Posted by grapeshisha at 9:19 AM
The Government of Dubai is planning to launch the world's biggest e-statistics project, in an effort to centralise the flow of information in the Dubai economy, reported a local daily on Monday.
"Following its launch, the project will provide comprehensive, unified and precise data at Dubai level," said Al Muheiri, director of the Data Center in Dubai municipality. "Subscribers will have access to this system through the internet." The number of parties who have joined the Central Data System's statistics in Dubai has increased to 20, following the addition of six new parties, which are concerned with issuing data for the economic sector in Dubai.
Certainly doesn't sound that big to me. Grapeshisha gives the world's biggest eyebrow raise in astonishment. No doubt there are lies told about their tools are as well. Remind's me of the "Goodness Gracious Me" skit about the mothers discussing their sons' "dundas".
Posted by grapeshisha at 9:10 AM
1. Monstergulf.com from monster.com launched this week
2. Imprint says buys UAE recruitment firm Ingram for up to GBP 5m (finally!)
3. Naukrigulf.com launches Resume Database Access
All these are significant stories in their own right: Monster entering the market through its sheer power of brand recogntion; Imprint buying into Dubai, and gbp5m is not small cheese; and Naukri has stepped up its Mena game. All three of these companies can't be wrong. There is a big search for talent, and it begins right now.
Posted by grapeshisha at 9:00 AM
UAE to UK (Dubai sends 65%)
No doubt the increased focus on the UAE as a key market for the UK will focus on Abu Dhabi.
Posted by grapeshisha at 6:55 PM
Posted by grapeshisha at 6:51 PM
"I suspected the people would be as I see them on TV - aggressive, angry," Atoom Al-Khatiry said. Instead, "The people were really friendly, very helpful and 360 degrees from the concept people have. It was amazing."
Posted by grapeshisha at 6:48 PM
In February this year, the groundwork officially started for the new Snowdome at Dubailand. It will be the first comprehensive snow resort in Dubai on a par with the leading international ski resorts — but better.
The ski resort in Dubai will boast real live penguins.
The Snowdome consists of hotels and lodging, a leisure winter wonderland with all the adventure attractions of a snow and ice leisure park a skating arena, toboggan run and much more. The 32Group hopes the project will be completed by the end of 2008. It is hoped this will attract visitors who would normally travel overseas during the summer to escape the Middle Eastern heat.
Penguins - now Dubai is getting ridiculous!
Posted by grapeshisha at 6:41 PM
Posted by grapeshisha at 6:32 PM
- The island's construction has not all been smooth, and most buyers were supposed to get keys to their island homes a year ago.
- Some of the new land sank and Nakheel needed an extra year to add more and pack it with vibrating land compactors.
- Reports from those who have wandered through the island's giant homes describe them as cheaply finished and set uncomfortably close to one another.
- Nakheel rejected an Associated Press request to visit the island.
- Overburdened roads in Dubai's Jumeirah Beach neighborhood are expected to clog further as people begin moving onto the island, accessible, for now, by a single bridge. Mainlanders have already put up with years of road works and innumerable trucks hauling boulders to the island.
- Those moving onto the Palm Jumeirah this year will have to live with construction for another three years, and then an influx of tourists.
- The World's sales trouble stems from simple economics: Nakheel is selling empty islands for tens of millions of dollars only to builders promising low-density luxury.
- Also nearing completion are 2,650 apartments in 20 high-rises that have sprung up on the island's trunk. The hulking complexes are visible from shore, where the sprawling island, with its dredges, highway overpasses and construction cranes has become a major eyesore for resort hotels on Dubai's once idyllic natural beaches.
We are reaching a crucial date. The World [sic] will either love it or hate it, and much of the fortunes of the Dubai's property market will depend on what the perception of it is. No doubt it will bring in the tourists, but will the people living there take to being in the goldfish bowl? And while most of the Palm Jumeirah residences won't really affect the the demand/supply conundrum, simply due to price, it could result in the later chain buyers losing out on a bit of cash. Let's see how this unfolds.
Posted by grapeshisha at 2:48 AM
Abu Dhabi bourse to allow foreigners to trade
Posted by grapeshisha at 4:45 PM
Posted by grapeshisha at 7:47 AM
Posted by grapeshisha at 2:31 AM
Monday is going to be special.
Posted by grapeshisha at 10:47 PM
Dubai Financial of the Thomas Cook Brand Licence. (Smart move in a market with a no real brand leader)
Posted by grapeshisha at 9:49 AM
Posted by grapeshisha at 9:34 AM
1 the rising cost of Energy
2 the Experimental monetary system
3 where are we in the Economic cycle?
4 the Exodus of money from West to East
5 the decline of the American Empire
What is the biggest threat to the global economy?
1 rising price of oil
2 escalating geopolitical tensions
3 interest rate hikes
4 the end may be In sight
Posted by grapeshisha at 12:31 PM
"As regards to Abu Dhabi's property market, we are expecting rents and prices to increase further, as there is a supply shortage there, and the gap between supply and the rising demand is not expected to be bridged soon. Accordingly, the overall inflation rate is not expected to change as the developments in Dubai are expected to be offset by these in Abu Dhabi."
Abu Dhabi is already feeling the pinch, and that will get to Dubai Standards next year, as the capital struggles to provide the quick win projects but continues to bask in the super projects of a few years to come.
Posted by grapeshisha at 5:05 PM
According to these new findings, the current population of the UAE is 3,769,080 which represents a population growth rate of 74.8% from the last census carried out in 1995. However, this does not take account of non-nationals who were not present during the census fieldwork period and those with invalid residency visas. This number is estimated to be 335,615 providing an overall population figure for the UAE, excluding visitors, of 4,104,695. The largest emirate by population is Abu Dhabi with 1,292,119 people.
Some points of note
1.Those not present and those with invalid residency visas were nearly 8% of the 4.1 milion. I suspect that number is actually larger.
2. "Based on the census data 38.1% of the nationals are less than 14 years old. Nationals less than 20 years old are 51.1%." With the total number of nationals is 824,921, and with a crude estimate, you have 18,000 UAE Nationals joining the job maket, annually. The Emiratisation people must take note!
3. The UAE National Guys to Gals ratio is almost 50:50. No excuse to marry a foreigner then!
4. The Locals to Expats ratio is 1 in 5. If you exclude blue collar workers, that would probably be about 1 in 8. That would be a good number for a minimum emiratisation rate.
5. "The census also does not cover visitors and members of the households that refused to cooperate or were not available in the UAE during the census period."....or were too scared to answer the door to complete strangers.
6. The total male to female ration is roughly 7 to 3. That's the reason why there are a lot of oglers in the mall.
Posted by grapeshisha at 9:31 PM
Oxford Business Group (OBG), the UK-based publishing, research and consultancy services company and the name behind the authoritative Emerging Markets economic, political and business annuals, has appointed Tatjana Marinko as its Abu Dhabi Country Director.
This takes Emiratisation in another direction!
Posted by grapeshisha at 4:36 PM
Gulf News enjoys a substantial lead over its rivals with more than 50% of overall readership in the non-Arab expat category, followed by Khaleej Times (29%), Emirates Today (5.5%), 7Days (4.4%) and the Keralan newspaper Malayalam Manorama (4.3%).
In probably an immature market, there two clear leaders as far as the English speaking papers go. Of course, this doesn't take into consideration the online medium, but I think that seriousness of Gulf News would win through. The question that is asked is whether the newer papers can steal turf over the old guard. Emirates Today, will probably gain market share, and with a new editor-in-chief coming into 7days, who will take whose market share? The Arabian Business Standard has unoffically been delayed again, from what I am hearing, but that will be an interesting conundrum. With long term existence from the Arabic Ittihad and new school understanding from ITP, will the Arabian Business Standard, take market share from Gulf News and Khaleej Times. That's when we will start to get real niche's as the papers start to differentiate themselves into more clear market segments. Hey, and maybe the quality will improve also.
Posted by grapeshisha at 4:21 PM
Washington post: Is there an Oil Bubble
Posted by grapeshisha at 12:01 PM
"Market commentators still seem to view the prospect of $100-a-barrel oil as shocking," he says in a research note. The options market is reflecting a more blase attitude to this risk; $125 oil is the new target for bullish trades."
But with Angola and Azerbaijan looking to increase their production over the medium term, there should be some longer term stability that is not fully dependant on the Middle East, although the Middle East will always play a big part in the "oil game".
Posted by grapeshisha at 1:22 AM
Posted by grapeshisha at 11:43 PM
When his father is arrested in Dubai, Kareem has to move fast. He must show that his father is not a thief – and prove that his family is honest. For Kareem is going to marry the beautiful and intelligent Samira Al-Hussain, and she could never marry someone from a bad family.
So Kareem and his brother get to work quickly – with a little help from Samira.
If anyone has read it, let me know what it is like. Maybe Dallas Austin was reading the book on the plane in to Dubai.
Posted by grapeshisha at 6:00 PM
Posted by grapeshisha at 5:55 PM
...the “state of play” of a country’s information and communications technology (ICT)infrastructure and the ability of its consumers, businesses and governments to use ICT to their benefit. When a country does more online—or, as is increasingly the case, wirelessly—the premise is that its economy can become a more transparent and efficient one. Our ranking allows governments to gauge the success of
their technology initiatives against those of other countries. It also provides companies that wish to invest in online operations with an overview of the world’s most promising investment locations.
The e-readiness rankings are a weighted collection of nearly 100 quantitative and qualitative criteria, organised into six distinct categories measuring the various components of a country’s social, political, economic and of course technological development. The underlying principle behind the rankings is that digital business is at its heart business, and that for digital transactions to be widely adopted and efficient they have to thrive in a holistically supportive environment. E-readiness is not simply a matter of the number of computers, broadband connections and mobile phones in the country (although these naturally form a core component of the rankings); it also depends on such things as citizens’ ability to utilise technology skillfully, the transparency of the business and legal systems, and the extent to which governments encourage the use of digital technologies.
To end consumers, who face conflict with Etisalat regarding pay mechanisms, service provision, blanket banning of sites such as flickr, youtube, myspace and the like, this ranking doesn't appear to be make sense. But, looking at it from a broader sense, things are starting to come together in the e-economy. Of course there is a long way to go, but this ranking probably fits about right. What is sad is that the UAE could be even higher, but was hindered due to a relatively low score in connectivity rather than factors concerning infrastructure. What this means is that access and affordabilty are low scoring. It also takes into consideration Voip, which is currently not allowed in the country. Some would say that the weighting is skewed because of the high score that the UAE received in business environment, but in totality, the core accurately places the UAE,especially is you look at those placed close to it.
The other report worth looking at is the one released by Madar Research (free sign up required to obtain the full 116 page report). The report, entitled United Arab Emirates Knowledge Economy 2006, provides an overview of the UAE and the separate emirates, in relation to institutional, infrastructural and human resources components of a knowledge economy. There is also a "roadmap" recommendation that the UAE is likely to take to position the country amongst other global players.
The report is actually very well written, and puts ICT in context amongst all the major factors in the economy and in comparison to the region. The precursor concerning the UAE context is succinct and to the point and provides an excellent overview to anyone wanting a snapshot of the country, talking of the general themes of economic diversification, construction, budgets, free trade and the like. And while the bulk of the report centers on the knowledge economy, it is worth a look. The reason why I believe it to be good is that it sticts to the facts, and doesn't really look to have an agenda, apart from providing good quality research. And, in places, it is critical where it needs to be, from a point of pointing out discrepancies where the UAE could do better. Despite all this positive gusto, this report demonstrates very clearly that there is a growing divide between the two powerhouse emirates of Abu Dhabi and Dubai with the others. However, if you have a few minutes to spare, this is a worthwhile read, especially for the information junkies, like myself.
Posted by grapeshisha at 5:26 PM
Click here to view the interactive version of the diagram below:
Posted by grapeshisha at 1:46 AM
I don't know who Prime Research are, but they have published some interesting numbers on residential unit completion:
2006 - 40,000
2007 - 52,000 (65,000)
2008 - 63,000 (66,000)
In isolation you would be forgiven if this doesn't mean anything to you. But let's thrown in this paragraph from menareport:
Prime Research's base case demand and supply forecasts imply a shortage of c.a. 12,000 residential units in 2006, followed by a supply excess of c.a. 6,000 and 33,000 units in 2007 and 2008 respectively. Rents and prices are thus expected to follow an upward trajectory in 2006. The marginal imbalance foreseen in 2007 leads us to believe that the general perception of a severe correction in the medium term is incorrect. Adjustments in prices are likely to vary from segment to segment, with a continued shortage in villas and medium to low end apartments expected to support prices in these sectors. Within the high end apartments segment, fundamentals, such as location and quality, are expected to determine the extent, if any, of correction. Rents, on the other hand, are more likely to witness a downward adjustment as a result of increased vacancy and greater acceptance of mortgage finance.
What does this mean? Crucially, if the numbers are to believed, and in my opinion, they look reasonable, supply is beginning to meet demand. With further completions due in future years, this should mean that rents and prices should stablise. Your landlord wont be able to charge you the excessive rents of recent years. Well maybe he will, but they are unlikely to increase in the same way as they have over the previous years. For the average Joe, this is good news as if your rent is too high, you will move elsewhere. This is all well and good, but is it too late?
Posted by grapeshisha at 1:14 PM
What this means is that the Arab states will team together with the Lebanese, to create a booming city and country, that will finally reach that status that it deserves. Personally, Lebanon, to me, was one of those places which should have attracted more tourist interest, and given 5 years or so, it will attract a heavy influx of foreigners.
Remember Libya? The tourists are now starting to seek out places that were once considered no-gos. Beirut, which in recent years, was known as the party capital of the Middle East, will, one day, be that again.
In the meantime, some sort of ceasefire must be reached, whether that is tomorrow, or in weeks to come. After that, expect a time of consolidation, some diplomacy, and then for the rebuilding to start. Companies from the UAE, I have no doubt will be first in to invest. Emaar is perfectly placed as are some of the hotel chains.
And one day, Lebanon, will be all that it was, and more.
Posted by grapeshisha at 5:49 PM
Yet the issue still remains unclear. What exactly is freehold? And how does freehold differ from oter markets? And what about Dubai Marina and Emirates Hills? So many questions. And so few qualified responses.
Posted by grapeshisha at 1:24 AM
There is mention of the free zones again, with the benefit of 100% ownership, tax free status etc. What I am hearing these days is that the freezones are too expensive for the smaller company, and that now, if they don't discount the UAE altogether, they look to operate out of the freezones, unless the have managed to weave through the loopholes of getting the RAK freezone licence, and operating from Dubai. Now that's a commercial contact worth considering!
Download the full report from the World Bank (PDF)
Posted by grapeshisha at 1:08 AM
Beware! This Number two does not have an eye patch.
Full story here.
Posted by grapeshisha at 12:55 AM
Indeed, he brings an interesting point. We talk of growth, but no naion has seen that kind of transformation, ever. From nothing, to world beating buildings and tourism, and an economy make up that is envied all over. No country can claim that type of transformation change.
And so, it is good news that you won't have the uncivilised big ban stamp across your passport, unless you are a proper criminal, of course.
Posted by grapeshisha at 12:40 AM
There is specualtion that it means hectare. Whatever it is, it's a lot of money to be spending. My take is that it is part of Abu Dhabi Tourism Authority's new way off attracting holiday makers. "HA...you've gone too far away from Dubai. Now you are in Abu Dhabi...and there's no going back!" Cue laughter from Doctor Evil.
Full source from Google Sightseeing
Posted by grapeshisha at 12:24 AM
I don't wish to generalise on the issue, as the situation is as complex as one could imagine, with egos taking prominence over negotiations, but taken simply, the Lebanese people are the ones that have been attacked over this matter. Not putting a price on lives, but the Israelis and Hezbollah have together lost less lives that the Lebnese civilians. What I do welcome is the news from the UN that these acts can be considered as war crimes. A long time coming, I would say.
I leave you with a quote from Louise Arbor, UN High Commissioner for Human Rights:
Indiscriminate shelling of cities constitutes a foreseeable and unacceptable targeting of civilians... Similarly, the bombardment of sites with alleged military significance, but resulting invariably in the killing of innocent civilians, is unjustifiable
When did the humans forget about humanity?
Posted by grapeshisha at 9:13 PM
Dubai Life Issue 2 - worth a moment of your time.
Posted by grapeshisha at 6:30 PM
"The U.A.E.’s economic statistics suffer from numerous structural weaknesses. Data shortcomings continue to impose serious constraints on economic monitoring, analysis, and policy formulation for both the authorities and staff."
I do think that transparency and accuracy are areas where the UAE could improve to assist those looking to invest and help the UAE reach its ambitions.
There's no need to summarise the points. You're either interested in the report, in which case read the whole thing, or you're not.
Staff Report for the 2006 Article IV Consultation
United Arab Emirates: Statistical Appendix
Posted by grapeshisha at 2:41 AM
Posted by grapeshisha at 2:28 AM
See all the pictures from Theme Park Review
Posted by grapeshisha at 10:36 PM
Posted by grapeshisha at 12:40 PM
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