 How Telecommunications Operators in the Middle East Will Weather the Global Financial Crisis Telecom Review – December Issue Despite the global economic crisis, the future for the telecom industry in the region looks bright. However, there are four action points that ought to be considered by operators that want to sustain growth and survive crisis. |