Saturday, March 29, 2008

Dubai carves new cultural landscape

Dubai carves new cultural landscape
by Lynne Roberts on Thursday, 27 March 2008
CULTURAL BRIDGE: The Sheikh Rashid bin Saeed Crossing will provide entry and exit points for the Creek Island on which an opera building will be constructed.A massive cultural project is to transform the banks of Dubai Creek into a ‘living museum,’ with an opera house, galleries, theatres and arts workshops covering over 20 kilometres, it was announced on Wednesday.

‘Khor Dubai,’ a national project to be built by the public and private sectors, will include more than 10 thematic museums, starting with the Messenger Mohammed Museum, and nine public libraries dedicated to poetry, music and literature.

Commencing at Shindagha, Dubai’s oldest neighbourhood at the mouth of Dubai Creek, it will stretch to the commercial district Business Bay, creating “the most comprehensive cultural destination in the world,” according to DIFC governor Omar Bin Sulaiman.

“Khor Dubai will be a unique area that will combine the past and the present to lay down the foundations for the future, merging the cultures of the world with icons of literature, art and creativity,” chairman of the recently established Dubai Culture & Arts Authority Sheikh Majid bin Mohammed bin Rashid Al Maktroum said at the launch.

Tuesday, March 25, 2008

GCC states to invest $120b in power and water sectors

Khaleej Times - 23/03/2008 [-] Text [+]

(MENAFN - Khaleej Times) The Gulf region is seeing an annual average increase in demand for power of around 8 per cent, according to industry experts.

With renewable water availability expected to fall and population rising rapidly, the region's authorities have to continuously increase supplies, said Neil Walker, an energy expert.

"With all the GCC countries requiring significant growth in the power and water sectors, an estimated $120 billion investment is anticipated in the industry over the next 10 years," he said.

The first phase of the GCC interconnection grid is due to come on-line in 2008, providing inter-connected states with the chance to improve the economic and operational efficiency of their local power systems, while strengthening supply reliability and security.

An estimated 8 per cent of all Arab investment will be going into the power sector over the next few years, providing excellent business opportunities across the Gulf region.

With over 120 exhibitors and over 3000 visitors expected from over 50 countries, Power-Gen Middle East will be the most important annual meeting place for international power and water executives from the MENA region.

Monday, March 24, 2008

HSBC Bank predicts a business boom for 2008

HSBC Bank predicts a business boom for 2008
By Mohamed Al Kady on Sunday, March 23 , 2008



The increase in wealth generated by oil and gas revenues in the GCC, especially in the UAE, is creating high growth rates in business opportunities and accordingly creating more potential for commercial banking in the region. Keith Bradley, regional head of commercial and transaction banking at HSBC Bank Middle East, told Emirates Business he expects between 15,000 and 18,000 new businesses to enter the UAE market this year due to the attractive business environment.


What is your outlook for the business environment in the GCC?

The oil and gas wealth, which the region is generating, is being largely reinvested in the GCC, which is fantastic for commercial banking because the wealth is flowing from government institutions and infrastructure programmes into the private sector, offering increasing opportunities for enterpreurers. For example, we have seen an increase in projects launched by nationals and young enterpreurers during the past four years. Young nationals and entrepreneurs are entering the market. We also see foreign investors and multinational businesses coming to the UAE.

What is the relative size of the small and medium enterprises (SMEs) sector in the UAE and the Middle East?

We carried out a study in early 2007 and we estimated there are around 120,000 businesses in the UAE. We estimated that this number has probably increased in 2007 by 15,000 to 18,000. We also expect the number of businesses in the UAE will grow at the same rate in 2008.

HSBC Commercial Banking also conducted surveys of the small business sector in key countries and territories around the globe. In Asia-Pacific, we found businesses are generally optimistic about local economic growth in the first half of 2008. In a similar survey of other markets around the world, UAE respondents indicated a very high level of confidence and 82 per cent, out of 339 respondents, said they expect local economic growth to accelerate in the first half.

Only nine per cent said they expect growth to slow. That confidence is translating into their business strategy as 78 per cent of SMEs in the UAE said they plan to grow their businesses in the first half and 76 per cent said they plan to recruit more staff. And they are also bullish on international trade as 84 per cent said they expect international trade to increase in the first half of 2008.

The confidence in this sector is exciting for HSBC because growth in trade and the diversification of the economy will lead to sustainable growth in the region.

What are the main drivers of growth for UAE businesses?

The business confidence in the UAE market is very high and it is growing. The government created an environment that allows a lot of freedom in terms of business. There are less restrictions and low taxes. Also, energy prices are lower than global rates. We see expansions in the Jebel Ali Free Trade Zone that other countries are copying now.

We also see the establishment of the Dubai International Financial Centre (DIFC), which is turning Dubai into the financial centre of the region. We have seen a lot of global financial institutions, asset management companies and large investment banks coming to the region after the creation of the DIFC. It is now becoming clearer that Dubai will be a major financial hub.

Other factors include the increasing domestic consumption as a percentage of the UAE’s gross domestic product. Look at the increasing number of shopping malls in the country and their high performance. And not only the increasing shopping malls, we have talked with owners of shops inside malls and they said that sales are increasing per square foot.

Despite these developments, the World Bank ranked the UAE 68th for “doing business”. What are your thoughts on that?

The report was surprising because businesses are happy with the environment in the country and global businesses are investing heavily in the UAE. Regarding small businesses, we have seen a significant portion of new businesses are start up entities. However, financial laws can always be improved in any country. One thing I am confident about in the UAE is that the government has taken this report and is reviewing it critically and it will take proper measures.

The government is very conscious about what it needs to do to continue economic progress. It has a fantastic record in taking steps to create infrastructure and a sound business environment. We support a large number of small businesses here and we have a big team to look after small business in the country.

We face some problems but the vast majority of small businesses in the country are doing very well. We are supporting about 15,000 businesses in the UAE and another 15,000 all over the Middle East. The number of small businesses that are being supported by HSBC increased by 40 per cent last year and we expect the same growth in 2008.

What is the impact of changes in global trade corridors from the West to the East?

These changes created new challenges for commercial banking. Historically, banks were not supportive of customers when they changed their operations from one country to another. An estimated 10 per cent to 11 per cent of GCC outward investment is going into Asia and this is expected to grow. HSBC has created centres to finance trade between China, India, Europe and Latin America.

Recognising there are important changes in international trade, we have put in place some new systems and a range of policies so that we can make sure we are much better placed to support customers who want to work in new countries. We have a very strong presence in Asia, the Middle East and Europe, and we are ideally located to support companies who are investing overseas in these areas.

Most regional banks are introducing Basel II regulations. What is the impact of these regulations on commercial banking?

The key challenge for bankers is to raise awareness among customers and businesses about the requirements of Basel II and its new regulations. There are significant changes that will have a very important impact on businesses including the way we look at our clients and how much we need to charge them according to risk prices for different customers.

There is a lot of complexity regarding financial adequacy rules and clients need to understand how these new regulations are going to work. In commercial banking under Basel I, all business had the same risk pricing rate and we provided the same rates for all business. But under Basel II, this changed and the risk pricing of capital required will change according to, among many other factors, the strength of the balance sheets of borrowers.

We will see reprising of risks among different segments of companies during the next two years. For large companies, there will be no changes because we will not need to provide more capital for the same services we offer them, but for companies with a weak balance sheet, banks will need to provide more capital for Central Banks and this will reflect in the risk pricing for them during the coming years.

What has been the impact of the sub-prime crisis on HSBC?

Despite the fact that we have substantial writing downs from our consumer lending business in the United States, we saw profits go up by 10 per cent in 2007 and this was a result of the growth we achieved in the Middle East and Asia. This is the benefit of being a global bank. In the Middle East, we are growing fast as HSBC has made a commitment to invest more in emerging markets and the Middle East is part of this expansion.

Keith Bradley
HSBC


Keith Bradley is the regional head of commercial and transaction banking for HSBC Bank Middle East. He joined the HSBC Group in January 1989 as an international manager. He took over his current position in July 2006. Prior to that his last assignment was senior executive for global commercial banking in Hong Kong. Bradley has worked in a variety of strategy, sales, product development and credit roles in Hong Kong, Vancouver, London and Jakarta. Educated in the United Kingdom, Bradley has a Master’s degree in business administration from Brunel University in the UK.


Last Update at 9:35 am on March 23, 2008

UAE to spend $4.4b on infrastructure

UAE to spend $4.4b on infrastructure
Last Updated : Sunday 23 Mar, 2008 -
print this article email this article next story post your commentsUAE president Sheikh Khalifa bin Zayed al-Nahayan has allocated $4.4 billion for infrastructure projects in parts of the country, WAM said yesterday. The funds will go towards setting up new towns and intercity highways as well as stormwater and sewage systems in the northern emirates, WAM said without identifying which emirates will benefit from the projects.

Abu Dhabi and Dubai are both spending billions of dollars on their infrastructure. But northern emirates, including Ajman, Fujairah, Ras al-Khaimah, Sharjah and Umm al-Qaiwain, are growing at a much slower pace.
In a recent opinion survey conducted by DSL Exhibitions to gauge consumer concerns and satisfaction levels in the wake of the UAE property boom, researchers found several startling results that clearly demonstrated residents’ rising confidence in infrastructure development.
“We believe that the UAE is at an important turning point in its journey of development,” said Tessa Morris, marketing director of DSL Exhibitions - organisers of The Local Property Show. Most respondents felt that infrastructure development across the UAE had improved the property landscape
in terms of accessibility and facilities.
However, huge concerns remained over traffic congestions and inter-emirate travel, as 86 per cent felt traffic had either worsened or remained the same, while a whopping 63 per cent felt that travel across the various parts of the UAE had worsened. These were areas respondents felt policy makers should focus on urgently.

First Catholic church for Saudi Arabia

First Catholic church for Saudi Arabia
Catholic News, Vatican

Vatican, Mar 22: Negotiations are underway to build the first Catholic church in Saudi Arabia with King Abdullah lending his support for its construction.

Vatican Radio reports the Vatican and the Saudi government are currently in talks to allow the church despite the kingdoms ban on allowing the construction of any non-Muslim place of worship.

No religion other than Islam is allowed to schedule public services, and even the possession of bibles, rosaries, and crucifixes is forbidden.

Saudi Arabia is the only country on the Arabian Peninsula without a Catholic church despite the 800,000 Catholics - virtually all of who are foreign workers.

While Saudi Arabia does not have formal diplomatic relations with the Holy See, King Abdullah became the first reigning Saudi monarch ever to visit the Vatican last November.

Commenting after his meeting with the Pope Vatican officials confirmed the Pontiff pressed for permission to open a Catholic church in the kingdom.

Holy See spokesman Fr Federico Lombardi said that opening a Catholic parish in the Islamic land would be "a historic achievement" for religious freedom and a major step forward for inter-religious dialogue.

The apostolic nuncio to Kuwait, Qatar, Yemen, the United Arab Emirates, and Bahrain, Archbishop Paul-Mounged El-Hachem, is reportedly the lead Vatican negotiator in talks with Saudi officials.

Tuesday, March 18, 2008

Saudi Women Initiate Change From Within

Saudi Women Initiate Change From Within
Javid Hassan & Hadeel Al-Khudair, Arab News

RIYADH, 14 March 2008 — Despite cultural taboos, a new generation of Saudi girls is fighting back to assert their role in Saudi society. Many young ladies in the Kingdom today occupy jobs in different sectors from health care and banking to media and business.

The mindset of Saudi women is slowly but surely undergoing a change. Whereas once a fresh graduate would say, “I want to study dentistry, but I am afraid I won’t get married,” now a 14-year-old boldly asserts, “As long as I am sustaining my hijab, I will study medicine and become a physician.”

The seeds of change are being planted in young minds at a time when the Kingdom is experiencing its second economic boom. Former Prime Minister of Norway Gro Harlem Brundtland, who visited Jeddah recently, observed, “There is no one outside that can force change on Saudi Arabia. The change should come from Saudis themselves.”

Brundtland added she believes that religion is not a hindrance and does not deprive women from access to opportunities. She felt that the problem lies with tradition and culture.

Change, however, is happening and young women are forcing the pace of this change, as Arab News found out.

“My work has become a chance for me to progress and make changes I never thought existed. The banking sector is like a window to the world,” said Reem, a bank investment service representative. “My self-reliance has boosted greatly and I learned that it’s a blessing to learn investment rather than spend away monthly earnings.”

Women are no longer willing to cave in to the restrictions imposed by culture. They are conscious of the need to separate culture from religion by working in various fields while maintaining their Islamic identity.

“Almost 10 years ago, most people here in the Kingdom were against the notion of women becoming physicians,” said Danah Al-Joma’ah, a medical student. “But now, people’s viewpoints have remarkably improved. This is enough proof that Saudi society has become more aware of the significance of having the female facet in different fields... A woman should have an active role in society and her prosperity affects neither her Islamic values nor her role as a wife and mother,” she added.

Interestingly, even a section of men are veering round to the idea of women working. However, the No. 1 factor that deters them from working in hospitals, banks, etc. are the long working hours and prolonged absence from home. It is encouraging to note that the government has embarked on a new initiative enabling Saudi women to work in different sectors. The Shoura Council is currently engaged in setting rules and regulations regarding women’s careers, which will ensure not only their rights but their safety as well.

In this context, it should be emphasized that the 10x10 strategy formulated by the Saudi Arabian General Investment Authority (SAGIA), which seeks to push Saudi Arabia among the 10 most competitive nations by 2010, should also envisage expanding the frontiers of their work domain. Currently, an estimated 16 percent of Saudi women — who comprise nearly 50 percent of the population — are employed. With a large segment of the Saudi population disabled by the weight of cultural traditions, one wonders whether SAGIA could home in on its 10x10 target.

The problem is further compounded by the fact that many Saudi women pursue higher studies, especially in humanities, in trying to get around the restrictions that they face. As Al-Hanouf, an administrative worker at a Riyadh University observes: “With so many students applying for a medical doctor (MD) course, you would assume they were going for a bachelor’s degree course.”

It turns out that this is just an exercise in intellectual embellishment as it lends prestige and weight to their personality. “Because our youth have not been well groomed for the job market, they take the easy way out and continue their studies until they are faced with nothing but the walls of their homes,” a King Saud University student told Arab News on condition of anonymity.

However, their hopes are blighted when they find roadblocks in their hunt for jobs. And when they do receive job offers, they find themselves ill prepared for interviews. Their CVs are often also not in order. No wonder, according to a recent study, an estimated 66.3 percent of educated Saudi women are unemployed. Usually, those who seek higher studies are either interested in raising their level of income through a well-paying job or merely seek to enhance their knowledge in a specific field.

“I just want to apply for a scholarship, acquire my MD and PhD and I don’t care then if I do nothing but sit at home,” May, a sociology student, told Arab News. “Even though most students think that they might secure better jobs with an MD, in essence they go for it as a matter of prestige,” she adds.

$90bn tourism projects 'coming up in GCC'

$90bn tourism projects 'coming up in GCC'
Dubai: Sun, 16 Mar 2008


With around $90 billion in tourism-related developments currently being built, the Gulf is set to enjoy growth rates hoteliers in other parts of the world will only be able to dream about, says an expert.

'We know the Middle East is a fast developing market but survey after survey is revealing the region continuing to grow on a grand scale, unmatched elsewhere and bucking negative economic trends in other parts of the world,' said Maggie Moore, exhibition director of 'The Hotel Show 2008.'

A premier supplies exhibition to the region’s hospitality sector, The Hotel Show, will be held in Dubai from June 8 to 10.

'Throughout the GCC countries of Bahrain, Oman, Kuwait, Qatar, the UAE and Saudi Arabia the massive development potential of the travel and tourism industry continues to be recognized with record levels of investment in supporting infrastructure,' said Moore.

The database of ProLeads, which monitors construction across the Arabian Gulf, identifies 185 individual projects worth $90 billion in hotels, resorts, sports facilities, malls, marinas, theme parks and related leisure and tourism facilities currently under construction or fully committed, she added.

Moore cited a recent hotel benchmark survey by consultants Deloitte showing the Middle East hotel industry as one of the fastest-growing regions in the world with revenues per available room (REvPar) growing 17 per cent in 2007, exceeding both Asia Pacific and Europe, with a promising outlook for the years to come.

The Hotel Show and its associated Seven Star Conference provide a future perspective on key trends and drivers shaping the travel and tourism sector in a region where the industry's share of investment in relation to gross domestic product has risen from 8.5 per cent in 2000 to a forecast 11 per cent in 2008.

The UN World Tourism Organisation (UNWTO) also sees an optimistic outlook for tourism in the Middle East.

'UNWTO identifies the Middle East as the tourism success story of the decade with the region emerging as a strong destination and visitor numbers climbing much faster than the world total,' said Moore.

'Regional confidence remains high for 2008, despite economic problems elsewhere.'

In addition, the World Travel and Tourism Council forecasts that the Middle East to be the only region to remain on course for 5 per cent growth in travel and tourism this year. This is in spite of the concerns about the impact of deteriorating economic conditions in North America, Africa and Europe.

The Hotel Show will showcase the latest products, services and technologies for the hospitality industry.

Organised by dmg world media Dubai, the Hotel Show is one of the most important dates in the international industry calendar and visitors include regional owner-operators, decision makers from international five-star hotel chains, architects and interior designers.

In excess of 16,500 square metres of exhibition space has been reserved for 2008, to accommodate surging demand from both international and regional exhibitors and is already heading towards a sell-out.-TradeArabia News Service

UAE to end illiteracy in seven years

March 16th, 2008 - 1:43 pm ICT by admin - Email This Post

Abu Dhabi, March 16 (IANS) The United Arab Emirates (UAE) has pledged to eradicate illiteracy within seven years to become the first Arab country to attain 100 percent literacy, WAM news agency reported.
The country hopes to bid farewell to illiteracy by 2015 or even before, Arabic newspaper Al Ittihad quoted officials of the education ministry as saying.

A recent survey showed that the illiteracy rate in the UAE has declined from 22 percent in 2000 to 9 percent in 2005.

Tuesday, March 11, 2008

Abu Dhabi as Future Tourist Hub

Arab-German Gathering Hails Abu Dhabi as Future Tourist Hub

Emirates Palace in Abu Dhabi.

BERLIN (WAM)—A number of Arab Tourism Ministers, German tourist experts and officials of the World Tourism Organization, agreed that the tourism and property development projects in Abu Dhabi emirate, particularly Al Saadiyah Island development, will constitute a turning point in concept of tourism in the Middle East.

They added that "the UAE is not only emerging as a regional tourism hub, but steadily growing as one of major tourist hubs worldwide."

The remarks were made during the Arab-German Tourism Gathering on March 7, organized by the Arab-German Chamber of Commerce and Industry in Berlin, at the sideline of the International Travel Bourse, which was attended by Syrian Tourism Minister Dr Saddallh Agha and the Arab-German Chamber of Commerce Chairman Thomas Bach.

"Gathering of world museums, such as Louvre and others in Abu Dhabi will change many concepts of tourism," Agha remarked.
On his part, Bach said that he was closely following up amazing progress being witnessed by the UAE in general and Abu Dhabi in particular, adding that "the UAE is exerting significant efforts to develop tourism and seizes every opportunity to promote itself in EU market."

Abu Dhabi Top 10 Globa Destination

Abu Dhabi has been selected as one of the top ten destinations in the world by expedia.co.uk, UK's largest online travel agent. Abu Dhabi ranks among New Zealand, Argentina, China, Cape Verde, Alaska, Reykjavik, Berlin, Boston and Liverpool as one of the Top Ten places to visit in 2008.

Explaining the choice of Abu Dhabi as a leading global destination, expedia.com wrote: "Few places can have undergone such fundamental change over the past 50 years as the emirate of Abu Dhabi.

Today visitors can enjoy the beach, desert safarl's, variety enough to quench even the strongest thirst for retail therapy."

His Excellency Sheikh Sultan Bin Tahnoun Al Nahyan, Chairman, Abu Dhabi Tourism Authority (ADTA), the apex body that manages Abu Dhabil's tourism sector, said: "The choice of Abu Dhabi in expedia.co.uk's Top 10 places to visit in 2008 is a reiteration of the growing stature earned by the emirate in the global tourism industry.

Aerial view of Abu Dhabi.


It also highlights the concerted efforts made by ADTA and stakeholders to showcase Abu Dhabi to global travelers and further develop the tourism luxurious offerings in the emirate through a carefully structured strategy, stressing on the influential role of the continuous programs managed and supervised by ADTA like road shows and Abu Dhabi Tourism Champion which had been launched in 2005 and covered major tour operators in basic cities in Europe."

Talking of the emirate's unique luxury attractions, Mr. Mubarak Hamad Al Muhairi, Director General of ADTA, stated: "Abu Dhabi has an eclectic spread of choices that meets the demands of global travelers. Apart from famed sea, sun, sand and luxurious choices, which visitors to the UAE are assured of, Abu Dhabi also offers a unique cultural and heritage environment that fascinates visitors.

Global travelers prefer to choose their holiday destination based on expedia.co.uk's recommendations. The selection of Abu Dhabi as a Top 10 place to visit is expected to fuel greater tourist interest from the West to the emirate.

Dozens of Westerners, including black-clad women, have been flocking to Sheikh Zayed Mosque in Abu Dhabi, an architectural masterpiece graced with a Persian carpet said to be the biggest in the world.

"It is the third biggest mosque in the world after the Haramain," boasted the project's deputy head, Khawla al-Suleimani, after Islam's two holiest sites in Saudi Arabia — Mecca's Grand Mosque and the Prophet's Mosque in Medina.


Dozens of Westerners, including black-clad women, have been flocking to Sheikh Zayed Mosque in Abu Dhabi.

But unlike these two mosques, the one named after the United Arab Emirates' late founding father, Sheikh Zayed bin Sultan al-Nahayan, is not off-limits to non-Muslims.

In fact, the opposite is true, with some provisos.
Women must cover themselves from head to toe in abayas, or long black robes, handed them at the entrance.

"And non-Muslims must not touch the Koran," the Muslim holy book, copies of which are stacked in every prayer room, cautions one of the guides.

Armed with cameras to capture the splendor of the place, visitors have been coming from within the UAE "but also from abroad," said Suleimani.

"Hundreds have been coming every week since the opening (of the mosque) on the first day of Eid al-Adha," the Muslim feast of sacrifice which fell in December, she added.

The project was launched in 1998 by Sheikh Zayed, who besides being the UAE's first president was also ruler of the oil-rich emirate of Abu Dhabi, one of seven making up the Gulf federation. Work will be fully completed in November 2009.

Sheikh Zayed, who died in November 2004, is buried in a courtyard adjacent to the mosque.

"The mosque is dedicated to the father of the nation, whose vision was founded on dialogue between religions, civilizations and cultures," say brochures handed out to visitors by the Abu Dhabi Tourism Authority.

The authority began to organize guided tours of the place last month.

"Apart from the thousands of (Muslim) faithful who come to pray, the mosque is visited by non-Muslims: Germans, French, Britons, Italians, Russians, Americans, Argentineans and Indians," it said in a guide.

Unlike the leisure-oriented UAE emirate of Dubai, Abu Dhabi is seeking to become a cultural hub and sees the mosque as one more attraction for tourists looking for more than sandy beaches and huge shopping malls.

"As Sheikh Zayed wished, the mosque was built on a 9.5-metre (31-feet) high hill so it is visible from far, it covers an area of 22,000 square meters (237,000 square feet), and it can accommodate more than 40,000 faithful," said engineer Mohammad Ali al-Ameri.
Ameri said construction was nearly over, with only fences, gardens and car parks still to be completed.

""Thousands of workers," nearly all from the Asian subcontinent, were involved in building the mosque, he said. The sculptors were Moroccan.

Thousands of rare and semi-precious stones, some encrusted in marble, were used to decorate the structure.

The centerpiece is a 6,000 square meter (64,583 square feet) hand-made Persian carpet, said to be the biggest in the world.
"More than 1,200 women from the Khorasan region in eastern Iran spent two years weaving the carpet, which weighs 45 tones and cost more than 8.5 million dollars," Ameri said.

The carpet covers the floor of the main prayer hall, which can accommodate up to 9,000 faithful.

Two rooms next to the main prayer hall, with a 1,500-capacity each, have been reserved for women, who can follow sermons delivered by prayer leaders on giant television screens. Islam requires men and women to pray separately.

The main dome is also "the biggest" mosque dome in the world, according to Ameri, who said it is 75 meters (246 feet) high with a 32.2-metre (105.6 feet) diameter.

Another breathtaking piece is a huge crystal chandelier in the main prayer hall, one of seven German-made chandeliers costing more than eight million dollars. It is 10-metre (32.8 feet) tall, 10-metre wide and weighs nine tones.

Ameri would not give the total cost of the mosque, but Suleimani estimated it at more than two billion dirhams (545 million dollars).
Jordan’s ICT Minister to address Cisco Expo Levant 2008
Posted on Sunday, 9 March 2008

Industry Sector IT
Country Jordan

Cisco®, the worldwide leader in networking that transforms how people connect, communicate, and collaborate, today announced that H.E. Eng. Basem Rousan, Minister of Information & Communications Technology for Jordan will deliver the keynote speech at Cisco Expo Levant 2008.

The event will be held on March 11th, 2008 and will showcase innovative solutions to decision makers while highlighting the role that Information and Communications Technology (ICT) will play in positioning Jordan as a leading knowledge based economy in the region. The event will bring together over 400 of Jordan's top business and technology decision makers to share ideas and best practices.

"The Jordanian market has realised the importance of investing in ICT to adapt quickly to rapidly shifting market and consumer dynamics. The country's economic growth is driven by large part by the adoption of information and communication technologies," said Ziad Mortaja, Regional General Manager and Director for Cisco Middle East, North Africa and the Levant.

A number of leading Jordanian technology companies and Cisco Partners such as Ad-Tech, Data Consult, Intracom Jordan, Jordan Business Systems, Mabco, Optimiza, Panduit and STS will also be present at the event.

Visitors to the Cisco Partners stands in Cisco Expo will have the opportunity to experience some of the regions most advanced and innovative business solutions, designed according to international best practices to meet local needs and requirements.

Cisco Expo Levant 2008 will also showcase customised vertical-specific solutions to bring value to its customers across industries such as Enterprise & SMB, Public Sector and Service Providers.

The event will also host a panel discussion on the challenges of IT adoption in emerging markets, live technology demonstrations as well as in-depth breakout sessions on Cisco's offerings in managed services, security and data centre architecture and applications.

"As Jordan continues to focus on digital communications, Cisco Expo is an ideal platform to discuss the future of communications technology, trends and issues that will change the future landscape of the industry. It is a key market for Cisco and provides a platform for us to lead market transitions in the emerging world. We are confident that we will be able to offer solutions that will enable our customers in this region to deliver quality products and services," concluded Murtaja. Cisco Expo 2008 is a registration only event and will take place at the Le Royal Hotel in Amman.

BU brings dental school to United Arab Emirates

Email|Print| Text size – + By Peter Schworm
Globe Staff / March 9, 2008
Boston University might be outgrowing its name, at least in a geographic sense, as the Commonwealth Avenue campus is expanding overseas for the first time with a new dental school in the United Arab Emirates.

more stories like this
nullJoining a growing number of American universities opening satellite campuses to far-flung reaches of the globe, BU recently held a ceremony in Dubai to commemorate the opening of the Boston University Institute of Dental Research and Education Dubai, and the Boston University Dental Health Center at Dubai Healthcare City.

BU administrators joined UAE dignitaries, including His Highness Sheik Mohammed bin Rashid Al Maktoum, ruler of Dubai, in marking the occasion late last month.

"The collaboration with such a renowned world-class American medical and academic institution will further consolidate our position as a regional health-care hub," said Muhadditha Al Hashimi, CEO of Dubai Healthcare City.

Dubai Healthcare City aims to become a world-class academic medical community built on the Harvard Medical School Dubai Center, a major university hospital, and the BU Institute.

The institute will seek to train dentists in specialties and advance dental research in the region. BU faculty will develop and oversee the training programs. The BU Dental Health Center has begun providing dental services to residents and visitors, and the first class of residents will begin their studies in July.

"We take our responsibility as educators and researchers in the global community very seriously," said Jeffrey Hutter, interim dean of the Goldman School of Dental Medicine.

FINANCE U: Stumped by even simple stock charts? Need a primer on the subprime scandal? Probably should steer clear of the I-Tower dormitory at Babson College, where investment strategies and economic theories are the conversational coin of the realm. The special dormitory at the business-focused college in Wellesley houses 21 students who live and breathe finance (the "I" stands for investment), and who want to be immersed 24-seven in the finer points of fixed income and foreign equities.

Now in its fourth year, the I-Tower is designed to foster a focused environment that will help students on the road to a career in finance. Starting tomorrow, they will begin rehearsing future wheelings and dealings with a six-week virtual stock competition in which entrants receive $1 million in pretend money to invest. The savviest investor receives an actual $1,000 prize, and given the students' financial focus, that virtual million might become real before they know it.

Gordon College is based in the North Shore suburb of Wenham. But the nondenominational Christian college is setting down more roots in Dorchester, leasing part of a 200-year-old church and a nearby Victorian mansion to give some of its students the experience of living in an urban setting.

The 1,700-student college leases part of the Second Church of Dorchester and some of the connecting parish house to accommodate Gordon in Boston, an off-campus urban studies program that allows students to live, work, and study in the city for a semester.

"By living, learning, and serving in an urban context, students have the opportunity to learn through the eyes of others," said Gordon President R. Judson Carlberg.

The college has renovated the building's interior into an apartment-style dormitory that houses the majority of students in the program. The second floor of the church annex has been transformed into classrooms, a student lounge and offices.

Other students are living at the Salvation Army Jubilee House, a 23-room Victorian mansion located a few blocks from the Second Church on Melville Avenue.

"It is the commitment of Gordon College to be truly involved in the community and not just be another resident," said Rev. Craig McMullen, director of the Gordon in Boston program. "We could have purchased our own buildings for housing and programs, but by partnering with the two urban churches we are able to leverage our resources to encourage their urban ministry among this community."

This is Gordon's second city campus. In 2006, it opened a $1 million dormitory in Lynn, where students tutor children after school, teach English to immigrants, and volunteer for a variety of youth and civic organizations.

Campus Insider runs on alternate Sundays with Ask the Teacher, an advice column. To submit tips to Campus Insider, e-mail Peter Schworm at schworm@globe.com.

© Copyright 2008 Globe Newspaper Company.

Carnegie Mellon Qatar holds 'Money Talks' finance lecture series

Carnegie Mellon University in Qatar has initiated a 'Money Talks' finance lecture Series.
Qatar: Sunday, March 09 - 2008 at 11:15 PRESS RELEASE

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The series invites prominent professionals to share their knowledge and real-life experiences with the undergraduate students at Carnegie Mellon Qatar.

'The idea behind the lecture series is to give students a better understanding of how the skills they learn in a university setting can be applied to their professional life,' says Aziz Lookman, Ph.D, finance professor at Carnegie Mellon Qatar. 'Students also get an inside look into various jobs, which allows them to find out what they like and don't like.'

Kapil Chadda, Head of Investment Banking at HSBC BANK in Qatar, conducted the first lecture in January.

Chadda discussed the different advisory services provided by an international investment bank. Chadda spoke to a group of undergraduate students about how financial analysis tools are used by investment banks to advise their clients on a range of strategic decisions.

'Money Talks' lectures does not just focus on jobs in the financial sector. Rather, talks encompass various subjects including financial aspects of entrepreneurship and how finance plays a role in all areas of business.

Some talks are more geared for the Business Administrative students, while others are relevant to all of the undergraduates at Carnegie Mellon Qatar.

'Such presentations help students better understand how the rigorous quantitative training, which is the hallmark of the Carnegie Mellon Business Administration program, is used in practice and help them make informed career decisions', says Lookman. 'The talks also provide companies with an opportunity to talk to a large group of students about the opportunities they have available.

Upcoming speakers in the 'Money Talks' finance lecture series will include Bhupendra Jain, Head of Corporate Banking at International Bank of Qatar, and senior managers from other organizations such as AlShall Economic Services and the Qatar Financial Center.

The series will also include student presentations, documentary showings and other ways for students to learn about different career paths.

Thursday, March 6, 2008

US universities bag $60mn Saudi deal

by Lynne Roberts on Thursday, 06 March 2008

RESEARCH LEADER: The $10 billion King Abdullah University of Science and Technology will not discriminate on the basis of gender, religion or race.Stanford University and UC Berkeley are to help develop a major campus at Saudi Arabia’s $10 billion King Abdullah University of Science and Technology (KAUST), according to US press reports.

The US colleges will each receive almost $30 million to help the flagship research institute hire 60 faculty staff and create graduate-level courses in six disciplines for its planned opening in September 2009.

Stanford is to help design and built the university’s departments of maths and computer science, while UC Berkeley will focus on mechanical engineering.

According to the San Francisco Chronicle, Stanford and Berkeley will each receive $10 million earmarked for the participating departments, $10 million for joint research in the US and $5 million for collaborative research conducted at Kaust.

Berkeley will also receive $3.3 million to cover administrative costs, while Stanford will get $4.4 million, the paper said.

According to Berkeley administrators, the contract was agreed on the understanding that women would be treated equally at the university. Faculty staff at Berkeley’s Department of Civil and Environmental Engineering had reportedly declined to join over concerns about academic and personal freedom.

Kaust, located on the Red Sea at Thuwal, north of Jeddah, will accept students of both sexes and will not discriminate on the basis of religion or race, officials said.

The university, which has one of the world’s largest educational endowments from the pocket of King Abdullah, aims to be a global leader in research into energy, environmental sciences, computing, mathematics and engineering.

Similar deals with a further three US universities are expected to be announced later this week.

UC Berkeley plans Saudi university deal'Secret talks' with King Abdullah University of Science and Technology raise discrimination concerns.

Tuesday, March 4, 2008

Saudi Arabia slowly opens doors to tourists

Saudi Arabia slowly opens doors to tourists
Visitors fascinated by culture's contrast, climate's diversity
Ethan Todras-Whitehill, New York Times

Sunday, March 2, 2008

If you were running a restrictive Islamic state where the women can't drive and restaurants are segregated between families and single men, the last idea that might occur to you is to invite Westerners in to have a look. And yet, that's exactly what the Kingdom of Saudi Arabia is doing.

As part of a group of reforms, the kingdom is trying to develop the country as a tourist destination, first for domestic travelers and later for international ones. Westerners are starting to visit the country on small group tours, a process that has become easier with loosened visa rules.

The country's starkly different customs are part of the appeal for visitors - some even claim to see advantages in wearing the abaya, the formless black robe that women must wear in public. So are its intact culture, historical sites and unexpected diversity of climate and topography.

It used to be that tourists could visit Saudi Arabia only through the Discover Saudi Arabia program, run through Saudi Arabian Airlines. The visa process was slow and impenetrable, and tour operators could book flights only through that airline, greatly limiting options.

But in April, the government passed a law allowing domestic travel agencies to bring in foreign tours. If all goes as hoped, the new arrangement will speed the visa process and give foreign tour operators greater flexibility. It is a small step, but one that reflects the Saudi government's new interest in foreign tourism.

Saudi Arabia has long been one of the world's most popular tourist destinations - for Muslims making a pilgrimage to Islam's holy cities of Mecca and Medina. Millions of pilgrims visit each year for either the hajj, which is a pilgrimage at a prescribed time, or umrah, a visit to the sites at any other time of the year. Non-Muslims are forbidden to enter these locations.

As for nonreligious tourists, they made up only 7 percent of the country's foreign tourists in 2006, although that is up from 4 percent in 2004, and most of those visitors came from the Middle East.

The ruler of Saudi Arabia, King Abdullah, is instituting a number of well-publicized reforms to diversify the country's economy and insulate it against changes in the oil market. International tourism isn't part of that program, but domestic tourism is. The government estimates that Saudis who might take holidays in Saudi Arabia are an untapped $15 billion market and that the international tourism market is tiny in comparison.

Still, international tourists do have value to the government as part of a public relations campaign.

"Saudi Arabia today faces a big challenge, which is its image," said Prince Sultan bin Salman bin Abdel Aziz, secretary general of the Supreme Commission of Tourism of Saudi Arabia. "It is very important for us that people come and see it as it is. Seeing is believing."

Saudi Arabia does surprise most tourists. "Most people think of it as a vast desert with oil wells popping up all over it," said Robert Parda of Advantage Tours, one of the few American companies that run tours to Saudi Arabia.

It is a closed country, but a wealthy one, with a mix of modern buildings and ancient architecture. Although non-Muslims cannot see Mecca and Medina (and those with Israeli stamps on their passports cannot enter the country at all), most can visit the old marketplaces of cities such as Jidda, which is well preserved. The Saudi Red Sea coast is said to have some of the most pristine scuba diving in the world, although the infrastructure for taking advantage of it is not yet in place.

The destination with the greatest potential "wow" factor is Madain Salih, an ancient Nabataean city carved into sandstone cliffs. The sister city to Petra in Jordan, it has been proposed by Saudi Arabia as a World Heritage Site of UNESCO, the U.N. Educational, Scientific and Cultural Organization.

Though it lacks an iconic building like Petra's Treasury (the site of the Holy Grail in "Indiana Jones and the Last Crusade"), it has many more structures than Petra does, and they are better preserved. Visiting can be a solitary and wondrous experience. "It's not unusual for no one else to be in the whole site besides our group," Parda said.

But the biggest draw of Saudi Arabia may be the closed nature of the country itself. The tour operators interviewed for this article said the majority of clients who went on their Saudi tours were exceptionally well traveled, many having visited 100 countries. Saudi Arabia at this point is a place Western tourists go when they're looking for something totally different, a culture little touched by the Western world.

On one tour to Saudi Arabia in April, a tour bus was passing a local auction in a town square near Dammam on the gulf coast when the tour leader, Rita Zawaideh, directed it to stop. Zawaideh, an Arab American who runs Caravan-Serai Tours out of Seattle, began raising her hand to bid, and her mostly female tour group did the same, confusing and ultimately delighting the all-male crowd.

"They would joke and say: 'Raise the prices! The Americans want to buy,' " Zawaideh said, "and then I go at them in Arabic and they say: 'OK! We can't raise the prices. We'll lower the prices!' " The locals brought out tea and wanted to hear the tourists' impressions of the country, and the group ultimately purchased pottery, an old sword, an antique window and other items.

The act of observing an untouched culture, of course, inevitably touches it. Countries such as Bhutan have kept out tourists for that reason. Saudi concern with preventing this kind of change is a reason it has been slow to consider granting independent tourist visas, which are not offered.

The country's leaders are interested in encouraging the Saudis themselves to move around in their country, believing that the growth of a domestic tourism industry would actually solidify their culture. Families would have more options for traveling together and could see the diversity of their country, which Prince Sultan bin Salman thinks would make them recognize their national unity as "nothing less than a miracle."

Still, the domestic tourists are "pathfinders" for the international tourists who will follow, according to the prince, and the government says it will monitor the response to the tourism from the local communities. "We've seen how things sometimes happening in a hurry can be detrimental to society and social change," the prince said. "We're not in a hurry to do more than we can swallow."

For the time being, the experience of visiting Saudi Arabia includes conforming to its norms. No alcohol, pornography or proselytizing materials can be taken into the country. A woman younger than 30 cannot enter the country without a husband or brother. Women cannot walk about unaccompanied, and they must keep their bodies covered with abayas.

The Saudis aren't kidding about it. On a tour she led in 2006, Zawaideh said, she noticed some Europeans walking around with their husbands, probably business travelers, without abayas or head scarves, and she warned them that the husbands could be arrested for this offense. The women brushed her off, she said, and within an hour, she noticed security people talking with the couples, then taking the men away.

Zawaideh says that she has no such problem with her clients. Two women wore the abaya all the way to New York, and some found it had the advantages of helping them fit in and protecting against blowing sand.

Joyce Jolley, 76, a retired dental hygienist from Seattle, bought the most severe kind to take home, including a head covering with only an eye-slit opening and a sheer black veil to cover that - more than what Saudi women are required to wear. "It was kind of an adventure," she said.

This article appeared on page A - 11 of the San Francisco Chronicle