source: flickr
Tuesday, September 9, 2008
Thursday, April 3, 2008
Dubai architecture
Jean Nouvel is designing an opera house for Dubai and a branch of the Louvre next door in Abu Dhabi; the Oslo firm Snohetta has designed a “gateway”; Zaha Hadid is building a skyscraper and a massive office complex, (she's doing the opera house in Abu Dhabi); in January Norman Foster revealed plans to build an eco-city for half a million people in the Persian Gulf, and, last week, designs for the Abu Dhabi World Trade centre; and, busiest of all, there's Rem Koolhaas, with office complexes galore and a his new Waterfront City, unveiled this month.
read more at http://entertainment.timesonline.co.uk/tol/arts_and_entertainment/visual_arts/architecture_and_design/article3620340.ece
read more at http://entertainment.timesonline.co.uk/tol/arts_and_entertainment/visual_arts/architecture_and_design/article3620340.ece
Tuesday, April 1, 2008
growth in Middle East
The Gulf region is the heart of the Organization of Petroleum Exporting Countries and most of the prosperous oil sector is in government and private hands. However, high-growth areas of the economy including the construction, finance and service sectors are increasingly opening up to public equity markets. "Generally people think that the Gulf region is only about oil but lately 50 per cent of the GDP growth is coming from the non-oil sector."
The Gulf region has been able to weather the global equity sell off fairly well. Saudi Arabia is the largest member country in the MSCI GCC Index with a weighting of nearly 60 per cent. Financial services - including banks and real estate - is the largest publicly traded sector in the index at just over 50 per cent, followed by materials at 25.7 per cent. Other member countries include Kuwait (20 per cent), United Arab Emirates (14 per cent), Qatar (5.3 per cent), Oman (1.5 per cent) and Bahrain (0.5 per cent).
The Gulf region has been able to weather the global equity sell off fairly well. Saudi Arabia is the largest member country in the MSCI GCC Index with a weighting of nearly 60 per cent. Financial services - including banks and real estate - is the largest publicly traded sector in the index at just over 50 per cent, followed by materials at 25.7 per cent. Other member countries include Kuwait (20 per cent), United Arab Emirates (14 per cent), Qatar (5.3 per cent), Oman (1.5 per cent) and Bahrain (0.5 per cent).
Friday, March 21, 2008
Wealth Fund Rules
guidelines being drafted by the International Monetary Fund and the Organization for Economic Cooperation and Development.
The U.S. welcomes sovereign wealth fund investment (The funds may grow to manage $12.5 trillion within five yearsand ) looks forward to continuing to work with Singapore and UAE (have long-established, well-respected funds) and others to support the initiatives under way at the IMF and OECD.
all investments must be based only on commercial grounds, and the funds should increase the disclosure of information and make sure they have strong risk management and governance controls. countries that receive investment shouldn't set up protectionist barriers and have consistent, non-discriminatory investment rules.
SWF investment decisions should be based solely on commercial grounds, rather than to advance, directly or indirectly, the geopolitical goals of the controlling government.
The Abu Dhabi Investment Authority looks forward to supporting and implementing these principles.
China and Russia have set up funds.
The funds have invested at least $59 billion in the past year to shore up the balance sheets of such Wall Street banks as Citigroup Inc. and Merrill Lynch & Co.
The U.S. welcomes sovereign wealth fund investment (The funds may grow to manage $12.5 trillion within five yearsand ) looks forward to continuing to work with Singapore and UAE (have long-established, well-respected funds) and others to support the initiatives under way at the IMF and OECD.
all investments must be based only on commercial grounds, and the funds should increase the disclosure of information and make sure they have strong risk management and governance controls. countries that receive investment shouldn't set up protectionist barriers and have consistent, non-discriminatory investment rules.
SWF investment decisions should be based solely on commercial grounds, rather than to advance, directly or indirectly, the geopolitical goals of the controlling government.
The Abu Dhabi Investment Authority looks forward to supporting and implementing these principles.
China and Russia have set up funds.
The funds have invested at least $59 billion in the past year to shore up the balance sheets of such Wall Street banks as Citigroup Inc. and Merrill Lynch & Co.
read more at source: http://www.bloomberg.com/apps/news?pid=20601068&sid=a2Bs51SaAkFE&refer=home
Dubai to launch low-cost carrier
The government of Dubai unveiled plans on 18 March to launch in 2009 a second passenger carrier in the fast-growing emirate. The carrier will operate under a low-cost model and be based at Jebel Ali, where Dubai is developing a massive new airport in Jebel Ali, a low-cost terminal is featured in phase one of the project and will likely open next year.
Existing low cost carriers, Air Arabia, by the Sharjah government, Kuwait-based Jazeera.
United Arab Emirates market share - low-cost carriers
Airline
Weekly departures
Air Arabia 211
Air India Express 76
Jazeera Airways 17
Bahrain Air 14
Sama 11
flyyeti.com 7
Mihin Lanka 7
NAS Air 5
TOTAL low-cost carriers 348
NOTE: Based on weekly departures at all UAE airports combined, March 2008. SOURCE: Innovata.
In the UAE, low-cost carriers now account for only 12% of all departures only account for 4% of traffic in the Middle East-North Africa region, compared with over 30% in the USA and Europe.
India is by far the UAE's largest low-cost market because of the large Indian migrant population working in Dubai and Abu Dhabi. Demand in the UAE-India market is clearly outpacing supply.
Air India Express the second largest low-cost carrier in the UAE. India privately owned low-cost carriers, including Air Deccan and SpiceJet, seek to launch international services to seek more access to UAE airports with Dubai at the top of their wish lists.
Saudi government's Sama and NAS Air became the third and fourth low-cost carriers in the Middle East last year and a fifth, Bahrain Air, launched operations in February.
read more from source: http://www.flightglobal.com/articles/2008/03/20/222409/news-focus-dubai-to-launch-low-cost-carrier.html
Existing low cost carriers, Air Arabia, by the Sharjah government, Kuwait-based Jazeera.
United Arab Emirates market share - low-cost carriers
Airline
Weekly departures
Air Arabia 211
Air India Express 76
Jazeera Airways 17
Bahrain Air 14
Sama 11
flyyeti.com 7
Mihin Lanka 7
NAS Air 5
TOTAL low-cost carriers 348
NOTE: Based on weekly departures at all UAE airports combined, March 2008. SOURCE: Innovata.
In the UAE, low-cost carriers now account for only 12% of all departures only account for 4% of traffic in the Middle East-North Africa region, compared with over 30% in the USA and Europe.
India is by far the UAE's largest low-cost market because of the large Indian migrant population working in Dubai and Abu Dhabi. Demand in the UAE-India market is clearly outpacing supply.
Air India Express the second largest low-cost carrier in the UAE. India privately owned low-cost carriers, including Air Deccan and SpiceJet, seek to launch international services to seek more access to UAE airports with Dubai at the top of their wish lists.
Saudi government's Sama and NAS Air became the third and fourth low-cost carriers in the Middle East last year and a fifth, Bahrain Air, launched operations in February.
read more from source: http://www.flightglobal.com/articles/2008/03/20/222409/news-focus-dubai-to-launch-low-cost-carrier.html
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