YAL-UAE Spotlights Dubai in Aftermath of Global Financial Crisis to Students of North Carolina State University

The Dubai experiment has shown the Arab world a new vision of the possible, enabled by a new generation of empowered and educated Arab youth. This demographic segment may set the stage for a better tomorrow with a generational ripple of change that transcends the Dubai laboratory to reach the whole region, according to Shehab Gargash, CEO, Daman Investments and Member of Young Arab Leaders-UAE Chapter (YAL-UAE).

Gargash’s comments were addressed to visiting students from the North Carolina State University (NCSU) in the US. The delegation comprising 40 students from the university’s Middle East Studies Program is on a six-day tour of the UAE, from 18 - 23 June. The visit comes as part of an endeavor to expose the students to the New Middle East that is emerging in the GCC.

In his presentation, Gargash said: "Sound economic decisions have contributed to the resurgence of Dubai as a hub for finance and commerce. We have the modern, expensive and efficient infrastructure here, and the city is built and continues to remain open for business.

"Previous nay-sayers have bet against Dubai’s resilience and lost. The ’Dubai Factor’ will prevail. The global economic table has grown in size, and with it opportunity comes to those who snatch it, enabling ambitions of many places like Dubai to be realized."

Pointing out that there are new doors opening for new ambitious entrants on the world stage, he said the ’freshmen’ need to better assess the responsibilities that accompany the call to international glory.

Sultan Sooud Al Qassemi, Chairman, YAL-UAE, said: "Through our focus on education and entrepreneurship, YAL-UAE aims to serve as a voice for the Arab world on the global landscape for the implementation of pilot projects that serve community needs under its multi-pronged strategy.

"With our regional reach in the GCC, Middle East and North Africa, YAL-UAE continues to prove an effective platform for the re-building of social, economic and business ties with the US. We welcome more such visits from overseas students for enhanced cultural and academic exchange."

Globally recognized for its science, technology, engineering and mathematics leadership, NCSU’s Middle East Studies Program provides interdisciplinary courses on Arabic, Farsi, Middle Eastern history, religion, architecture and politics. It also offers a minor in Middle East Studies, and will commence a bachelor’s program in Middle East Studies in the forthcoming academic year.

The NCSU delegation’s visit included discussions with political, business and cultural leaders as well as meetings with university students. YAL-UAE also organised tours to institutions and landmark cultural sites, sampling of local cuisine, experiences in public spaces, and other activities that collectively contributed to enriching the students’ understanding of this region.

A non-political organisation, Young Arab Leaders (YAL) is keen to share resources and build long term relationships with organizations and ensure the development of communication mechanisms. Under its ’Education’ agenda, YAL aims to drive internship exchanges and business fellowships for enabling the Arab youth take on the challenges of the regional and global markets.

Dubai Taxi Kicks Off “Safe Driving” Initiative In Coop With Al Dobowi Tires Co.

The Dubai Taxi Corporation (DTC) of Roads & Transport Authority (RTA), in cooperation with Al Dobowi Tires Company, has recently launched “Safe Driving Road Safety Campaign” initiative targeting all DTC cabdrivers. The initiative, which was unleashed at the Drivers & Training & Qualification Center, aims at highlighting the importance of vehicle safety through maintaining tries safety as a measure to safeguard against road risks and surprises.

“In coordination with Al Dobowi Tires Co., DTC is rolling on this initiative through a series of educative lectures on safety in general and vehicle & tire safety in particular. Al Dobowi is a key supplier of tires to the DTC as per the contract concluded last month for the supply of Korean made Hankook tires compatible with the GCC specifications to the DTC for a period of two years,” said Ammar bin Tamim, Director of DTC’s Fleet Drivers Affairs.

“This initiative aims at introducing the concept of safety on roads, raising the awareness of drivers towards safe maintenance of their vehicle tires all times through regular checks and inspection of air pressure. Tires have a considerable impact on reducing accidents and curbing frequent operational problems to cabs of the DTC fleet which comprise 3504 vehicles operated by more than 7500 drivers 24 hours a day through shifts system,” he continued.

Ammar highlighted the crucial role played by tires in maintaining the vehicle’s safety in general and the driver & passengers’ safety in particular, and stressed the need to select proper tires and attend to their regular maintenance. “The DTC seeks to apply all safety & security features to its services and vehicles so as to achieve the best results and contribute to the realization of the vision of the RTA and DTC of providing Safe & Smooth Transport for All,” he continued.

“During these courses live demonstrations were made for sound and defective tires where drivers have been shown physical models of these tires such that they will closely see and grasp how to apply their acquired knowledge during their daily works as cabdrivers. Such campaigns & training courses need to be continued as the DTC is keen on qualifying and grooming drivers fully for their jobs considering them as ambassadors of the RTA and a true image depicting clearly the approach of the DTC and RTA as well,” added bin Tamim.

The Director of DTC’s Fleet Drivers Affairs said: “All new and old drivers have been subjected to various, intensive and specialized training courses based on top class global standards with a view to improving their performance and the level of services rendered to passengers and customers spanning all spectrums of the community. DTC will hold a number of educative programs and practical demonstration sessions about the best traffic safety practices during driving so as to enhance the safety of drivers, passengers and road users at large. The courses, which will be run in three languages (Arabic, English & Urdu) are held in conjunction with several specialized bodies including Dubai Police, Traffic Department of RTA Traffic & Roads Agency, and Franchise & Enforcement Department of RTA public Transport Agency,” said bin Tamim in a closing remark.
 

DGCX’s volume hits all-time monthly high in June

Total volume on Dubai Gold and Commodities Exchange (DGCX) rose to an all-time high in June at 192,138 contracts, surpassing the previous peak achieved in November 2009, according to DGCX.

The strong activity was led by significant increases in volume across all product suites - precious metals, currencies and crude oil. Month-on-month volume rose by 24% for gold, 95% for Euro/Dollar, 40% for INR and 187% for WTI futures, DGCX said in a press release.

Setting yet another record, the volume of Indian Rupee/Dollar futures also scaled a new monthly high in June, at 12,159 contracts, demonstrating robust demand for the product.

Trading and participation on the Exchange has continued to expand since the start of 2010, borne out by a year-to-date June 2010 volumes of 934,403 contracts compared to 631,850 contracts over the same period in 2009, a growth of 48%.

The underlying value of total commodity and currency futures transactions in June was $10.846bn.

Commenting on the activity in June, Eric Hasham, Chief Executive Officer, DGCX, said, "June marked several milestones for DGCX. In addition to achieving the highest traded overall and Indian Rupee volumes, June also saw the launch of three new currency contracts." "The DGCX INR/Dollar futures contract is the only exchange-traded Rupee futures outside of India, and is witnessing new interest from businesses, arbitrageurs and investors," said Hasham. "This is spurred by the contract’s higher liquidity, competitive trading costs, guaranteed settlement and reduced counterparty risk."

Dubai Electricity And Water Authority Participates In ’Yesterday’s Heritage For Tomorrow’s Generation’

Dubai Electricity and Water Authority (DEWA) today announced its participation in the summer activities organized by the Architectural Heritage department of Dubai Municipality by hosting special activities for children on the importance of protecting the environment through energy conservation.

Held at the ‘Dar Al Nadwa’ in the Bastakiya District, the activities are open to students and the children of DEWA employees for three days a week from 5 – 30 July, 2009.

‘Splashy’ and ‘Sparky’, DEWA’s mascots representing water and electricity, are adding to the edutainment part of the event with their exciting presence. Distributing gifts such as books, clothing apparel and toys, both characters are contributing to raising awareness among children on the need to save energy.

DEWA’s participation comes as part of its emirate-wide endeavour to offer advice on the methods of conserving energy and encouraging consumers to reduce their consumption rates during the peak summer hours.

Amal Koshak, Senior Manager – Demand and Tariff Management, DEWA, said: “There is no doubt that protecting the environment by not depleting our natural resources is an urgent national priority. We urge every segment of society to support us in this noble cause and help us disseminate the message to the largest number of stakeholders.

“Our participation in ‘Yesterday’s Heritage for Tomorrow’s Generation’ stems from our deep conviction in the value of educating the community on various energy conservation methods. Instilling the habit of saving power to reduce environmental damage among children will significantly help shape a healthy environment for the next generation.”

DEWA recently participated for the sixth consecutive year at the annual Dubai Summer Surprises (DSS) extravaganza through leveraging its presence at Modhesh World to educate the general public on the importance of energy conservation. In addition, it is aggressively hosting a spectrum of other activities to educate the residents of Dubai on the importance of conserving natural resources, including distributing devices that help reduce water and electricity consumption at home.

Commercial Ads Service Offered At RTA’s Customer Center In Barsha

Customer Service Centers Dep’t of Roads and Transport Authority (RTA) in Dubai made a new addition to the galaxy of services offered at RTA Customer Service Centers. The new service offered through Al Barsha Customer Service Center is Commercial Advertising; the provision of which was previously restricted to the Main Customer Service Center neighbouring RTA Head Office at Umm Ramool.

Dr. Aysha Al Busmait, Director of Customer Service Centers, said: “The new service adds to the portfolio of services rendered by RTA subsidiary customer service centers, the number of which has now topped 65 centers. The bunch of services offered include renewal of driving licenses, renewal of vehicle licensing, selling of seasonal cards, selling of bus cards, selling of Salik Cards and selling of marine transport cards among others.

“Provision of Commercial Ads Services through Al Barsha Customer Service Center broadens the scope of a service that used to be offered only through the Main Center, and demonstrates the intention of the Dep’t to deliver its services to the public at the nearest points to their homes and workplaces, thus rendering them accessible to all customers. This prompted RTA to open subsidiary centers at shopping centers which are visited by people for multiple ends, so it becomes easy for them to process their RTA transactions such as driving license renewal.

Delivering the new service at Al Barsha will facilitate the processing of such processes for Dubai residents who previously used to visit the main Customer Service Center at Deira to receive commercial ads services.

“RTA is keen to open Customer Service Centers at prime locations in the commercial centers to make them easily accessible to the public. The Dep’t carefully selects Customer Service Centers in locations that make them visible and accessible by the budget without having the inconvenience of inquiring after their detailed locations.

The Dep’t plan envisages introduction of all-inclusive employee at all subsidiary customer service center on equal footing with the Main Customer Service Center and several affiliated Customer Service Centers. This is particularly relevant as the new procedure proved efficient in saving time and effort and enhancing the skills and competencies of employees.

Emirates On The Road And In The Air In Africa

Emirates is hitting the road in Africa to lift the profile of its expansion plans on the continent.

Events will be held in South Africa and Angola, countries where Emirates is launching new routes this year. Flights to Durban start on October 1st, while services to the Angolan capital of Luanda begin on October 25th.

The main thrust of the road show activities comes from Emirates Holidays, the tour operating arm of Emirates, whose road show will cover more than a dozen towns and cities across South Africa between July 22nd and August 23rd.

Emirates Holidays, equipped with its 2009/10 brochure, A World of Choice, will be promoting its 120 destinations in key shopping malls and briefing travel agents throughout the country.

The Emirates’ Holidays road show kicked off in Durban on July 22nd and takes in places such as Umhlanga, Pietermaritzburg, Port Elizabeth, Knysna, George, Cape Town, Polokwane and Bloemfontein, before wrapping up in Johannesburg a month later.

Despite the world’s economic difficulties, the tour operating arm of Emirates has experienced an increase in year on year sales and South Africa is one of the strongest performing markets, both inbound and outbound. The launch of daily flights to Durban will supplement a daily service into Cape Town and a triple daily into Johannesburg.

John Felix, Senior Vice President, Emirates Holidays, said: "South Africa is one of our top revenue markets and its important for us to get out there and reinforce our brand presence. It’s also an opportunity for us to relationship build, make new contacts and fine-tune our products based on market feedback so we can ensure that our customers are getting the very best service and value for money. A road show of this size is particularly significant in these tougher economic times and very much demonstrates our commitment to the industry, our partners and our clients."

On the airline side, the final touches are being put to plans to bring together more than 1,000 travel industry representatives for a major road show event in Durban on July 27th. The high-profile gathering will generate the usual Emirates’ buzz, introducing the airline to the coastal city alongside top entertainment, ahead of the first flight from Dubai on October 1st.

Meanwhile, to the northwest in Angola, Emirates is working on a launch event in Luanda, which will celebrate the arrival of the carrier in the Angolan capital on October 25th. Top travel industry figures, business partners and senior government officials are expected to attend to mark the three flights a week service.

Nigel Page, Emirates’ Senior Vice President, Commercial Operations, Americas & Africa, said: "Africa has played an increasing role in the expansion of Emirates since we launched flights to Cairo back in 1986. With its burgeoning commercial activity and rapid development, we look forward to further exciting work on the continent, while at the same time playing our part in supporting Africa’s economic growth."

Emirates SkyCargo will provide assistance on both routes with the belly hold of passenger aircraft being used to transport a range of mostly consumer commodities in and out of the trade-rich continent.

The carrier has been gradually strengthening its services across Africa. In February this year, Emirates went double daily to Lagos, while the Nairobi route will be boosted with an extra weekly flight from August 1st. On the same day, daily flights to Tunis and Tripoli become de-linked.

In all, 16 passenger and cargo destinations are currently served in Africa. They are: Abidjan, Accra, Addis Ababa, Cairo, Cape Town, Casablanca, Dar es Salaam, Eldoret, Entebbe, Johannesburg, Khartoum, Lagos, Lilongwe, Nairobi, Tripoli and Tunis.

Mr Page added: "It’s highly significant that Africa is the only continent where Emirates has announced new routes for this year, despite the challenging industry conditions. We also have around 4,000 Africans amongst the 140 or so nationalities employed across the Emirates Group."

Since establishing itself as an airline in 1985, Emirates has mushroomed into a major player on the international travel and tourism stage. More than 50 brands now make up the Emirates Group including Emirates Holidays, Emirates SkyCargo, Emirates Hotels & Resorts, Skywards and Dnata.

Saleh Constructions Commence Work At Dubai Lifestyle City In DUBAILAND®

Dubai Lifestyle City (DLC), the luxury lifestyle development located in Dubailand, announced today that Saleh Constructions have commenced construction work of the project. Saleh Constructions will build the 68 Tuscan-themed villas and 120 villettes (condominiums).

The construction work of JW Marriot Hotel and the IMG Academies is scheduled to begin in September 2009. The first phase of DLC is expected to be completed by the end of 2011.

The projects network infrastructure work at the development is now complete. This includes the 100 per cent completion of the road networks, telecommunication, surface water drainage, sewage network, irrigation networks, fire-fighting system, street lighting and portable water network. The completion of the infrastructure work on the project site will help the progress of the construction activities.

Mr. Arif B. Rahman, Managing Director for Dubai Lifestyle City, said, “We are proud to share our progress and reaffirm our commitment to this unique project. The appointment of Saleh Constructions has been in line with our efforts to ensure superiority and, yet, maintain a swift pace in the construction work. The Dubai Lifestyle City has made a promise to deliver a first-of-its-kind haute living experience and we are on track to deliver the promise.”

Mohammed Al Habbai, Senior Vice President at Dubailand, added, “Dubai Lifestyle City is a unique project, which we are all very excited about. It will offer a different type of living experience and we are proud to have the project as part of Dubailand, through which we will continue to provide our full support to ensure the timely delivery of the project.”

Dubai Lifestyle City, has been conceptualized by the ETA Star group, is well en-route to raising the bar on “haute living”. Spread over a sprawling 4 million square feet enclave, the exclusive self-sufficient residential community has entered into partnerships with some of the most respected leaders from a variety of fields, including JW Marriott, IMG Academies, Microsoft, and CISCO to create 68 Tuscan-themed villas and 120 villettes (apartments), all conceived by Tony Ashai the celebrated Beverley Hills designer.

DSS Brings Another International Stage Show This Summer With ’Bob The Builder – The Sunflower Sailor’ Show In Al Ghurair City

Bob the Builder, the renowned children’s television character, will thrill children in an exciting show titled ‘The Sunflower Sailor’ at Al Ghurair City, a DSS 2009 key sponsor, on Thursday, July 23, 2009. The show is one among the many international children’s stage shows being organised during this edition of Dubai Summer Surprises.

As the building contractor specialising in masonry, Bob will appear with his colleague and business partner Wendy, and Spud, the mischievous scarecrow. The ‘Sunflower Sailor’ is based on a story where Wendy clears her garage and Bob helps her use some of the old materials to build a boat, an idea suggested by Spud. The three then set off on a sailing adventure.

Bob the Builder shows how a positive attitude, problem-solving, teamwork and follow-through are the necessary tools to complete every job and he has become a role model for children to build on. The ‘Sunflower Sailor’ will be a twenty-minute musical show with spectacular stage settings.

Show timings are 6:00pm and 8:00pm (Saturday to Wednesday), 5:30pm, 7:30pm, and 9:30pm (Thursday and Friday). There will be no shows on Tuesday.
 

Estate Market To Start Recovery In Early 2010

According to the quarterly Harbor Report, which will be issued at the end of July, the real estate industry will start to pick up in early 2010. The report which is issued by the Harbor Real Estate Brokerage Company, an integrated real estate service provider in Dubai, predicts that even though the market appears to have bottomed out, it will still take several more months until we see an improvement in the market.

‘’I believe that the market is in a phase of fragile stabilization,’’ said Mohanad Al Wadiya, Managing Director of Harbor Real Estate Brokerage and Editor in Chief of the Harbor Report. It is hard to say exactly when we will see an improvement but the general consensus is that this will be in 2010, although the pace and magnitude of Dubai’s economic recovery and its real estate industry will be largely dependent upon the global economic recovery and world economic events,” he added.

The report suggests that even though there have been many positive changes, with governments implementing monetary and fiscal policies, companies restructuring and improving their balance sheets and larger corporations considering mergers or acquisitions, it will still take several more months until we see solid and sustainable improvements.

‘’When the first Harbor Report was issued in Q1, the general mood was very somber, today, it is evident that even though the market is stressed, it is certainly not getting any worse, and that in itself is good news. We are starting to see signs that the changes made by governments and corporate institutions to combat the recession are slowly but steadily taking effect. With economists in Japan, China, USA and even Europe talking about “green shoots” or early signs that a return to economic growth is now on the horizon, it looks promising that we will see things pick up in early 2010 ,’’ said Mr. Al Wadiya

Whilst the broad consensus is that these major economies will bottom out in the 3rd quarter of 2009, Stock markets and consumer confidence indices around the world have risen significantly in the first 6 months of the year.

“This performance of stock markets around the world, even despite the recent dip, suggests the worst is behind us and we are more or less at rock bottom. The million dollar question is how long will remain at the bottom before we see real signs of sustainable recovery,” concluded Mr. Al Wadiya.

The Harbor report is a quarterly report that was first issued in April 2009. The second report will be issued at the end of July and will contain an in-depth analysis, insider views and trends of the real estate industry. The report has already received positive feedback from industry professionals in the region. For more information and to download the report please visit www.harbordubai.com

DP World To Open New Terminal In Vietnam on October 1, 2009

Global marine terminal operator DP World has set October 1st, 2009 as the date of the official inauguration of its state-of-the-art Saigon Premier Container Terminal (SPCT). A joint venture between DP World and Vietnam’s IPC, SPCT is located on the Soai Rap River 15 kilometres from Ho Chi Minh City. SPCT will further establish Ho Chi Minh City as the country’s main commercial hub.

The region’s second fastest growing economy, Vietnam has seen an average annual growth of 7.1 percent since 2000. While Ho Chi Minh City is currently served by various port facilities along the Dong Nai and Saigon rivers, several terminals on the Saigon River are slated for progressive closure over the next several years. Proximate to Ho Chi Minh City’s industrial hinterland, SPCT will handle cargo that currently moves through these ports, while attracting new volumes.

Peter Wong, Senior Vice President & Managing Director, Asia Region, said:
"SPCT is strategically placed to service not only Ho Chi Minh City but also the surrounding industrial zone."

Glen Hilton, Vice President & Managing Director, DP World SE Asia Region, said: “With 500 metres of wharf and five cranes in Phase I, SPCT can easily handle the largest vessels currently calling at Ho Chi Minh City. Dredging of the Soai Rap River to 9.5 metres, completed by the end of 2010, will cut two hours off current steaming time and double the size of alongside vessels to 5,000 TEU.”

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