DP World Delivers Throughput Growth Of 11% Handling 26.2 Million TEU In The First Six Months Of The Year

DP World’s global portfolio of container terminals has continued to build on the excellent start to 2011 with the momentum continuing into the second quarter. Gross volumes for the first six months of the year were 26.2 million TEU or 11% ahead of the prior year.

This performance was driven by strong growth in the Asia Pacific, UAE, Africa and Americas regions, as well as new volumes from recently opened capacity in Callao, Peru and Qingdao, China. Like for like gross volume growth was 10% .

Our portfolio of consolidated terminals handled 13.5 million TEU in the first six months of the year. Had our five terminals in Australia not been deconsolidated from 12 March 2011, the consolidated terminals would have delivered 10% growth ahead of the same six month period in 2010. Like for like consolidated volume growth in the first half was 8% .

The UAE handled 6.1 million TEU in the first six months of the year, with a record 3.1 million TEU handled during April, May and June. Whilst the first six months delivered growth 11% ahead of the same period last year, as we reported in the first quarter, this continues to reflect a relatively weak comparable period in the first half of 2010.
We have continued to invest in new capacity and our development in Vallarpadam, India and Karachi, Pakistan both opened in the first quarter of the year and are making good progress.

Mohamed Sharaf, Chief Executive Officer, DP World commented:
“DP World has delivered a very strong performance in the second quarter of the year, resulting in over 26 million containers handled for the first six months of the year, delivering a performance ahead of the industry, reflecting our positioning in the faster growing emerging markets.

“We are particularly pleased to see the UAE achieving another milestone in container handing volumes with a record 6.1 million TEU handled in six months.

“The strong container volumes seen in the first half of the year will result in a significant improvement in first half profit after tax against the same period last year.

“As we go into the second half of the year, there is some uncertainty around the global economy making it difficult to forecast how global trade will develop. Whist this uncertainty is not, as yet, reflected across our portfolio, and with our focus on the more resilient emerging markets we still expect to deliver full year results in line with expectations.”

Founder Of Maria Cristina Foundation Delivers 2011 Dubai American Academy Graduation Address

Maria Conceicao, Founder of the Maria Cristina Foundation, delivered the main address at Dubai American Academy’s 2011 graduation ceremony.

Speaking at the event, held at the Dubai American Academy on 2 June, Conceicao congratulated the 125 new graduates of the institute and encouraged them through an inspiring speech to explore how one person’s positive action can make a world of difference.

The Dubai American Academy invited Conceicao to address the students, appreciating her strong belief that education is not just the key to success, but an important tool to enhance and enrich the lives of millions of underprivileged people across the world.

Anthony Mock, Principal, Dubai American Academy, said: “We are proud to have had Maria Conceicao speak to our graduating class of 2011. She is such an inspiring individual and displays remarkable leadership qualities. Having her speak to our students on the importance of education, encouraging them to use the education to further and improve the lives of others was truly a privilege for us. Her selfless nature and desire to help those in need made her the ideal candidate to speak to the new graduates of Dubai American Academy. We would like to wish our graduating students and Maria all the success in their future endeavors.”

Conceicao encountered several challenges in establishing her foundation. However, her fierce will and determination drove her to battle all challenges and succeed. She recently finished her Last Degree Expedition to the North Pole to raise awareness and funds for the foundation, a challenge that placed a lot of physical and mental stress on her.

After the graduating ceremony, several students from the class of 2011 greeted Conceicao and spoke to her about their dreams and aspirations upon graduating.

Maria Conceicao, Founder, Maria Cristina Foundation, said: “I was honored to speak to the graduating class of 2011 of the Dubai American Academy. I had the pleasure to meet several outstanding students, who told me about what they want to accomplish in life for themselves, their families and the less fortunate. I was truly inspired. Dubai American Academy has done an impeccable job of providing an excellent education for the leaders of tomorrow.”

Founded in 1997, the Dubai American Academy is one of the most prestigious schools in Dubai and is part of the GEMS network of schools. It provides students with an exceptional education and remarkable life skills, preparing each one of them for the challenges to come.

Meanwhile, the Maria Cristina Foundation’s next endeavor is to generate funds through a photo exhibition at MORE Café, which displays the life of Bangladeshi children and adults, and also to publish a book on the topic.

The Foundation is on a quest to unlock and maximize human potential in developing countries. It is involved in several current and planned projects, including the MC Foundation Recruitment Institute, MC Foundation Community Project, MC Foundation School to School Projects and MC Foundation Community Health Program. To support the foundation you can visit www.mariacristinafoundation.org.
 

The Walk Wallet Delivers Special Offers To Residents And Visitors At The Walk At Jumeirah Beach Residence

The Walk, a Dubai Properties Group destination and a popular beachfront promenade, today announced ‘The Walk Wallet’, an innovative discount programme launched earlier this summer, is proving a popular success and continues to widen its appeal among residents and visitors.

Launched in July, The Walk Wallet comprises a host of exciting discounts for use across the popular destination. The booklet contains vouchers from a variety of restaurants and retail outlets ranging from casual dining coffee shops, fashion boutiques, accessory shops, furniture stores, and even spas and wellness centres at The Walk.

Distributed to residents throughout Jumeirah Beach Residence (JBR), Dubai Marina and Jumeirah Lake Towers, The Walk Wallet has generated significant interest and will continue to be on offer until the end of October 2010.

Participating outlets have reported an increase in footfall as a result of ‘The Walk Wallet’. Whether a visitor wants to relax and be pampered at Spa Dunya at the Shams plaza level, shop for fashion accessories at La Beaute at Murjan plaza level, or browse for unique furniture pieces and home accessories at Indigo Living, and the Vindemia art gallery, ‘The Walk Wallet’ has proved a fantastic money saver.

In addition, diners at the Rimal plaza level opting for Japanese cuisine at Haru, Indian food at Bombay by the Bay or Far Eastern menu at Soy, will enjoy 25 per cent discount with The Walk Wallet.

Khalid Al Malik, Group CEO, Dubai Properties Group, said: “The Walk Wallet was originally launched to draw visitors during the quieter summer months. But its widening appeal continues to attract more visitors to The Walk even after the Eid festivities.

“As an iconic seaside destination with a large variety of retail, leisure and entertainment outlets, The Walk has gained a reputation as one of the most preferred venues for families while tourists favour its unique ambience. We are confident our continued offerings will provide visitors even more reasons to frequent the beachfront promenade to benefit from the valuable discounts.”

Developed and managed by Dubai Properties Group, a member of Dubai Holding, The Walk receives more than three million visitors each year at its over 300 retail, dining and leisure outlets spread over 770,000 square feet.

Located over two levels, the premium retail promenade provides Dubai’s only outdoor shopping experience by the beach. It continues to offer a diverse range of events and activities throughout the year, providing visitors with an inimitable experience during every visit and adding a new dimension to the vibrant lifestyle in the emirate. More importantly, as one of the most attractive venues in the region, ‘The Walk’ contributes significantly to enhancing Dubai’s tourism sector.
 

Emirates Delivers The Goods With New Service To Dakar

With the launch of Emirates’ new route to Dakar now just six weeks away, the airline has unveiled a raft of economic benefits that the service will bring to the Middle East, West Africa and markets throughout the airline’s international network.

As the only scheduled passenger service between the United Arab Emirates and Senegal, Emirates’ new route will cut current journey times to Dakar by around the equivalent of an eight hour working day, creating an easy, fast and convenient service for business and leisure travellers.

Richard Vaughan, Divisional Senior Vice President of Emirates’ Commercial Operations Worldwide said: “Dakar is a dynamic, emerging destination that we are delighted to welcome as our nineteenth African route. As the only direct air link between Senegal and the Middle East, our new service will play an important role in supporting trade ties and tourism, facilitating the smooth movement of travellers and cargo between Senegal and Emirates’ extensive global network.”

Mr Vaughan continued: “This new route launch is a further demonstration of Emirates’ commitment to investing in and supporting the development of its pan-African footprint. Not only is the service already paying dividends through the creation of new jobs, such as our first Senegalese cabin crew and sales staff, but it will provide a significant long-term boost to trade and commerce.”

Trade between Dubai and Senegal has followed a steady path of growth in recent years. Dubai’s non-oil trade with Senegal rose from AED 504 million (US$137 million) in 2008 to AED 676 million (US$ 184 million) at the end of 2009.

His Excellency Hamad Buamim, Director General, Dubai Chamber of Commerce and Industry said: “Dubai Chamber has long recognised the importance and high potential of the African market. Senegal stood at 76th in the list of Dubai’s top trading partners at the end of 2009 and the launch of the Emirates’ new route to Dakar will strongly enhance trade between the two cities and consolidate Dubai’s status as an international business hub.

He added: “Emirates’ direct flights with Senegal will have a positive economic effect as they will cut business costs, facilitate trade and provide the right push for cementing the bilateral commercial ties. We believe that this new route will be a step towards achieving enhanced economic relations with Senegal and the region.”

The 18 tonnes of belly-hold cargo capacity on the A340-300 aircraft will support key Senegalese exports such as fresh fish, fruit and seasonal vegetables, primarily destined for Emirates’ destinations in Europe and the Mediterranean, including Milan, Madrid, Paris and Beirut. The new service will also facilitate the import of goods into Dakar such as textiles from Asia, electronics from East Asia and Europe and clothing from India.

As well as supporting new business opportunities, the Dakar route will also benefit existing collaborations between Dubai and Senegal. For example, DP World was recently awarded the concession to develop and operate the existing container terminal at Dakar’s Port du Futur and invest in a new container terminal, while the Jebel Ali Free Zone is currently developing a special economic free zone connected to Senegal’s new Blaise Diagne Airport.

Last year, the Emirates Group signed an agreement with the Government of Senegal to co-operate in the start up and longer term future of Senegal Airlines. Signed in November 2009, this agreement will see the Emirates Group provide commercial support, technical expertise, training and aviation-related goods and services.

Mr Vaughan added: “We bring a formidable reputation for service excellence to the market and we intend to live up to it. We look forward to giving passengers from Senegal much easier access to our international hub in Dubai, where they can travel onwards to more than 100 destinations across six continents.”

Starting 1st September 2010, Emirates will fly non-stop to Dakar five times a week every Tuesday, Wednesday, Friday, Saturday and Sunday. Emirates Flight 797 will depart Dubai at 09:55 and touch down at Dakar’s Léopold Sédar Senghor International Airport at 16:00hrs the same day. The return flight departs Dakar at 17:40, arriving in Dubai at 07:15 the following morning. The service connects seamlessly to key centres in the Middle East, the Indian Sub-continent, Asia and the Far East.
 

His Highness Sheikh Ahmed Delivers Key Note Address Of MENASA Forum

His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of the Dubai Supreme Fiscal Committee and Chairman of the Emirates Group today delivered the Key Note Address of the MENASA Forum at a welcome dinner hosted by the Dubai International Financial Centre (DIFC) for delegates attending the event.

Under the theme of ’Finance for the Next Decade of Growth’, the MENASA Forum, being held from 23 to 24 May 2010, is focused on discussing the critical opportunities and challenges confronting the Middle East, North Africa and South Asia (MENASA) region over the next decade.

Delivering the Key Note Address, His Highness Sheikh Ahmed Bin Saeed Al Maktoum said: “A strong rebound in emerging market economies is proving to be a key engine of global recovery and growth. The MENASA region is a major player in overall global emerging market growth. MENASA’s strong fundamentals and the financial reforms undertaken by many countries in the region over the past decade have greatly supported its ability to be resilient and recover faster.” He further said that the introduction of policies promoting liberalisation, private sector participation and global integration have provided a powerful impetus for regional growth.

Over 250 members of the regional and international banking and financial services industry, regulators and senior business executives are participating in the MENASA Forum hosted by DIFC. The event is being held in association with Abraaj Capital and Deutsche Bank and supported by Barclays, Goldman Sachs and Shuaa Capital.

Talking about MENASA’s vast economic diversity, HH Sheikh Ahmed said: “The region is rich in both capital and growth opportunities. At one end of the spectrum are countries that have huge infrastructure and development needs. At the other end are liquidity-rich economies seeking long-term investment opportunities. Put them together and you have a powerful recipe for growth.”

In order to tap economic synergies between MENASA countries, he said the business community and policymakers of the region should commit to building existing relationships. “This Forum is a great occasion for discussing how MENASA countries can forge greater integration in trade, investment and finance. This requires the setting up of a mechanism for cooperation similar to that of ASEAN,” he pointed out.

Speaking about Dubai’s role in MENASA, he said the city is a vital hub that facilitates economic, financial and trade interaction between the region’s economies. He highlighted some of Dubai’s major infrastructure projects that will enhance its status as a hub for the region including Dubai World Central; the Al Maktoum International Airport, the world’s largest passenger and cargo hub; and The Dubai Logistics Corridor which will create the world’s largest multi-modal logistics platform.

Following HH Sheikh Ahmed’s key note address, the Forum hosted a keynote dialogue with Arif Masood Naqvi, Founder and Group CEO, Abraaj Capital; and Juergen Fitschen, Member of the Management Board, Head of Regional Management Worldwide and CEO, Germany, Deutsche Bank. The dialogue was moderated by David Gardner, International Affairs Editor, Financial Times.

Juergen Fitschen said: “The successful drive for the creation of a stronger regional market should not give way to a return to protectionist tendencies at times of crisis. The successful way in which the UAE has dealt with the crisis is very encouraging in this respect, as the country continues to focus on broadening its role as a regional hub.”

Arif Masood Naqvi said: “The MENASA region lies as the heart of the emerging markets, helping drive global growth through the combination of population growth, economic reform and hydrocarbon wealth. Historically, there has been undersupply across many industries, including healthcare, education and logistics, and this undersupply can only be addressed through further investment by both government and private sector. Governments in the region have clearly identified private sector investment as a key component for growing their economies, and generating the necessary jobs for a young and growing population.”

The MENASA Forum features thought-provoking debates from an emerging markets perspective on issues such as regional capital market development, international regulatory changes, infrastructure finance opportunities, Islamic finance challenges, regional energy needs and the changing role of oil in an increasingly diversified global energy mix.