du launches first-of-its-kind plan in the region to bring family members even closer

Plan offers 50% discount for calls within the family, unique sponsored call feature, consolidated bill for family and several more benefits

du, the UAE’s integrated telecom service provider, has launched MyFamily – another first of its kind in the region offer, for its Monthly plan customers. Under the plan, du and non-du customers have the convenience and flexibility of selecting a preferred du family group and enjoying 50% discount on all calls made between the family members. In addition, users will be able to enjoy the unique “Sponsored call feature”, another first in the region, by means of which Pay as you Go members will not have to pay for calls made to Monthly Plan members within the family. Read more

Starbucks announced groundbreaking initiative to support small-scale coffee farmers

Starbucks to Double Fair Trade Certified™ Coffee Purchases, Becoming the World’s Largest Buyer of Fair Trade Certified Coffee as Part of Starbucks™ Shared Planet™

Starbucks (NASDAQ: SBUX), TransFair USA and the Fairtrade Labelling Organizations International (FLO) announced a groundbreaking initiative that builds upon the organizations’ shared history of support for small-scale coffee farmers.  Starbucks, one of the largest buyers of Fair Trade Certified™ coffee, will double its purchases to 40 million pounds in 2009, making the company the largest purchaser of Fair Trade Certified coffee in the world.  Marking a new phase in their nine-year relationship with Starbucks, TransFair USA and FLO will join Conservation International as key partners in the Starbucks™ Shared Planet™ commitment to ethical sourcing. Read more

Interchange 5.5 operational

The Roads and Transport Authority RTA has declared opening of part of Jumairah Lakes Towers interchange (interchange 5.5) on Sheikh Zaid Street, which allows smooth traffic coming from Dubai via Sheikh Zaid road heading towards Jumairah Lakes Towers Area and Jumairah Islands and vise versa to Dubai anchorage, and in the direction of Dubai city through Sheikh Zaid Street. Read more

Stocks of great quality are trading at ridiculously low prices

Believe it or not, the battered markets are creating amazing opportunities.

Right now, you can make back thousands of dollars – if you have the guts to do it – by knowing what hammered stocks to buy.

In fact, these days professional money managers and DFM elite are quietly buying quality companies at once in a lifetime bargain prices.

As you’re about to see, millions and even billions are set to move into scores of beaten-up stocks. Stocks that will produce fast double-digit “bounce-back” gains.

Stocks of great quality are trading at ridiculously low prices.

And isn’t that when we’re supposed to buy stocks? Think about it…

It simple “Investing 101″: Buy low. Sell high.

Property price is no indicator of increase in inherent value

Upward spiral of prices caused by speculative demands

Whatever one pays for a property in an open market environment is the going price – the price some other purchaser would be prepared to pay — and that any subsequent ability to sell that property for a higher price means that there has been a rise in value. This is not always the case.

Properties that have fundamental value will generally hold their prices even when market circumstances turn ticularly interestingly designed, then typically, there is an on-going demand for that property even in bad times.

Plummeting prices

However, if the property is just another typical type of unit amongst hundreds of others in an area of no particular beauty or appeal, then when the market turns, it is far more likely that this type of property will be the first to plummet in price, regardless of what it may have cost at any time previously.

Speculations

Sometimes, all it means is that there is an upward spiral of pricing in the market, which is not based on fundamental demand and supply factors, but more on a feeding frenzy type of buying pattern, most often fueled by short-term speculators who are in and out within weeks or a few months at best, and, therefore, can be unpredictable if market circumstances should suddenly change. Read more

GCC states to spend UDS 120bn on new power generation projects

In order to cope up with the increasing demand for power, the Gulf countries will need to spend over USD 120bn in the next ten years to set up new power generation projects in the region, predicted the weekly report of the ‘Crescent Petroleum’ based in Sharjah, reported the Emirates News Agency WAM. Read more

Hyder Consulting reinforces global network

Newly founded Hyder Consulting GmbH will help bring further German expertise into projects across the Middle East and other markets

Hyder Consulting, the award winning international advisory and design consultancy whose Middle East portfolio includes the iconic Burj Dubai, has bolstered its global team by establishing a formidable presence in the German market.

Hyder Consulting GmbH was established following the merger of three domestic architecture and engineering design firms in Germany – Hyder Voigt (Berlin), Acerplan (Halle) and Hyder Seib (Wuerzburg). Read more

Land transactions in Dubai top Dhs683.08 millions

The total value of land transactions in Dubai today thiresday30/10/2008 peaked at Dhs683.08 millions , of which sales exceeded Dhs577.77 millions million. The total value of mortgages during the period was Dhs105.30 millions million, according to the Land Department, reported the Emirates News Agency WAM.

A total of 29 sale transactions were registered with the Department by the end of today, the most valuable of which was a plot in Bukadra that was sold for Dhs134.266 million. The next two most prominent sales saw a second plot in Jabal Ali acquired for the sum of Dhs28.807 million and another in Sport City for Dhs24.59637 million.

The Al Jadaf area was the most active in terms of today’s sales, with some 8 transactions. Emirates Hills Third followed it with 6 sales.

During the period, Al Jadaf recorded the highest turnover by value, at Dhs144.52 million, followed by the Bukadra area, Dhs134.27 million, and Sport City area, Dhs70.45 million. Read more

Minister of Economy emphasizes the UAE’s role in maintaining highest quality standards

His Excellency Sultan Bin Saeed Al Mansouri, the UAE Minister of Economy, received the new General Secretariat of the Gulf Standardization Authority, Dr Anwar Al Abdullah, at his office in Dubai, in the presence of the Director General of Emirates Authority for Standardisation and Metrology Mr Walid Falah Al Mansouri.

Dr Al Abdullah briefed Al Mansouri on the scope of work and future plans of the Authority, and requested support for areas that come within the common work of the Gulf countries, such as the Gulf Consistency Project and The infrastructure Project for the Standardisation System in the GCC. Read more

DED issues 1,090 licences in September 2008

17 new licenses issued to branches of foreign firms

The Dubai Department of Economic Development (DED) issued 1,090 licences in September 2008. The majority of these were issued in the commercial sector (875), followed by the professional sector (184), industrial (17) and tourism (14), according to a comprehensive report prepared by the Economic Affairs Division at the DED. Read more

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