posted on 06/12/2013
The Emirates Institution for Advanced Science and Technology (EIAST) has announced that the recently launched DubaiSat-2 earth observation satellite has successfully been deployed in orbit and all systems have been tested and verified.
The first communication with DubaiSat-2 was established just over an hour after separation from the Dnepr rocket and the mission critical telescope was operated successfully and it captured the first image just 24 hours after launch, the area captured was of Seer Bani Yas island in Abu Dhabi.
DubaiSat-2 provides 1m resolution in the panchromatic band and 4m multispectral as well as a color 1m product, the imaging swath is 12 km and DubaiSat-2 has the ability to image and download more than 18,000 square kilometers a day from its Dubai Ground station based in Al Khawaneej, Dubai.
Salem Al Marri, Assistant Director General for Scientific and Technical Affairs, EIAST, said, "The launch of DubaiSat-2 marks a milestone for EIAST, our team has participated in the design and development of 50% of this mission and it has taken over 5 years of development, it is a very proud moment for us to see the results of all the hard work and dedication of the team, The satellite is the culmination of joint efforts over the last five years between the UAE and the South Korean development team and throughout the long mission development time in Korea our team has done its best to lift the UAE flag high into space and make sure we continue developing the UAE and its young engineers.
"Since its launch, DubaiSat-2 has orbited the globe capturing images from all five continents, the satellite has imaged over 833 images, which is equivalent to 120,000 square kilometre. These images will be utilized in many such as in monitoring development projects, urban planning, environmental monitoring, and in different value added products developed by EIAST team to support decision makers in different sectors. We plan to work with all government departments to ensure maximum usage of these images for the benefit of UAE and its people." added Omran Sharaf, EIAST's Director of Space Image Processing '&' Analysis Department, EIAST.
Commenting on the operation of the satellite, Mohammed Alharmi, Director of Ground Services Department, said, "The satellite operations team at EIAST was successful in stabilizing the satellite and testing all subsystems. The first contact with the satellite was established 90 minutes after launch, and the team used two different ground stations to track the satellite and monitor its condition. Once we made sure that the system was stable we started imaging different areas around the globe to test the camera and calibrate the sensors" EIAST has released images from DubaiSat-2 taken from all over the world in 1 meter resolution, the areas imaged include the Golden Gate bridge in San Francisco, Tokyo Bay, The Coliseum in Rome and an image of Burj Khalifa taken just before National Day on December 1st.
DubaiSat-2 weighs 300 kg and is 2 meters in height and 1 meter wide. It is equipped with an electrical propulsion system that allows the control of its altitude above ground level and modifies it automatically in the event of any deviation from the orbit through a set of predetermined and saved commands sent from the control station. The new satellite is equipped with innovative technology to enhance maneuvering capability and increase agility by 300 per cent as compared to Dubai Sat-1.
DubaiSat-2 was launched into space from the Yasny Launch Base in Russia on board the Dnepr space launch vehicle on November 21, 2013.
EIAST was established by the Dubai Government in 2006 with the goal of promoting a culture of advanced scientific research and technology innovation in Dubai and the UAE, and enhancing technology innovation and scientific skills among UAE Nationals. It is mainly involved in outer space research and development; satellite manufacturing and systems development; space imaging; and ground station services and support for other satellites. - Emirates News Agency, WAM
posted on 06/12/2013
The Hague: The UAE is deeply disappointed at the international community's inability to put an immediate end to the dangerous, aggravating tragedy the Syrian people are experiencing and which has so far claimed more than 100,000 lives and left millions homeless in a flagrant violation of the international law principles and international humanitarian law.
'We condemn and reject in the strongest possible terms all crimes against humanity and the use of chemical weapons in conflicts. We also denounce the use of chemical weapons in the Ghouta area of Damascus, Syria, in which thousands of civilians and children were killed and we call for revealing the truth and bring those responsible to justice,' Abdullah Hamdan Alnaqbi, Ambassador of the United Arab Emirates to the Kingdom of the Netherlands, and Permanent Representative at the Organisation for the Prohibition of Chemical Weapons (OPCW) told the 18th conference of the OPCW, in The Hague.
'The UAE is still firmly believing in the objectives of the Chemical Weapons Convention (CWC), a unique multilateral disarmament agreement strives for destruction of existing chemical weapons stockpiles and prohibits activities like development, production, possession, storage, transfer and use of chemical weapons and their precursors. Through this convention, the world is committed to deliver remarkable progress towards total disarmament and prohibition of weapons of mass destruction for the safety of the humanity at large ,' he said.
'Regrettably, we are shocked to see the use of chemical weapons in front of the international community eyes to kill innocent civilians including children in a gross contravention of international laws,' he added.
He also regretted the lack of progress in efforts to convene the international conference on establishing a zone free of weapons of mass destruction in the Middle East. - Emirates News Agency, WAM
posted on 06/12/2013
New York: Lana Nusseibeh, Permanent Representative of the United Arab Emirates to the United Nations, has emphasised the leading role of H.H. Sheikha Fatima bint Mubarak, Chairwoman of the General Women's Union (GWU), Supreme Chairwoman of the Family Development Foundation and Chairwoman of the Supreme Council for Motherhood and Childhood, in guiding national efforts aimed to promote gender equality, the advancement of women in all areas of life, and the enhancement of the role of women to become essential contributors to the country's economic and political development.
Ambassador Nusseibeh was invited to participate as a panellist at a Stakeholders Forum Meeting convened on 4th and 5th December by UN Women, the United Nations agency dedicated to gender equality and the empowerment of women, at the United Nations Headquarters in New York. The meeting aimed to review the challenges in the implementation of the Millennium Development Goals, MDGs, related to gender equality and the advancement of women.
In her statement, Nusseibeh thanked UN Women for the positive role they have played in placing women's issues at the front and centre of the development agenda. She said that she supported Lakshmi Puri's views in her call to accelerate the implementation of the MDGs as 2015 approaches. Ambassador Nusseibeh also stressed the urgency of providing assistance to the most vulnerable groups of women in areas of conflict, both in the Middle East region and globally.
In her statement, she reflected on the UAE's achievements in the areas of gender equality and women's empowerment, and noted that the UAE ranks first in the region in educational parity between boys and girls, according to the World Gender Gap Report 2013, published by the World Economic Forum.
Ms. Nusseibeh said, "This success is a direct result of the vision adopted by the leadership of the UAE initiated by the late Sheikh Zayed bin Sultan Al Nahyan, first President and founder of the UAE 42 years ago. Such a vision was further developed and implemented by Sheikha Fatima bint Mubarak through her leadership of the General Women's Union, and the Family Development Foundation which have played instrumental roles in the development of the necessary national legislation to empower women across all sectors." When discussing the practical lessons the UAE can offer the international community in terms of looking at the challenges of achieving the MDGs and gender equality, Ambassador Nusseibeh said, "A key lesson we in the UAE can share is the necessity of having government- driven policies to translate the vision of the UAE's leadership into legislation on equality. This has been vital to achieving concrete progress on women's rights in the UAE. Challenges remain and we are working towards not only having the right legislative framework in place, but also ensuring its implementation across all sectors." - Emirates News Agency, WAM
posted on 06/12/2013
H.H. Sheikh Abdullah bin Zayed Al Nahyan, Foreign Minister, received yesterday at the ministry's headquarters, with the visiting Portugal's Deputy Prime Minister, Paulo Portas.
During the meeting, they discussed ways to boost the bilateral relations in all avenues.
Sheikh Abdullah welcomed the visit of the Portuguese deputy prime minister and his accompanying delegation.
He expressed his hope that the visit would contribute to further bolstering ties of friendship and cooperation in order to meets the aspirations of the leaderships and peoples in the two countries for broader cooperation in all fields.
Sheikh Abdullah underscored the UAE and Portugal were striving to develop cooperation and friendship relations in the economic, investment, and increase trade exchange and investment opportunities in the light of potentials of the two countries in order to meet the aspirations of the two friendly peoples.
For his part, Paulo Portas expressed his happiness to visit the U.A.E, which aims to enhance relations between the two countries in all domains, in addition to consultations and coordination on issues of mutual interest, especially the latest developments as well as exerting all possible efforts to enhance stability and peace in the region. - Emirates News Agency, WAM
posted on 06/12/2013
H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs received today at Sih Al Sallam the visiting Portugal's Deputy Prime Minister Paulo Portas.
During the meeting, they discussed bilateral relations and ways to enhance them in addition to issues of mutual interests. - Emirates News Agency, WAM
posted on 06/12/2013
Dr. Ali Obaid Al-Yabhouni, UAE Governor for OPEC, has expressed his pride for being appointed Chairman of the Board of Governors for the year 2014, by the 164th Meeting of the Conference of the Organisation of Petroleum Exporting Countries (OPEC), held in Vienna, Austria, on Wednesday.
Commenting on his Twitter account, Al Yabhouni said, "We are ahead of a year full of challenge and uncertainty.' The UAE top oil official joined the ADNOC Group of Companies in 1992 and has held a wide range of senior positions. In November 2007, he became Chief Executive Officer of National Gas Shipping Company Ltd (NGSCO) and since January 2009 has also led Abu Dhabi National Tanker Company (ADNATCO).
In addition to being UAE Governor for OPEC, he is a Board Member of Abu Dhabi Oil Refining Company (TAKREER) and Chairman of TAKREER Board Advisory Committee.
He is a standing member of the International Energy Forum (IEF) Executive Board; World Energy Council (WEC) and the National Communication Committee, UAE Ministry of Energy.
Additionally he is President of the Emirates Association for Energy Economics (EAEE) and President/Chairman, of the UAE Shipping Association. He is also Chairman of DNV Technical Meetings UAE as well as the Lloyd's Register Middle East and Africa Advisory Technical Committee.
He majored in Economics and Political Science at University of Southern Indiana and holds a MBA from South Eastern University, Washington D.C., and a PhD in Maritime Law from Australia. - Emirates News Agency, WAM
posted on 06/12/2013
H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in the Western Region and Chairman of the Red Crescent Authority (RCA), has affirmed that thanks to the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the UAE is witnessing continuous progress in the field of voluntary work.
He said that the wise policy and the smart vision of the leadership stimulates the youth to become involved in voluntary work, since they follow the approach of their leaders and forefathers in this vital field.
In his statement on the occasion of International Voluntary Day, which falls on 5th December every year, Sheikh Hamdan added that the support given to the youth by Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, and His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has qualified them to shoulder their responsibilities towards their homeland and humanity.
He said that the UAE youth are more responsive to the repercussions of the humanitarian situation around us and a source of pride for the nation.
Sheikh Hamdan also underlined the importance of voluntary work, since it is a national, moral and societal commitment. He also expressed his appreciation to all the volunteers of the RCA, for their role to provide humanitarian services, which has a positive impact on the affected victims. He also commended their role to highlight the country's pioneering role in the international humanitarian arena. - Emirates News Agency, WAM
posted on 06/12/2013
The Kazakhstan National Company Astana-2017, which is hosting the World EXPO in 2017, devoted to the theme of 'Future Energy', has passed its warmest congratulations to Dubai, for its successful bid for EXPO 2020.
An official announcement said that, "It is no coincidence that one of the Dubai 2020 core themes is 'Sustainability - lasting sources of water and energy'. The way the world sources its energy in centuries to come will be a key theme both in 2017 and 2020. Future energy is one of the most pressing issues facing the world today. Kazakhstan is proud to be among the nations at the forefront of increasing awareness on the topic and leading through action, as its Green Economy programme demonstrates. As we develop our plans for EXPO 2017 we look forward to collaborating with Dubai in many constructive ways, both before and after 2017.
"Only by a concerted effort to increase awareness and catalyse technological and policy advancement on a global scale can a true transformation in energy be achieved." EXPO 2017 expects to host 100 countries and 5 million visitors from June to September, 2017.
"Astana EXPO-2017 - Future Energy, will be a major catalyst for collaboration in the area of the development of sustainable energy. We look forward to working together with Dubai on further building this core theme in World EXPO 2020. Progress is one of the core values of the BIE (Bureau of International Expositions)," said Talgat Yermegiyaev, Chairman of the National Company Astana-2017.
EXPO 2017 is expected to open the Central Asia region to the world and increase business and investment opportunities, especially in the new energy sectors. Through its Green Economy programme enacted in 2013, Kazakhstan is fully committed to a transformation to greener, more sustainable forms of energy. - Emirates News Agency, WAM
posted on 06/12/2013
Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has received a congratulatory cable from French President Francois Hollande on UAE winning to host World Expo 2020 in Dubai.
His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has also received a similar cable from the French president.
H.H. Sheikh Abdullah bin Zayed Al Nahyan, the Foreign Minister, has received a similar cable from French Foreign Minister Laurent Fabius. - Emirates News Agency, WAM
posted on 06/12/2013
Dubai World Trade Centre (DWTC) delivered its largest off-site event contract to date for the biennial Dubai Airshow 2013, as the company takes off on a targeted expansion strategy for a bigger slice of the major event catering business.
The multi-million Dirham contract, set to run for five years and cover three Dubai Airshows and one Middle East Business Aviation (MEBA) event up to 2017, is a major coup for DWTC's multi-award-winning Hospitality Division.
The agreement, signed with the shows' organiser, F'&'E Aerospace, got off to a flying start for the record breaking Dubai Airshow 2013, which saw US$206.1 billion worth of aviation deals signed and its largest visitor and exhibitor attendance.
"Dubai is famed for its hospitality and with the Dubai Airshow truly welcoming the world, we needed to deliver a solution befitting the occasion. This was truly an end-to-end catering contract, fully utilising both our vast facilities and resources onsite at Dubai World Trade Centre and at the show venue to clearly demonstrate the depth and breadth of our service offering," said Mohammed Al Jumairi, Vice President - Hospitality, DWTC.
With more than 60,692 visitors and 1,046 exhibitors from 50 countries at the show, DWTC's Hospitality Division was tasked with delivering up to 105,618 meal covers. During the event build-up and show days, 63 tonnes of foodstuff was prepared and served. A total of 325 chefs, working 54,000 man hours, led a 1,000 strong team, delivering an additional 30,000 canapes and sandwiches a day.
DWTC, which had been planning the catering for more than 18 months, also played a key role in advising on the catering set-up at the show's new home, Dubai World Central, which it believes will set the hospitality delivery benchmark for the coming years.
"This has very much been a partnership with F'&'E Aerospace from the beginning. With the show taking off from a new venue, it has given us a much wider scope to be involved in the planning and execution from an early stage, allowing us to tap into our more than a decade of event experience to deliver a world-class solution that was efficient, cost effective and of the highest quality," added Mr. Al Jumairi.
"We had significant runway to plan this and in the process have further built up a rich knowledge pool that will allow us to continually enhance our offering for the shows, as well as assist us in expanding our business reach to other sectors." - Emirates News Agency, WAM
posted on 06/12/2013
Bali: Sultan bin Saeed Al Mansouri, Minister of Economy, has discussed with the Irish Minister for Jobs, Enterprise and Innovation, Richard Bruton, ways to strengthen economic relations between the two countries in various sectors. The discussions took place on the sidelines of the 9th WTO Ministerial Conference, currently being held on the Indonesian island of Bali.
Al Mansouri, who led the UAE delegation to the meetings of the WTO Conference, shed light on the outstanding bilateral economic relations between the UAE and Ireland. He pointed out that the volume of trade exchange between the two last year jumped by 30 per cent compared to 2011, amounting to US$ .1 billion.
The meeting was attended by Ahmed Abdullah Al-Musalli, UAE Ambassador to the Republic of Indonesia, Abdullah Ahmed Al Saleh, Under-Secretary of the UAE Ministry of Economy and Juma Mohammed Al Kait, Assistant Under-Secretary for Foreign Trade Affairs at the Ministry of Economy.
The Irish minister expressed his country's admiration for the tremendous economic development witnessed by the UAE, culminating in Dubai's win of its bid to host EXPO 2020.
He also added that he will visit the United Arab Emirates in January next year to represent his country at the Arab Health Congress 2014 in Dubai. - Emirates News Agency, WAM
posted on 06/12/2013
Bali: Sultan bin Saeed Al Mansouri, Minister of Economy, has discussed with Dr. Mukhisa Kituyi, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), ways to boost cooperation between the two sides on the technical assistances programmes provided by UNCTAD in the areas of trade and development and investment.
The meeting comes on the sidelines of the 9th WTO Ministerial Conference which is currently being held on the Indonesian island of Bali.
During the meeting, the UNCTAD Secretary-General confirmed his participation in the Annual Investment Meeting 2014 (AIM) organised by the UAE Ministry of Economy to be held in Dubai from 8th to 10th April 2014. He also congratulated the UAE on Dubai's winning bid to host EXPO 2020.
Also present were Ahmed Abdullah Al-Musalli, UAE Ambassador to the Republic of Indonesia, Abdullah Ahmed Al Saleh, Under-Secretary of the UAE Ministry of Economy and Juma Mohammed Al Kait, Assistant Under-Secretary for Foreign Trade Affairs at the Ministry of Economy. - Emirates News Agency, WAM
posted on 06/12/2013
Cairo: The Khalifa Fund for Enterprise Development (Khalifa Fund) and Egypt's Social Fund for Development (SFD) signed a framework agreement yesterday outlining joint efforts to boost development and opportunities for small and micro sized enterprises in Egypt. The agreement was signed on the sidelines of the Egypt/GCC Investment Forum, which kicked off in Cairo yesterday.
Ibrahim Ahmed Al Mansouri, Khalifa Fund's Chief Operations Officer, and Ghada Wali, SFD's Managing Director, signed the agreement in the presence of the Egyptian Prime Minister, Dr. Hazem El Beblawi, UAE Minister of State, Dr. Sultan Ahmed Al Jaber, Egypt's Deputy Prime Minister for the Economic Affairs and Minister of International Cooperation, Dr. Ziad Bahaa-Eldin and the UAE's Ambassador to Egypt, Mohammad bin Nukheira Al Daheri.
The framework agreement stipulates that the UAE will provide US $200 million (Dh 736 million), via the Khalifa Fund, to the SFD in order to catalyse the start-up of small and micro sized enterprises with the overarching goal for these businesses to achieve significant socio-economic impact throughout Egypt.
The agreement aims to establish a mutually-beneficial framework for future cooperation between both entities through investments in projects which will contribute to the development of impoverished areas throughout the country, with a focus on expanding social funding programmes for women and youth with an objective of increasing employment opportunities and income generation.
Dr. Sultan Ahmed Al Jaber said, "The wise leadership of the UAE has asked us to identify development opportunities for Egyptian citizens in various sectors. We are pleased to sign this agreement during the Egypt/GCC Investment Forum, a platform that demonstrates our willingness to further the cooperation between Gulf countries and Egypt. I would like to take this opportunity to thank the Khalifa Fund for Enterprise Development and Egypt's Social Fund for Development for their efforts in creating this agreement, which sets the structural framework for the launch of many innovative projects centred around sustainability and empowerment." He added, "This agreement reflects the UAE's vision to boost sustainable development and foster Egypt's human capital; focusing specifically on women and youth. We are confident that these segments of society will be able to launch their own unique projects and businesses, which will contribute to income generation and poverty reduction." He concluded by saying that the strength of the relationship between both countries will continually ensure that the UAE will stand by the people of Egypt during challenging times as it regains its regional leadership position. Dr. Al Jaber also stressed that economic stability is the foundation of national security as well as political and social stability.
Al Jaber emphasised that this agreement aims to foster a new and innovative entrepreneurial culture that hopes to instil optimism and positive mindsets.
Dr. Ziad Bahaa-Eldin, Deputy Prime Minister for Economic Affairs and Minister of International Cooperation of Egypt, said, "The United Arab Emirates is a sister country to the Arab Republic of Egypt and cooperation between the two countries in the field of small enterprises seeks to implement a strategic partnership for investment in the Egyptian economy, and the promotion of an entrepreneurial culture through more production, innovation, and development." Dr. Bahaa-Eldin stressed that, "The United Arab Emirates is notorious for its nationalist positions in support of all Arab countries. The active participation of the UAE in the Egypt-GCC Investment Forum and the signing of this agreement reflects the strength of our fraternal relations with the UAE and the depth of the bonds between the two countries." Khalifa Fund's Chief Operations Officer, Mr. Al Mansouri, agreed, calling the agreement "an important step towards building strategic relations with the SFD as it seeks to reduce poverty and unemployment." Furthermore, he described the agreement as an opportunity to work closely with its new partners at the SFD and learn more about Egypt's numerous promising industries and sectors that may benefit from the joint venture through capacity building efforts to become sources of creative job opportunities.
Ghada Fathy Waly, Managing Director of the Social Fund for Development of Egypt, said, "The agreement constitutes an important step towards further cooperation with our brothers in the UAE through the Khalifa Fund for Enterprise Development, which is a pioneering institution on the Arab and Regional levels in the field of diffusion and promotion of entrepreneurship, and the creation of an enabling environment for the Small and Medium Enterprises sector." Ms. Waly added, "The two Funds will work side by side to put in place the organisational and financial frameworks that will determine the features of the future cooperation between the two parties." She continued, "The focus will be on developing the poorest areas, and maximizing job creation especially for young people and women." According to the framework agreement, the Khalifa Fund will provide financial and non-financial support for small and micro ventures through the Social Fund for Development. The agreement also stipulates new levels of cooperation between both parties and the necessity of data sharing to ensure the success of the mission and achieve the framework's objectives.
The Egypt/GCC Investment Forum, in collaboration with the United Arab Emirates, aims to strengthen the strategic partnership between Egypt and the GCC. The Forum focuses on updating GCC countries on the various investment opportunities in Egypt, the most recent amendments to investment laws, as well as providing a platform for candid discussions on the current investment challenges.
On its opening day, the Forum was attended by over 1000 delegates from Egypt and the GCC.
posted on 06/12/2013
Cairo: Egypt's interim president, Adly Mansour, yesterday received Dr. Sultan bin Ahmed Sultan Al Jaber, UAE Minister of State, at the conclusion of the two-day Egypt/GCC Investment Forum, which Al Jaber said has succeeded in attracting Gulf and international large investors to Egypt's economy as "it is accelerating on the right track." Al Jaber, in a joint press conference with Egyptian Minister of Investment, Osama Saleh, following the meeting with President Mansour at the Presidential Palace, re-affirmed the need for providing all necessary capabilities to bolster stability in Egypt, and said that the Egyptian President was briefed on the successful outcome of the Egypt/GCC Forum and on the investments and initiatives launched by the UAE to support the Egyptian people.
Al Jaber said he conveyed greetings of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to the Egyptian president.
"In addition to our success in attracting investors from the Gulf region, the Egypt/GCC Investment Forum was able to attract serious and large investors from U.S.A., China, Russia, Malaysia and Europe. This reflects wide international interest in Egypt as one of the world's top destination for foreign investment," he said noting that the UAE is considering new investments in Egypt in sectors such as oil, gas, energy, infrastructure, housing and agriculture.
"There is confidence that the growth of Egypt's economy is accelerating on the right track. The huge efforts made by the Egyptian government will bear fruit soon," Al Jaber affirmed citing Egypt's geographical location, abundant natural resources and highly-qualifed human resources among the advantages which will contribute to a qualitative leap in the country's investment and sustainable development.
Al Jaber also noted that the UAE's Khalifa Fund for Enterprise Development signed an agreement with Egypt's Social Fund for Development (SFD) to support Small and micro-sized businesses in Egypt.
Signed on the sidelines of the Egypt/GCC Investment Forum, the framework agreement stipulates that the UAE will provide US $200 million (Dh 736 million), via the Khalifa Fund, to SFD in order to catalyse the start-up of small and micro sized enterprises which will contribute to the development of impoverished areas throughout the country, with a focus on expanding social funding programmes for women and youth. - Emirates News Agency, WAM
posted on 06/12/2013
Dubai Financial Market (DFM) yesterday announced that "Al Dhabi Brokerage" and "Securities and Investment Company UAE" have been accredited to provide Margin Trading, lifting the total number of DFM brokerage firms providing this service to 11 companies, 8 of them have been accredited since the beginning of this year. The exchange is currently processing similar applications from other brokerage firms in collaboration with the Securities and Commodities Authority (SCA).
Margin Trading permits brokerage companies to fund a percentage of the market value of securities traded, and secure as collateral for the same securities or any other collateral as required by the SCA's license. - Emirates News Agency, WAM
posted on 06/12/2013
Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as Ruler of Dubai, has issued Decree No. 30 for 2013, partially amending Decree No. 34 for 2009, regarding the formation of the Special Judicial Committee assigned to settle the Abed Al Boom financial status.
Article 04 of the new decree states that: "creditors and investors that submit their claims and petitions to the Committee after 31st of December 2013 do not benefit from the settlement; without prejudice to their rights, and they may claim their monies from any further settlements." Additionally, the Judicial Committee called all creditors, whether corporate legal or individual legal, that had not submitted their claims and petitions, or those who did not complete their documentation, to submit their claims, petitions and supporting documents to the Committee before 31st of December 2013.
Pursuant to the Decree, the Special Judicial Committee is not liable to accept any claims or documents after the above mentioned date.
The Committee elaborates to say that those who fail to submit their claims prior to the above mentioned date will not benefit from this settlement, and they may file a criminal report with reference to the penal action.
Dubai Appeal Court and Chairman of the Judicial Committee, Judge Saeed Hilal Al Zabbi, asserted that the decree amendment authorised the Committee to determine the debtor's international assets, run settlements and distribute the liquidised monies to the creditors and investors whose claims had been endorsed by the Committee.
Judge Al Zabbi also clarified that binding the debtor to deposit all his monies in the Committee's account by a certain deadline, and defining 31st of December 2013 as the last date to accept creditors and investors' claims, will enable the Committee to adhere to the time limitation stated in the Decree. - Emirates News Agency, WAM
posted on 06/12/2013
His Highness Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah has issued Amiri Decree no. 14 for 2013, establishing the Sharjah Publishing City Free Zone Authority (SPC - Free Zone).
According to the decree, the SPC shall be incorporated as a body corporate with financial and administrative autonomy with the purpose of enhancing the emirate's image as a global hub for publishing and printing.
The SPC is mandated to carry out several activities, including the development, designing, using and maintenance of materials, programmes and databases of relevance to publishing and printing, as well as publishing, printing and distribution of newspapers, magazines and books and other associated media services.
The SPC's executive management shall be headed by the Chairman of the Sharjah Book Authority, who shall be tasked with the following: proposing general policies of the SPC and overseeing their subsequent implementation following approval by the ruler; sanctioning administrative and financial regulations and managing day to day operations of the city.
It shall also have an Executive Director who is to be appointed following the Chairman's recommendation and who shall be tasked to manage the city, submit regular reports to the Chairman, and to prepare the city's annual budget and closing accounts.
The decree provides for exempting all companies and staff based in the SPC from all taxes levied in the emirate, including income tax, for 50 renewable years from the date of operation.
Sheikh Sultan also issued the decree no. 13 for 2013, establishing the Sharjah Book Authorty (SBA) which will act as a platform for knowledge and intellectual exchange among peoples and cultures.
The SBA's is tasked with collecting and properly preseving Emirati, Arab and international ancient manuscripts, as well as development, designing, using and maintenance of materials, programmes and databases of relevance to publishing, printing, translation, libraries and other book-related matters. - Emirates News Agency, WAM
posted on 06/12/2013
Hala Abu Dhabi, the UAE capital's leading destination management company, and part of the Etihad Airways Group, has expanded its product portfolio with the introduction of tours and safari services in the United Arab Emirates.
An exciting range of city tours and desert safaris have been launched this week, operated by Hala Abu Dhabi's own fleet of vehicles. The tours are hosted by a team of multi-lingual guest guides employed directly by the company. The guides have been professionally trained in off-road driving, and they are first-aid certified and tour guide licensed by Abu Dhabi Tourism and Culture Authority (TCA Abu Dhabi).
To support the latest phase of its growth, Hala Abu Dhabi has also become the first company in the UAE capital to offer both male and female guides, with a team that includes the first woman in Abu Dhabi to be licensed as a guest guide and off-road driver by TCA Abu Dhabi.
Mr.Peter Baumgartner, Etihad Airways' Chief Commercial Officer, said, "City tours and desert safaris are a quintessential part of visiting the UAE on holiday, so we are extremely proud to operate these services in-house using a branded fleet of Hala Abu Dhabi vehicles.
"Whether you are visiting for a short break or a longer getaway, our own fully-trained guides will ensure an informative, authentic and fun-filled experience. Our focus is on the whole guest experience, with quality and safety at the core.
"The introduction of our tours and safaris services in one of the world's fastest-growing markets for inbound leisure tourism is testament to the continued expansion and diversification of Hala Abu Dhabi. It also reinforces our strategic endeavours to promote the best of Abu Dhabi and the UAE to visitors from across the world." Hala Abu Dhabi's signature tours and safaris include the "Hala's Desert Sunset Drive with BBQ", a gentle off-road experience in the heart of the UAE desert. This is followed by a relaxing evening under the stars at an Arabic-themed camp, with activities such as camel riding, henna painting, shisha-pipe and oriental dancing show.
Customers can also select "The Story of Abu Dhabi" half-day tour of popular landmarks across Abu Dhabi, including Sheikh Zayed Mosque, Heritage Village and Abu Dhabi Corniche. The tour also includes a visit to the UAE capital's ambitious future developments at Manarat Al Saadiyat. - Emirates News Agency, WAM
posted on 06/12/2013
Under the patronage of Sheikha Maitha bint Mohammed bin Rashid Al Maktoum, the first ever UAE ladies polo tournament will be organised in Dubai by Ralph Lauren Corporation in conjunction with Dubai Cares which will take place at Desert Palm from 10th-13th December, 2013.
Led by Sheikha Maitha, who will captain Team UAE, the tournament will be the first ladies-only event held in Dubai. The competition's organizers say that it highlights the growing participation of females playing professional sports in the United Arab Emirates.
"The Ralph Lauren International Ladies Polo Tournament represents a significant achievement for both the UAE and for women across the region," said, "Sheikha Maitha. "Polo has long been associated as being a tough game, however, the first ever ladies polo tournament allows women to cement their footprints in this sport. It gives me great honor to participate in this pioneering event and to blaze a path for women in the world of polo." The remaining three teams, Team Asia and two teams for Europe, consist of some of the highest handicapped female polo players across the globe. Team Asia will be captained by Ploy Bhinsaeng, Thailand's premier female polo player and Lady Polo Asia Ambassador. Team Europe 1 will be captained by Princess Anna Oettingen-Wallerstein, founder of the Girls Only tournament and Team Europe 2 captained by Katerina Zeka Dombiova, one of the brightest female polo players from Czechoslovakia. US's best ranking female polo player, Sunny Hale will be playing alongside Ploy for Team Asia with France's Christine Thome playing for Team Europe 1.
David Lauren, Executive Vice President of Advertising, Marketing and Corporate Communications said, "We are thankful for the support and participation of Sheikha Maitha and Dubai Cares in this first ever ladies polo tournament. This partnership reinforces the brand's leadership in major sporting events and our dedication to supporting the game of polo. We are thrilled to be a part of this prestigious and glamorous event." Tariq Al Gurg, Chief Executive Officer, Dubai Cares said, "We are grateful to Sheikha Maitha for her philanthropic efforts and selecting Dubai Cares to be part of this unique event. Sheikha Maitha has been an ambassador of Dubai Cares ever since its launch and took part in various activities such as travelling to one of our programs in Sudan. We are also pleased to work with Ralph Lauren on this prestigious event. Dubai Cares boasts a wide range of innovative partnerships that aim to alleviate the grip of poverty that spans generations. If not properly addressed, poverty can be an endless cycle. Through quality primary education, we work to break this cycle and fulfil every child's right to an education." As part of the partnership, polo players from the four competing teams will be outfitted in Ralph Lauren specially-designed polo mesh shirts in four bright colours; orange, pink, lime green and white, which will also be available exclusively in Ralph Lauren stores and corners in Dubai and Abu-Dhabi from December 9, for both women and men. Twenty per cent of all proceeds made from sales of these limited-edition tournament mesh polo shirts will benefit Dubai Cares, a UAE-based philanthropic organisation that aims to improve children's access to quality primary education in developing countries. - Emirates News Agency, WAM