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Made in the UAE show starts
Over 150 UAE manufacturers to participate in the exhibition at Expo Centre Sharjah • By Zaher Bitar, Senior Reporter Dubai: The first edition of Made in UAE Exhibition and Conference kicked off on Sunday morning at the Expo Centre Sharjah, aiming to encourage the industrial sectors and tapping the great potential of UAE manufactures. The four-day exhibition, from December 9-12, is showcasing a variety of products made in the UAE only and across all business sectors with the participation of both the public and private sectors. Located on 8,000 square metre over 150 UAE exhibitors will be participating to showcase their locally manufactured products including food and beverage, textile, furniture, paper, chemical, robber, plastic, machinery, ceramic, and building materials. P.Ravi, Marketing Director of Expo Centre Sharjah, told Gulf News that industrial development is gaining prominence in the UAE’s economy and the exhibition will be an ideal platform to enhance the performance of this sector and encourage the manufacturing across the UAE. He said: “It is the first exhibition to be held in the UAE that promotes all products made in the UAE.” Highlighting the potential of the UAE industrial sector, he added that according to the UAE Ministry of Economy, the number of manufacturers in the UAE is expected to grow by 44 per cent from 5,200 in 2011 to 7,142 in 2017. Irfan Al Hassani, UAE-based economist, said that while the manufacturing business across the UAE is showing a sustainable growth in the last few years, authorities should do more to promote this sector and provide the required facilitation to the manufacturers. Promoting this sector will help increase UAE exports and create business opportunities, he added.
Dubai to host International Forum
450 entrepreneurs, experts and investors taking part in the event • WAM Dubai: Mohammad Bin Rashid Establishment for SME Development of the Dubai Department of Economic Development (DED), launched on Sunday the first forum of its kind in the Middle East to foster the development of entrepreneurialism. Taking place at Dubai World Trade Centre, the two-day Entrepreneurialism Forum is organised in conjunction with World Entrepreneurialism Forum. About 450 entrepreneurs, experts and investors are taking part in the event. Themed: “Leading Change Towards Sustainable Development”, the forum aims at exchanging views among entrepreneurs and establishing communication among partners in different fields. Workshops will be held to come out with inspiring solutions to the economic and social challenges facing the entrepreneurs in the region. Sami Al Qamzi, Director General of the DED, said in a statement today that Dubai has become the first city in the Middle East to host the Entrepreneurialism Forum, noting that the event would contribute to solutions for the challenges facing businesses in the region and the world. Abdul Basit Al Jinahi, Executive Director of the Mohammad Bin Rashid Establishment for SME Development, said in his inaugural speech that the forum will shed light on entrepreneurship in the region to promote this important sector.
Dubai stock index closes at a five-year high
Decree allowing landlords and investors to rent out furnished homes on short-term basis boosts real estate • By Gaurav Ghose, Financial Features Editor Dubai: Dubai’s stock benchmark index closed at its highest in more than five years as the government announced regulations in the holiday home rental market that is expected to provide further boost to the strongly recovering real estate and tourism sectors. The Dubai Financial Market (DFM) General Index closed 1.41 per cent higher to end at 3055.95, its best close since October 2008. The most active stocks in terms of value traded included Emaar Properties, the company that has the biggest weight on the index and Arabetc, the region’s biggest construction company, a unit of which won a contract to build a $900 million hospital. Emaar jumped 3.07 per cent to Dh6.71 and Arabtec rose 1.52 per cent to Dh2.67. The Department of Tourism and Commerce will start issuing short-term licences to landlords and investors who plan to rent out their furnished homes, according to state agency WAM. “This is supportive for both the real estate fundamentals in Dubai and the general tourism sector,” said Rami Sidani, head of Portfolio management, Middle East and North Africa at Schroders. “Given the strong growth in tourist numbers, in the short term this will allow to increase room capacity, it will be regulated and it will definitely encourage investors as better yields will be achieved.” Last Thursday, DFMGI crossed the important psychological mark of 3000, for the first time in five years, closing at 3013.34. Positive sentiment has led to the index surging 87 per cent this year, making it one of the best performing equity markets in the world. The market received a further boost on November 27 when Dubai won the rights to host the World Expo in 2020. It is a continuation of the positive momentum as the index moved to a new high on Thursday. “Today’s advance provides further confidence that the bull trend is continuing, and is likely to draw more investors into the market to enable further upside gains,” said Bruce Powers, a trader and analyst, who writes a weekly column for Gulf News. Real estate and energy stocks pushed the Abu Dhabi stock measure to advance 1.27 per cent to 3989.62. Aldar Properties, Eshraq and Ras Al Khaimah Properties were among the major gainers.
ME carriers post strongest year-on-year growth
Muzaffar Rizvi / 8 December 2013 Set to contribute ‘significant share’ in flying 3b passengers in ’13 Middle East airlines continued to dominate in the skies as they recorded its strongest year-over-year traffic growth in October on growing demand in business and leisure travel, according to the latest report from the International Air Transport Association, or Iata. The region’s carriers stayed ahead of its global peers with a 14 per cent growth, and are set to contribute a “significant share” in carrying three billion passengers in the airline industry in a year for the first time in 2013. The Iata said airlines in the region have benefitted from strong demand for business-related premium travel, particularly to developing markets such as Africa. “Solid performance of key economies like Saudi Arabia and the UAE has also supported strong expansion in business and leisure travel,” the Iata report said. The association, which represents 240 airlines comprising 84 per cent of global air traffic, said Middle East airlines’ load factor stayed flat compared to the year ago period at 75.5 per cent. Saj Ahmad, chief analyst at London-based StrategicAero Research, said the Iata’s traffic statistics verify the long-term robustness of the GCC air travel market and certainly dispels the myth that the region is in any sort of bubble that could burst. “Let’s not forget that this 14 per cent traffic rise in the region was before the November Dubai Airshow too, so it demonstrates the traveller appeal to connect in the Middle East as a preference to Asia or other regions when flying between the two hemispheres,” Ahmad told Khaleej Times. “It is no surprise that the UAE has led the way in this continued growth, but that greater demand being realised in neighbouring Saudi Arabia is also showing through in numbers,” he said. “And with Qatar Airways starting its Saudi-based Al Maha Airways next year, there is certainly more impetus for the Saudi bloc to grow even faster given the large demand pool there that is currently untapped, particularly for the 20-35 year old age groups,” he added. African airlines’ traffic climbed 3.5 per cent compared to October 2012, the slowest rate of growth for any region and well below year-to-date expansion of 6.4 per cent. Capacity rose 8.7 per cent, resulting in a 3.3 percentage point drop in load factor to 66.1 per cent, the lowest load factor for any region. Intense competition on major trunk routes and market volatility may have affected volumes in October. Int’l passenger markets The association said global passenger traffic results for October showing a moderate acceleration of the robust demand trend of the last few months. Total revenue passenger kilometers rose 6.6 per cent compared to October 2012, an improvement over the September increase of 5.2 per cent. A capacity increase of 6.5 per cent meant that load factor was virtually flat at 78.9 per cent. “October traffic results reinforce expectations for a strong fourth quarter traffic performance in line with rising business confidence and better economic performance in the major advanced economies,” Tony Tyler, the Iata’s director-general and chief executive, said in a statement to Khaleej Times. October international passenger demand was up 6.9 per cent compared to the year-ago period with airlines in all regions recording growth. Capacity rose 6.6 per cent and load factor climbed 0.2 percentage points to 78.4 per cent. “In 2013, the airline industry will carry more than three billion passengers in a year for the first time. And on January 1, 2014, we will celebrate a century of scheduled commercial aviation. These twin landmarks provide an opportunity to reflect on the enormous contribution aviation makes to all of our lives.” “That contribution comes not from the fees and taxes with which governments continue to burden aviation and air travellers, but rather from the ability to bring people together, connect people to markets and to create opportunities for greater understanding among cultures,” said Tyler. Moreover, Asia-Pacific carriers also continued their solid performance of recent months with a 7.8 per cent rise in October compared to October 2012, the strongest performance among the three biggest regions. European carriers’ international traffic climbed 5.4 per cent in October compared to the year-ago period, on a 4.6 per cent rise in capacity, pushing load factor up 0.6 percentage points to 81 per cent. Furthermore, North American airlines saw demand rise 3.6 per cent compared to October last year, while Latin American airlines saw demand climb 8.3 per cent in October, buoyed by solid trade growth and business related travel. “Economic expansion in Colombia, Peru and Chile is supporting demand for international travel, offsetting continuing weakness in Brazil. Capacity rose 4.6 per cent and load factor jumped 2.7 percentage points to 79.7 per cent,” the Iata statement said. — email@example.com
Intertec to host seminar in Abu Dhabi
Intertec, in collaboration with its long-standing alliance partner, Infor, is hosting an exclusive seminar on Enterprise Asset Management on December 9 at Sofitel Hotel in Abu Dhabi. The session will highlight the latest technology innovations that have enhanced the asset management for leading enterprises in the region particularly from Public Sector, Facilities Management, Healthcare, Hospitality, Oil Gas, Operations Maintenance Contractors and other industries. These organisations will learn how to monitor and manage the maintenance of their company assets, including alerts that will help them eliminate operational downtimes and reveal hidden profits. A renowned speaker from Atkins F+G (Faithful + Gould) will throw light on “Designing a Balanced Scorecard for Asset Management”. Specialists from Infor will enlighten the attendees on the means of overcoming the challenges behind integrating an asset management solution to a complex IT landscape.
Abu Dhabi signs Dh5.5b infrastructure contracts
Staff Reporter / 8 December 2013 Dh3.3 billion contract to build Al Ain Hospital has been awarded to prominent construction company, Arabtec. Two contracts worth more than Dh5.5 billion have been signed by Abu Dhabi’s general services wing, Musanada, for the construction of an Al Ain hospital and the Abu Dhabi-Dubai road project. The Dh3.3 billion contract to build Al Ain Hospital has been awarded to prominent construction company, Arabtec. The contract is to build a modern 713-bed hospital to replace the existing one in the Al Jimi area of Al Ain. The hospital, set to cover 358,000 square metres and due for completion by 2018, will provide general medicine, surgery, paediatrics, maternity, ICU, and medical rehabilitation. It will also include 104 advanced specialised clinics and 17 radiology rooms. Arabtec CEO, Hasan Abdullah Ismaik, said the company was proud to be associated with the “cornerstone in the development of healthcare infrastructure in Al Ain”. “Arabtec has been actively engaged in a multitude of projects in Abu Dhabi and Dubai in support of an ambitious drive to build ultra-modern urban infrastructure for the UAE. The provision of world-class healthcare facilities is obviously at the heart of these initiatives and we at Arabtec are proud to be part of these efforts.” The hospital is intended to be constructed to simulate an ‘oasis village’, the company said, with green gardens in a temperature-controlled environment. Musanada CEO Mohammad Khalifa Al Fahed Al Muhairi said the contract was in keeping with the desire of the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, to ensure balanced development across Abu Dhabi. The contract signing also coincided with the UAE’s 42nd National Day celebrations. “The new Abu Dhabi-Dubai highway project is considered as one of the biggest and most important projects in Abu Dhabi, which aims at developing roads infrastructure in the emirate. This comes in line with the Abu Dhabi 2030 plan, and the Surface Transport Master Plan (STMP), which has been developed to upgrade the infrastructure of Abu Dhabi transportation network,” Al Muhairi said. -firstname.lastname@example.org
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