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ABU DHABI CONSIDERING PRIVATISATION OF HOTELS, OTHER SECTORS
The Emirate of Abu Dhabi is considering the privatisation of a number of sectors, including hotels, according to Director of the Presidential Court HE Sheikh Dhiyab bin Zayed al Nahyan. In an interview with the fortnightly publication 'Afaq al Mustaqbal', ('Future Horizons'), issued by the Emirates Centre for Strategic Studies and Research, ECSSR, Sheikh Dhiyab said the recent step to privatise the electricity and water sector in Abu Dhabi was not prompted by any economic crisis, affirming that is was, rather, a strategic choice which aimed at "redefining the state's role and expanding developmental responsibilities.
The decision to privatise this vital sector was inspired by a drop in the productivity of public projects and an attempt to absorb the surplus liquidity, besides boosting Abu Dhabi's revenues," he said. Sheikh Dhiyab went on to explain the objectives of the water and power privatisation, saying that the new companies will cover three activities, namely the supply, production and transport of power.
"According to Law No. 2 for 1998, four autonomous bodies for power production will be established, as well as a company for power transport and two companies for distribution." Sheikh Dhiyab revealed that the Water and Electricity Authority, WEA, had signed contracts with international consultancy firms to guarantee the success of the privatisation process. He went on to say that the Abu Dhabi General Industrial Corporation, GIC, would soon be going ahead with privatising a number of projects suffering from low productivity and administrative redundancy.
"I believe that the hotels sector will be among the activities to be relinquished to the private sector. Asked if there were any plans to set up joint ventures with fellow Arab Gulf Co-operation Council, AGCC, countries (Saudi Arabia, Kuwait, Bahrain, Qatar and Oman), Sheikh Dhiyab said co-operation in different economic fields would be feasible. (The Emirates News Agency, WAM)
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ABU DHABI CUSTOMS SEIZE DEADLY GOODS, NEW SYSTEMS SOON
A letter bomb, a listening device, poisonous material and some Kenya-bound armaments were among a number of illegal items seized recently by Abu Dhabi Customs officers in the emirate of Abu Dhabi. The Abu Dhabi Customs Department's latest quarterly bulletin reveals that customs officials have foiled an attempt to smuggle armaments coming from Sharjah Airport.
The arms were hidden inside goods that were transiting at Abu Dhabi Airport on their way to Kenya. A gas pistol, two packets of bullets and five gas cylinders were also seized at Abu Dhabi Airport from a Gulf Air passenger coming from Cairo, while a listening and an electrical shock device was found with a passenger coming from the U.S.
The report shows that customs officers at Mina Zayed seized two batches of narcotics, indecent pictures and "illegal books" as well as 12 bottles of alcohol. These, along with a stash of explosives, bottles of whiskey and 1,026 grams of the 'Qat' narcotic drug were picked up by the authorities at the Abu Dhabi Post Customs Office. Customs officers at the busy Al Ghuwhaifat border post were successful in aborting an attempt to smuggle 32 cartons containing 141 communication devices.
The devices were hidden inside a truck coming from Saudi Arabia. A bottle of poisonous material and another containing performance enhancing drugs for animals was also found inside a car coming from the same country. Among the bizarre items seized was a bottle of horse food coming through Al Ain Airport Customs Centre. These efforts, the authorities said, were part of the Abu Dhabi Customs Department's intensive efforts to foil attempts to smuggle contraband items to or through the emirate.
Meanwhile, the Abu Dhabi Customs Department will introduce a new system to detect contraband items at the Ghuwaifat border post, that will reduce the inspection time from six to eight hours to about six to eight minutes. Its latest quarterly bulletin said the department had recently signed an agreement with the American Science & Engineering Inc., AS&E, to provide 'CargoSearch', the most advanced X-ray detection system in the world.
The new system will be used to look for contraband coming into the UAE. When vehicles are selected for inspection, CargoSearch enables customs inspectors to designate and scan the entire truck, or a specific area of the truck, without off-loading the cargo. Ali M. al Jabri, Director of the department's Customs Affairs, told the 'Gulf News': "The UAE is a transit point for drug smugglers and we're constantly training our employees and developing our facilities to meet this challenge," he said.
He said the member countries of the Riyadh-based Regional Office for the Exchange of Information, RILO, namely the Arab Gulf Co-operation Council, AGCC, countries, Jordan, Lebanon, Syria and Yemen, were working on a data base to exchange information on smugglers and attempts to smuggle illegal items. RILO is the regional contact point with the International Customs Council in Brussels. "Some countries already have this data base and the UAE is expected to be connected with it by the end of this year," al Jabri said. (The Gulf News)
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ANCIENT FALAJ DISCOVERED IN AL AIN
An archaeological site, dating back to the Iron Age (1000B.C.), had been discovered and excavated by the Department of Antiquities and Tourism, Al Ain, some 15.0km from the city, officials said yesterday. Falaj bint Saud, a system of transporting water from aquifers to gardens through water tunnels and channels, was the second to be built by the people in the Emirates some three millennia ago, according to Dr Walid Yassin, an archeologist at the Al Ain Museum.
The discovery was made by a team of archaeologists from the Department of Antiquities and Tourism while excavating a settlement at Bida bint Saud in June, Dr Yassin, who led the group, said. The falaj discovered consists of 13 shaft holes for maintenance and two parallel channels linked to a Shari'a, a water source below the ground level. The first falaj built in the Emirates was discovered and excavated in 1985, Dr Yassin said. He said that the water level in the excavation area was only 4.0 metres below the ground level.
According to him, excavation works at the site had stopped now. A plan will be drawn up for more excavations in the western field archaeological sites. Dr Yassin said that at the very beginning of the 1st millennium BC, or even slightly earlier, the Iron Age had started in the UAE. This period's culture was different from other ages' cultures. Big settlement sites having different layouts were common during the period.
The findings from that period, currently exhibited at the museum, came from the archaeological sites of Garn bin Saud, Hili 2, Rumailah, and Qusais. Features of Iron Age are manifested at a number of extensively excavated sites with substantial mud-brick architecture such as Bint Saud settlement which was being excavated at the time of the discovery of the falaj. Many other sites, with both graves and settlements, have been located in the same area.
The explosion in settlement during the Iron Age is generally attributed to the invention of falaj irrigation technology. Dr Yassin said the discovery would boost the city's chances to win a notable title in 'Nations In Bloom '98', an international competition for cities involving demonstration of creative techniques used in preserving architectural features, to be held in Al Ain in October this year. (The 'Khaleej Times')
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RAS AL KHAIMAH'S JULPHAR GETS APPROVAL TO HIKE CAPITAL
The general assembly of the UAE's only pharmaceutical company, Julphar, approved a 50.0% raise in capital from Dh 200.0 million to Dh 300.0 million on Saturday. The capital hike will enable Julphar to expand its pharmaceutical production base and launch new products in several markets within the coming few weeks, said Sheikh Saud bin Saqr al Qassimi, Julphar Board Chairman, during the general assembly's extraordinary meeting.
Earlier, medical industry sources told the 'Gulf News' that Julphar's capital raise was aimed at widening equity spread and warding off potential takeover bids. Last month, prices of Julphar shares grew three to four times within a limited period after the company reported very good financial results in the first half of 1998 and its entry into new markets in Africa and Europe.
Sources also said there was lot of liquidity in the market which prompted many investors to turn their attention to many Ras al Khaimah firms, including Julphar. Many targeted successful firms with small capitals. Sheikh Saud said Julphar was planning to increase its overall sales to Dh 377.0 million in 1999 and Dh 458.0 million in 2000 as well as raise the sales of its subsidiary factories to Dh 127.0 million and subsidiary companies to Dh 76.0 million.
"Julphar has already penetrated new markets and 93.0% of its production is exported. Its UAE sales are estimated at only 7.0% but it always ranks first or second among international firms in the local market," stressed Sheikh Saud. Julphar sales touched Dh 155.0 million since the beginning of the year until the middle of this month, recording a 68.0% increase over the same period last year. They are foreseen to reach Dh 270.0 million by the year end, a 58.0% rise over 1997 total sales, said Sheikh Saud.
Last year, sales jumped by 24.0% to Dh 170.0 million from Dh 137.0 million in 1996 and net profits grew by 47.0% to Dh 31.0 million from Dh 21.0 million in 1996, he added. "With the growth of sales during 1998, Julphar reported a Dh 33.0 million net profit during the first half of this year and will likely reach Dh 60.0 million by year-end. This will be a 93.0% rise over 1997. Company profits are expected to touch Dh 75.0 million in 1999 and Dh 150.0 million in 2000," said Sheikh Saud.
Julphar currently owns its headquarters in Ras al Khaimah, which comprises a 16,000 square-metre plant worth Dh 110.0 million, a Dh 76.0 million plant spread on 10,000.0 square metres for production of syringes pre-filled with antibiotics and a Dh 5.0 million plant on 2,400.0 square metres for production of general pharmaceuticals like disinfectants. Julphar marked its first global presence in 1995 by purchasing a 25,000.0 square-metre factory worth Dh 37.0 million in Ecuador from the German firms, Schering and Bayer, said Sheikh Saud.
In 1997, it acquired a Merck, Sharp & Dohme-owned medicine plant in Germany worth Dh 15.0 million and an additional Dh 2.00 million will be spent on it before the initiation of commercial production, said Sheikh Saud. Julphar produces 1409 medicines marketed in 36 countries and these have a market value that is three times higher than its sales in these markets. It has several wholly-owned subsidiaries; Majan Printing and Packaging, Julphar Drug Stores and 34 pharmacies including 10 in Oman. (The 'Gulf News')
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GHANTOOT TEAM ENTER POLO FINAL IN SPAIN
The Ghantoot Team, powered by some splendid individual performances, entered the final of the J. Walker Cup Polo Tournament being held in Sotogrande, Spain. Ghantoot, comprising Carlos Solari, Sylvester Donovan, Nasser al Shamsi and Juan Toroba, first defeated Bansacar 13-9 in the quarter-finals before raising their game to edge Flying Tigers 8-7.
The UAE team, which has been pleasantly surprised by the backing from the Spanish crowds, meet Woodchester in the final. The Ghantoot team has been gaining an international reputation over the past couple of years as the club both sponsors and takes part in several tournaments around the world. Ghassan Naaman, the managing director of the Ghantoot Racing and Polo Club, is also attending the Spanish event. (The 'Khaleej Times')
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DTC DRIVER RETURNS $ 300,000.0 LEFT IN HIS TAXI
Two Russian women were deeply impressed by the honesty of a Dubai Transport Corporation, DTC, driver who returned $ 300,000.0 to them after they forgot their luggage in the boot of his taxi. Nabil Mohammed al Naghi returned the money to the women, whom he had picked up at Dubai International Airport and dropped off at the Dubai Park Hotel. The women, using a mixture of Arabic and English, had first asked him to take them to Deira. Then they changed their minds and asked him to drive them to the Dubai Park Hotel.
Al Naghi said they had a child with them and chatted to each other in Russian on the way to the hotel. On reaching the hotel, they paid him $ 10.0, even though the meter read only Dh 21.0. They told him to keep the change and walked away. He noticed they did not go into the hotel. Al Naghi returned to the airport and waited in the queue until another passenger asked to be taken to Al Ras. When he opened the boot of the car, he saw the Russian women's luggage - a suitcase and a document case which he had put there when he picked them up.
Apologising, he told his new fare that he would not be able to take him after all and rushed back to the hotel, radioing the Corporation's operations room about the luggage. When he reached the hotel, Nabil saw a police patrol car and the two women. The women were overjoyed to see him. On checking their luggage, they found nothing missing. The $300,000.0 which it contained was intact. Al Naghi said it was the responsibility of all drivers to safeguard Dubai's reputation as a safe place. (The Gulf News)
