UAE Launches Investment Map Highlighting Strategic Opportunities In The Country For Global Investors

His Excellency Eng. Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Undersecretary of the UAE Ministry of Economy, today, announced the launch of the UAE Investment Map, at a special ceremony in Dubai in the presence of the Ministry’s strategic partners from both public and private sectors.

Mr Al Shehhi said the initiative will promote the sustainable and balanced development of the UAE, and contribute to the GDP growth by stimulating the investment environment and attracting investment and technology that drive the knowledge economy in addition to reducing the dependence on oil by diversifying revenue streams.

Mr Al Shehhi said the UAE Investment Map comes in line with the strategic directions of the Ministry for 2011-2013 to enhance the investment environment and the competitiveness of the national economy by targeting international markets and attracting large investment projects to the UAE.

He said the initiative will serve as an indicator to guide global investors and introduce them to the various investment opportunities across all sectors of the UAE economy through a systematic and scientific approach.

The initiative is also part of the UAE Vision ‬ 2021 to drive the development of a knowledge-based economy. To achieve the Vision, the Federal Government Strategy ‬ 2011 – ‬ 2013 has set strategic directions, including the participation of UAE nationals and developing their capabilities; increasing efficiency, flexibility and productivity in the labor market; supporting small and medium enterprises; developing and promoting entrepreneurship; strengthening the regulatory framework of key sectors; encouraging and supporting existing and new sectors; promoting export development and promotion of the country’s position in international trade; and encouraging innovation and R&D.

Mr Al Shehhi said the UAE Investment Map will provide an overview of the investment opportunities in each Emirate in health, agriculture, real estate, alternative energy, SMEs, services, industry, education, and finance, among others sectors. In the first phase, the initiative aims to target markets such as Argentina, Brazil, Turkey, Germany, India, China and South Korea.

The areas that fall within the investment map also include: aluminum industry, automotive, aviation, information technology, telecommunications, financial services, electronics, engineering and industrial technology, healthcare, petrochemical industry, education and knowledge industry, and the pharmaceutical industry.

"In November, the UAE Investment Map will be officially launched during the UAE’s Investment Map conference, alongside a specialised exhibition to introduce government services to key international investors," Al Shehhi concluded.
 

UOWD Teams Win The Top Spots In CIMA Global Business Challenge

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UOWD took the top spots at the 2011 CIMA Global Business Challenge Middle East finals, with both the winning and the first runner up positions taken by the UOWD teams Quad Core and BizzBrainz respectively.

The wining team, Quad Core was mentored by Dr Mufeed Rawashdeh, Associate Professor of Accounting at UOWD. The team including Undergraduate students Basit Feroz, Kanika Amar, Neha Choudary and Sara Mukhtar beat five rival teams to win the first place. Three out of the six shortlisted teams to represent the Middle East region were from UOWD. Other teams included students from Dubai Men’s College and Herriot Watt University, Dubai.

During the course of the challenge, the six teams chosen out of 101 teams from the Middle East, developed a report and present their recommendations to varied business scenarios as management consultants to the board of a fictitious high-end fashion retailer ‘CeeCee’. The judging panel consisted of Hussein Al Sayegh, Manager of Treasury at Dubal, Andrew Mortimer, Chief Operating Officer for Barclays Capital & Barclays Wealth Middle East Region, Ammar Aqeel, Chief Financial Officer at BMMI and Steven Broomfield, Project Finance Manager for Al Marai Co.

As the winners of the 2011 Middle East Finals, Quad Core will proceed to compete at the Global Finals in Chengdu, China on 23 and 24 July 2011. They will compete against finalists from 17 different countries including: Australia, Bangladesh, China, Hong Kong, India, Ireland, Malaysia, Pakistan, the Philippines, Russia, Vietnam, Indonesia, Singapore, South Africa, Sri Lanka and the UK.

Sara Mukhtar, Team Leader Quad Core’s says, ‘the whole experience has been a unique learning opportunity for our team in understanding the workings of the corporate world. It has encouraged us to implement strategies, theories and metrics that we have been presented with during the course of our education. Overall, the experience gained will be carried forward in our future corporate endeavours. We are thrilled to have won the regional finals and look forward to successfully representing UOWD and the Middle East in China.’

A statement from CIMA Middle East: ‘’The CIMA Global Business Challenge gives undergraduates the opportunity of a lifetime to compete in an international competition and present their ideas to business elites from multinational corporations, it has indeed been a pleasure to deal with such competent students from UOWD year after year.’

The CIMA Global Business Challenge is an international competition designed to bring out the best in potential business leaders among young people. This competition provides students with an opportunity to test the depth of their financial knowledge, try out their business management skills, and expand upon their competitive ability. It has led to student internship opportunities from well-known organizations.
 

8th Dubai International Film Festival Opens For Entries: Global Profile, Funds, Growth Opportunities On Offer

The Dubai International Film Festival, the leading film festival of the Middle East, Africa and near Asia, has opened its doors to films and filmmakers for its eighth edition, to be held from December 7 to 14, 2011.

Entries are invited for the Festival’s 2011 official screening selection, including the prestigious Muhr Arab, Muhr Asia Africa and Muhr Emirati competitions, and its out-of-competition section. The Muhr Awards, presented for shorts, documentaries and feature films, offer a US$600,000 purse and are open to directors of Arab origin from around the world, their counterparts from Asia and Africa and UAE nationals respectively.

The Festival’s out-of-competition section includes the popular Arabian Nights, Cinema for Children, Cinema of AsiaAfrica, Cinema of the World and In Focus segments. Entry for both sections, expected to number in the thousands, is free and will be accepted until August 31, 2011. The final shortlist will be announced in November 2011.

Masoud Amralla Al Ali, Artistic Director, Dubai International Film Festival, said the Festival is a proven springboard for films and filmmakers into the global and regional limelight.

“Our Festival is an established destination for discovery of Arab, Asian and African cinema; our track record in catapulting films to the international domain is unmatched in the region,” Al Ali said. “Major international festivals, studios, film business leaders, media and audiences take a keen interest in our selection because of the strength of our team and the quality of our offering. We are thrilled to once more bring deserving films to the world’s attention, and look forward to some challenging months of whittling down our final selection.”

Reflecting its work in both showcasing and developing talent, the Dubai International Film Festival is also inviting filmmakers to participate in its initiatives spanning the filmmaking cycle.

Filmmakers of Arab origin, for example, are welcome to apply for the Festival’s successful co-production and post-production initiatives, as well as its myriad international collaborations.

The Dubai Film Connection, DIFF’s co-production market, will shortlist 15 director-producer teams to receive more than US$100,000 in funding, invaluable industry networking and access to specialists who help realize their documentary and feature film works in progress. Submissions for the fifth Dubai Film Connection, scheduled for December 8 to 11, will close August 1, 2011.

The Festival’s post-production support programme, Enjaaz, is also accepting applications until August 1. Enjaaz offers 15 filmmakers up to US$100,000 each to help their projects move through the final stage of filmmaking.

More details on all submission categories are available on www.dubaifilmfest.com. All films seeking entry must be produced after September 1, 2010, and must not have been screened in the Gulf region for any audiences prior to DIFF, with the exception of the Gulf Film Festival; and must not have been broadcast or made available on television or other public viewing platforms.

DIFF is held in association with Dubai Studio City. Dubai Duty Free, Dubai International Financial Centre, Dubai Pearl, Emirates Airline and Madinat Jumeirah, the home of the Dubai International Film Festival, are the principal sponsors of DIFF. The Festival is supported by the Dubai Culture & Arts Authority.

For more and updated information about DIFF, please visit www.dubaifilmfest.com

In The Presence Of More Than 2,000 Delegates, Plethora Of Major Reputable Organisations Endorse Dubai Global Energy Forum 2011

The Dubai Supreme Council of Energy today revealed its strategic partnerships and sponsors for Dubai Global Energy Forum 2011, which include a host of reputable regional and international organisations. The Dubai Global Energy Forum, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, and Prime Minister of the UAE and Ruler of Dubai, under the theme of “Energy Challenges and Opportunities for a Sustainable Future,” will take place over three days of 17 to 19 April 2011 at Dubai World Trade Centre. This forum is the first of its kind in Dubai and is expected to host over 2,000 delegates.

Sponsors for the event come from a wide range of high profile companies in a variety of fields such as oil and gas, financial institutions, transportation, manufacturing, alternative energy, and international media. The sponsors’ list includes WETEX, DEWA, DUBAL, DUSUP, ENOC and Masdar. Ducab as the Platinum Sponsor. EMAL, National Bank of Abu Dhabi, Emirates NBD, Credit Agricole, Citibank, Deutsche Bank, Standard Chartered, HSBC, RBS, and AGMC-BMW have all come onboard as Gold Sponsors. Partners include Samba Bank, ExxonMobil and Siemens. Dubai Media Incorporated is the National Media Partner, and CNBC, CNBC Arabiya and ARN are Platinum Media Sponsors and will provide media support for the event.

“The response and calibre of strategic sponsors already onboard reflects the importance and impact of Dubai Global Energy Forum 2011. We have witnessed an overwhelming response and support from our partners and sponsors locally, regionally and internationally. We are sure this calibre of partnerships and sponsorships will mutually benefit the stakeholders involved. This is because the forum will provide a platform for energy leaders and professionals to exchange views and ideas on regional and global issues related to energy policies, programs, technologies and investment opportunities. The forum will have panels and discussions hosted by international energy experts and energy specialists. This is crucial to the Forum’s aim to promoting sustainable energy for a sustainable future,” said HE Saeed Al Tayer, Vice Chairman of The Supreme Council of Energy.

Dubai Global Energy Forum 2011 is the first global event of its kind in Dubai.

 

International Culture And Art Showcased At Canadian University Of Dubais Global Day

The Canadian University of Dubai, a leading university in research and teaching recently celebrated their fourth annual Global Day event held on April 23, 2011. The event served as a platform for students to showcase the essence of their respective cultures through a series of entertaining dance performances and fashion shows, in addition to stalls that featured various food items and cultural artefacts.

“The Canadian University of Dubai prides itself for catering to students from 80 plus nationalities, which reaffirms our continuing focus to provide students with an international academic experience, guided by the highest educational and corporate ethics. “The annual Global Day event that we organise is a manifestation of the university’s cultural vibrancy and international appeal,” said Dr. Mohammed Kabir, Vice President of Academic Affairs for the Canadian University of Dubai.
 

Global Village Commences Registration For Pavilions For 2011-2012 Season

Global Village the region’s premier cultural, entertainment and shopping venue, today announced it has commenced receiving applications for pavilions for the 16th season of the annual event.

Registration for pavilions will conclude on 14 April for the 16th season of the event that last for more than 120 days.

Global Village successfully hosted pavilions representing more than 40 countries during the previous season. In the forthcoming event, it plans to attract the participation of various new countries and regions.

Global Village constantly strives to cater to the needs and expectations of the visitors from all over the world. Each season, it delivers a new spectrum of innovative offerings and services in entertainment, shopping, cuisine and cultural shows. Since inception in 1997, Global Village has evolved into a leading regional venue, celebrating diverse cultures and commerce from around the world.

Registration details and application forms for Global Village event 2011-2012 are available online at www.globalvillage.ae. Forms can also be requested by email from: sales@globalvillage.ae. For further information, please call: +971 4 362 4114 or +971 4 3624000.
 

Online Registration Now Open For Dubai Global Energy Forum 2011

The Dubai Supreme Council of Energy announced today that registration is now open for the Dubai Global Energy Forum 2011 on the event’s website; www.dgef.ae. The Forum, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the UAE, Prime Minister and Ruler of Dubai, and with the theme “Energy Challenges and Opportunities for a Sustainable Future”, will take place over three days between the 17th and 19th of April 2011 in Dubai at the Dubai World Trade Centre. Registration for the forum has been expertly organized by the council to ensure the process is easy. The Dubai Global Energy Forum 2011, the first global event of its kind in the Emirate of Dubai on energy related issues, aims to provide a platform for energy leaders and experts to exchange views on emerging regional and global issues related to energy policies, programs, technologies and investment opportunities.

H.E. Saeed Al Tayer, Vice Chairman of the Supreme Council of Energy, said, "A great number of national and top global researchers, scientists and analysts are already set to participate in the Forum. The topics they plan on discussing include policies of energy both regionally and internationally from the technical, commercial, financial and regulatory aspects, energy technologies, investment opportunities, economic diversification, market indicators, maximizing investment revenues in the fields of energy and discussing the most important issues of environment and sustainability.

The Forum will consist of eight major tracks of plenary and parallel sessions addressed by keynote speakers and panellists. Sessions will address specific topics in each track through indepth analyses and will provide the audience with focused presentations and opportunities for discussions. Energy leaders, officials, planners and energy experts from government and private sectors, international organizations and academia from around the world are participating in the event.

H.E. Saeed Al Tayer said, "Organizing such a Forum supports the Supreme Council’s mission to ensure the provision of all of the future needs for energy of the growing economy in Dubai, by securing primary sources of energy at reasonable costs and mitigating the negative effects that causes harm to the environment. The Supreme Council of Energy pays great attention to the important issues of the energy sector.”

Najd Investments Signs GCC Regional Advisory And Arrangement Mandate With Allcargo Global Logistics

Najd Investments Limited (Najd Investments) announced today that it has been mandated by Allcargo Global Logistics Limited (Allcargo) as Advisor and Arranger for the company’s expansion within the GCC region. Najd Investments will advise on all financial, strategic and investment matters for the project.

Najd Investments is a privately owned investment firm registered in the Dubai International Financial Centre (DIFC), and is regulated by the Dubai Financial Services Authority (DFSA). Najd Investments carries out Advisory and Arrangement activities with a special focus on Joint Ventures and entrepreneurial private enterprises.

Allcargo Global Logistics Limited is a leading multinational company providing integrated logistics solutions. The company is one of India’s largest publicly owned logistics company, being listed on the Bombay Stock Exchange and The National Stock Exchange of India.

The company offers specialized logistics services across Multimodal Transport Operations, Container Freight Station Operations and Project Engineering and Equipment Solutions. Benchmarked quality standards, standardized processes and operation excellence across all the services and facilities, have enabled the company to become a market leader in all these segments.

His Highness Prince Abdulmohsin Bin Abdullah, Chairman of Najd Investments said: “We are very pleased to have been chosen by Allcargo as their advisors and arrangers for this project. There is a gap in the regional market with a clear demand for their services. The region is witnessing tremendous growth and we at Najd Investments are focused, through our offerings, on creating market leading companies that can capitalize on this growth.”

Mr. Shashi Kiran Shetty, Chairman and Managing Director of Allcargo commented that “We have been active in the GCC for a significant time now and believe further strategic focus is important for our global expansion strategy. Regions with high growth and positive investment environments continue to be a target for our expansion.” Mr. Shetty further added: “When compared with more mature markets, the region has significant opportunities to increase our offerings in the general Logistics field in the areas of LCL, CFS/ICDs, warehousing, project logistics and specialized equipment rentals on par with global standards.”

 

Dubai Global Energy Forum 2011: Future Focus On Carbon Reduction Solutions

The Dubai Supreme Council of Energy announced today that the Dubai Global Energy Forum 2011, the first global event of its kind in the Emirate of Dubai on energy related issues, will be discussing the UAE’s and the world’s CO2 emissions and carbon reduction with inputs and news by some of the world’s most acknowledged energy experts. Recently, this topic is of special interest to the country as it was revealed that the government outlined in its UAE Government Vision for 2021 its plans to develop a sustainable environment and infrastructure in which carbon dioxide can be considered a resource, not a cost. The UAE, being the highest energy exporter per capita, has a vision to become the lowest-carbon economy in the region and is taking many steps to achieve its goal.

At present, the UAE hosts four registered Clean Development Mechanism projects avoiding about 350,000 Tons of CO2 emissions from the atmosphere, whereas strategic initiatives lead by the Council, amongst which the Dubai Carbon Centre of Excellence alone, have a forecasted volume of Certified Emission Reductions (CERs) of 1.7 million tons by 2012 and target 5 million by 2015.

H.E. Saeed Al Tayer, Vice Chairman of the Supreme Council of Energy, said, "Carbon management and reduction are at the top of the list of every country’s energy and environmental concerns. It is important that we not only learn and gain best practices from experts across the globe, but also that the key players in the UAE unite to achieve the goals set out before us. The upcoming Dubai Global Energy Forum will be a platform to gain valuable insights into this widely-discussed issue from a number of national and top global researchers, scientists and analysts. As such, these sessions are invaluable to today’s energy and economy leaders worldwide.”

The Supreme Council of Energy has put together the Dubai Integrated Energy Strategy for 2030 to participate in the UAE’s vision to create an environmentally-friendly and sustainable economic policy where carbon reduction is a key factor and which will be revealed at the upcoming Forum in April. The Dubai Carbon Center of Excellence (DCCE); the first center of its kind in the region, is working under the umbrella of the Supreme Council of Energy with the United Nations Development Programme (UNDP) to leverage the Emirate’s carbon potential through the Clean Development Mechanism. The Dubai Carbon Center of Excellence (DCCE) has been assigned the task of focusing on global carbon-project opportunities, while simultaneously acting as the Dubai-based stimulant to the generation of a carbon-efficient economy by developing carbon incentives for the Emirate’s key stakeholders.

Among the topics to be discussed at the Forum are included; carbon reduction: policies, programs and technologies and carbon management. Carbon emissions reduction through energy efficiency and waste heat/CO2 recovery, as well as through carbon capture and storage provide value to industrial asset owners by monetising carbon emission reductions under the current United Nations-based Clean Development Mechanism (CDM) or other applicable future international climate trading schemes, and by providing an end-to-end solution to achieve this, including carbon finance, project identification and management, technology sourcing project analysis and registration at the United Nations.
 

Emirates NBD Ranked Largest Bank In Middle East By Global Finance

In a clear sign of its dominant market position, Emirates NBD has been ranked the largest bank in the Middle East by Global Finance, which also recognised Emirates NBD as one of the top 50 banks across all international emerging markets.

These independently compiled rankings by Global Finance, a monthly magazine headquartered in New York, confirm the status of Emirates NBD as the leading bank in the region – and as an increasingly significant presence globally at a time when key emerging markets continue to drive the global economy out of recession.

Despite the impact of the global financial downturn, Emirates NBD has sustained a year-on-year compound annual growth rate (CAGR), supported by its focus on sustainable growth and its ongoing new business product and service launches such as Emirates NBD Asset Management, Emirates Money and Gold Business. The bank projects that it will sustain this growth over the next three years, on the back of strategic policies and further long-term initiatives, according to Jamal Bin Ghalaita, Deputy Chief Executive Officer, Emirates NBD Group.

“We are very pleased that the bank’s strong performance has been recognised by Global Finance,” said Bin Ghalaita. “Over the past three years, Emirates NBD Group has grown its portfolio three-fold and expanded its UAE-wide network to more than 130 branches and over 700 ATMs.

“Today, with more than 8000 employees , Emirates NBD is also directly contributing to the economic growth and diversification of the UAE as an employer of choice and leader in Emiratisation among financial services firms,” he said. “We look forward to sustaining our growth in the years to come.”

“This year’s results show that almost two years into the storm that many believed would send the emerging markets into a tailspin, the leading banks of the developing world are proving bigger, stronger and more resilient than ever,” said Joseph Giarraputo, Publisher and Editorial Director, Global Finance.

Global Finance assembled these lists with the help of Bankersalmanac. The basis of all Global Finance rankings was the size of total bank assets as of the end of 2009. For further information related to these rankings, please visit: GFmag.com.