Embassy of the United Arab Emirates in Germany
Hiroshimastr. 18-20, D-10785, Berlin, Germany
Tel: + 49 3051 6516;
Fax: + 49 3051 6900
Email: berlin@uae-embassy.de
Website: www.uae-embassy.de
Bonn
Tel: + 49 228 267070;
Fax: + 49 228 267 0775
Munich
Tel: + 49 89 419 770;
Fax: + 49 89 41079450
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Abu Dhabi's Masdar and Bahrain’s Gulf Petrochemical Industries sign Carbon Emission Reduction Project
posted on 24/07/2008
 Masdar, Abu Dhabi's multi-billion dollar renewable energy and clean technology initiative, and Gulf Petrochemical Industries Company (GPIC) yesterday signed an agreement to monetize the emission reduction associated with carbon dioxide capture and recycling at GPIC's fertilizer facility in Bahrain, under the Kyoto Protocol's Clean Development Mechanism (CDM).
The project, which will capture carbon dioxide from flue gas and then recycle the captured gas as feedstock in the production of urea and methanol, is expected to reduce more than 100,000 Tons of CO2 equivalent per year as of 2010.
The project will be developed under the Clean Development Mechanism, a project-based regulatory mechanism governed and audited by the United Nations (UN). CDM provides financial incentives to reduce greenhouse gas emissions in countries that do not have binding reduction commitments under the Kyoto Protocol, by turning emission reductions into tradable assets or "Certified Emission Reductions" (CERs).
Masdar will manage the CDM process leading to the project registration at the United Nations regulatory body - CDM Executive Board, a pre-requisite to the generation of CERs. Masdar will also author a new CDM methodology for this first of a kind project type.
"Masdar is introducing the CDM to the hydrocarbon-based fertilizer industry in the Gulf region" said Dr. Sultan Al Jaber, Masdar's Chief Executive Officer. "The CDM provides an incentive to GPIC to develop the CO2 capture project, and we expect this project to pave the way for more carbon reduction initiatives in the industry." Gulf Petrochemical Industries Company is a joint venture for the manufacture of fertilizers and petrochemicals, and is equally owned by the Government of the Kingdom of Bahrain, Saudi Basic Industries Corporation, and Petrochemical Industries Company, Kuwait. It manufactures fertilisers and petrochemicals, producing almost 1.5 million tonnes of Ammonia, Urea and Methanol per year.
"This project represents an important milestone in GPIC's plans for sustainable growth and we are dedicated to leading the promotion of the CDM within the petrochemical industry" said Mr. Abdul Rahman Jawahery, General Manager, GPIC.
Since 2007, Masdar has been developing competences to assist oil, gas and industrial companies in the region in the development of CDM projects and monetization of the corresponding carbon emission reduction. – Emirates News Agency, WAM
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Abu Dhabi International Airport to host over 140 million year old dinosaur
posted on 24/07/2008
 In what could be deemed as a landmark in the Middle East, the Abu Dhabi International Airport will host over 140 million year old dinosaur to promote efforts of the emirate in preserving history, heritage and environment. The Abu Dhabi Airports Company (ADAC) will allow the Airport visitors to view the dinosaur free for three months with effect starting today. The visitors will be taken back deep into pre-history when they view 23- metre skeleton of dinosaur, weighing 4.5 tonnes. Named Einstein, the dinosaur was discovered in US in Dakota. It was transported to by ADAC in cooperation with Etihad Airline. Einstein arrived at the airport earlier this week, where it will spend the next two and half months on display in the Arrivals Hall in Terminal 1.
Discovered in Dakota, USA, Einstein has been carefully transported in ten cargo crates to Abu Dhabi courtesy of Abu Dhabi Airports Company (ADAC) and Etihad Airways. Accompanied and reconstructed by a team of palaeontology experts. The entire process was achieved in less than a day - though somewhat longer than the average passenger's 27.5 minute transit through Abu Dhabi airport.
Einstein's skeleton is now in situ, and the exhibition will formally open to the public next week, with information available on the dinosaur's past and vital statistics, as well as opportunities for visitors to have their photos taken with the relic. The exhibition will be free of charge, and visitors will be able to see Einstein without checking in or making a journey through the airport.
The display of dinosaur will give Abu Dhabi residents and visitors an unbeatable opportunity to view one of the first significant prehistoric dinosaur skeletons to be assembled in the Middle East to this day.
Dan Cappell, vice president non-aeronautical revenue, Abu Dhabi Airports Company, said: "This is a unique moment for Abu Dhabi. Einstein is an incredible relic from prehistoric times and provides a great educational opportunity for children and their families, allowing people young and old to learn about a part of the world's history that is normally only accessible in museums".
Einstein is an Apatosaurus (also known as a Brontosaurus), a long-necked vegetarian dinosaur who lived during the Jurassic Period, approximately 150 million years ago. The name Apatosaurus comes from the Greek meaning 'deceptive', referring to the difficulty early palaeontologists had in identifying the dinosaur's bones. – Emirates News Agency, WAM
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Emirates sets up Airbus A380 replica at Heathrow
posted on 24/07/2008
 Emirates airline will be welcoming more than 25 million visitors to the Heathrow in London with their latest branding effort on an approach roundabout to the airport. The Dubai based international airline of the UAE, has unveiled a new landmark for London, a giant model of an Airbus A380 at the gateway to Heathrow Airport.
The 45-tonne world record contender was unveiled yesterday morning at the "Emirates Roundabout", which was once called the Concorde Roundabout, by the airline's President Tim Clark.
The completion of the giant A380 replica is the culmination of an ambitious 18-month project to place the Dubai-based carrier at the gateway to the world's busiest international airport, and at one of the most prestigious advertising sites in the UK.
The one-third-scale model was flown in 10 component parts to Heathrow on July 5. Since then, specialist teams have been working around the clock to launch Emirates" "first" A380. The replica was built by US-based Penwal at its manufacturing base in California over a six month period, using plans provided by the A380's manufacturer, Airbus in Toulouse. It was then transported by giant truck to Ontario Airport in Los Angeles where it was flown to Heathrow aboard a massive Antonov cargo plane, organised by the Emirates SkyCargo team.
A special mechanical ramp was flown into London from Germany to offload the plane as it was too heavy for the Antonov's winch crane. The wing section of the plane required a police escort as it was driven from Heathrow to the roundabout site.
The world's leading aviation museum, The Smithsonian Air and Space Museum in Washington, has stated it is the largest known aircraft model in existence. A world record submission is currently with Guinness World Records.
Emirates currently flies to 101 cities in 61 countries across six continents. The Emirates' network is continuing to expand and in addition to services to Cape Town, Guangzhou, and Calicut which launched earlier this year, Los Angeles and San Francisco will start later in 2008. Emirates airline spends more than Dh1bn on advertising and in the past few years has increased its budget on sponsorship deals.
In UL, Emirates logo started appearing first on Chelsea t-shirts in the year 2000. However, "the significant date was 1999 when we became involved in the Cricket World Cup," says Simon. Next to follow was the takeover of Arsenal stadium in 2004 for a fee of Dh720mn that also included the naming rights to the stadium.
Looking ahead at the future, the airline will be the official sponsor to the Emirates Airline International Festival of Literature, which will take place in Dubai in 2009. More than 60 well-known international authors are expected to talk about their experiences at the festival. Reinstating Emirates presence in the skies, and off the skies, of UK, Simon concluded by saying: "We came to UK in 1987 and this underlines the fact that we are now a big player in the UK aviation world." - Emirates Business 24|7
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Study on 'Woman’s Work in the Private Sector' released
posted on 24/07/2008
 The Centre of Information Affairs in Abu Dhabi has issued a study entitled, "Woman's Work in the Private Sector", which tackles in detail the concept of woman's work in the private sector. The study highlights woman's contribution to economic development, giving prominence to the constant and continuous aid and support given to woman by the UAE government in all fields, under the wise leadership of President H.H. Sheikh Khalifa Bin Zayed Al Nahyan.
The study shows that woman has managed to play her role in economic and social development through her participation in different activities in line with the directives and guidance of the Mother of UAE, Her Highness Sheikha Fatima Bint Mubarak, Supreme Chairperson of the Family Development Foundation and Chairperson of UAE General Women's Union, who constantly provide aid and support to Arab and Gulf women in general and UAE woman in particular.
The study adds that Sheikha Fatima encourages UAE young women to take part in developing the nation and leading it progress and prosperity.
It points out that education is the ideal means for achieving progress and keeping abreast of modern developments and changes. "Woman has managed to occupy the highest leading positions," says the book, mentioning in particular the role of woman in business and trade.
The study also displays in detail the international efforts aimed at increasing Arab woman's participation in economic activities, especially in the sector of information technology and telecommunications, indicating that these fields provide woman with the opportunity to excel and innovate. – Emirates News Agency, WAM
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DUBAL publishes first sustainability report
posted on 24/07/2008
 Demonstrating its commitment to responsible corporate citizenship, Dubai Aluminium Company Limited (DUBAL) - the world's seventh largest producer of high quality primary Aluminium - has published the company's first-ever Sustainable Development Report.
Designed to inform stakeholders about DUBAL's initiatives to safeguard the company's sustainability for the future, the report follows the internationally accepted guidelines detailed within the Global Reporting Initiative (GRI) Mining and Metal Supplement Pilot Version 1.0 (February 2005) while simultaneously aiming to satisfy the AA 1000 Assurance standards. It covers the company's economic contributions, environmental impact and social performance statistics from 2004 to 2007, with specific emphasis on the 18-month period to 31 December 2007.
Abdulmunim Bin Brek, General Manager, Engineering, Expansion and EHS), who presented the first copy of the printed report to Abdulla Kalban (CEO) on Wednesday, described the document as a transparent expression of DUBAL's accountability to its various stakeholders. 'This report demonstrates DUBAL's determination to review the company's performance and publicly report its progress on a regular basis,' said Bin Brek.
Kalban concurred, explaining that sustainable development is about ensuring that the business remains viable and contributes long-term benefits to society by taking the company's social, environmental and economic impacts into consideration at all times.
'The key message in DUBAL's sustainable development strategy is the company's believe that the safety and health of people - both employees and the surrounding community - are our fundamental corporate responsibility,' says Kalban. 'This is encapsulated in our quest to achieve 'No harm to people and no harm to environment'.
This commitment includes an overriding goal of zero lost time injuries, towards which we have made good progress - the lost time injury frequency rate, measured per million man hours, was 0.23 in 2007 compared to 2.31 in 2004. It also embraces a drive to minimize the impact of our operations on the environment, where DUBAL is well ahead of industry-wide initiatives to reduce emissions of greenhouse gases in particular.' – Emirates News Agency, WAM
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DubaiPTG, region’s first independent trading arcade, records robust growth
posted on 24/07/2008
 Dubai Professional Trading Group (DubaiPTG) has reported that its trading volumes have exceeded one million contracts or lots traded per month, making it the most active derivative trading centre in the Middle East.
Since launching in December 2007, DubaiPTG, the Middle East's first independent trading arcade, has succeeded in attracting a number of top independent traders from both Europe and the Middle East, leading to a growth in trading volumes which have risen quickly, with contracts traded increasing by 80 per cent between May and July 2008.*
"Having surpassed the 'one million lots per month' milestone, DubaiPTG's volumes are now materially higher than the total of all contracts being traded on the UAE's derivatives exchanges," said James Hume, Chairman of DubaiPTG. "Reaching this volume at the six-month point in DubaiPTG's evolution also underscores Dubai's rapidly growing status as a major financial hub and the viability of DubaiPTG's business model."
DubaiPTG's high-tech trading room, first-rate facilities and sophisticated risk management systems provide professional traders with everything they need to trade more than 47 global financial markets.
Traders from international markets have been initially attracted to DubaiPTG on the strength of Dubai's tax-free status, central position and lifestyle benefits. In addition, DubaiPTG offers its traders first class operational facilities including the most up-to-date technology and unfettered market access across the globe as well as its Total Assistance Programme, a turnkey solution for traders relocating to Dubai.
DubaiPTG provides both full-time traders and trainees with the facilities to trade the world's financial markets, giving them access to sophisticated trading technology, direct access to the world's exchanges and the benefit of wholesale rates of commission on each trade.
The trading arcade - a joint venture between experienced Dubai-based market professionals and the Dubai Multi Commodities Centre - is the first trading hub in the Middle East for both professional and new traders looking to establish a base in one of the world's fastest-growing, safest and exciting cities. – The Gulf Today
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Emaar to organise sale of Canadian development
posted on 24/07/2008
 Emaar Canada, a subsidiary of Emaar Properties, said yesterday that sales of The Wills Creek town houses, its first Canada venture, will be conducted in Dubai on Saturday at Downtown Living Sales Centre. The Wills Creek will be spread across 17 acres as a fully integrated residential community in South Surrey of British Columbia. The complex will harness the earth's energy for heating through geothermal technology, allowing homeowners to reduce their carbon footprint. The initial cost of a geothermal system is greater than a conventional natural gas furnace, but owners reap substantial savings over time, anywhere between 30 to 60 per cent in reduced bills.
The interiors of the town homes will feature extensive use of natural materials. Community amenities will include the Creek Club, a free-standing river rock-clad building, which houses a state-of-the-art fitness centre, multi-purpose lounge and spacious locker rooms. Outside the Club will be an outdoor, heated lap pool and hot tub in a naturally landscaped setting.
"Wills Creek town houses have gained strong investor response. With the sale in Dubai, Emaar is offering a special opportunity for residents in the emirate to own a home in Canada," said Robert Booth, managing director of Emaar Canada. "Canada is a preferred destination for UAE nationals and expatriates for vacations as well as for exploring career and educational prospects. The location of Wills Creek in South Surrey assures good returns, making the homes an ideal buy for investors and home-users," he added. - Emirates Business 24|7
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Dubai rents jump 22pc
posted on 24/07/2008
 Residential rents in Dubai shot up 22 per cent year-on-year, but still lower compared to the previous figure, data released by Asteco Property Management, a property services consultancy firm in the UAE, show.
Residential buildings along Sheikh Zayed Road continue to be the most expensive, recording the highest annual rental growth of 51 per cent. Bur Dubai and Ghusais areas posted increases of 42 per cent and 40 per cent respectively. "Bur Dubai continues to hold its position as the preferred location offering a variety of conveniences, transport options and entertainment despite traffic woes," Asteco said in a statement yesterday, adding that the area has an occupancy rate of 90-95 per cent.
Annual rents for studios and one-and two-bedroom apartments on Sheikh Zayed Road, Downtown Burj Dubai, Jumeirah Beach Residence and Dubai Marina range between Dh75,000 and Dh220,000.
The most expensive three-bedroom apartments are at the World Trade Centre area which command a whopping Dh410,000-590,000 per year, Asteco said, citing its latest study.
Asteco also said that land prices, which rose 50 per cent to Dh400 per sq ft during the second-quarter of 2007, are also a key factor affecting development costs and rental fees. Analysts have also noted a drop in the growth rate of rental fee increases in Dubai because of a rent cap and as more projects are delivered to the market, but said they do not advocate more government restrictions on the rental property sector.
Further regulation of the market, which could eventually correct itself, would only scare off investors, according to Tariq Ramadan, the chairman of Richville Advisory Group, a Dubai-based real estate advisory and marketing company.
Marcus Arbourne, the head of research, consultancy and valuation at Asteco, noted that the slowdown was due to the two-year five-per cent rent cap being imposed by the government and as more property projects have been finished.
"The market will adjust itself in time," Ramadan said. "Hopefully, the market will become mature-I would not say saturated-with equal supply and demand, and the prices will be adjusted." He and Arbourne said rental fees are also seen to become stable by late 2010 or early 2011, except those for new units that are seen to rise depending on the amenities being offered in buildings. "We will see a decline in the growth rate of rental fee increases because of the completion of more projects in both freehold and non-freehold properties," Ramadan said, adding that the rent cap has been helpful to many tenants, although it does not protect the new ones. – Khaleej Times
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RAK Properties nets Dh225 million in the first half of the year
posted on 24/07/2008
 RAK Properties, the most prominent property developer in Ras Al Khaimah, has announced a net profit of Dh225 million for the first half of the year ended 30th June 2008. The company sold residential and commercial units worth Dh1106 million in the first half of 2008, which is 115.60% over the same period in 2007. The sale volume is increasing exponentially and the company is currently looking at expanding into regional and international markets. The sales performance continues to be a solid proof that the market has accepted RAK Properties as their preferred developer.
The RAK Properties portfolio boasts diverse residential, commercial and leisure facilities. Its developments in Ras Al Khaimah include Julfar Towers, a Dh500 million twin-tower, and Mina Al Arab, a Dh10 billion mixed-use waterfront resort community. RAK Properties is also developing RAK Tower, a Dh300 million project, in Abu Dhabi. RAK Properties has other projects with a specific focus in the Abu Dhabi real estate, which will be launched at appropriate time. – Emirates News Agency, WAM
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Food prices not expected to rise
posted on 24/07/2008
 Consumers in the UAE will be insulated against rises in the cost of basic foods despite recent global increases, says a top official. Ministry of Economy Under-Secretary Mohammed Ahmed Abdulaziz Al Shihhi told Emirates Business that prices would not increase in the near future thanks to measures taken to ensure stability. He was speaking after the US this week witnessed further rises in commodity prices, which are expected to be passed on to consumers there.
"We have been witnessing a surge in food prices all over the world due to many factors," said Al Shihhi.
"However the ministry has launched several initiatives to make sure the prices of basic foods are fixed in major supermarkets such as LuLu and Carrefour as well as by all Co-operative societies." But he said the prices of items not covered by the initiatives could go up because of global increases. – Emirates Business 24|7
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