Turner Broadcasting to open office in Dubai

In time when Disney is  selling off Miramax for some $660 million and moving  into social media, by agreeing to acquire the social-gaming destination on the Internet, Playdom, for about $563 million, another giant from the media industry is looking to expand in the Middle East.

Turner Broadcasting System, which is part of the Time Warner media conglomerate and operates TV channels as CNN and Cartoon Network, announced its plans to open an office in Dubai. The US company  may also launch a local production centre in order to  boost the amount of Arabic-language content it creates. How profitable this could be, time will only show. Read more

Abu Dhabi Commercial Bank reports first half 2010 financial results

Abu Dhabi Commercial Bank (ADCB) announced its financial results for the first half of 2010 (“1H’10″).

1H’10 key highlights over 1H’09

• Customer deposits up 12% vs. loan growth of 3% over December 2009.
• Loan to deposit ratio down from 135% to 123% over December 2009.
• Net interest income up 11% at Dhs1,772m.
• Operating income up 7% at Dhs2,480m.
• Net interest margin up by 8 bps at 2.58%.
• Cost to income ratio dropped to 32% from 33% over 1H’09.
• Pre- provision profit up by 8% at 1,680m.
• Net loss of Dhs306m, negatively impacted by provisions of Dhs2bn. Read more

UAE Chairs Damascus Meeting for Preparation of the Plenipotentiary Conference “PP10” 2010 in Mexico

A UAE delegation chaired by the Telecommunications Regulatory Authority (TRA), participated in the 2nd preparatory Arab meeting, held in Damascus, in charge of the preparation for the coming Plenipotentiary Conference “PP10” 2010 to be held in Mexico, Guadalajara from 4th till 22nd October 2010.

The participating Emirati delegation included Engineer Tariq Al Awadhi, TRA executive director of spectrum and international affairs head of the delegation and Chairman of the Arab team in charge of the preparation of the Plenipotentiary Conference 2010; Engineer Nasser bin Hammad, Senior Manager, International Affairs Spectrum & International Affairs, Deputy Head of Delegation; and Engineer Nasser Marzouqi, in addition to representatives from the UAE Armed Forces, Emirates Telecommunications Corporation (Etisalat), and Emirates Integrated Telecommunications Company (du). Read more

Children have all the fun at Arabian Center

The mall evolves into one huge play ground for children of all ages at ‘The Biggest Kidz Extravaganza’

It is no more a predicament how to keep your children entertained through the summer vacations. Arabian Center, the latest hotspot for shopping, leisure and entertainment located on Al Khawaneej Road, Dubai, has transformed into a huge hub of kids entertainment this season. The mall is hosting ‘The Biggest Kidz Extravaganza’, where kids can enjoy a wide range of activities and amusement.

‘The Biggest Kidz Extravaganza’ is a children’s carnival, which boasts of an assortment of entertainment including a fashion show and talent show. Other activities include a fancy dress contest, walk on water, story-telling, car racing track, a climbing wall and a carnival show among many other exciting happenings.

With an array of activities to choose from, kids have been relishing the entertainment and having a enjoyable time at Arabian Center. Parents have been thrilled by the entertainment options available for their children at the mall. Mr. Saif Otaibah, who brought his children to the mall over the weekend, said, “Both my kids were so excited about this and enjoyed themselves thoroughly. I personally was extremely impressed by the talent show and the skills that the little children had on display. I will definitely bring them here next week as well as one weekend was not enough to enjoy all the activities.” Read more

Children’s fashion takes the ramp as DSS 2010 Kids Fashion Week begins Aug 1

Around 30 young models to star in week-long fashion extravaganza

Kids Fashion Week, a signature event of DSS that brings some of the renowned names in children’s fashion to the ramp, begins on Sunday, August 1, at Deira City Centre, a member of MAF Properties that is a key sponsor of DSS 2010. To be held till August 7, the week-long event features the latest trends in international children’s fashion. The shows will be held at 6:30pm everyday.

Kids Fashion Week this year features themed shows that will be showcased on the ramp through the combined collections of various participating brands. Brands for this year include A2Z, Sanrio, Zara Kids, Stadium, Okaidi, Woolworths, United Colors of Bennetton, Carnival 4 All. Read more

Travel for less with ibis this summer

To let travelers take full advantage of the summer vacations without worrying about your budget, ibis is repeating its summer promotions: €10 or €15 less per night from July 9 through September 5, 2010, in almost 700 destinations throughout the world. It’s time to prepare for vacation… or extend it! Fancy a couple’s break or time-out with friends? A week end escapade or a mid-week break? The ibis summer promotion offers a solution to all your travel desires. Holiday-makers can take off to discover France, Europe or the world*, without worrying about their budget! European leader in low-cost hotels, ibis is launching this offer* exclusively on the accorhotels.com website, for bookings between now and up to September 5. At ibis, you don’t have to be a star to enjoy a €10 or €15 reduction per night this summer! The ibis reductions have a rock and roll feel. The €10 or €15 euro reduction per night summer promotion is supported by a group of way-out musicians: the TENor15 band of old rockers making a comeback with the hit song “Rock you tonight”. Their fans can follow their European tour on www.facebook.com/TENor15ibis, www.youtube.com/user/theTENor15 or www.myspace.com/534627938 As seasoned travelers, they book their rooms in ibis hotels to take advantage of the many perks: 24 hour/day services, a breakfast service from 4 am to midday…. Convinced of their own fame, they welcome the reduction proposed by ibis with pride, in the belief that they are enjoying a privilege reserved for stars of their stature! But at ibis, you don’t have to be a star to benefit from the €10 or €15 reduction per night this summer. Every night reserved in one of the ibis hotels taking part in the operation – 660 hotels in 24 countries – will allow travelers to benefit from a €10 or €15 reduction. The prices indicated are the lowest weekend prices. Read more

Sofitel launches its iPad application “The Kiosk”

Following in the wake of the European launch of Apple’s iPad, the Sofitel Luxury Hotels brand is launching its own iPad application called “The Kiosk.” “The Kiosk” serves as an interactive press review, offering a selection of daily newspapers and magazines on economics, sports, fashion and lifestyle. Guests staying in the most prestigious Sofitel suites and locations in four major European cities – Paris, London, Munich and Brussels – are provided with iPads during their stay. The application allows guests to choose from a selection of 6 newspapers and magazines for each of the 6 selected countries: France, the United Kingdom, Germany, Spain, Italy and the United States. Le Monde, The Wall Street Journal, El Pais, The Financial Times, Die Welt, Vogue and l’Officiel, French fashion magazine with unique archives dating back to 1920… are just some of the titles available for easy browsing by users. Read more

Amazon announcing a New Generation of Kindle

• The iPad Experience of a Kindle Fan
• How to Shop on Amazon.com from Dubai

Millions of people are already reading on Kindles and Kindle is the #1 bestselling item on Amazon.com for two years running. It’s also the most-wished-for, most-gifted, and has the most 5-star reviews of any product on Amazon.com. Today, Amazon.com is excited to introduce a new generation of Kindle. The all-new Kindle has a new electronic-ink screen with 50 percent better contrast than any other e-reader, a new sleek design with a 21 percent smaller body while still keeping the same 6-inch-size reading area, and a 15 percent lighter weight at just 8.7 ounces. The  new generation of Kindle also offers 20 percent faster page turns, up to one month of battery life, double the storage to 3,500 books, built-in Wi-Fi, a graphite color option and more–all for only $189, and still with free 3G wireless–no monthly bills or annual contracts. Also today, Amazon.com introduced a new addition to its family of portable reading devices–Kindle Wi-Fi . Readers who don’t need the convenience of free 3G wireless can now enjoy the new generation Kindle for the lower price of only $139. The all-new Kindle and Kindle Wi-Fi are now available for pre-order and will ship to customers in over 140 countries and 30 territories beginning August 27. Read more

Aldar posts $129.5m Q2 net loss

Aldar Properties reported its third consecutive quarterly loss as the biggest real-estate developer in Abu Dhabi suffered from lower sales.

Second-quarter loss was AED475.3m ($129.5m), according to Bloomberg calculations based on half-yearly data provided by the company on Thursday. The average estimate of seven analysts was for a loss of AED210m for the quarter, according to data compiled by Bloomberg.

The company said first-half loss was 789.5 million dirhams after a profit of 1.14 billion dirhams a year earlier.

Emirates Securities Market Report for the Trading Session of Thursday 29 July 2010

The Emirates Securities Market Index has decreased by 0.04% to close at 2,477.48 points. Accordingly the Market Capitalization has lost 0.15 Billion AED attaining 365.29 Billion AED. A total of 61.77 Million shares were traded with a total value of 93.01 Million AED during the trading session of Thursday 29 July 2010 through 1,697 transactions. The Banks sector has increased by 0.28% , followed by the Insurance sector that increased by 0.05% , followed by the Services sector that decreased by 0.27% , followed by the Industry sector that decreased by 0.29%. Read more

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