Newsweek Arabic Edition, a leading weekly magazine in the Arab World, is set to honour the top 20 corporate performers in the UAE during 2008 at a ceremony in Dubai.

'The Newsweek Award of Excellence Program,' aims to recognise top corporate contributors to national economy, said a senior Newsweek official.

The ceremony, which will honour top-performing UAE-based companies, institutions and organisations from the private and public sectors, will also mark the ninth anniversary of Newsweek Arabic Edition and will serve as the inaugural event of what will be an annual feature in the Newsweek calendar.

Sheikh Hasher bin Maktoum Al Maktoum, director general of Dubai Department of Information, will present the awards at a ceremony in the Grand Hyatt Hotel, Dubai on March 31.

A Newsweek team, comprising senior correspondents and writers and the members of editorial board, conducted a study to identify the right people.

The winners come from different sectors including finance, media, airline, education, hospitality, real estate and property, and general trading.

Mohamad Salman, regional manager, Newsweek Arabic Edition said: 'Having extensively studied and researched on the business performance of different private sector companies and organisations in the UAE, we are pleased to finally come up with a list of honourees that have contributed meaningfully to their respective industries and to the national economy.'

'We believe this initiative will serve as motivation for organisations to be more competitive and to push their limits to excel in their respective fields. Ultimately, by incorporating this in our calendar of events, it is our aim to promote excellence and quality among all business organisations in the UAE.'

Sheikh Khalifa Al Sabah, chairman of Dar Al Watan and editor-in-chief, Newsweek Arabic Edition, will be present during the awards ceremony. Winners are selected based strictly on merit, particularly their contributions to the business community, the nation and the economy.-TradeArabia News Service