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The world’s most expensive coffee beans
The world’s most expensive coffee beans Amanda Fisher (amanda@khaleejtimes.com) / 30 September 2013 With heart disease accounting for almost a third of all deaths in the country, a frappucino with more than a quarter fewer calories could be in order. Just days after World Heart Day, which fell on Sunday, coffee franchise Icons will launch in Dubai next week, with big plans to expand throughout the country and region — and fast. The founder and CEO Elena Weber, who at 27 may be one of the youngest such title holders in the world, is positioning the latest coffee shop cartel, which is already worth about Dh5 million, as a ‘healthy Starbucks’. “It’s a big thing, especially here in the region because of the diabetes issue, so we hope we can make a healthy change … it’s so surprising when you see even children here are getting diabetes…. I wanted to open the first outlet in Germany, but because (my backers) only do big things, they said ‘It’s perfect for the situation here’.” While obesity and diabetes were a global epidemic, Weber said because GCC rates were rising significantly there was room for the business to grow rapidly. Diabetes, which at $6.6 billion accounts for 40 per cent of the country’s overall health bill, links directly to heart disease. Weber got German pastry chef Stefan Kopetz, who has worked with the German national football team and supermodel Heidi Klum, on board early to create cakes and pastries from mother nature’s sugar, calorie-free stevia – also the super ingredient used in sweetening the shop’s coffees and drinks. “It took us a whole six months, but it’s not easy to bake with stevia. Because it’s 300 times sweeter than sugar, you need to (supplement) it with some bulkier materials.” They will also serve low-fat sandwiches and salads, using products that are organic and fairly traded where possible. However, prices would be comparable to Starbucks, Weber said. The coffee shop had frappuccinos with just 150 calories, compared with Starbucks’ 750, and hot chocolates with 120 calories, compared to 500, she said. “You will not taste any difference, it’s just as sweet … with normal sweeteners, they are so unhealthy, they’re full of chemicals … it’s totally unhealthy, it has bad effects on your bones, it has bad effects on your health in the long term. You don’t feel it tomorrow, but consumption over the years has really bad effects.” Weber said she and her team had spent about two years priming Icons for a fast uptake, and already had 10 franchises set to launch next year, with hopes to expand internationally within the same timeframe. But the operation had humble origins, with a twist of fate when the part-time model was looking for an overseas internship during her business administration and marketing degree at university in hometown Munich. Her mum found a story about another young German model working in the UAE, while looking at a magazine featuring her daughter. “I just had this intuition and contacted her and what happened? One week later I was in Dubai.” Weber found herself working under major UAE investment company Orix, where she made good contacts who she turned to years later after conceiving the coffee shop idea while doing a volunteering stint in Argentina, where she discovered stevia. “I think you always have to give back to people, and things happen for a reason. We support education and the farms where we are growing (coffee beans). We want to do something good for people, not only with the products we have that are sugar free, but…we also want to enhance life around here.” The flagship Icons store will open at the Souk Al Bahar on October 7. Continue reading
UAE, Mexico to sign treaty on protecting investments
UAE, Mexico to sign treaty on protecting investments (Wam) / 28 September 2013 Foreign Minister Shaikh Abdullah bin Zayed Al Nahyan continued meeting with his counterparts from other countries taking part in the 68th session of the United Nations’ General Assembly. Shaikh Abdullah met Mexican Foreign Minister Jose Antonio Meade; Singaporean Foreign Minister K. Shanmugam; Kazakh counterpart Erlan Idrissov; South Korean minister Yun Byung-se; and Colombian minister Maria Angela Holguin. Shaikh Abdullah bin Zayed, other GCC foreign ministers, US Secretary of State John Kerry and US Secretary of Defence Chuck Hagel during the third ministerial meeting of the US-GCC Strategic Cooperation Forum in New York on Thursday. The two sides reached a consensus on ways to bolster stability and security throughout the Middle East and deepen the close relations. The GCC ministers condemned the horrific chemical weapons attack in Syrian on August 21. — Wam He discussed with them the UAE’s relations with their respective countries, ways to strengthen them and the regional and international issues. He and the Mexican minister agreed to sign an agreement to encourage protection of investments between the two countries. With Shanmugam, he discussed the positions of the two countries regarding the political issues of mutual interest, including the Syrian standoff, Palestinian issue and developments in Egypt. He and South Korean minister also discussed the ways to activate the strategic economic, investment, scientific and technological partnerships between the two countries, including the exchange of expertise in the areas of renewable energy, trade and medicine. The UAE Foreign Minister thanked Ambassador Nusseibeh, on behalf of the members of the mission, for their strenuous efforts to strengthen the role of the UAE in the UN. Shaikh Abdullah also held talks with the President of Mongolia, Tsakhiagiin Elbegdorj, at the UN. During the meeting, Shaikh Abdullah conveyed the regards of the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, to Elbegdorj and his wishes to the Mongolian leadership and people. On his part, President Elbegdorj asked Shaikh Abdullah to convey his regards to the UAE President. He stressed the interest of his country in strengthening the bilateral relations in all fields. Shaikh Abdullah visited the residence of the UAE Permanent Mission to the UN in New York. He was received by UAE Permanent Representative to the UN Lana Zaki Nusseibeh, members of the UAE diplomatic corps to the UN and the UAE delegation members and local staff at the mission. Continue reading
Dubai acts to curb property speculation
Dubai acts to curb property speculation Issac John / 27 September 2013 The Dubai Land Department on Thursday said it would be doubling registration fee for real estate transactions to four per cent of the sale price from two per cent, effective October 6. Sultan Butti bin Mejren, Director-General of the Land Department, said the hiked fee structure, charged equally to the buyer and seller of a property, was aimed at discouraging excessive speculation in the property market, which has seen a major pick-up over the past few months by recording a big surge in transactions, prices and rentals. So far this year, real estate transactions in Dubai’s resurgent market totalled Dh162 billion, up from Dh90 billion in the same period a year earlier. Mejren said the new registration fees covers all types of property transactions in Dubai except for the industrial sector, including warehouses. Quick and fair solutions to rent disputes Speaking to reporters at his office, Mejren said the move would have a positive impact on the market as it would help curb property flipping (buying and selling properties in quick succession to make profits) and protect the market. Under the new rule, the registration fee will be split two per cent each between the buyer and seller, he said. Justifying the fee hike, Mejren said around 110 countries in the world are charging higher property registration fees than Dubai. In the UK, the fee is 4-10 per cent, France eight per cent and India 7.3 per cent. Ruling out any negative impact of the fee hike on the market as some analysts feared, Mejren said it would, on the other hand, help stabilise the property market that has achieved maturity. On concerns expressed by the International Monetary Fund (IMF) about the danger of another property bubble under way in Dubai, the Land Department chief said there are no indications of such an overheating in the market. Clearing the air on all your questions In a report, the IMF warned in July that Dubai authorities might need to intervene in the emirate’s property market to prevent excessive price rises. “Dubai has emerged as global city with a strong economic growth record. The city’s property market is mature and based on real demand. The market is stable and is very active. We believe that prices in Dubai are not higher than other top cities around the world,” said Mejren. He said the IMF warning came in line with Land Department’s findings. “We believe that increasing the fees will limit speculation and protect the market from a bubble. We decided to increase these fees before they even recommended it.” Mejren said the department took almost three months to finalise new fee structure after consultations with all stakeholders. Dubai has recorded 18.3 per cent surge in luxury home prices to rank among the top four in “Prime Global Cities Index” as prime property prices across the world fell by 0.4 per cent in the first quarter 2013. Prime residential prices in Dubai, which started to rise in early 2012, a movement partly instigated by regional troubles, recorded a double-digit surge in 2013, with the price of luxury villas increasing by 11.4 per cent and that of prime apartments by 15.1 per cent in value, Knight Frank, a leading independent global property consultancy said in a research note. According to ratings agency Fitch Ratings, the prime property sector in Dubai is poised for a strong 2014 following a vibrant 2013. -issacjohn@khaleejtimes.com Continue reading