20011031,WEDNESDAY





Terrorism- Special Report - CLICK HERE

UAEto dispatch second planeload of relief supplies to Afghan refugees

The second plane carrying 40 tons of relief supplies will leavefor Quetta, Pakistan, tomorrow as part of the UAE's airlift of suppliesto the Afghan refugees. Mohammed Habroush al Rumaithy, Board Member ofthe UAE Red Crescent Society, said that a caravan of trucks carrying winterclothes, foodstuff, medicine and other items had also today left for theAfghan towns of Kabul and Jalalabad. He said the Society's delegation accompanyingthe caravan would inspect the situation of hospitals and internally displacedpeople in various parts of the country to assess their needs. (The EmiratesNews Agency, WAM)

Return to contents list | WAMUP TO THE MINUTE NEWS

GCCagrees on joint plan to fight terror

Interior ministers from the Gulf Co-operation Council (GCC)countries on Tuesday condemned all forms and acts of terrorism whateverthe reason, and described all such crimes as a contradiction to all religious,human and moral values and principles. At the 20th meeting of the interiorministers, the GCC reviewed a number of issues with regard to the criticalsituation in the world following the attacks against the US on Sept.11.A final communiqué said the ministers had also discussed the consequences,ramifications of the attacks on the security conditions at the regionaland international levels.

The ministers expressed their support for formulating a mechanism for internationalco-operation to combat terrorism and to eliminate all sources of fundingas well as tackling the causes of such phenomena without harming innocentlives. They reiterated their firm stance to differentiate between terrorismand the right to legitimate struggle in resisting foreign occupation. Theministers agreed to boost precautionary measures as well as develop meansfor adopting legal and security actions to face terrorism, and secure theprotection of the GCC countries and its people against terrorist risks.They condemned the media campaign against Saudi Arabia despite Riyadh'sdeclared stance in denouncing terrorism. In order to boost co-operationand security co-ordination among the GCC countries, the ministers discusseda report presented by the secretariat-general on measures adopted by membercountries in implementing the resolutions of the GCC leaders aimed at promotingsecurity co-operation.

The ministers also endorsed a unified strategy in combating extremism associatedwith terrorism, stressing that this strategy emphasises co-operation andexchange of information in the field of combating terrorism and extremism,as well as boosting various efforts exerted in this domain. The ministersgave sanction to a working paper presented by Bahrain crushing terrorismand formation of a committee consisting members of the member countriesto study the menace and present a report on it. They also reviewed thescope of co-operation in the field of dealing with organised crime, andendorsed a formula of guidance system for the GCC countries in respectto money-laundering, highlighting the importance of co-ordination in conjunctionwith international efforts in this field. They affirmed the need to introducefurther measures to facilitate movement of citizens and flow of trade amongthe GCC states.

With regard to developing the compatibility of works in various securitydepartments, the ministers decided to provide mutual training for personnelworking in security forces and adopt the latest techniques, develop trainingmethods and exchange expertise among the GCC countries. They also affirmedthe role of reform institutions in combating crime and approved Riyadh'scharter for unified standards for alternative punishments in the GCC countries.A unified media plan for more public awareness in the field of civil defencewas also endorsed. (The Emirates News Agency, WAM)

Return to contents list | WAMUP TO THE MINUTE NEWS

CentralBank board discusses laundering law amendments

The Board of Directors of the UAE Central Bank held its seventhmeeting here yesterday under the chairmanship of Mohammed Eid Al Muraikhi,Chairman of the Board. The Board has approved minutes of the previous meetingas well as decisions taken therein. The Board discussed proposed amendmentsto the Central Bank's anti-money laundering system in light of the currentcircumstances, which require increased vigilance and caution, and endorsedthose amendments, which will soon be circulated to banks and other financialinstitutions.

The Board reviewed applications submitted by banks and moneychangers operatingin the country, to expand their business and to open new branches. TheBoard approved the applications, which fulfil the terms as per the lawand regulations applicable to each respective activity. The Board alsodiscussed results of examinations of moneychangers' activities and reviewedviolations committed by some of these entities, and decided to withdrawlicence and close one of these. The Board also decided to review lapsesby (9) moneychangers in the area of remittances, and postponed decisionin respect thereof until the review process was completed. (The EmiratesNews Agency, WAM)

Return to contents list | WAMUP TO THE MINUTE NEWS

AbuDhabi non-oil exports slip

Non-oil exports and re-exports from Abu Dhabi have declinedthis September compared to last year, according to the latest statisticsfrom Abu Dhabi Customs Department. Overall imports have seen a marginalrise. Non-oil exports slipped nearly 10 per cent to Dh34.52 million, withcategories to record noticeable declines including base metals, foodstuff,beverages, spirits and tobacco, and machinery, sound recorders and parts.Re-exports plummeted 55.6 per cent to Dh97.45 million from Dh219.64 million.

Again, machinery, sound recorders, reproducers and parts, chemical products,textiles and textile articles saw marked decrease. 'It is not a trade declinereally because re-exports in September 2000 were exceptional. There isalso a global trade slowdown,' pointed out a customs official. Importsedged up to Dh1.58 billion from Dh1.57 million despite those from the U.S.and the UK having fallen 29 per cent and 31 per cent respectively, as alsofrom Italy and France. But imports from Germany, Switzerland and Qatarrose. (The Gulf News)

Return to contents list | WAMUP TO THE MINUTE NEWS

ADIB,NIC in Dh150m financing agreement

Abu Dhabi Islamic Bank (ADIB) and National Investment Corp.(NIC) have signed a Dh150 million five-year Murabaha (Islamic financinginstrument) agreement for refinancing the Marina Mall project. The financingwill go towards expansion of the project, which includes construction ofa five-star hotel. NIC was set up as a local entity through an Emiri decreein 1999 for developing tourism and entertainment projects. The agreementwas signed by Sheikh Sultan bin Khalifa bin Zayed Al Nahyan, Member ofthe Executive Council, Chairman of the Crown Prince's Court and Chairmanof NIC, and Abdul Rahman Abdul Malek, chief executive of ADIB. It aimsat meeting the ambitious expansion plans of transforming the breakwaterarea of Abu Dhabi, where the mall is located.

Mohammed Alqubaisi, deputy chief executive of ADIB, said the completionof the transaction marks an achievement for the bank, further demonstratingthe level of confidence by major clients. The Marina Mall which openedin March this year has a total area of 117,000 square metres. Rentablearea stands at 67,000 square metres. The mall has 168 retail outlets withthe occupancy level currently at 96 per cent. On an average, some 8,000people visit the mall on weekdays while on weekends the number surges to35,000. (The Gulf News)

Return to contents list | WAMUP TO THE MINUTE NEWS

Securitiesauthority okays listing of 10 firms

The board of directors of the UAE Securities and CommoditiesMarket Authority has approved licensing 10 joint stock companies and sevenstock companies and seven stock brokerage companies. The board decidedthis at a meeting chaired by Minister of Economy and Commerce Sheikh Fahimbin Sultan Al Qasimi. The meeting discussed proposals for streamliningtrading; including the finalising rules and conditions for listing GCCcompanies on the two markets. The board also discussed asking the two marketsto request the two markets to request the boards of listed companies toallow non-nationals to own stocks in the authorised ratios and the articlesof association of such companies.

The Ministry of Economy and Commerce recently noticed that the majorityof public joint stock companies have articles of association, which allowforeigners to own shares but some of these companies' boards impose unjustifiablerestrictions. The board instructed ministry officials to follow up theelectronic networking process since this created flexibility and transparencywhich enable every broker licensed in one market to use the data and servicesof the other. The board also discussed the proposed fees in implementationof Federal Law No. 4 of 2000 on the UAE Securities and Commodities to alleviatethe burden of brokers in terms of licensing and licence renewal. The 10listed companies include National Bank of Abu Dhabi, National Bank of Dubai,Mashreqbank, Al Khazna Insurance Company, Dubai Insurance Company, AbuDhabi National Hotels Company, Abu Dhabi Building Materials Company, AlDhafra Insurance Company, Oasis International Leasing and Shuaa CapitalCompany.

The brokerages are National Brokerage Company, Emirates International Brokerage,Mashreq Securities, Union Brokerage Company Abu Dhabi Financial Servicesand Damak Al Baraka Securities. (The Gulf Today)

Return to contents list | WAMUP TO THE MINUTE NEWS

PrinceAndrew to attend the inauguration of Dubai Air show

Prince Andrew, Duke of York, willattend the inauguration of the Dubai Air show 2001 due to start on November4 with the participation of 45 British companies. The visit will be thefirst for Prince Andrew to the UAE since he was chosen to lead the BritishInternational Trade Organisation, a government authority that promotesBritish investments around the world. John Yarow, spokesman of the BritishEmbassy, said that the aim of Prince Andrew's visit was to support theBritish participation in Dubai Air show, particularly at these difficulttimes for world aviation. He said the presence of Andrew, a former navypilot who took part in the Falkland war, was to lift the level of Britishparticipation and to give a boost to the British aerobatics team. (TheEmirates News Agency, WAM)

Return to contents list | WAMUP TO THE MINUTE NEWS

DubaiAir show to spring big surprises

Dubai 2001 will offer a lot of surprises to the region's aviationindustry with some of the leading players announcing huge deals, accordingto Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Department ofCivil Aviation and Chairman of Emirates. 'I promise you, there will bebig surprises during this year's airshow,' he reassured industry officialsduring an interview with the Air Force Magazine on the five-day airshowwhich begins on Sunday. 'Deals are not made during the exhibition as purchasedecisions are preceded by in-depth study and communication between themanufacturers and the parties that place orders. They usually postponethe announcements for big events like air shows which give the deals andthe events more prominence,' he said.

About Emirate's interest in Boeing's Sonic Cruiser and Airbus A380s, hesaid, any airline would consider several elements when determining itsneeds of future aviation requirements, including seating capacity, speed,operating economics, etc. 'We have expressed our interest in Airbus A380since the very beginning when the Airbus Industry announced its plans todevelop the aircraft. Besides, an Emirates delegation met Boeing officialsin Seattle in July and held fruitful discussions with them on the proposednew aircraft, which we believe, will serve our future plans. 'We were alsobriefed about the technical details of the aircraft and we were interestedin the speed and sound level of the new aircraft. The aircraft can flyup to 7,000 to 9,000 miles without being refuelled and it has the optionfor seating between 157 to 300 passengers.' Sheikh Ahmed said, it is prematureto talk about the aircraft as they are waiting for more details and thefeasibility study report.

Praising the airshow, Sheikh Ahmed said, Dubai air show has made its positionin the world's premier aviation exhibition map. 'Over 500 exhibitors from33 countries will participate in this year's air show which shows the commercialsignificance of the event among the aircraft manufacturers all over theworld. 'It now stands among the world's three leading air shows, the Farnboroughand Le Bourget air shows. 'Since its beginning in 1989, the event has grownfrom strength to strength.' The seventh air show, he said, would displaya Czech-made 159-ALKA for the first time in its history. He said, amongthe important activities at the air show this year there will be the secondMiddle East Conference on Aviation Finance which will be attended by seniorofficials of the aviation industry, aircraft leasing institutions, banks,aircraft manufacturers and airlines.

Sheikh Ahmed attributed the government's firm backing to the show for itsworldwide success. 'The biennial event acquires great significance dueto several factors, and the most important is the Dubai Government's unlimitedsupport and the vision of General Sheikh Mohammed bin Rashid Al Maktoum,Crown Prince of Dubai and Minister Defence, and his directives to builda permanent exhibition facility for the event, at a cost of Dh300 million.'This comes from Sheikh Mohammed's understanding of the development ofinternational economy and to meet the emirate's future aspiration to becomea global hub for specialised exhibitions and international centre for neighbouringcountries. 'The high quality construction criteria and the world-classfacilities in the venue of 52,000 square metres of exhibition space andother facilities accorded to the participants have qualified the exhibitionto become the first in the world in terms of facilities.' He said, thegeographical position of the UAE at the crossroads between the East andWest, its wise policies and credibility in the international arena, theinfrastructure and security, all these contribute to the success of theexhibition.

Sheikh Ahmed said, the event is more civilian than military and offersmostly commercial aviation products. He went on to say that the futureof the show is bright as the GCC countries would invest more on civil aviationin the coming years. 'In view of the openness witnessed by the Middle Eastcountries and the high growth in air traffic and tourism in the region,these countries will need to spend billions of dollars to develop theirairports and facilities in the next 20 years. He said, countries of theregion would spend billions of dollars in the development of civil aviationfacilities, airports and acquiring commercial aircraft, which will contributeto the growth of the event in future. On Dubai's plans for infrastructuredevelopment, he said, 'Dubai has outshone others in this field, thanksto the directives and the vision of our government to develop Dubai's internationalairport to meet the travel requirements of the 20th Century. (The GulfNews)

Return to contents list | WAMUP TO THE MINUTE NEWS

ETISALATpays Dh472m to finance ministry

ETISALAT has paid an additional Dh472 million as concessionfee to the Ministry of Finance and Industry. The total amount paid so farthis year as royalty is Dh1.89 billion. ETISALAT pays 60 per cent of itsprofits annually to the Federal Government for the privilege it enjoysas the sole telecommunications provider in the country, a spokesman ofETISALAT said yesterday. The corporation has managed to supersede its counterpartsin the region and stand firm on its feet since it was established in 1976,he stated. Currently celebrating its silver jubilee, ETISALAT boasts numerousachievements and has several units such as its factory manufacturing smartcards, a communications centre, the ETISALAT Engineering College, ETISALATTraining Academy, and the Emirates Cable TV and Multimedia (E-Vision).(The Gulf News)

Return to contents list | WAMUP TO THE MINUTE NEWS

FEAexpresses gratitude, appreciation to Zayed

The Federal Environmental Agency (FEA) has expressed its gratitudeand appreciation to President His Highness Sheikh Zayed bin Sultan Al Nahyanfor taking the lead in tempering developmental needs of the country withenvironmental protection. In a lecture at the Zayed Centre to mark the30th anniversary of National Day, FEA General Director Dr Salim Al Dhahirisaid environmental agencies owe much to Sheikh Zayed, who has always keptenvironment protection high on his developmental agenda. 'Right from theoutset, President Sheikh Zayed ordered the formation of a high environmentalcommittee in l975 to oversee environmental issues,' said Dr Al Dhahiri,adding that Sheikh Zayed was keen to attach the committee to the Councilof Ministers. Since then, efforts continued unabated with environmentalsections being set up in health departments of the UAE municipalities untila federal law establishing FEA was issued in 1993.

The establishment of the FEA with an autonomous financial and administrativeidentity was a major landmark in boosting the environmental protectiondrive, said Dr Al Dhahiri. This also triggered a countrywide environmentalprotection movement. In 1999, the Federal Environmental Protection lawwas issued, outlining the legislative aspects for protecting the environment.This was followed by the release of the national environmental protectionstrategy in October 2000. (The Gulf News)

Return to contents list | WAMUP TO THE MINUTE NEWS

Children'srights draft law awaits nod

A draft law on children's rights is being reviewed by the FederalGovernmental to serve as a guideline to the authorities to fulfil the needsof children in the country once it is approved by the Cabinet. This wasannounced yesterday by Her Highness Sheikha Jawaher bint Mohammed Al Qasimi,Wife of His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Member ofthe Supreme Council and Ruler of Sharjah. She was speaking at the openingof the Fifth Children's Shura Council, which began yesterday at the SharjahConsultative Council premises at the Emiri Diwan.

The law will address all institutions concerned with childcare and wellbeing, such as the family, the Ministry of Education and Youth, the Ministryof Labour and Social Affairs, the Ministry of Health, the media and thepublic welfare associations. She praised the Children's Shura Council forgiving children a platform to discuss issues of top priority for children.'It is prime time to listen to our children and encourage them to expresstheir opinions while also respecting the different opinions,' she said.(The Gulf News)

Return to contents list | WAMUP TO THE MINUTE NEWS

Department External Information Ministry of Information and CultureP.O. Box 17, Abu Dhabi E-Mail, mininfex@emirates.net.ae Tel, 009712-4452922Fax, >009712-4450458 

                                Terrorism - Special Report - CLICK HERE