Tag Archives: opinion
UAE, Russia in $5 billion investment deal
UAE, Russia in $5 billion investment deal (Wam) / 13 September 2013 The UAE on Thursday signed an accord to invest five billion dollars in Russian infrastructure projects. Gen. Shaikh Mohammed shakes hands with Russian President Vladimir Putin during their meeting at the Novo-Ogaryovo state residence, outside Moscow, on Thursday. — Wam A memorandum of intent to establish a partnership between the Department of Finance (DoF) in Abu Dhabi and the Russian Direct Investment Fund (RDIF) for investment in Russian infrastructure projects was signed at the Kremlin on the sidelines of a meeting between General Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Russian President Vladimir Putin. Gen Shaikh Mohammed and Putin discussed bilateral relations, expansion and diversification of economic partnerships and investment opportunities. The discussions took place as Putin received Gen Shaikh Mohammed at Novo-Ogaryovo, the state residence of the Russian President. Putin welcomed the UAE leader and expressed his pleasure at meeting him and discussing matters of common interest. Gen Shaikh Mohammed conveyed to Putin greetings from the UAE President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, and his best wishes for further progress and prosperity for the people of Russia. The meeting, which was attended by Foreign Minister Shaikh Abdullah bin Zayed Al Nahyan, also discussed developments in the Arab Gulf region and the Middle East. Following the meeting, Putin held a lunch banquet in honour of Gen Shaikh Mohammed and his accompanying delegation. The investment accord was signed by Hamad Mohammed Al Hur Al Suwaidi, chairman of the Abu Dhabi Finance Department, and RDIF chief executive Kirill Dmitriev. Speaking on the occasion, Al Suwaidi said: “The signing of the memorandum and our commitment to an investment of up to five billion dollars reflect our confidence of returns that can be derived from this investment. We expect a very fruitful partnership through the exchange of expertise with the RDIF.” The investment project aims to open new avenues for joint cooperation that would contribute to the strengthening of bilateral relations. The structure and governance of the joint project and other conditions will be concluded before the end of the year. Continue reading
UAE a popular migrant destination: UN report
UAE a popular migrant destination: UN report Staff Reporter / 13 September 2013 The United Arab Emirates and United Kingdom have something in common. Both countries accommodate 7.8 million migrants each, according to a UN report that was released on Wednesday. Delegates all ears at the the Global Citizen Forum in Dubai on Thursday. — KT photo by Shihab The report supported the fact that more people than ever are living away from their native land. It also stated that the Gulf oil states are perceived as one of the most attractive spots to migrate to. Coinciding with the release of this report, at the Global Citizen Forum in Dubai, 150 key industry professionals and delegates addressed issues on immigration and global citizenship. Joseph Ghossoub, CEO, Menacom Group, spoke at the forum on why, he, the 25th most powerful Arab, needed a second citizenship. Ghossoub said global citizenship here in the UAE improved his life and helped him to excel in his business. “Regardless of how influential you are in the world, we all have to abide by the rules,” he said. Shweta Iyer Bhatnagar, a 32-year-old employee of a PR company, said she moved to Dubai from Chennai four years ago “to escape to a safe place where the family is less interfering”. Sukhmani said work was monotnous back home and her family was pressuring her to get married, but she wanted to move away. “I craved independence — Dubai and the UAE is so safe for women, but also I wanted to earn so the tax-free life is the real lure.” Now, at a self-confessed “better place in her life”, Sukhmani said she has managed to save enough to deposit a downpayment for a 2-BHK flat in India. Having got married last year, her five-year plan is to raise a child here and “eventually, yes, go back home”. Vergie Castillo, a 43-year old mother of four, said she came to Dubai 12 years ago for “opportunities for my children”. Vergie works in a hair-dressing saloon. On her days off, she does the housework in two apartments to earn more money. As a widow and sole provider for her children, she feels she doesn’t have the option to go back home. Once a year, in November, she goes to the Philippines. What keeps her going is that all four of her children have been provided for. She is waiting for her eldest, her son is 18, to start earning after college, and then she might quit one of her jobs here. The UN report said nearly two-thirds of all international migrants live in Europe and Asia, with Europe hosting 72 million and Asia 71 million in 2013. In what is no surprise, the United States came out as the host of the largest number, 45.8 million, and it gained the largest number of international migrants between 1990 and 2013 — nearly 23 million, which is equal to one million additional migrants per year. Russia was second with 11 million international migrants, followed by Germany with 9.8 million, Saudi Arabia with 9.1 million, the UAE and the UK with 7.8 million, France with 7.4 million, Canada with 7.3 million, and Australia and Spain with 6.5 million, it said. news@khaleejtimes.com Continue reading
Ferrari World to stay open whole week
Ferrari World to stay open whole week Staff Reporter / 13 September 2013 Adrenaline junkies can get their speed fix every day as Ferrari World Abu Dhabi moves to a seven-day operational week starting September 30. The move will see the world’s largest indoor and only Ferrari-branded theme park open all week long, including Mondays when the Park normally closes to the public. “Our move to a 365-days-a-year operation was prompted by the growing entertainment demand on Yas Island, which is now firmly established as a regional leisure destination,” said Mike Oswald, general manager, Ferrari World Abu Dhabi. “We opened on several Mondays in the past to meet the high demand during major holiday seasons and the response from visitors and travel partners was very positive. The seven-day operation also fits perfectly with the continuous entertainment offering available on Yas Island through other key attractions such as Yas Waterworld.” Ferrari World Abu Dhabi is a signature attraction of Yas Island and one of the most iconic structures within a highly concentrated entertainment offering which includes another mega theme park, Yas Waterworld Abu Dhabi, a wide range of excellent hotels, a world-class golf course, a Formula 1 racing circuit and a concert arena hosting world-class musical events. Guests are sure to have a memorable experience at Ferrari World Abu Dhabi with more than 20 Ferrari-inspired rides and attractions designed for people of all ages to find their drive, test their threshold for thrills and emerge winners. From state-of-the-art multi-sensory attractions such as Viaggio in Italia and Speed of Magic, to truly spine-tingling rides such as Formula Rossa, fun family rides such as Fiorano GT Challenge and Bell’ Italia, and hearty Italian restaurants such as Mamma Rossella, Ferrari World Abu Dhabi has something to thrill everyone. news@khaleejtimes.com Continue reading
