News Highlights
Author:
Maha Al-Azar,
Meida Relations Officer,
Office of Information and Public Relations ,
ma110@aub.edu.lb
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Launch of OSB-Reuters Business Information Academy
 | Dean Najjar announced line-up of Academy activities
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The Suliman S. Olayan School of Business (OSB) announced on March 30 the activities of the OSB-Reuters Business Information Academy, during a special conference which was held at Bathish Auditorium in West Hall, in the presence of a host of business men and women from the Middle East.
The academy, which is the first of its kind in the Middle East, will be conducting training workshops on the role of business information in financial markets. The workshops will address a broad range of academic business streams including corporate finance, corporate governance, effective business communication and the development of financial markets and institutions.
The setting up of the Business Information Academy culminates several years of cooperation between Reuters and the School of Business, starting in 2001 when Reuters set up a news room at the school.
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 | Martin: The need for accurate business information is ever more pressing
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Rosemary Martin, Reuters Group PLC's general counsel and company secretary, said that the idea was enthusiastically received by editors, officials and business people in the region.
Noting that business reporting is a challenging enterprise, she highlighted the need to fine-tune business reporting skills, particularly in countries with emerging and growing financial markets, especially since the business information market is estimated to be worth $11 billion.
"As the market develops," she said, "the need for accurate, fast information and news about the financial markets in the region and in the wider global market becomes ever more pressing."
In fact, the challenge of business reporting is not confined to the region, added Martin, noting how the Western press had failed at exposing the scandals that unfolded in the 1990s with the dot.com boom.
Additional hurdles need to be overcome in emerging markets, she said. These include regulatory and political hurdles and a lack of trading venues, transparency and confidence in governance.
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 | A host of academics and businessmen attended the conference
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Martin explained that the academy will offer a program for journalists, business people and public relations professionals who wish to enhance their understanding of the role and purpose of business information.
"We hope that the program will lead to greater understanding between the press and the businesses and markets on which they report," she said.
Olayan School of Business dean George Najjar thanked both administrative and academic staff at AUB who helped realized the academy come to fruition. He also noted BankMed's generous contribution in its sponsorship of the conference.
Although the business school is going into uncharted territory, said Dr Najjar, it hopes to carve out a path that would help improve business information through the training of journalists and analysts.
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| Najjar also announced an impressive line-up of activities planned for the upcoming 12 months. These will include a two-day workshop in May on the problems and prospects of business journalism in the region; an international conference on business information in December; and a two-day workshop on those involved in business information in October 2008. These activities will culminate with the launch of a specialized certificate/diploma in March 2008 and the start of a research program intended to generate case studies from the region, in April 2008.
AUB Provost Peter Heath said that accurate information is one of the most valuable commodities that we have. "And we hope that the Reuters Business Information Academy will provide a venue that will help increase the amount of accurate information that is produced," he said.
Friday's conference also featured several speakers.
Henry T. Azzam, founder and chief executive officer of Amwal Invest spoke on business information as a vehicle for regional economic growth, focusing on the regional capital markets; while Saad Al-Barrak, chief executive officer of MTC addressed the topic of business information in the telecom sector; and National Bank of Kuwait's chief economist, Randa Azar spoke about business information for the financial services sector.
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