Headlines

Ramadan SMS quiz grand prize winners

September 16, 2009

Arab Media Group (AMG) is pleased to announce the grand prize winners of its Ramadan SMS quiz contest held during the month of Ramadan. AMG extends its warmest congratulations to the lucky winners of the grand prizes, which include four luxury holidays and an Umrah trip, as well as to the many daily winners who, throughout the Holy month, have bagged cameras, restaurant vouchers, iPods, iftar vouchers and more!

The GRAND PRIZE WINNERS of the luxury holidays are:
1. Madhu Arora,  who’s won a two-night stay at the Al Maha Desert Resort & Spa, Dubai
2. Sneha Bhandarkar, who’s won a two-night stay at the Shangri La’s Barr Al Jissah Resort & Spa, Muscat
3. Fathy Abo Alfadil Allam, who’s won a two-night stay at The Chedi Hotel, Muscat
4. Maysaa Abo Jazar, who’s won a four-night holiday in the Maldives
Last but not least, the grand prize winner of the Umrah package is Amal Jomaa Rashid.

AMG would also like to take this opportunity to wish everyone Eid Mubarak!

Mall operators free to decide parking fees, says RTA

September 17, 2009

The RTA has not intervened in mall operators' decision to charge parking fees, officials said yesterday.

Abdul Mohsin Ibrahim Younes, CEO of Strategy and Corporate Governance at RTA, said the new parking system introduced by mall operators are based on studies by investors. He stressed the land in which the malls are situated are private property.

"We have not intervened in their decision with regards to the fees," he told a media gathering in Dubai Press Club. "At the outset, we don't want you to use your car. That is why there will be public buses, which will cover 95 per cent of Dubai. Why park your car in the Mall of the Emirates?"

His comments came after Mall of the Emirates and Deira City Centre, both owned by Majid Al Futtaim, last week said that parking would be free during the weekend. The malls have also extended free parking during weekdays from three to four hours.

Younes said currently there are nine million individual trips daily and that only six per cent of the population is using the mass transport system.

He said Dubai is aiming at increasing this figure to 30 per cent by 2020. As much as 17 per cent is expected to come from Metro usage while the remaining will be divided between buses and maritime taxis/buses.

Private sector holiday on 1st, 2nd Shawwal

September 16, 2009

The Eid Al Fitr holiday for private sector employees will fall on the first and second days of Shawwal, the 10th month of the Islamic calendar, Minister of Labour Saqr Ghobash Saeed Ghobash announced yesterday.

Federal ministries and departments will observe the holiday from Saturday – the 29th day of Ramadan – until the third day of Shawwal, resuming work on the fourth day.

The start of the month of Shawwal will be determined by a moon-sighting committee set up by Minister of Justice Dr Hadif Ju'an Al Dhaheri.

The committee will meet in the capital after Maghreb prayers on Saturday to decide whether the crescent moon, which marks the start of the new Islamic month, has appeared.

Eid is for kids

The coming of Eid al-Fitr is a joyous occasion for Muslims all over the world. Muslims in different parts of the world may speak different languages but their hearts are united by one religion - Islam. This unification is clearly reflected on many aspects of life, including ways of celebrating the Holy occasion.

In most parts of the Arab world if not the whole of the Arab world, people believe that the real joy of Eid is seen in the eyes of children as preparations to receive the Eid starts with purchasing new clothes for them. 

Another way to make children feel the joyous spirit of Eid, rather than buying them new clothes, is to offer them presents which they can open and play with throughout the day with freinds. But some children still prefers Ediya or Eid money so they can buy whatever they like.

Here's our list of gift suggestion's for the little ones:

• School bags, pencil cases and lunch boxes - with school quickly approaching this might be a way to send them back with a smile on their face.

• Boardgames - don't underestimate the power of a good boardgame, we alway's find they're great for celebrations as the whole family can get involved.

• Bikes, skateboards and roller blades - With summer almost behind us why not incourage the little ones to get active again and take to the great outdoors.

• The latest Play Station, XBox or Wii - No, they're not the most wholesome of gifts but they are really really cool!

Zakat Al Fitr essential for Muslims

 
September 15, 2009

Every Muslim, rich or poor, young or old, male or female, and have fasted or not are required to give Zakat Al Fitr, according to an eminent scholar.

“Zakat Al Fitr is a precious opportunity for all Muslims, irrespective of their financial status, to experience the ‘taste’ of giving, Chief Mufti with the Dubai Islamic Affairs and Charitable Activities Department, Dr Sheikh Ali Mashael said.

According to him, most scholars agreed that Muslims prefer to pay Zakat Al Fitr, which is a compulsory charity for breaking the fast, in the place where they enjoy the first night of the month of Shawwal, which follows Ramadan.

“Expatriates are thus advised to pay Zakat Al Fitr here as it is paid for breaking the fast, rather than fasting. Should a Muslim die before the sunset of the last day of Ramadan, Zakat would not be obligatory upon him even if he fasted the whole month. Conversely, if a child is born after the sunset of the last day of Ramadan, it would be mandatory to pay Zakat on his or her behalf,” he said.

DFM beats bleak Ramadan forecast, up 11.9%

September 14, 2009

By Sreenivasa Rao Dasar, Emirates Business 24-7

The Dubai Financial Market (DFM) has made a mockery of predictions that trading would be bleak during Ramadan by gaining 11.93 per cent since the start of the holy month of fasting.

Analysts had predicted slow trading during Ramadan as Muslims fasted and expatriates continued to take their summer holidays. Instead the market has comfortably exceeded the average price return recorded during the same period in 2008 and 2007 – and analysts say the DFM is poised for a post-Ramadan rally.

The average price return in the 17 sessions since August 23 stands at 9.79 per cent, compared with a negative 14.62 per cent in 2008 and 4.17 per cent in 2007.

The DFM general index added 11.93 per cent during the 17 sessions and closed yesterday at 2030.04 – a net rise of 216.34 points since the beginning of Ramadan. The main reason for the latest rally was the fact that stocks were underpriced, which attracted foreign investors.

Foreign investors were net buyers on the DFM during the past three weeks as their net investment in the market stood at Dh588.89 million, while Arabs and UAE/GCC nationals remained net sellers during the period.

The return of foreign investors, coupled with the re-entry of Arabs and UAE nationals after Eid Al Fitr, is likely to trigger a new rally on the bourse.

The pattern of Ramadan trading has been different from what was seen in previous years.

The Dubai stock exchange witnessed a rally in the stocks in 2007 and a fall in 2008, but interestingly trading volumes improved on both occasions.

Marginal increase in food prices

September 13, 2009

By Staff Writer, Emirates Business 24-7

Overall food prices rose 0.49 per cent in the third week of Ramadan compared to the previous week, showed figures released yesterday by the Statistics Centre-Abu Dhabi (SCAD).

In its Foodstuffs Price Index, SACD attributed the overall rise to an increase in the prices of certain items in various sub-groups.

Meat prices increased by 40 per cent, fish and sea food by 2.75 per cent, fruits by 1.98 per cent and pulses by 1.04 per cent, the centre's report said. Other items whose prices moved up were sugar, jam, honey, chocolate and confectionery – all by 0.06 per cent – and coffee, tea and cocoa by 0.33 per cent.

Meanwhile, partially offsetting this rise, the prices of some other items inched down: bread and cereals by 0.14 per cent, milk, cheese and eggs by 0.53 per cent and oils and fats by 2.15 per cent. Prices of mineral water, soft drinks and various types of fruit juices remained stable.

Further, in a comparison of prices between the third week of Ramadan and the week preceding the start of the holy month, the report revealed that prices had risen 0.2 per cent. This resulted from a surge in the prices of items in a number of subgroups, with bread and cereal prices going up 1.20 per cent, meat by 0.43 per cent, fruits and pulses by 0.64 per cent each, sugar, jam, honey, chocolate and confectionery by 1.35 per cent, and, mineral water, soft drinks and fruit juices 0.35 per cent.

In the same comparison period, prices of some other goods dropped as well. Fish and seafood prices fell 2.70 per cent; milk, cheese and eggs by 0.21 per cent; oils and fats by 0.55 per cent; and coffee, tea and cocoa by 0.10 per cent.

Analysis of the report's findings points to a rise of 0.07 per cent in food prices during the third week of Ramadan as compared with the price levels of July.

This was due to higher prices of meat, whose prices nudged up 0.34 per cent; fish and seafood, which increased by 2.65 per cent; pulses, which went up 16.19 per cent; sugar, jam, honey, chocolate and confectionery increasing by 15.64 per cent; and mineral water and soft drinks by 1.05 per cent.

In the same period, the prices of some goods went down as well. Bread and cereal prices fell by 7.79 per cent; milk, cheese and eggs by 1.81 per cent; fruits by 11.89 per cent; oils and fats by 0.98 per cent; and coffee, tea and cocoa by 0.64 per cent.

The report is part of a series through which the centre will closely monitor daily changes in the prices of food commodities in the local markets of Abu Dhabi during Ramadan.

Sheikh Mohammed launches Dubai Metro

September 10, 2009

By Vigyan Arya, Emirates Business 24-7

The driverless and state-of-the-art Dubai Metro opened last night, changing life in the city forever and injecting new vigour and enthusiasm into the emirate.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and the Ruler of Dubai, used his own customised Nol card at exactly nine minutes and nine seconds past nine at the Mall of the Emirates station ticket validation point – the moment sparked grand celebration and fireworks to mark the festive launch of the Dh28 billion system that took four years to build.

Sheikh Mohammed called the Metro a vital component of the nation's infrastructure. "It's the start of something," he said before the operation's launch. "It is like when the first plane flew for Emirates airline and the first container ship arrived at [Rashid] Port."

"[I am] on the Metro and the ride is very smooth and quiet," Sheikh Mohammed said on his Twitter page soon after boarding the train.

No plans to make zakat must for companies

September 09, 2009

By Abdel Hai Mohamed, Emirates Business 24-7

There are no plans to introduce laws to make zakat compulsory for private companies in the UAE, according to the Abu Dhabi Department of Economic Development (DED).

Zakat – or alms giving – is one of the Five Pillars of Islam and involves giving a small percentage of one's wealth to the poor and needy.

"There are no moves in the government to make the collection of zakat from companies, rich people or other individuals obligatory," DED Undersecretary Mohammed Omar Abdullah told Emirates Business.

DED carries out awareness campaigns to encourage the payment of zakat via charitable institutions, especially the Zakat Fund.

"Awareness campaigns result in many positives and boost the collection of zakat through charitable institutions," added Abdullah. "We do not need decisions or laws obliging companies or the rich to pay their zakat to the Zakat Fund or other institutions.

"We aim to work with the institutions that collect zakat to organise charity projects that encourage volunteer work in the emirate and establish a strong relationship between civil institutions and the government."

Abdullah, who was speaking on the sidelines of the first Abu Dhabi Zakat Forum organised by DED, said there was no objection to investing zakat funds in small projects that generated returns for collection institutions provided that the poor and needy benefited from the proceeds.

Abdullah bin Aquidah Al Muhairi, Secretary-General of the Zakat Fund, confirmed that the Cabinet was not considering legislation requiring the collection of zakat from companies and the wealthy. A draft law requiring Islamic companies to pay up had been frozen.

The Zakat Fund has collected Dh180 million since its inception six years ago, he said. "A media plan is being implemented to increase the fund's annual revenues to more than Dh50m."

Dubai Twestival to mark the spirit of Ramadan

September 08, 2009

By Vigyan Arya, Emurates Business 24-7 

Prompted by the announcement of Abu Dhabi Twestival, the Dubai chapter promises a bigger and better event than the one held earlier.

The online registration for the event opened yesterday and in the first two hours it had logged in more than 100 volunteers and participants, according to one of the volunteer members of the organising committee.

The Dubai chapter of Twestival Global, which took place in February this year, was "one of the most successful events internationally and was in fact in the top five cities globally in collecting charity", said Prashant K Gulati, one of the volunteer organisers who has been involved in tweeting activities in the region since the very beginning.

Announcing details of the Dubai Twestival Local, he said it will take place on September 12 and participants will converge on The Jam Jar gallery in Al Quoz to meet other members of the Twitter community.

Dubai Twestival Local (@dubaitwestival on Twitter) aims to raise money and awareness for Dubai Autism Center, a non-profit organisation founded in November 2001 to help integrate children with autism into the community and raise social awareness of the condition.

Dubai Twestival organisers are counting on their high-profile list of sponsors to raise funds for the centre.

"We have a Golden Ticket from RTA to auction and until now the bid has already crossed Dh1,000," said Gulati. Other sponsors are Nokia (@nokconv), ShopandShip.com (powered by Aramex, @shopnship) and Nahel.com (@naheldotcom).

"We're delighted to have been able to organise Dubai Twestival Local during the holy month of Ramadan, since giving is at the heart of the Twestival concept and is the reason that the event has received such fantastic support from volunteers and sponsors," said Gulati.

"We're proud to support Dubai Autism Center as awareness of autism and understanding those who suffer from the condition and their families is still very low worldwide. We hope that Twestival will make a worthwhile contribution to autism awareness in the UAE. I have been tweeting since 2007, since the very inception of Twitter. It's not only a means of communicating and staying in touch with other people, but creates international communities."

The UAE's Twitter community has grown rapidly since the service was unblocked by the Telecommunications Regulatory Authority last year and currently an estimated 6,000 people use the service in the country, up from just 500 users at the time of the first Dubai Twestival in February. Global usage of Twitter grew by 1,460 per cent over the past year and the micro-blogging platform now boasts 44.5 million users (according to Comscore, June 2009).

"Events such as the Twestival cement the bonding among the tweeting community and bring them together on a productive platform," said Gulati. "We hope that Twestival Local will build on the great success of February's Twestival Global event that helped both raise awareness of Twitter in the UAE and for charity: water."

Based around the social media service Twitter, Twestival links the UAE with an international community using one of the fastest growing innovations in new media. Twitter is the online service that allows people to share short messages under 140 characters.

Twestivals are being organised around the Middle East in Abu Dhabi, Amman, Doha and Beirut.

Dubai's export volume to Africa up 30%

September 08, 2009

By Shashank Shekhar, Emirates Business 24-7

Shipping volumes from Dubai to various countries in Africa have risen by 30 per cent in the past two months, a senior official from a company that ships commodities from the Middle East to Africa said yesterday.

"Supported by pre Ramadan buying, the exports from Dubai and other ports in the Middle East to Africa have risen by about 30 percent in the past two months," a senior executive of PIL (UAE) told Emirates Business on condition of anonymity. The commodities exported comprise dates and other edible items.

"It's the food items that have contributed to the rise in export volumes. Volumes of cars being exported to countries in the continent has subsided on the other hand," the executive said, without providing figures.

Dubai is a major exporter of second hand cars to countries in Africa.

The volumes are expected to be subjected to correction after Ramadan. "We expect a slight correction in volumes," said the executive.

Goods exported from Africa to destinations in the Middle East, however, remain abysmally low. Even tea exports from Africa to the Middle East are low now. While some of the countries in the dark continent such as Angola and Nigeria export oil, almost all countries are major importers and import everything from agricultural products to machines and drugs.

Freight rates, however, remain low. This comes as a result of emergence of new capacity that was ordered two years earlier. Identifying the abysmally low freight rates is the primary challenge that the shipping sector is facing today. Top Dubai-based officials from other shipping firms recently said these rates must rise by $2,000 (Dh7,340) container for the shipping companies to sustain.

Freight rates dropped by close to 50 per cent from a peak in July 2008 (when rates were propelled by the high fuel prices) to January 2009. They remain low even though signs of economic recovery have now begun to emerge globally. "Low freight rates remain our main challenge," Robbert van Trooijen, the Dubai based Chief Executive of Maersk West and Central Asia recently told this paper.

Food prices see marginal drop

September 07, 2009

By Staff Writer, Emirates Business 24-7

The second week of Ramadan has seen a fall in prices of food items, according to an analysis by the Statistics Centre – Abu Dhabi.

The report is a follow up to a series of reports issued recently by the centre in an effort to monitor the movement of food prices during Ramadan in the interest of the consumer and the community at large.

In this context, the report's findings revealed a fall of 0.60 per cent in the prices of food commodities during the second week of Ramadan, compared to the first week of the month.

This was the result of a drop in the prices of certain items in various sub-groups. For instance, the prices of bread and cereals edged down by 0.17 per cent, fish and seafood by 5.05per cent, pulses by 2.42 per cent, and sugar, jam, honey, chocolate and confectionery by 0.24 per cent, coffee, tea and cocoa by 0.52per cent.

On the other hand, the price of meat rose 0.24 per cent, milk, cheese and eggs 0.35 per cent, oils and fats 0.01 per cent, fruits 0.67 per cent and other items by 0.02 per cent, while the prices of mineral water, soft drinks and various types of fruit juices were generally stable.

The report revealed a drop of 0.21 per cent in the prices of foodstuffs during the second week of Ramadan compared to the week preceding Ramadan.

This resulted from a fall in the prices of various items by different percentages. The prices of fish and seafood declined by 5.31 per cent, fruits by 1.31 per cent, pulses by 0.40 per cent, and coffee, tea and cocoa by 0.42 per cent.

Meanwhile, over the same period, there was a surge in the prices of some other consumer goods, including the prices of bread and cereals by 1.34 per cent, meat by 0.03 per cent, milk, cheese and eggs 0.33 per cent, oils and fat 1.64 per cent sugar, jam, honey, chocolate and confectionery 1.28 per cent, mineral water, soft drinks and fruit juices of various types by 0.35 per cent and other food products by 1.22 per cent.

Analysis also indicated a decline of 0.41 per cent in food prices during the second week of Ramadan, compared to the price levels of last July.