Annual cost of traffic congestion drops from AED4.9b in 2005 to AED2.4b in 2010

His Excellency Mattar Al Tayer, Chairman of the Board & Executive Director of the Roads & Transport Authority (RTA), revealed that the projects and improvements carried out by the RTA, comprising roads, bridges & tunnels as well as mass transit network including Dubai Metro, public buses & marine transit modes, contributed to reducing the cost of time wasted annually due to traffic congestions from 4.9 billion dirham in 2005 to 2.4 billion dirham in 2010.

“Projects constructed by the RTA also contributed to boosting the competitiveness of Dubai, developing the economy, appreciating the value of lands & properties, and improving the environment & safety levels among other positive effects. Road projects completed by the RTA in the past resulted in a 29 per cent increase in the total length of roads network, 195 per cent increase in the number of bridges constructed from 108 to 319 bridges, 57 per cent increase in the number of tunnels constructed, and an increase in the number of lanes crossing Dubai Creek from 19 lanes in 2005 to 48 lanes right now,” said Al Tayer.

“In case the situation was left to continue as it was before establishing the RTA and the construction of various roads & transport projects, the value of time & fuel wasted on traffic congestions would have jumped from about 8 billion dirham in 2006 to more than 13 billion dirham in 2010. Total savings made in the cost of time & fuel wastage over the past five years is as high as 35.7 billion dirham; recording an improvement by a whopping 51 per cent,” continued Al Tayer.

“RTA periodically attends to assessing the overall performance of roads network including all components such as expressways, urban roads, traffic overlapping sections and surface intersections with a view to examining the operational condition of roads network and monitoring the smooth flow of traffic. With the work progress made in constructing road projects & mass transit systems, RTA had also to examine the impact generated by these projects on the improvement of traffic flow, and their contribution to realizing RTA vision of Safe & Smooth Transport for All. The assessment of roads network is made through traffic analysis of all road elements following field surveys covering the travel time index on most roads of the Emirate during peak and off peak time, along with vehicular count on roads & signalized surface junctions. The traffic analysis covers more than 50 per cent of public roads and 10 per cent of light signals.

“RTA adopted operational performance indicators for roads network that commensurate with the objective of assessing the traffic movement. Here it benchmarks the operational condition of roads network in the Emirate against major cosmopolitan cities, and measures two key indicators in order to assess the performance of roads network namely; Traffic Level of Service Index, and Travel Time Index. These indices give a broad idea about the level of service of roads network including all elements combined. Traffic congestion in Dubai declined dramatically as it currently measures 1.36; which is a good rate compared to major global cities witnessing diverse economic activity as this index measures 1.43 in Chicago, 1.42 in San Francisco, and 1.37 in the San Diego, USA.

“Average speed on expressways in the Emirate clocked 91.2 km / h, whereas the average speed on multi-lane main roads was 66.5 km / h, and the average speed on urban & internal roads amounted to 48.2 km / h. This indicator illustrates the high traffic efficiency of roads network in the Emirate of Dubai. For example, the average speed on Sheikh Zayed Road is 90.3 km / h, whereas the average speed is 81.6 km / h on E 17 Express Road in Arizona, 77 km / h on Reo Express Road in Australia, and 60 km / h on 403 Expressway in Canada. RTA is currently establishing a historical database for the Travel Time Index to benefit from in analyzing the performance of roads network, and identifying the overall change in the rate of traffic congestion with the progress of urbanization and economic development in the Emirate.
 

Dubai Gold And Jewellery Group Holds It 14th Annual General Meeting

Dubai Gold and Jewellery Group (DGJG) has recently (Saturday, May 28, 2011) held its 14th Annual General Meeting (AGM) at the Almas Tower in Jumeirah Lakes Towers, Dubai. The AGM was hosted by the Dubai Multi Commodities Centre Authority (DMCC) and sponsored by Emirates NBD.

During the event, the Group’s annual financial statement was presented and approved. This was followed by the presentation of a detailed report on the last year’s activities. An announcement was also made regarding the appointment of auditors, NR Doshi & Co., which was presented and approved by the members of DGJG.

Speaking on the sidelines of the AGM, Anan Fakhreddin – Chairman of the DGJG and Member of the Board of Directors, said: “Over the past year, the DGJG has been a driver of growth and innovation in the jewellery sector, which has helped to strengthen Dubai’s jewellery trade and promote Dubai as ‘The City of Gold’ and one of the world’s top jewellery destinations. The results outlined during the AGM today show that the Group has overcome the challenges of the global economic downturn to become stronger and more valuable to the sustained growth of this industry. We look forward to organising many more events and initiatives in the coming year.”

Following the closure of the AGM, Ahmed bin Sulayem, Executive Chairman of DMCC Authority and Gerhard Schubert, Head of Precious Metals at Emirates NBD, held a strategy meeting with representatives of the DGJG to discuss new growth channels for Dubai’s jewellery industry.

“DMCC is a strategic initiative of the Dubai Government that continues to enhance the flow of trade through the emirate while maintaining and capitalizing on the dynamic commodities market place in the region. Since its inception, DMCC has worked closely with organisations such as the DGJG to create competitive business clusters that maximise opportunities and results,” said Ahmed Bin Sulayem, Executive Chairman of DMCC Authority. “Dubai still has a lot of unexplored potential in terms of jewellery trade and we look forward to supporting the further development within the gold and jewellery industry.”

Gerhard Schubert, Head of Precious Metals, Emirates NBD, also spoke about the different gold products and services that are boosting investments in gold. “Following the launch of our comprehensive range of specialized gold products and services in late 2010, we are noticing an increased interest in gold as an investment from many different community segments. We will continue to offer attractive options for all people keen to invest in gold, as the demand for gold is continuing to increase on a regular basis.”

The Dubai Gold and Jewellery Group was formed in 1996, with the support of the Dubai Department of Economic Development. The Group is a trade group for the Dubai jewellery industry with around 600 members, which has evolved into a prestigious trade body committed to developing and sustaining Dubai’s status as the ’City of Gold’ and ’The Jewellery Destination of the World’.
 

Jafza Records Approx AED 3.8 Million In Annual Electricity Savings In Key Areas

Jafza, the flagship entity of Economic Zones World (EZW), announced on the occasion of World Environment Day that it has been steadily energising its green efforts and actively managing utility usage to ensure minimal impact on the environment. The Free Zone has managed to save 4700KWH of electricity and AED 3.8 million in one year by curbing electricity consumption in buildings 14, 15, and 16.

As part of World Environment Day celebrations and its overall strategy to contribute to long-term business and community sustainability, EZW extended its support for the third consecutive year, to an event organised by the Ministry of Environment and Water at Dubai Mall on the 4th & 5th June, 2011. Jafza promoted environmental awareness by distributing information encouraging people to take daily measures to conserve energy and reduce their carbon footprint at the event.

Dr. Eng. Hamad Al Hashimi, MD, DIT and SVP, Corporate Communication, EZW said: “Economic Zones World has continually focused on corporate responsibility with respect to Community, Environment, Marketplace and Workplace and this forms an essential part of our operations. By participating in World Environment Day celebrations this year again we in Jafza encourage sustainable actions and environmental awareness in the community. Being mindful of one’s carbon footprint, relevant to this region and country in particular, will go a long way in ensuring sustainability. We have adopted many measures within the UAE and also in our projects across the globe and we hope to keep improving our carbon management and environmental activities.”

Specific measures undertaken by Jafza to save energy include the installation of timer controlled devices and photocells in parking areas, corridors and other parts of the buildings. Buildings 18 and 19 have been fitted with LED lights that consume less electricity.

Water saving devices have also been installed in office buildings resulting in 23% water savings. Additionally all sewage water and water drained from air conditioning units is recycled and used for irrigation. Refrigerants are also recycled and reused to minimise the free zone’s carbon footprint. Paper and aluminium can recycling bins were introduced a few years ago to encourage people to recycle.

EZW also extends its green strategies to its logistics developments and warehouses. In 2009, Jafza mandated all facility developments to follow green building standards and ensures its customers adhere strictly to them. This includes adding energy saving facilities, ensuring there are no ’over design’ items like roof Lightning Protection systems, optimising loads and a host of other measures.

Six months ago, EZW subsidiary Gazeley delivered in Jafza its first, state-of-the-art built-to-suit, environmentally efficient logistics facility in the Middle East. Featuring an array of eco- friendly measures, the 63,000 square metre distribution centre was built for global supply chain management company, CEVA Logistics. The project incorporates a wide range of sustainable features including solar powered lighting, the use of recycled and locally sourced materials and state-of-the-art warehouse lighting, complete with motion detectors and dimming controls; a system that uses at least 20% less energy than normal lighting. The suite of eco-initiatives helped the project achieve a LEED Silver rating.

The free zone operator’s other recent green initiatives include ‘think green’ campaigns, planting indigenous trees, 800 this year alone, and various other activities for environmental events such as Earth Hour, Earth Day and Clean Up UAE among others. This year, Jafza conducted a Recycling Awareness Campaign with Emirates Environmental Group (EEG) for the third consecutive year. The Free Zone collected 160 kilogrammes of used aluminum cans by placing dedicated recycling boxes for the campaign throughout key areas in the free zone including food courts, office buildings and labour camps.

University Of Dubai Awards Students And Organizations At The Annual SLAC Ceremony

The University of Dubai (UD), a prestigious university in the UAE established by Dubai Chamber of Commerce and Industry, has recognized students and organizations that contributed and supported the Department of Student Services (DSS).

The Student Life Awards Ceremony (SLAC) is a remarkable event held annually to honor those, whose contributions to the university community showed outstanding performance and commitment. The main objective of the event is to appreciate and recognize every effort done to support the DSS at the University of Dubai throughout the academic year. Students, clubs, organizations, faculty and staff were rewarded based on certain criteria set by the SLAC committee.

At the ceremony, organizers of successful events and individuals who took leadership positions in all aspects of student life such as the University of Dubai Student Union (UDSU), student clubs and sports teams were granted awards and certificates in recognition of their positive involvement. DSS also recognized its partners from different industries and business sectors that offered distinguished student services at all levels throughout the academic year.

Such unique event has become the landmark achievement for the University of Dubai as one of its known traditions in promoting all dimensions of quality and valuable candidates.

Dr M. Omar Hefni, President of UD, presented the awards, certificates and gifts to the awardees / winners. He said: “The event was very successful because it was a great gathering for students, the faculty and staff and it helped in strengthening the bond between them. The ceremony also celebrated the achievements of the students and the organizations that were working together in order to deliver successful events and activities organized by the community.”
 

Emaar Properties PJSC To Hold 13th Annual General Meeting On March 28, 2011

Emaar Properties PJSC will hold its 13th Annual General Meeting on Monday, March 28, 2011, at 5pm at the Constellation Ballroom of The Address Dubai Marina.

The AGM will discuss and approve the report of the Board of Directors on the activities and financial position of the company and the company’s balance sheet. The AGM will also discuss the appointment of the Auditors for 2011.

In 2010, Emaar recorded a net operating profit of AED 3.034 billion (US$ 826 million), 31 percent higher than the net operating profit of AED 2.324 billion (US$ 633 million) recorded in 2009. Annual revenue for 2010 was AED 12.150 billion (US$ 3.308 billion), 44 percent higher than the 2009 revenues of AED 8.413 billion (US$ 2.29 billion).

The company’s shopping malls & retail and hospitality subsidiaries contributed significantly to the revenues for the year, highlighting the successful creation of recurring revenue streams for Emaar. Approximately 24 percent of the total revenues were from these two business segments with shopping malls & retail revenues of AED 1.9 billion (US$ 517 million), and hospitality revenues of approximately AED 1 billion (US$ 272 million).

Emaar Properties will continue to focus on its strategy of creating prime real estate assets, and strengthening its shopping malls & retail and hospitality & leisure businesses in 2011, which is expected to be a signature year as international operations contribute significantly to the revenue stream.

The developer of Burj Khalifa, the world’s tallest building, Emaar is the pioneer of master-planned communities in Dubai, and today, has a strong geographic presence in key emerging markets in the Middle East and North Africa region, the Indian Subcontinent and South Asia. Last year, Emaar handed over 3,500 units in the UAE and internationally.
 

12th Annual Regional Gulf Audit Conference Starts Tomorrow

The 12th edition of the two day Annual Regional Gulf Audit Conference organised by the UAE Internal Audit Association will start on April 4th at Atlantis the Palm. The premier event for the regional audit profession is being held under the patronage of H.E. Eng.Sultan Saeed Nasser Al Mansouri, UAE Minister of Economy, who will deliver the inaugural address. The event will be followed by the First Chief Audit Executives Conference from April 6th to 7th. Over 250 internal audit professionals from the region will attend the convention.

The 12th Annual Regional Gulf Audit Conference will focus on the evolving role of audit as companies step into a post recession era. It will examine the need for better assurance, consulting solutions and optimum use of information technology to ensure a risk-centric approach.

According to Abdulqader Obaid Ali, President, UAE Internal Audit Association, ’After the financial turmoil, companies are increasingly turning to Internal Auditing to mitigate risks and ensure proper corporate governance. It is important for Internal Auditors to embrace best practices and develop our function into an independent entity that adds value to any business. The conference is an ideal opportunity to network and learn from the wide experience of keynote speakers and participants in Internal Audit methodologies and best practices internationally and in the Middle East.’

This year the Regional Gulf Audit Conference has adopted the theme ’Transforming Dreams into Reality’. Speakers include Gunther Meggeder, the Chairman of the board of The Institute of Internal Auditors; Marios Maratheftis, Regional Head of Research for Standard Chartered Bank; Roderick Winters, GM- Finance Operations, Microsoft Corporation; Joe Ioculano, Group Head of Internal Audit and Audit Committee Secretary, Mubadala; Adil Buhariwalla, Vice President Internal Audit, Emirates Group; Adele Westcott, Head of Internal Audit, The Environment Agency, Abu Dhabi and others.

The two days Chief Audit Executives (CAE) Conference, which will be held from April 6th will discuss critical issues and new opportunities for growth for the internal audit profession. The event will host a distinguished group of speakers like Malcolm Walker, General Manager & Group Chief Audit Officer, National Bank of Abu Dhabi; Larry Hubbard, founder of Larry Hubbard & Associates; Neeraj Kumar, Senior Vice President, Internal Audit, Emirates Group; and Khalid Faddagh, General Auditor, Saudi Aramco.

Key sponsors are Deloitte, KPMG, PricewaterhouseCoopers, Ernst & Young, Protiviti and The National Bank of Abu Dhabi. Both the events are supported by Emirates NBD, Du, ACL, 4Sight and Emirates Airlines.

For further information, please contact Lisa George/ Deema Khader, Iris PR, Dubai, UAE. Mob: 050 871 8561/056 628 5066. E-mail: lisa@irispr.net/deema@irispr.net
 

Retailers Bask In Impressive Footfall Figures Positive Outlook At Retailer Annual General Meeting

Mall of the Emirates, a landmark development within the MAF Properties portfolio and Dubai’s ultimate leisure, entertainment and shopping resort, recently hosted its Retailers Annual General Meeting (RAGM) in front of a near capacity crowd of retailers. Here, Mall of the Emirates Vice President Fuad Mansoor Sharaf provided retailers with an overview of 2010, in addition to the mall’s 2011 strategic plans.

A priority for any international mall is to intrinsically understand the changing needs of its customers. With this, Mall of the Emirates unveiled its extensive research to retailers gathered from the previous year. It was confirmed that research findings, such as the increase in traffic from Russian and Far Eastern tourists, lead to the proposal of more luxury fashion offerings, and thus lead to the development of the long-anticipated Fashion Dome. And, since September 2010 when the Fashion Dome opened it has become an influential factor when fashion-savvy residents and tourists alike visit the mall.

With the Fashion Dome now bringing the mall’s luxury offering to more than 60 stores, which includes internationally-recognized brands such as Christian Louboutin, Gucci, Cartier and Boutique 1, the compelling family leisure offerings with Magic Planet, a 14-screen multiplex cinema, Ski Dubai five star hotels as Kempinski Hotel and The Pullman Dubai Hotel it is no surprise Mall of the Emirates finished the year with a total footfall in excess of 31 million.

To mark the mall’s success for 2010, and as acknowledgment for all of the retailers’ hard work and efforts throughout the year, 14 awards based on sales performance, operational compliance and standards of customer service concluded the presentation.

Fashion honours went to Tommy Hilfiger & Salvatore Ferragamo who were named Best Large Fashion Store & Best Small Fashion Store whilst Centrepoint and Zara won for Best Anchor Store and Best Flagship Store respectively. Other winners were Yateem Optician, United Pharmacy, Paul Café, Jumbo Electronics, Samsonite, Tod’s & Rolex in various categories.

Closing out the ceremony with a Customer Choice Award was Carrefour and Retailer of the Year Award top honours going to Home Centre.
 

University Of Dubai Holds Fourth Annual Alumni Homecoming Under The Patronage Of Shaikh Mohammed Maktoum Juma Al Maktoum

Under the patronage of Sheikh Mohammed Maktoum Juma Al Maktoum, President of the Board of Directors of the University of Dubai’s Alumni Association (UDAA), the University of Dubai in collaboration with its Alumni Association celebrated its 4th Annual Alumni Homecoming at the Inter Continental Hotel recently.

The Alumni Homecoming, which aims to reconnect, build a stronger relationship and network with its graduates, had an astounding 400+ attendees of UD alumni and their families, faculty, staff and members of the business community. The most anticipated event of the year culminated in various fun-filled activities such as poetry, cultural dancing, recognition awards and raffle draws. Abdulla Bel Khair, UAE’s renowned star graciously sang traditional songs, which was greatly appreciated and applauded by the attendees.

Praising the role of the UDAA, Sheikh Mohammed Maktoum Juma Al Maktoum, outlined the various successful activities the association has embarked in such as the Alumni Student Mentoring Program, the UDAA and Friends Scholarship Fund and the Alumni Guest Lecture Series. Sheikh Maktoum said: “All of these programs were developed as a means of serving and assisting UD students in their educational journey, and contributing to the development and advancement of our university.” He added: “It is through the active involvement and participation in the UDAA organized events that UD alumni are able to contribute in the achievements of the association’s goals and objectives.”

Following the success of the Alumni Homecoming, the UDAA strives to continuously embark on new activities and implement ongoing projects which aim to assist and serve UD community.
 

du Celebrates 2010 Successes At Its Annual Staff Gathering

du hosted its annual celebration 2011 at the Arena Hall in DWTC, to celebrate the company’s successes in 2010.

The event is a gesture of appreciation for the commitment and effort put in by the dedicated family of colleagues without whom such impressive results would not be possible. The event was also attended by Ahmad Bin Bayat, Chairman, Osman Sultan, CEO, du’s executive management as well as over 1700 du employees.

Winners of departmental performance and internal competition awards were recognized in of the presence of their colleagues. “best managers” according to the results of studies by Gallup were also rewarded. Results of Gallup have shown that du’s employee engagement has improved significantly over the past two years, with double the number of employees now engaged year on year, placing du near the top quartile of companies worldwide. The highlight of the evening was the CEO’s presentation which covered the achievements of the past year and an overview of the vision for the year ahead.

“Our colleagues are the backbone of our company and the key to our success. We would not be where we are today without their commitment and dedicated efforts. This evening is dedicated to them and has been put together to honour their efforts with a night to remember,” said Osman Sultan, CEO, du.

Two popular international acts “Shadow Motion” and “Dress Change” performed at the event, to the delight of the audience. The acts were chosen for their content that surprises, transforms on the fly and presents the fastest options, illustrating du’s qualities as telecommunications operator and its brand values: friendly, surprising, honest and confident.

 

du Supports Dubai Shipping Agents Association Annual Gala Dinner

du supported and participated at the Dubai Shipping Agents Association (DSAA) Annual Gala Dinner, held to celebrate the company’s 10th Anniversary on Wednesday 20th of April, at The Meydan Hotel, Dubai. The Gala was a first step towards du’s strategic working relationship with DSAA.

Today voice, data and IP communications are essential to all businesses. du offers a portfolio of remote communications solutions including mobile and fixed satellite and microwave services. du also offers a range of advanced flexible, fully managed services. Today, five out of 10 of the region’s leading transportation companies move with du’s Premier Plan and du has more than 25,000 business customers comprising of large enterprises and small medium businesses who subscribe to industry-leading services to optimize their communications performance.

“We understand the demand for higher volumes of data to support critical applications and business communications onboard – along with the increasing need to support organizations’ crew with Internet-based services. Dedicated to empowering maritime businesses in the region to achieve their goals, du offers a wide array of remote communication services to meet the needs of the global maritime industry,” said Farid Faraidooni, chief commercial officer, du.

Saadi Rais, President of Dubai Shipping Agents Association said; “We are grateful for du’s invaluable support. As a non-profit organization, providing services and aid to and fostering the future development of the shipping industry in Dubai, we welcome du’s commitment to our cause and hope to continue this strategic partnership for years to come.”