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President Khalifa pardons 700 inmates, settles their debts
posted on 28/08/2008
 President H.H Sheikh Khalifa bin Zayed Al Nahyan yesterday granted an executive pardon to 700 Emarati and expatriate prisoners to mark the advent of Holy Month of Ramadan. Sheikh Khalifa also instructed the settlement of the pardoned prisoners' debts. The pardon comes as part of Sheikh Khalifa's keenness on giving those a new chance to start a new life and alleviate the suffering of their families. Such clemencies are granted by Sheikh Khalifa on national and religious occasions to further promote tolerance in the UAE community. Emirates News Agency, WAM
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UAE President keen on providing good living for all community members: Saif bin Zayed
posted on 28/08/2008
 Interior Minister Lt. General HH Sheikh Saif bin Zayed Al Nahyan, commended the pardon issued by President HH Sheikh Khalifa bin Zayed Al Nahyan, to release 700 prisoners, on advent of the Holy month of Ramadan. "The pardon stems from humanitarian gesture of Sheikh Khalifa to allow prisoners open new page in life and join families in the blessed month of Ramadan. This is not new from Khalifa who is also known for his constant care about all members of community", he added. He wished for the released prisoners to rise above the occasion and begin new life, which ensures good and stable living for their families. Emirates News Agency, WAM
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Mohammed bin Rashid inspects a number of projects in Dubai
posted on 28/08/2008
 Vice President, Prime Minister of UAE and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum, visited yesterday Dubai Municipality (DM), where he inspected designs of infrastructure projects being executed by DM.
Sheikh Mohammed was received by engineer Hussein Lootah, acting DM director general, directors and heads of departments and sections. He was briefed about quality of services being rendered to public. Sheikh Mohammed was also briefed about the project of green buildings, which he earlier ordered to be conducted as per world standards to preserve environment and protect it from global warming.
He was briefed about execution process of the Olympic swimming pool project, which is expected to complete by 2010 in which it will host the World Swimming Championship. The swimming pool will have a capacity of 15, 000 spectators. It is set to be sports and artistic landmark in Dubai.
Sheikh Mohammed was briefed about Dh1.5 billion sewage treatment project in Jebel Ali, with daily capacity of 300, 000 cubic metres. The first phase of the project will be completed by mid 2009.
He also discussed with Lootah and other municipal officials ideas and plans for development of over 17 natural protectorates, 36 parks at different districts, 70 public squares and other greenery projects, waste recycle projects, Mushrif Park, woman clubs and entertainment in vicinity of Mushrif Park, as well as other developmental projects. At the end of the tour, Sheikh Mohammed expressed his satisfaction of work process at the developmental and tourist projects being conducted by DM. He hailed the efforts of youth and supervisors, who are conducting these projects.
He urged senior officials to pay routine field visits to follow progress of projects in order to avoid errors or any shortcomings. Sheikh Mohammed instructed officials to launch environmental awareness campaign, particularly at schools in Dubai to create sound environmental culture and introduce the green building system. Emirates News Agency, WAM
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ADNOC-FOD in new drive to solve congestion at filling stations
posted on 28/08/2008
 The Abu Dhabi National Oil Company for Distribution (Adnoc-Fod) asserted yesterday that it has started to implement a set of new standards in an effort to ease up congestion at its diesel filling stations.
In a statement, the Company said that it is working with all seriousness to contain all the problems related to diesel and make it available to the customers. The additional demand for diesel in the country brought about by the economic boom has resulted in congestion at the filling stations spread across the country, and the company has evolved innovative methods to solve this problem, the statement said.
Installation of more diesel pumps at filling stations and regulation of sales through 'Rahal e-diesel card' are a few among the new solutions. The company introduced the e-diesel card earlier this month stopping cash transactions for diesel sales at filling stations, and allocating specific amounts of diesel to suit the load capacity of vehicles. Emirates News Agency, WAM
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Dubai diesel prices will fall further
posted on 28/08/2008
 Dubai oil retailers - Emirates National Oil Company (Enoc), Emirates Petroleum Products Company (Eppco) and Emarat - will further slash diesel prices at the pumps by 50 fils a gallon effective September 1, marking their sixth straight cut in prices in a little more than a month, oil company sources told Gulf News yesterday. "The price of diesel will be cut to Dh16.25 per gallon from Dh16.75 per gallon from Monday," a spokes-man for Enoc and Eppco confirmed the news on behalf of the two companies.
A spokesman for Emarat was unavailable for comment. The three Dubai oil retailers buy diesel at international prices and then adjust the local prices, based on the landed cost of the oil product.
The price cuts have been announced by the oil retailers following a downward trend in international crude and oil product prices since mid-July. When the price cut becomes effective, the price of diesel in Dubai will have come down 18.46 per cent or Dh3 since July 28, when it was selling at a record high of Dh19.25 a gallon. The diesel price gap in Dubai and Abu Dhabi will also further shrink to 88.95 per cent.
International crude oil prices have fallen sharply from a lifetime high of $147.27 a barrel on July 11, as an economic downturn in the US, the world's biggest oil importer, has slowed consumer demand. There are also fears that the world's second biggest economy, Japan, may be slipping into recession. As well, the dollar, a currency in which oil trading is mostly done, has been strengthening against the euro, which has contributed to the bearish sentiments that currently prevail on the world oil markets.
On the New York Mercantile Exchange yesterday, crude oil futures for September delivery in the US were hovering well below $118 per barrel in early trade.
Petrol: Retailers suffer losses
While there's tremendous euphoria in Dubai surrounding the recent diesel price cuts, state-set gasoline prices continue to hurt the emirate's oil retailers in a big way. "We are incurring a daily loss of Dh7 million on petrol sales," said a spokesman for Enoc and Eppco. "For every gallon that we sell of petrol, we lose more than Dh7," he said. Petrol grades sell for Dh6.25 and Dh6.75 per gallon in Dubai now. The fuel's prices have remained unchanged since September 1, 2005. Gulf News
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UAE is the second largest investor in Sudan - Study
posted on 28/08/2008
The economic relations between Sudan and UAE witnessed accelerated development during the last five years, UAE becoming the second largest investor in Sudan after China with a total investment of about USD7 billion. The bilateral trade between the two countries also grew annually by more than 30 pc, a study by Dubai Chamber of Commerce and Industry (DCCI) showed.
Sudan's economy is booming on the back of the increase in oil production, high oil prices, and large inflows of foreign direct investment. Real GDP growth registered more than 10pc per since 2006. The country continues to take steps toward liberalization, the study carried by the third Economic Bulletin of DCCI said.
According to the country ranking list published by the International Monitory Fund (IMF), UAE ranks in the 37th place with nominal GDP of about $192 billion, while Sudan is ranked in the 65th place. In 2007, Sudan real GDP grew by 12.8pc indicating the large expansion of the economy.
Although the UAE economy is larger than that of Sudan in terms of GDP, but the GDP growth rate of Sudan is faster than that of UAE (12.8pc and 8.5pc respectively). On the other hand, the UAE per capita GDP of $49.9 thousand exceeds that of Sudan which was estimated at $2.5 thousand. The industrial and the services sectors are the major drivers of the economy of the two countries. Both sectors occupy the lead share of their respective GDPs. However, agriculture has an equivalent share in the economy of Sudan (31.5pc). Contrary to that, the agricultural sector accounted for only 2 pc in the UAE GDP, according to the study.
In 2006, Dubai trade with Sudan, not including the free zones, accounted for more than 90pc of the UAE total trade with Sudan. Therefore, Dubai trade with Sudan in the year 2007 inclusive of free zones is used to represent the recent UAE trade with Sudan.
Trade between Dubai and Sudan flourished during the recent years. In 2007, Dubai non-oil foreign trade with Sudan totalled Dh3.1 billion, out of which, 78pc were re/exports and 22pc were imports. During the period 2002-2007, Dubai imports from Sudan increased by cumulative annual growth rate (CAGR) of 50pc, while on the other hand, Dubai re/exports to Sudan increased by CAGR of 29pc (figure 1). In 2007, Dubai imports from Sudan increased by 66pc.
In 2007, Dubai imports of pearls, precious or semi-precious stones, precious metals from Sudan accounted for more than 88pc of the total imports followed by the mineral fuels, mineral oils, bituminous substances, mineral water, which accounted for 9pc. The less imported products are oil seeds, oleaginous fruit, industrial or medicinal plants (0.8pc) and aluminium and articles thereof (0.4pc).
Dubai re-exports to Sudan are dominated by the nuclear reactors, boilers, machinery , parts thereof that accounted for 21pc of the total exports/re-exports followed by electrical machinery and equipment and parts thereof (15pc), vehicles other than railway or tramway rolling-stock (12pc) and plastics and articles thereof (4pc).
The diversification of Sudan economy has opened the door for variety of investment opportunities in different fields such as agriculture, manufacturing and services.
Agricultural sector is one of the Sudan's strongest sectors. As the availability of cultivated land and natural irrigation systems provide an extra opportunity for investments in the agricultural sector. This is an opportunity that the UAE can look at, in terms of direct investment on food products, food processing and manufacturing and direct trade. This will assist UAE to ensure the availability of food stocks and achieve their strategy of food security, said the study. Emirates News Agency, WAM
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Japan seeks UAEs sovereign investments
posted on 28/08/2008
 Tokyo is looking to attract Sovereign Wealth Funds (SWFs) in the UAE to make long-term investments in Japan, particularly in sectors offering high returns, as both countries stress the importance of human and economic development. The investments shall be in the form of joint ventures on financial services, photovoltaic or solar power, water desalination, energy-saving IT products, biotechnology and real estate, according to Japan's Hiroyuki Ishige, Vice-Minister for International Affairs, Ministry of Economy, Trade and Industry (METI).
"We are open to investments involving patient, long-term capital, he said in an interview. "That's what we need from SWFs.
The main source of the UAE's SWFs, such as the Dh3.21 trillion ($875 billion) Abu Dhabi Investment Authority, is from a financial surplus from oil exports.
Sheikh Nahyan bin Mubarak Al Nahyan, the UAE Minister of Higher Education and Scientific Research, stressed before a two-day forum that opened on Wednesday the need for improved bilateral ties, saying that global economic order is dependent on the co-operation of countries and regions worldwide.
"These values of global development and co-operation are at the core of the vision for the present and future of the UAE, he told The 33rd Japan Cooperation Forum for the Middle East, organised by the Japan Cooperation Centre for the Middle East (JCCME) and supported by METI.
"This forum highlights regional and international dialogue and co-operation. Ishige said, meanwhile, that Tokyo is keen to draw up a Free Trade Agreement (FTA) with the Gulf Co-operation Council bloc, stressing this would further enhance trade and investments between Japan and the six-member Gulf Arab bloc.
"Our objective is to pursue a multilateral trade agreement rather than a unilateral pact, he stressed, although things have not been smooth sailing for the negotiations after both parties conducted only two high-level meetings for the past three years. But he said the problem is only on the scheduling of meetings.
Japan's exports to the UAE reached a record high of Dh29.38 billion ($8 billion) in 2007, a 33.1- per cent growth from the previous year, according to data released earlier by the Japan External Trade Organisation.
The chairman of JCCME, Jiro Nemoto, said Japan is well prepared to help modernise the UAE and the whole Middle East, particularly in trade and education, stressing that his country has a 140-year history of modernisation.
He pointed out that any economic development must be complemented by human development through education, industrial training, information network and medical care. "Thinking only of earning money is not good, he said. "We must also think of morality and good work ethics. Khaleej Times
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Emaar Misr launches Armani residences in Marassi community
posted on 28/08/2008
 Emaar Properties and Giorgio Armani yesterday announced the launch of Armani Residences in Marassi in Egypt. The Armani Residences, Marassi will be set on the Sidi Abdel Rahman Bay. The resort-style residences will feature a combination of stacked villas and three and four-bedroom villas, all facing the Mediterranean Sea, and will be an integral part of Marassi, the Dh6.39 billion master-planned community developed by Emaar Misr, the wholly-owned country subsidiary of Emaar.
Spread across 1,544 acres of land, Marassi is an all-year round destination and enjoys the unique location advantage of being in the best stretch of beach on the North Coast. The 6.25 million square metre gated community has premier leisure amenities including a world-class beach resort, a vibrant town centre, marina, golf course and hotels set amidst lush greenery and lagoons.
Mohamed Ali Alabbar, Chairman, Emaar Properties, said: "Armani Residences, Marassi, blends the advantages of a spectacular location with the world's most elegant and refined home designs. Sidi Abdel Rahman Bay is a historic Mediterranean beach destination where Emaar Misr, through Marassi, is bringing in a new lifestyle. Armani Residences will be a superior value addition to Marassi, as these elegant homes have the personal touch of Giorgio Armani."
Giorgio Armani said: "While designing the Armani Residences, Marassi I integrated several elements that capture the serenity and calm of beachfront living. I was also keen to present residents with personalised living spaces that conveyed the comfort, simplicity and understated elegance cornerstones of the Armani Residences offering."
In designing the Armani Residences, Marassi, Giorgio Armani responds to the equitable climate and location advantage by creating classical spaces qualified by space, light and structural order. Cutting away from confusing stylistic notions, the architecture of the homes are based on the functionality and aesthetics of volume, light and surface. As a lifestyle experience, this translates to living in close harmony with nature by maximising the benefits of the beachfront ambience.
The villa sizes range from 250 to 500 square metres with each unit featuring a private pool. Common area amenities include retail outlets, boardwalk lounge, health club, reflective pool, resort club, screening room, swimming pools and pool deck. There will be designated reception and drop-off points for the convenience of residents and guests.
The furnishing and bespoke finishes of all homes are master-designed by Mr Armani himself. An exclusive range of Armani/Casa home furnishings a variant of which is used at Armani Residences, Burj Dubai will give elegant sophistication to the residences. These exclusive residences will also feature automated systems for security, temperature and drapery control, lighting and air-conditioning.
Following roadshows in several international markets, the world's first Armani Residences located in the iconic Burj Dubai, the world's tallest building, were launched end 2007 to overwhelming international investor response. The Armani Residences redefines modern living by creating warm, welcoming, harmonious and luxury spaces combined with elegant designs and furnishings.
The Marassi homes will also be promoted internationally, thus adding more appeal to Egypt as a resort investment destination. Emaar is also developing the Armani Hotel Dubai one of the first to be opened as part of the collaboration between Emaar and Giorgio Armani also to be situated in Burj Dubai. Several Armani Hotels and Armani Residences are being planned in the world's most prominent international cities. Emirates Business 24|7
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DWTC records 40pc rise in visitors for first half of 2008
posted on 28/08/2008
 More than 500,000 visitors attended a record number of events at the Dubai International Convention and Exhibition Centre (DICEC) in the first six months of 2008 - an increase of 40 per cent over the same period last year.
With the number of exhibitions and meetings at the venue surging significantly, the figures demonstrate the strong progress that the Dubai World Trade Centre (DWTC) is making towards positioning Dubai as the world's leading destination for exhibitions, conferences and events, according to senior executives.
DWTC recorded 551,056 visitors to DICEC between January and June 2008, compared to 393,665 in the first six months of 2007.
Entering into the busy autumn period -which includes blockbuster shows such as Cityscape Exhibition & Conference, GITEX TECHNOLOGY WEEK, Index, and Big 5 - DWTC executives are confident that they are on track to beat the records set in 2007, officially the Group's 'busiest year ever.'
Helal Saeed Almarri, Director General, DWTC, said: 'Dubai continues to expand its reach and influence as a premier global destination for meetings, exhibitions and events. The ongoing strong growth of DWTC-hosted events - which target some of the most strategically-important industry sectors such as aviation, banking and finance, and biotech - demonstrates both the current expansion of the region's economy as well as the excellent platform offered by DWTC venues and services.'
Among the significant exhibitions that debuted this season included Aircraft Interiors Middle East, an event that targets the high-growth aviation sector in the region, with organisers expecting the next edition to more than double in size. Another big success was the inaugural event for banking and finance, MEFX, organised in partnership with Dubai International Financial Centre, which attracted attendees from over 40 countries.
The China Sourcing Fair, the premier commercial event for traders and volume buyers from the MENA region and suppliers and manufacturers from Greater China, reported record responses. Organisers Global Sources reported a 60 percent growth compared to the last edition, aligned with His Highness Sheikh Mohammed's efforts to strengthen bilateral trade between the two regions.
DICEC hosted 20,316 exhibitors during the first six months of 2008, an increase of 14 per cent over last year, while the total number of delegates for meetings and conferences also recorded a substantial increase.
DWTC's Hospitality Division reported impressive half-yearly figures, serving over 172,000 covers in their outlets, an increase of over 50,000 covers from the same period last year, while off-site catering orders have almost doubled over the same period of time.
As part of its long-term vision for success, DWTC is enabling ongoing growth in the exhibitions sector with its flagship 7 Sq. Km. development aimed at creating a dynamic and integrated commercial destination, anchored by one of the world's largest, state-of-the art exhibition centres (Dubai Exhibition Centre) dedicated to major trade fairs.
Construction is also well underway on the first phase of the Dubai Trade Centre District project - the high-end commercial development that will create a new central business quarter at the heart of Dubai.
Both projects are designed to provide unique lifestyle environments that promote global business tourism with networking opportunities and world-class infrastructure, enabling Dubai to host the most prestigious conferences, exhibitions and events. Khaleej Times
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UAE's Permanent Mission at UN Office in Geneva to oversee 'Iftar' programme
posted on 28/08/2008
Geneva - In line with the directives of President HH Sheikh Khalifa bin Zayed Al Nahyan, UAE's Permanent mission at UN Headquarters in Geneva has completed the preparations for the 'Iftar' programme for the Muslim community residing in Switzerland. It is the second time in a row, the UAE mission is implementing the 'Iftar' programme financed by Khalifa bin Zayed Charity Foundation. UAE's Permanent Representative at UN Obeid Salem Al Za'abi said that this gesture of benevolence is a perpetuation of the religious concerns of the Late Sheikh Zayed bin Sultan Al Nahyan. The country's UN mission, in cooperation with several Islamic institutions in Switzerland, implemented the programme last year by way of distributing 'Iftar' on Muslim households on a daily basis. Emirates News Agency, WAM
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O Anuário completo dos EAU de 2008 em inglês e francês em formato pdf. Informação abrangente e actualizada sobre todos os aspectos dos EAU.
