Tag Archives: tsi
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
Your smartphones now as Nol cards
Your smartphones now as Nol cards Amanda Fisher / 28 September 2013 By tomorrow, millions of Dubai’s public transport users will be able to pay for their trips simply by using their smartphones — but not if you have an iPhone. The Roads and Transport Authority (RTA) announced the launch of its ‘Smart Nol’ service on Friday, a tie-up with etisalat and du that will also enable users to top up their Nol credit and check their balance. RTA Corporate Technical Support Services CEO Abdulla Ali Al Madani said the mobile system only worked on phones with Near Field Communication (NFC) technology — but should be able to be used for other small payments in the future. “We are providing this service for NFC-enabled mobile phone users via a special SIM card to use Nol services for public transport and in future for micropayments in (the) UAE. Customers will have a similar experience to Nol cards and there is no major change in using it. Currently we have more than six million Nol cards and we are expecting good (adoption) from our customer base since (the) UAE has a good number of NFC-enabled handsets.” The NFC is similar to bluetooth technology — though more streamlined. The Smart Nol will work by users placing their smart phones against the card readers at metro station gates or onboard buses and water buses. The SIM cards will be available at etisalat and Du business centres from tomorrow. Etisalat chief marketing officer Khaled El Khouly said in a statement the new technology would revolutionise travel. “The launch of the latest NFC technology solution will be the beginning of a new era on how we empower our customers, as well as service providers in the country.” Du chief commercial officer Fahad Al Hassawi said Du’s role went beyond providing telecom services but “to be a catalyst for society’s advancement”, in line with the Smart Government initiative. Jacky’s Electronics chief operating officer Ashish Panjabi said NFC technology was simpler to use than bluetooth and allowed information to be transmitted simply by tapping two devices together. “The issue is at the moment not everything is NFC-enabled…if you look at Apple, it’s got nothing NFC-enabled. With every new iPhone launch, we’re wondering whether it will be equipped with NFC, but I don’t think it will happen. I don’t think it’s something they believe in.” Apple was such a “significant player in the market” which compromised the chances NFC technology would become commonplace. More than 65 per cent of bus users in Sweden already use their mobile phones to pay for public transport, but there are other forms of technology than NFC such as the mobile barcode, which requires people to purchase barcodes which are sent to their phones, and the Google Wallet ‘tap-and-pay’ system already being used to pay for public transport in parts of America. Local company Beam are trialing a payment system using a mobile app which stores credit card details. Panjabi said the pitfalls of the NFC system were that many parties were required to cooperate, including the credit card companies, local banks, telecommunication companies and merchants. Apple may have “something up their sleeve”, such as plans to create their own mobile payment system. “Apple has got the largest repository of credit card data because hundreds of millions of people who have signed up with Apple have given credit card details, whether it be for music or games or devices…you would think (payment) would be something they could control and dominate through that material.” However, he said most people who had purchased a mainstream smartphone such as Samsung, LG or BlackBerry in the past two years would likely have the technology. The RTA advised people to check with their mobile phone providers about whether their phones were compatible. British consulting firm Juniper Research recently predicted mobile ticketing across all forms of transit would triple in the next five years, led by public transport — though it also said in markets where the iPhone was popular, such as North America and Western Europe, NFC technology would probably not take off. Panjabi said there was “no limit” of where cellphones would go next. “We’re looking now at the next step, which is wearable technology…we’ve seen the smart watch, Google Glass…that may eliminate cell phones one day.” – amanda@khaleejtimes.com 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
