Bahrain & Middle East Business Information

How Bahrain Business is combating global warming

Warm weather is nothing new in Bahrain, but even here, the mercury is rising thanks to climate change. But it is not all doom and gloom; big business in Bahrain is leading the charge in saving the world. Read more......

DEDC launches quarterly news bulletin. The new publication serves as an integrated information resource for local exporters and manufacturers.

Dubai Export Development Corporation (DEDC), the Dubai government body charged with promoting exports from the emirate, has launched the first issue of its quarterly news bulletin. This initiative is part of the corporation’s services of providing integrated information resources to assist local exporters and manufacturers develop their business in the region.

The news bulletin, consisting of eight pages, published in both English and Arabic, contains the latest economic and business news from the UAE including recent studies about potential markets and target products completed by DEDC economic experts. Additionally, the news bulletin is the first among a series of DEDC’s complimentary publications being produced to support its clients, government entities, commercial and trade attaché in the UAE.

Engr. Sa'ed Al Awadi, Chief Executive Officer, DEDC, explained that that the launch of this specialised publication will address the challenges and issues concerning the export sector in the country. This news bulletin will provide solutions as well as technical and focused studies that will eventually assist the export sector to achieve its full potential.

Our objective is to make this bulletin one of the cornerstones for a referential publication that will serve as the main resource for the local exporters and investors seeking to gather information on new business & export opportunities.

"We are currently working on additional publications and information resources that will be launched shortly," Al Awadi added.

The launch of the news bulletin follows the recent go-live of DEDC’s comprehensive website that includes extensive information on export support and trade promotion services, events and market information.

DEDC’s other value-added support services aim to include access to a full exporters’ directory, e-trading, seminars and forums. These tools will help manufacturers explore other markets, strengthen Dubai exports and open new markets for ‘Made in Dubai’ products.

CG: Why?

The New York Institute of Technology in Bahrain has invested significantly in creating an internationally competitive Fine Arts and Computer Graphic faculty. BC asks Dennis Balk, the man chosen to coordinate the course, just what he’s up to.

"I'm an artist,” he says, striding across the car park toward the Fine Art building at NYIT. “And I’m from New York; no-one is going to get me in a suit.” Certainly his black floppy sun hat is not a look often seen in the office but then as Coordinator of the Fine Arts and Computer Graphics Department, Dennis doesn’t really work in that kind of office.  Read more......

DAMAC Properties awards AED 805 million contract to ‘Intermass’ for LAKESIDE project at IMPZ

Project will be completed by December 2010

Dubai, July 26th, 2008: Luxury lifestyle provider, DAMAC Properties, has awarded an AED 805 million contract to M/s Intermass Engineering and Contracting Co. LLC., for its Lakeside project at International Media production Zone (IMPZ). This project will be completed by December 2010. Intermass is one of the most renowned contractors in the UAE and they have been associated with several landmarks in the country. Lakeside project is the DAMAC Properties third project in IMPZ- the previous two projects being the Crescent and Lago Vista in IMPZ. All the three projects are being built by Intermass.

“Intermass are one of the leaders in the engineering and construction industry in the UAE today and their appointment as main contractors is due to our faith in the quality of their work and our past experience with them. We have no doubt that they will deliver a product that offers state-of-the-art luxury and comfort to the residents at Lakeside”, said Peter Riddoch, CEO at DAMAC Properties.

Situated on the Emirates Road, the IMPZ is in close proximity to the Jebel Ali Port and the Jebel Ali Airport City, a unique free zone incorporating a vast array of residential, industrial, commercial and community service projects. The project’s prestigious location – IMPZ – extends a sophisticated lifestyle with unique facilities including in-campus transportation, medical centre, schools, hotels, shopping centres, restaurants, amphitheatre, sports grounds and full-fledged fitness clubs.

“We are delighted to commence construction of yet another masterpiece for the discerning community in the Middle East and worldwide. A beautiful residential project, Lakeside at the IMPZ is a strategic development offering everything that one seeks – from state-of-the-art facilities to eco-friendly environment,” added Mr. Riddoch.

A complex of two 21-storey and two 22-storey towers, Lakeside will have studio and one-bedroom apartments with state-of-the-art accessories, thoughtfully planned space and utilities and elegantly designed interiors.

In his comments on the project, Peter Riddoch, CEO at DAMAC Properties, said: “Set amidst beautiful lawns, fountains and gardens, Lakeside extends a pioneering, premier residential complex within the heart of IMPZ, a unique free zone in Dubai. Overall, the project extends a distinctive lifestyle expression that offers unparalleled opportunities.”

The project will also offer the perfect choice of amenities such as health clubs for men and women, steam and sauna facilities, gymnasium, aerobic centre, swimming pools, children’s play area, barbecue area, function room, tennis court and access to golf courses. Lakeside is designed by industry renowned consultants – ARKonsult.

The project’s prestigious location – IMPZ – extends a sophisticated lifestyle with unique facilities including in-campus transportation, medical centre, schools, hotels, shopping centres, restaurants, amphitheatre, sports grounds and full-fledged fitness clubs.

DAMAC has announced plans to deliver over 2300 units in 2008, followed by an additional 7100 units in 2009/10. In 2008, DAMAC will also deliver 527 units in Lake View located at Jumeirah Lake Towers, 192 units in Executive Heights project at TECOM, 198 units in Tera Del Sol 1&2 and 848 units of The Crescent, located at IMPZ. In 2009/10, they will deliver a further 7100 units.

Dubai Export Development Corporation enhances trade opportunities with European countries at Industrial Forum

Dubai Export Development Corporation (DEDC), the Dubai government body charged with promoting exports from the Emirate, has attended the first trade forum between ministry and government officials from the GCC and European Union countries to promote general industrial and subcontracting cooperation between GCC and EU member countries.

Held in Barcelona, Spain, the Gulf Cooperation Council – European Union (GCC-EU) Industrial Forum was jointly organised by the Barcelona Chamber of Commerce, Industry and Navigation (BCCIN) in conjunction with the Gulf Organisation for Industrial Consulting (GOIC). DEDC was invited to participate in the forum due to its relationship with GOIC with whom it recently signed a Memorandum of Understanding.

Attendees at the forum included high level business representatives and government officials from GCC and EU countries including H.E. Eng. Sultan Saeed Al-Mansouri, Minister of Economy, UAE; H.E. Dr Ahmed Khalil Al-Mutawa, Secretary General, GOIC, and H.E. Mr Miquel Valis, President of Barcelona Chamber of Commerce, Industry and Navigation, Spain.

Engineer Saed Al Awadi, Chief Executive Officer, Dubai Export Development Corporation, presented a paper to the forum outlining Dubai’s emerging manufacturing and export sectors, the opportunities available for Dubai businesses to export to EU countries and the range of potential opportunities available for EU organisations to invest in the UAE.

“There are significant trade opportunities available to European investors that will allow them to expand their industrial performance in Dubai. Likewise, the Dubai Government, through the Dubai Export Development Corporation, is providing support to manufacturing and industrial sectors to expand their markets and export to other markets such as the European Union,” Al Awadi said.

“Total non-oil trade between the UAE and EU countries in 2006 had a value of over 415 billion USD and DEDC is working hard to further capitalise on existing opportunities for UAE businesses within the EU market.”

DEDC is currently working with investors from EU countries to identify specific projects in the potential areas of investment and to conduct due diligence studies. Studies completed by DEDC that have already attracted investment in the region include manufacture of Probiotics, carbon black and coated and bonded abrasives.

International Trade Commission figures show mineral exports from the GCC to the EU grew 175 percent in the period 2002 to 2006.

Plastics and metals represent the most important commodities currently being exported from the UAE to GCC and European countries. Current efforts are being targeted to increase trade between the UAE and Europe through the introduction of further economic platforms.

 

Marriott Global Sales reports 18% increase in sales in 2007 for Middle East, Africa & Subcontinent

Dubai, May 6, 2008: The Marriott Global Sales Office has announced that it had registered an 18 per cent growth in sales for 2007 across the Middle East, Africa and the Subcontinent. The spurt in sales was attributed to the growing numbers in the business transient and MICE categories.

The impressive growth in 2007 was driven by a surge in intra-regional travel in the Business Transient as well as the MICE categories. Changing patterns of consumer behaviour was yet another factor that fuelled higher revenues during the year.

In his comments on the impressive sales results, Mr. Samir Daqqaq, Vice-President, Marriott Global Sales – Middle East & Africa, said: “The region’s hospitality segment is going through a highly buoyant phase. Regional business hubs like Dubai, Cairo, Doha and Bahrain have contributed significantly towards this trend. The leisure centres, traditionally led by Egypt and closely followed by Dubai, have also witnessed steady demand. Jordan, particularly Petra, has also evinced renewed interest.”

He added that the robust growth in the MICE category in the region has helped push Marriott’s sales. “The trend is especially distinct in the UAE and Saudi Arabia market, where MICE solutions are in high demand. As expected, our Marriott Executive Apartments and Courtyard brands in the Middle East are patronized by project managers associated with the construction and real estate industries,” he said.

The promotion, which has seen prizes worth AED 90 million being given away, was awarded most innovative DSF 2008 promotion, at the DSF closing ceremony in February. The promotion comprised of a mega raffle prize with a private Island worth AED 1 million and a grand raffle prize with a brand new ECLIPSE 500 Private Jet worth AED 5.5 million. Every property bought during DSF entitled the customer a chance to win either the private Island or a Jet plane. The property developer also announced a Bentley or BMW with every apartment brought during DSF 2008.