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BANKS 'MUST ADAPT TO FAST-CHANGING SCENE'
Banks must restructure and adapt quickly to fast-changing developments in order to tackle the challenges of the next millennium, according to Ahmed Humaid Al Tayer, Chairman of Commercial Bank of Dubai. Addressing bank staff after inaugurating a seminar titled "Towards a New Millennium", held to mark the bank's 30th anniversary, Al Tayer, who is also Minister of Communications, noted the dramatic changes that took place last year and the need for UAE businessmen to adapt to these imperatives. "Last year saw a sharp decline in the financial markets, currency fluctuations, a slump in oil prices, the creation of the euro, the increasing influence of the Internet and the dawn of globalisation consequent to the World Trade Organisation-led new order in commodity trading and services worldwide," he said. He urged UAE banks to consolidate their financial positions and hone their competitive edges. "While the principal requirements of banks - to achieve optimum returns while consolidating and becoming more competitive - remains unchanged, the additional requirements are to restructure and adapt" to the evolving global order, Al Tayer said. Commending the bank's technological progress and growing managerial expertise, he warned against complacency and emphasised development of human resources which he called the key to the bank's continued success. Al Tayer also upheld the traditional value of treating customer requirements as the bank's top priority. "We should intensify our training through proper plans and modern means to achieve quality standards that strengthen our relations with customers," he said. The bank unveiled its new mission statement for the next millennium, reiterating its intention to be recognised as a quality focused, customer driven, financially sound and socially responsible bank. The statement also emphasises its commitment to customer satisfaction; developing human resources; generating good long-term results for shareholders and strengthening mutually beneficial relations with global associates. (The 'Gulf News' )
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SCOTLAND'S UAE HOSPITAL SEEKS TELE-LINK PARTNERS
A unique clinical software system, which for the first time combines state-of-the-art technology with doctors' expertise, has been developed in association with the UAE-owned HCI International Medical Centre in Scotland. The system, codenamed AxSys 0599, which manages patient medical details in conjunction with doctors' reports, consultation notes and case histories, is to be used exclusively in a new telemedicine service to be established between the UAE and the $300 million HCI Hospital, Scotland, according to a Press release. The HCI International Medical Centre is owned by the Abu Dhabi Investment Company, according to its spokeswoman, Nadia Meomen. Dr Pradeep Ramayya, who heads HCI's telemedicine project, and the man behind the new software, is in the UAE this week to establish partner clinics to service the Dubai and Abu Dhabi ends of the HCI tele-link. The HCI plans partner clinics to be up and running by August, with patient outreach clinics in operation soon after. Run by senior consultants and physicians, the clinics will comprise video conferencing equipment with specialist facilities to take patient details including X-rays, blood pressure and heart rate. He sees AxSys 0599 as a crucial development in an effective telemedicine service, which will, ultimately, become widely accessible to the Emirates people. "Establishing a telemedicine service between HCI and the UAE brings Scottish medical expertise and patients closer. With AxSys 0599, our doctors can access a wide range of information quickly and easily in order to make a clear diagnosis or monitor a patient's condition," he said. Dr Ramayya is a recognised world expert on clinical IT systems and helped make HCI the world's first paperless hospital back in 1995. Now he is championing advances across the whole spectrum of telemedicine - from the monitoring of chronic illness through phone-based systems to remote surgery. He said establishing a UAE base for the telemedicine service offers tremendous benefits to the UAE patients, their physicians and their families. "Before the patient travels to HCI, we can make clearer assessments from which to prepare our treatments more accurately. And, after the patient returns, we can effectively monitor their progress alongside their own doctors," Dr Ramayya said. "We anticipate using the link to help patients talk to their loved ones back in the UAE," he added. "Our telemedicine service will open up whole new areas of medical expertise to Emirates people looking for specific advice or a second medical opinion", Dr Ramayya said. (The 'Khaleej Times')
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UAE RETAINS LEAD IN GOLD DEMAND
The UAE maintained its leadership in demand growth for gold in the first quarter of 1999, which rose to 26.6 tonnes, a 5 per cent increase over the 25.3 tonnes recorded in the first quarter of last year. The growth in UAE - the largest market among Gulf States - compensated for the fall in demand in Kuwait, Bahrain and Qatar by 0.2 tonnes, 0.1 tonnes and 0.7 tonnes respectively. Oman reflected the growth in the UAE and recorded an increase of 0.2 tonnes. Worldwide, gold demand rose 62 per cent over the opening quarter last year, continuing the recovery from a poor start to 1998. First quarter demand totalled 788 tonnes, just a fraction lower than the record for first quarter demand set in 1997 and just 2 per cent below the all-time record for any three month period set in the fourth quarter of last year. These statistics were released by the World Gold Council in its quarterly Gold Demand Trends issue. According to D.V. Pathy, WGC Manager - Gulf States, "Demand in the UAE was stimulated by a combination of factors. The first quarter demand was boosted by the Dubai City of Gold promotion during the Shopping Festival and various promotional activities such as the World's Longest Gold Chain. These combined with the prevailing bargain price of gold contributed to higher consumer purchases. "A definite boost to sales was received from an increase in the range of product offerings. Dubai has attained a leadership role in innovation in the bullion jewellery and small bar categories. The launch of several new products in these segments - not only by Dubai-based companies, but also by international majors - has widened buyers' choices. The council's marketing initiatives in the Gulf are paying dividends," Pathy said. Elsewhere in the Middle East, Saudi Arabian demand was hit by a decline in economic activity due to weak oil prices. In addition, fewer pilgrims during the traditional Haj season also contributed to the decline. Saudi Arabian demand declined from 70.1 tonnes 63.1 tonnes. (The 'Gulf News' )
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UAE MAY JOIN ARAB-EUROPE TRADE GROUP
The UAE may become part of a unique consortium of nations being formed to boost non-oil trade from the Arab world to the European Union. The UAE may be selected as one of the Arab countries to take part in the promotion project which will receive some financing from the European Union, said Adriana Alessandrini, area manager of the AGCC for the 27-year-old Arab-Italian Chamber of Commerce (AICC). "Our aim is to facilitate the penetration of Arab non-oil exports to the EU market and to create conditions to encourage non-oil exports," she said. Six countries - three European and three Arab - are to be part of the project. Italy is one European country taking part and it has been suggested that two of the Arab countries should be from the Mediterranean area and one from the AGCC. The idea for the promotion was first proposed in February during a meeting between the AICC and Esmat Abdel Meguid, secretary general of the Arab League. The project is in its second stage following approval three weeks ago by the EU. Another project the AICC is working on, is directed at creating joint ventures between Italian and Arab countries, said Alessandrini, who is on a week-long visit here with an AICC delegation. This project is aimed at encouraging small and medium Italian firms to go international through joint ventures. According to the AICC representative, an Italian financial institution will participate in the joint ventures with up to 20 per cent of the capital. They hope that a similar Arab institution will also put some capital into it. The delegation, led by AICC President Sergio Marini, yesterday met senior officials from the Abu Dhabi Chamber of Commerce and Industry to discuss ways of enhancing cooperation and to acquaint small and medium industries with business opportunities in both countries. (The 'Gulf News' )
UAE Olympic team will play their first game of the Sydney 2000Olympic qualifying games against Yemen today at Sharjah stadium. Yemenis lost their first meeting 0-3 to Qataris. Big crowd of the UAE national team fans are expected to show their support. The tournament organisers have already asked the fans to reach the stadium at least one hour before the match starts as the entry to stadium is free. As the goal difference will be taken into consideration in the final stages, UAE players should realize all scoring opportunities. Also, UAE midfields must stop the Yemeni right defender, Al Sirori, from launching attacks on the right flank as he repeatedly did in their clash against Qatar. The final trial training session of the UAE olympic team went according to plan. Early indications suggested that UAE coach Kirosh will be looking for an offensive strategy right from the outset. He may defend with three players and try to control the midfield with five players, two of them will move forward to provide necessary backing for the forwards along with the other right and left defenders on the flanks. Yemeni defence is vulnerable in the middle and therefore any attack, carried out with some sort of accuracy stands a fair chance of scoring as the Yemeni goalkeeper has been generous with rival strikers earlier. According to the UAE coach the team has been preparing well and the only worry is injured Mohammed Ebrahim, the Olympic team captain and Al Nasr striker, who is doubtful to start. But the coach was hopeful that the skipper will make a successful return against Qatar following his fitness test. (The 'Khaleej Times')
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TRADE LINKS WITH IRAQ GO BACK TO 7,000 YEARS
The islands and the coast of western Abu Dhabi were part of a system of commercial trade that stretched from Ras Al Khaimah to Iraq around 7,000 years ago, according to evidence recently discovered by the Abu Dhabi Islands Archaeological Survey, ADIAS. The pottery collected by ADIAS on the islands of Ghagha, in the far west of Abu Dhabi and Merawah, 100 kilometres west of Abu Dhabi, has shown that the trading links between this region and a civilisation centred in the ancient city of Ubaid in southern Iraq were more extensive than previously realised, ADIAS director Peter Hellyer said yesterday. "The existence of trading links between the Emirates and the ancient civilisation centred on Ubaid have been known for a number of years and distinctive black painted pottery from Ubaid has been identified on the northern UAE coastline as well as on the island of Dalma and in Qatar and eastern Saudi Arabia. The new evidence found in the far west of Abu Dhabi indicates that these links were extensive," he said. Pieces of pottery found during survey work on the two islands were examined recently by Professor Dan Potts of Sydney University, Australia, a leading expert on Gulf archaeology. He concluded that several pieces from each island were probably of the Ubaid type. They were also examined by Dr Sophie Mery of the French Centre Nationale pour les Recherches Scientifiques, CNRS, an expert on the early pottery of the Gulf, who confirmed that they were of types manufactured in the city of Ubaid. The Ghagha and Merawah pot shards have been sent to the CNRS facility at Nanterre, Paris, where their chemical composition will be studied as part of a programme being run by Mery to determine the place of manufacture of the Ubaid type shards, Hellyer said. The discovery on the UAE islands of the Mesopotamian pottery is an indication that their inhabitants, like those of Dalma and the northern UAE, were part of an extensive commercial network, according to Hellyer. "It is not yet clear what the early inhabitants of the UAE traded with the northern Gulf, but pearls were already being harvested in the UAE and could have been an important commodity for export," Hellyer said. "Many of the most significant sites discovered by ADIAS have been on the islands of western Abu Dhabi and this underlines their important role in the country's history as the focus of settlements for thousands of years." (The Emirates News Agency, WAM )
