Tag Archives: business
UAE-United States bilateral ties to grow further
UAE-United States bilateral ties to grow further Abdul Basit / 11 March 2014 Bilateral relations between the UAE and US are growing steadily and are set to witness further progress, UAE Minister of Economy Sultan bin Saeed Al Mansouri said during a meeting with US Secretary of Commerce Penny Pritzker. Sultan bin Saeed Al Mansouri and Penny Pritzker during their meeting on Monday. — Wam Al Mansouri and Pritzker discussed promising opportunities and avenues, mainly key economic sectors like knowledge economy, that could deepen bilateral cooperation that have not been harnessed yet, given the US’ status as the world’s largest economy and UAE as the second-largest Arab economy. America ranks as Dubai’s third-largest trade partner globally and non-oil trade between them was Dh86 billion last year while over the past decade, total non-oil trade increased by 500 per cent. Pritzker spent a busy day in the emirate on Monday as she met top government officials and ministers and discussed ways to further boost trade relations. In the morning she called on His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. Al Mansouri said that opportunities for joint cooperation in renewable energy were promising in light of the fact that the UAE, despite being a key oil producer, has become an industry leader in a short span of time and its impressive experiment has provided inspiration to many countries including advanced ones. Al Mansouri said World Expo 2020 in Dubai would generate huge investment opportunities for both local and foreign investors and businessmen including those from the US. He said the current visit of the US trade mission to the UAE would provide an insight into the available opportunities, and the ideal local investment and business climate. For her part, Pritzker said UAE-US relations were witnessing accelerating expansion at a time when the UAE is investing heavily in infrastructure and transport systems. She added that companies escorting her on the UAE trip were interested in investing in the UAE and the region. Pritzker noted that the UAE winning the bid to host Expo 2020 in Dubai had not come from a vacuum, rather from the good reputation of the UAE and its ability to surprise the world by hosting an exceptional edition of the World Expo. She praised the US trade ties with the UAE as “flourishing”, inviting US companies to tap investment opportunities on offer in the UAE market. Dubai Chamber Pritzker said Dubai is an extraordinary global hub and holds ample investment opportunities for American investors. At a reception hosted in her honour by the Dubai Chamber of Commerce and Industry, she said Dubai is a strategic trade partner to the US and enjoys a great line of communication and bilateral ties with American businesses. Pritzker stated that American businesses can grab the opportunities that exist here, especially in the wake of the emirate’s preparation to host Expo 2020. She called upon American businesses to look for cooperation ties with Dubai businesses in the infrastructure sector and to use the emirate to expand into the region. “The Obama administration values America’s friendship with the UAE and the Gulf, and we believe there are many opportunities to deepen our engagement, cooperation and partnership in a number of areas,” she said. “The companies on my trade mission have the ideas and technical expertise to assist Dubai as it pursues its impressive plans for infrastructure and energy development, and they understand that working together is a win-win [situation] ,” she added. The meeting was attended by representatives of Dubai Foreign Direct Investment, the Roads and Transport Authority, Dubai Drydocks and Maritime World, Emaar, DP World and Dubai Aviation City Corporation, who presented their important projects and current and future plans of growth in front of the delegates representing 21 major US companies. Hisham Al Shirawi, second vice-chairman of the Dubai Chamber, welcomed the delegation and said the visit would help further strengthen bilateral relations between Dubai and the US. Al Shirawi said that currently there are 1,285 US companies registered with the Dubai Chamber and operating in the emirate. Dubai Chamber president and chief executive officer Hamad Buamim called upon American businesses to invest in Dubai’s trade, tourism, financial services, education and green technology sectors. Saeed Mohammed Al Tayer, managing director and chief executive officer of the Dubai Electricity and Water Authority, or Dewa, on Monday also received the US trade delegation at his office. Al Tayer said that the delegation aims to strengthen cooperation and joint action between the Dewa and US companies operating in the energy sector “Dubai is a strong market for huge investment projects,” he said. Al Tayer invited the delegation to participate in tenders for the Dewa’s mega projects that are due for launch this year. — abdulbasit@khaleejtimes.com For more news from Khaleej Times, follow us on Facebook at facebook.com/khaleejtimes , and on Twitter at @khaleejtimes Continue reading
Senior citizens will get priority for Haj this year
Senior citizens will get priority for Haj this year 10 March 2014 Haj contractors need to strictly abide by set rules and regulations, particularly quota and electronic advance reservation. Expansion project at the Grand Mosque in Makkah. — Supplied photos Aged pilgrims will be given priority for Haj this year, which will take place from October 3 to 6. Mohammed Obaid Al Mazrouie, Director-General of the General Authority for Islamic Affairs and Endowment Foundation (GAIAEF), said: “The number of pilgrims on previous Haj trips and the time of the nearest pilgrimage will be examined.” Addressing a workshop organised by the GAIAEF, Dr Mazrouie said they will be holding a number of meetings with Haj contractors and other participants concerned to come up with an “excellent” vision and mechanism. All Haj contractors need to strictly abide by set rules and regulations, particularly quota and electronic advance reservation. “However, priority is to be given to first time and old pilgrims,” Mazrouie, who is also the chairman of the UAE’s official Haj mission, said. In late August 2013, Saudi authorities asked countries across the world to cut the number of Haj pilgrims by 20 per cent due to ongoing developments at the Grand Mosque in the holy city of Makkah. The number of UAE Haj pilgrims was reduced from 6,228 in 2012 to 4,982 last year. Mazrouie urged those who have already performed Haj to give a chance to those who have not. “This will help protect all pilgrims against possible risks of crowding.” Ahmed Shabib Al Dhahiri, Director-General of the Zayed bin Sultan Al Nahayan Charitable and Humanitarian Foundation, said they will adopt certain criteria during the “electronic election” of pilgrims. “We want to give equal and fair chances to all eligible pilgrims.” The Haj contractors present called for better streamlining of quota distribution in the country. “All Haj applicants are proposed to register in the GAIAEF web portal and key in their details in a unified database for pilgrims using their Emirates Identity cards.” They have also requested clear benchmarks for sorting out and picking pilgrims. “However, priority is to be given to old people who have not performed Haj.” The Haj contractors have called for registering pilgrims in the electronic database by surname and not by the first name. “A unified management has been proposed by some Haj tour operators to provide better services.” ahmedshaaban@khaleejtimes.com For more news from Khaleej Times, follow us on Facebook at facebook.com/khaleejtimes , and on Twitter at @khaleejtimes Continue reading
UAE’s priciest mobile number tops Dh7.8 million
UAE’s priciest mobile number tops Dh7.8 million Kelly Clarke (kelly@khaleejtimes.com) / 10 March 2014 Selling for a hefty Dh7,877,777, etisalat’s Diamond Plus mobile number, 0507777777, was the clear favourite among the 700 bidders on Saturday, and made more than six times that of the runner up. The UAE’s most expensive mobile number has raised a staggering seven-digit figure — or Dh7,440,777 — for charity, after going under the hammer during a live auction across Dubai and Abu Dhabi. Selling for a hefty Dh7,877,777, etisalat’s Diamond Plus mobile number, 0507777777, was the clear favourite among the 700 bidders on Saturday, and made more than six times that of the runner up. Seventy of etisalat’s most exclusive number packages went up for grabs at the auction, with the top 10 numbers alone making a hefty Dh13,852,777. Pocketing only the starting prices of all number packages showcased by the auctioneer, etisalat will donate the extra earnings to several charities, including the Khalifa Foundation. Fifty of the 700 bidders were vying for etisalat’s most exclusive digits on the day and Emirates Auction’s managing director Abdulla Al Mannaei told Khaleej Times the atmosphere was electric. “I cannot describe the feeling in the room. It was so different from any other auction we’ve had.” And when the gavel finally hit the rostrum, it brought an end to a very tense few minutes, he said. “The price went from Dh7.5 million to the winning bid in a matter of seconds. One bidder even offered Dh7,777,777, in keeping with the mobile number itself,” a move which didn’t bag the goods he said, after the winning bidder raised the offer by a further Dh100,000. Starting at a price of Dh437,000, the Diamond Plus digits alone will see a number of charities receive donations totalling Dh7,440,777. “With all the events that take place at Emirates Auctions, we give a considerable amount to charity. Etisalat will be doing the same,” Al Mannaei said. Unable to reveal the winning bidders identity, Al Mannaei did confirm that it was a man and said he will be using the number personally. “Although it is the government who own all mobile phone numbers, this bidder has the right to use it himself. He can assign the number to someone else if he wants, but he can’t sell it on.” Back in 2012, a similar auction took place in Kuwait where local telecommunications company, Viva, sold a number for Dh2.8 million, making it the most expensive in the country at the time. “That number was actually better than this one I think, because it was one zero, followed by nine fives,” Al Mannaei said. And although the auction house was expecting the etisalat number to exceed this figure, Al Mannaei admitted many were shocked that it more than doubled it. “I don’t know in terms of the rest of the world, but this is certainly the most expensive mobile number in the UAE now,” he said. A first for Emirates Auction house, Saturday’s VIP mobile number auction took place across two halls at Emirates Palace in the Capital and the Armani Hotel in Dubai. On Sunday Al Mannaei was unable to confirm the total amount raised from the auction. For more news from Khaleej Times, follow us on Facebook at facebook.com/khaleejtimes , and on Twitter at @khaleejtimes Continue reading
