Sharjah stimulates tourism in face of global downturn SHARJAH - The Sharjah Commerce and Tourism Development Authority (SCTDA) is currently studying all strategies and policies that could support the emirate's tourism sector, ensure a consistent flow of tourists into the emirate, and help the emirate to complete various planned tourism developments in the face of the global economic downturn, said Sheikh Sultan Bin Ahmed Al Qassimi, SCTDA chairman, following a meeting by its board of directors. The meeting, which was chaired by Al Qassimi, was held to discuss the impact of global economic crisis on the tourism sector in the emirate of Sharjah, and to identify possible ways in which these impacts can be minimized, as well as to discuss the authority's strategy for 2009, which aims to further stimulate promotional campaigns for the emirate and activate the related plans. Al Qassimi reiterated the board's keenness to provide all the necessary support and facilities to further boost the emirate's position on the business and tourism map. He praised the SCTDA's success in developing a number of premier activities that were hosted in the emirate this year, such as Sharjah-Etisalat Water Festival 2008 and the final round of the UIM F1 World Powerboat Championship-Sharjah Grand Prix, emphasising the importance of these events in boosting the tourist attraction value of the emirate. Mohammed Ali Al Noman, director general of the SCTDA, discussed a number of new plans which aim to further develop the tourism sector in the emirate and dramatically improve its performance in the next few years. The board noted the vital role that the hospitality sector plays in organizing tourism activities in the emirate. The board agreed that the launch of new strategies confirms the authority's commitment to continue its efforts to further develop this vital economic sector. The board also stressed to further upgrade the performance of the commercial and tourist sectors in the emirate. It underscored the necessity of focusing on developing new plans and initiatives to promote Sharjah, and to expand its participation in local, regional and international events. – SG KPMG revenues grow 14.5% DUBAI - KPMG, the global network of professional service firms providing audit, tax and advisory services, on Wednesday announced that member firm combined revenues increased to $22.69 billion for the fiscal year ending Sept. 30, 2008, versus $19.81 billion for the prior fiscal year, reflecting double-digit growth across all of KPMG's service lines. KPMG's combined revenues for fiscal year 2008 represent growth of 14.5 percent in US dollars and growth of 8.4 percent in local currency terms. “All of our businesses recorded solid growth last year, despite the deepening and acceleration of the global financial crisis in the last quarter of KPMG's fiscal year,” said Timothy P. Flynn, chairman, KPMG International. Across KPMG's geographic regions and member firms, the Asia Pacific region grew fastest in 2008, while Russia saw revenues rise 64.5 percent in US dollars. In India, revenues jumped 48.9 percent, in China revenues rose 25.8 percent, and in Africa revenues increased 16.5 percent, all in US dollars. The Asia Pacific region led the growth pace among KPMG's three global regions, with aggregated revenue growth of 21.6 percent to $3.11 billion in 2008. KPMG China demonstrated particularly strong growth in the Asia Pacific region, with 25.8 percent growth in US dollars. This year, member firms in the region also agreed to move toward a more aligned practice, in order to add to the strength and depth of client service in Asia Pacific. For the EMA (Europe, Middle East and Africa) region, combined KPMG member firm revenues increased 16.3 percent to $12.41 billion. In the EMA region, revenue results for 2008 were particularly strong in Central and Eastern Europe (CEE), at 34.4 percent in US dollars, the Commonwealth of Independent States (CIS) at 62.1 percent in US dollars, and in Africa, at 16.5 percent.
