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| A comprehensive guide
to current and future events and exhibitions in the UAE |
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Valuable concise reference source on the UAE,
covering political system, economy, business, history and heritage,
education, women, healthcare, tourism and environment. |
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Natural history of the UAE,
covering all animals and plants recorded in the Emirates. |
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Mohammed bin Rashid received Ecuador's Vice President
posted on 11/03/2010
 Vice President and Prime Minister of UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum received in Dubai yesterday Lenin Moreno Garces, Vice President of Ecuador, and his accompanying delegation.
Sheikh Mohammed and Graces reviewed ties of friendship and cooperation between the UAE and Ecuador and ways to enhance them.
Sheikh Mohammed welcomed the Ecuadorian Vice President's visit to the UAE and described it as a step in the direction of bolstering cooperation at all levels. He added that trade between the UAE and Ecuador grew recently by 32 percent, a testimony to the two countries' desire to strengthen their cooperation.
For his part, Vice President Graces expressed his country's willingness to open new avenues of cooperation with the UAE in the areas of tourism, commerce, culture and industrial investments. He said that his visit to the UAE came as fruition to the successful visit made by the UAE Foreign Minister H.H. Sheikh Abdullah bin Zayed Al Nahyan to Ecuador in October 2009. - Emirates News Agency, WAM
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Ecuadorian VP visits Rashid Paediatric Therapy Centre
posted on 11/03/2010
 Vice-President of the Republic of Ecuador Lenin Moreno Garces paid a visit today to the Rashid Paediatric Therapy Centre in Dubai. The Ecuadorian VP is currently on an official visit to the UAE. Accompanied by Sheikh Juma Bin Maktoum Al Maktoum, Managing Director of the Centre and other senior officials, he toured various sections of the Centre where over 250 children with special needs are receiving training at the hands of the best experts in the field. - Emirates News Agency, WAM
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GCC Ministerial Council renews support for UAE over its three islands occupied by Iran
posted on 11/03/2010
Riyadh - The GCC Ministerial Council has renewed its support for the sovereign right of UAE over its three Islands occupied by Iran, besides UAE sovereignty rights over its territorial waters, airspace, continental shelf and exclusive economic zone of the three islands.
The GCC Foreign Ministers, last night concluded 114th session of GCC Ministerial Council held at GCC Secretariat in Riyadh.
H.H. Sheikh Abdullah bin Zayed Al Nahyan, Foreign Minister, headed UAE delegation that took part in the meetings held under the chairmanship of Dr. Sheikh Mohammed Sabah Al Salem Al Sabah, Deputy Prime Minister and Minister of Foreign Affairs of Kuwait.
The Council in its statement regretted the failure of contacts with Iran to produce positive results towards resolving the issue of the islands, thus contributing to strengthening security and stability in the region by peaceful means, calling on Iran to respond to the efforts of the UAE to resolve the issue through direct negotiations or recourse to the International Court of Justice.
On the other hand, the Ministerial Council condemned the assassination of Hamas leader Mahmoud Mabhouh in Dubai, which constituted a violation of UAE sovereignty and security as well as a violation of international law.
The Ministerial Council also decided to support UAE re-nomination for the membership of International Civil Aviation Organisation (ICAO) of the third category during the period from 2010 to 2013. It also decided to support UAE re-nomination for membership of the Governing Council of the International Telecommunication Union and support its candidate for the membership of the Radio Regulations Board (RRB) during the period from 2010 to 2014
The Ministerial Council condemned the Israeli police and border guards for breaking in courtyards of Al-Aqsa Mosque in Jerusalem and the excavations by Israeli authorities under the walls of Jerusalem, calling the International Community and the UNESCO to rescue Al Aqsa Mosque.
The Council demanded heritage bodies in the Arab and Islamic countries, the Arab League Educational, Cultural and Scientific Organisation (ALECSO), the Islamic Educational, Scientific and Cultural Organisation (ISESCO) and the Organisation of the Islamic Conference (OIC) to take all necessary measures and urgent action to protect the holy Islamic sites.
The Council called on international actors to implement UN Security Council Resolution 1860 to lift the siege on the Palestinian people in Gaza Strip and open crossings. It also called for the parties concerned to apply recommendations of "Goldstone" report regarding Israeli violations of international and humanitarian laws, human rights abuses and war crimes against Palestinians in Gaza Strip.
The Ministerial Council welcomed the return of calmness on borders between Saudi Arabia and Yemen, reaffirmed its support for the unity, security and stability of Yemen.
The Council also welcomed the statement issued at the end of the second session of the Saudi-Qatari Joint Coordinating Council, which was held in Doha on February 23 under the chairmanship of Sheikh Tamim bin Hamad Al Thani, Qatar Crown Prince, Prince Naif bin Abdulaziz, Second Deputy Premier and Minister of Interior of the Kingdom of Saudi Arabia.
The Council expressed its satisfaction over the contents of the statement issued by the nineteenth session of the Saudi-Yemeni Coordination Council, which was held in Riyadh on February 27.
On fight against terrorism, the Council affirmed that GCC member States renounce violence and extremism associated with terrorism, noting the efforts of GCC countries to execute measures to activate relevant decisions in this area.
On military cooperation, the Ministerial Council considered the results of the meetings that were held to discuss the military aspects of Bahrain's vision for the development of the GCC countries.
On piracy, the council reiterated its concern at the continuing rampant piracy in international waterways in the Gulf of Aden, Red Sea and others, stressing on intensifying regional and international coordination to deal with these criminal acts.
The Ministerial Council considered the steps taken by Member States and the Secretariat to follow up decisions of the Supreme Council in the field of environmental protection.
In the cultural field, the Ministerial Council considered the Memorandum of Understanding between the Secretariat of the Cooperation Council for the Arab Gulf States and the Arab World Institute in Paris to develop closer cooperation with cultural institutions abroad and support cultural strategy.
In the area of media cooperation, the council considered the report of the first meeting of the AGCC Permanent Committee for Coordinating Cooperation in Satellite Field, held in February 2010.
Regarding Iranian nuclear program, the council reaffirmed its firm position on the importance of adhering to the principles of international legitimacy and resolve disputes by peaceful means.
The council stressed on the right of countries of the region to use nuclear energy for peaceful purposes under the relevant international convention, in accordance with standards and procedures of the International Atomic Energy Agency and under its supervision, and the application of these standards to all countries in the region, without exception, including Israel.
About Iraq, the council stressed on its firm position towards Iraq and of respect for its unity, sovereignty, independence, territorial integrity, non-interference in its internal affairs and the preservation of its Arab and Islamic identity.
Regarding Lebanon, the Council renewed its full support to complete the terms of the Doha agreement between Lebanese forces, which produced successful parliamentary elections and the formation of the Lebanese government headed by Prime Minister Saad Al Hariri. The Council also expressed its condemnation and rejection of Israeli's threats that indicate aggressive intentions to undermine stability in Lebanon.
On Sudan, the Council of Ministers welcomed the signing of the Framework Agreement to resolve conflict in Darfur between the Sudanese government and the Justice and Equality Movement in Doha on February 23, 2010 under the auspices of His Highness Sheikh Hamad bin Khalifa Al Thani, Emir of Qatar.
The Council expressed its solidarity with Sudan and not to accept the actions taken by the ICC on the conflict in Darfur and the total rejection of the ICC's decision to add a charge of genocide to the list of charges against Sudanese President Omar Al Bashir.
On the Somali issue, the Council expressed its regret at the continued deterioration of the situation in Somalia. It renewed its call for all Somali parties to stop the violence and the abandonment of all processes that impede national reconciliation efforts. - Emirates News Agency, WAM
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UAE-Oman Joint Supreme Committee concludes meetings
posted on 11/03/2010
 Muscat - The 17th round of meetings of the UAE-Oman joint Supreme Committee concluded here yesterday.
HH Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs headed the UAE side in the meetings while the Omani side was headed by Sayyid Ali bin Hamoud Al Busaidi, minister of the Diwan of Royal Court, Oman.
Sheikh Mansour expressed satisfaction over the outcome of the meetings which were supported by UAE President HH Sheikh Khalifa bin Zayed Al Nahyan and HM Sultan Qaboos of Oman in their pursuit to bolster the brotherly relations between the two countries and enhance standing cooperation in various fields. He also asserted that these relations have witnessed positive developments and steady growth in all areas to become a model at all levels.
He expressed confidence that the results of the meetings will serve the interests of both countries for the progress and prosperity of the peoples and will contribute to enhancement of the joint work of the GCC states.
Sheikh Mansour said that the achievements of Joint Committee since its inception are attributed to the support of the supreme political leadership in both countries and their keenness to provide patronage to anything that could improve the cooperation between the two countries.
He commended the positive role played by HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in the Western Region during the period of his presidency of the Committee, stressing that what was achieved during that period helped push the bilateral relations and develop cooperation in many areas.
He also hailed the role played by the various ministries and departments in the two countries for the implementation and effectiveness of joint action, stressing the need to intensify the exchange of visits between officials in both countries to strengthen the strong bilateral relationship between the UAE and the Sultanate of Oman and deepen ties, bringing together the governments and peoples of the two countries.
His Highness expressed sincere thanks and gratitude for the good reception and hospitality extended to him and the accompanying delegation in Oman. - Emirates News Agency, WAM
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Gargash denies giving any statements in Paris to any Israeli media
posted on 11/03/2010
UAE Minister of State for Foreign Affairs Dr Anwar Mohammed Gargash has denied that he had given any statements whatsoever to any Israeli media or newspapers while he was in Paris. Gargash said, "These reports carried by Israeli media are fabricated and totally baseless." Gargash has further denied the said statements these reports claim to have been attributed to him. - Emirates News Agency, WAM
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Tunisia's First Lady hails Sheikh Fatima's efforts in promoting role of women
posted on 11/03/2010
Tunis - Tunisia's First Lady and the current President of the Arab Women Organisation (AWO) Leila Ben Ali hailed the efforts of HH Sheikha Fatima Bint Mubarak in support of women's role and enhancement of their community status in various fields.
The wife of Tunisian President said in a speech carried by major news agencies around the world and Agence Tunis Afrique Presse yesterday that the achievements of women today in the UAE can be attributed to the support and patronage of HH Sheikha Fatima Bint Mubarak, noting that Her Highness established specific goals and a clear guideline for the work of the AWO.
Mrs. Leila Ben Ali, had taken over the presidency of the organisation, which will continue until 2011, from Her Highness Sheikha Fatima Bint Mubarak, who chaired the AWO from 2007 to 2009.
In her speech at the opening of the Arab conference on: "Fighting Violence Against Women, a Consecration of Universal Values, " held on the celebration of International Women's Day, Mrs. Leila Ben Ali strongly spelt out her rejection of violence against women, describing it as a phenomenon without gender, ethnicity or religion and considered it a social disease that must be combated with the means of culture, education and the media.
Mrs. Ben Ali called on Arab women "not to hesitate to break the wall of silence concerning any harm to which they might be exposed" and expressed her belief that silence and occultation of sufferings can only perpetuate the phenomenon of violence against women in the Arab region.
The Arab and international media also highlighted the call of the AWO Chairwoman upon the international community to "take a firm and urgent position " to put an end to the tragedy Palestinian women are living through for they are now in the forefront of women exposed to violence, persecution and discrimination. - Emirates News Agency, WAM
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UAE grants US$10m to Comoros
posted on 11/03/2010
The UAE has announced a US$ 10 million grant funding to the Comoro Islands as a contribution to the development and reconstruction efforts in the Arab country. The grant is upon directives from President His Highness Sheikh Khalifa bin Zayed Al Nahyan. The announcement came during the "Conference in Support of Development and Investment in Comoros" held in the Qatari capital between March 9th and 10th. The UAE was represented to the meeting by Minister of State Dr Maitha Al-Shamsi, senior officials from the Foreign Ministry, representatives of the Abu Dhabi Fund for Development (ADFD) and UAE ambassador to Doha Abdul Redha Abdulla Khouri. - Emirates News Agency, WAM
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Fitch affirms NBAD's strong credit rating
posted on 11/03/2010
 Fitch Ratings has affirmed the National Bank of Abu Dhabi's (NBAD) strong rating, basing its decision on robust management and the Bank's performance during the global financial crisis. Fitch affirmed NBAD's Long-term Issuer Default Rating (IDR) at 'AA-' with a Stable Outlook. The credit rating agency has also affirmed NBAD's Short-term IDR at 'F1+', Support Rating at '1' and Support Rating Floor at 'AA-'. The Individual Rating is affirmed at 'B/C', by Fitch.
Explaining its decision regarding NBAD, the Number One Bank in the UAE, Fitch said: "The Individual Rating reflects the Bank's strong domestic franchise, consistent profitability, relatively conservative risk profile and low funding costs, and its close links to the Abu Dhabi government which benefits its lending and funding profile. It also reflects concentrations in loans and deposits and risks inherent in the UAE operating environment."
Fitch recognised that NBAD absorbed the impact of rising impairment charges with strong core earnings in 2009, thus keeping net profits in 2009 flat despite difficult market conditions. Fitch said its affirmation of its strong rating are also based on NBAD's management keeping costs well controlled and funding cost low. It also credits NBAD with a conservative risk profile that has "translated into a lower increase in impairment charges than the bank's peers."
Fitch also confirmed that the Bank's liquidity is adequate, capitalisation strengthened in 2009 and that "the 2009 non-performing loan ratio was 1.3% and reserve coverage strengthened to a satisfactory 158%." "We are pleased that Fitch has affirmed our strong ratings," said Mr. Michael Tomalin, NBAD's Group Chief Executive. "The affirmation of our strong ratings is a confirmation of NBAD's prudent management during difficult market conditions".
NBAD is rated senior long term/short term A+/A-1 by Standard and Poor's, Aa3/P1 by Moodys and AA-/F1+ by Fitch giving it one of the strongest combined rating of any Middle Eastern financial institution. - Emirates News Agency, WAM
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Abu Dhabi banks have good capital, manageable liquidity
posted on 11/03/2010
 Abu Dhabi banks had significant capital levels and manageable liquidity, but their long-term profitability was still tied to the country's development plans, analysts at HSBC said.
They recommended National Bank of Abu Dhabi was the best way to play Abu Dhabi banks.
HSBC said it favoured banks from Saudi Arabia and Egypt in the Middle East and North Africa, as both countries had strongly capitalised banking sectors and good visibility on credit quality.
HSBC said Saudi's Riyad Bank and Samba Financial Group were the most compelling investment cases in its coverage universe, and forecast corporate loan growth of eight per cent in 2010 for Saudi banks.
The brokerage said it expected credit growth in Egyptian banks to recover starting from mid-2010, driven by foreign currency lending, and raised Nationale Societe Generale Bank to "overweight" from "neutral", terming it its pick of Egyptian banks.
Analysts at HSBC said they had a positive view for Omani banks this year, and that the banks were expecting a boost from corporate loans, mainly from project financing for power projects, roads and civil infrastructure.
The brokerage said the Kuwaiti banking environment was still weak and uncertain, and expected banks to continue providing heavily for loan losses through 2010, with the exception of National Bank of Kuwait (NBK).
HSBC said NBK had the strongest asset quality among Kuwaiti banks. – Emirates Business 24|7
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Heads of American chambers of commerce visit Jafza, DP World
posted on 11/03/2010
 A top level US business delegation comprising senior members of the Association of American Chambers of Commerce (ACCE), this week visited Jebel Ali Free Zone (Jafza), the Economic Zones World flagship operation, and Jebel Ali Port, the home base of global container terminal operator DP World.
The US-Dubai 2010: Executive Business Leaders Mission to Dubai is an initiative organised by Dubai Chamber of Commerce '&' Industry with the objective of boosting trade ties between Dubai and the US and to reaffirm Dubai's position as a popular investment destination for American businesses and a gateway to the Middle East, Africa and Asia. The Mission comprises over 40 top officials of major American chambers from the American Chamber of Commerce Executives (ACCE) and representing thousands of American companies.
The US has been one of the top trading partners of Dubai over the years. The US is Dubai's third largest trading partner as Dubai Chamber members' exports to the country in 2009 valued at Dh377 million while the UAE exports to US valued at US$1.3 billion registering a jump of 24% in the first nine months of 2009.
Top management and senior officials of Dubai World, Economic Zones World and DP World welcomed the delegation. The visiting dignitaries were briefed on the world class facilities and services the region's biggest free zone and world's sixth largest port offer to its customers.
Over 230 American companies are based in Jafza, including the Fortune 500 group Halliburton. GE, DOW, 3M, ExxonMobil, Johnson '&' Johnson, Colgate-Palmolive, Xerox, Tyco, Pepsi, Kraft, Del Monte Food, Ford and Goodrich among others.
The delegation later toured the Ibn Battuta Mall, Dubai's unique shopping and leisure destination, and the iconic island projects by Nakheel as well as Atlantis, the palm, which are part of the Dubai World group. - Emirates News Agency, WAM
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