Dubai eGovernment and Microsoft launch IT training program for prison inmates

Ta'aheel Project aims to help young inmates utilise the power of IT to re-engage with society on their release

June 04, 2005 Dubai eGovernment, in association with Microsoft, has launched a landmark program to provide technology training to the inmates of prisons in Dubai, in order to enable young inmates to utilise IT skills to re-engage with society on their release and become responsible citizens contributing to the progress of society. The training program is carried out in partnership with Dubai Police Department.

As part of the first phase of the Ta'aheel Project to rehabilitate prison inmates, IT training will be imparted to personnel of the Dubai Police, who in turn will pass on the acquired skills to the inmates. Salem Al Shair, eServices Director, Dubai eGovernment, said, "The technology training program is a reflection of the eGovernment's commitment to break down the digital divide and ensure that the benefits of technology reach as wide a section of the population as possible.”

Many inmates regress into the world of crime after their release due to their inability to find any respectable means to keep themselves occupied. Bringing the inmates within the IT sphere will bring them back into the social fold and help them lead a normal life upon their release by making use of the gathered skills to re-engage with society."

Amna Al-Nakhi, Academic Program and Community Affairs Manager, Microsoft Corporation, South Gulf, said, "At Microsoft, we know that amazing things happen when people have access to the right resources to help them pursue their dreams. We’ve seen it again and again when we have worked with the unprivileged children, women and other citizens and it did create a lasting difference in hundreds of communities and thousands of lives around the Middle East. Our goal is to truly empower people and communities even prisoners, by making sure they have the tools, skills and resources to overcome not only today’s challenges, but also those that will arise in the future, and the Ta'aheel Project is part of our larger efforts toward this goal"

The training will be conducted for 5 hours a day for a period of two months, and will stretch a total of 102-110 hours. The Unlimited Potential Curriculum contains 8 modules, wherein the fundamentals of Computer; Digital Media; Internet and World Wide Web; Web Design; Word Processing; Presentation; Database and Spreadsheet will be taught.

Trox Group to set up advanced technology center at Dubai Techno Park

Dhs 37 million facility will enable Trox to carry out customer tests comparing alternative products and systems locally

June 03, 2005 Trox Group will be setting up their advanced Middle East Technology Center, at Dubai Techno Park. The Center will collaborate with key regional clients to create, design, test and manufacture system and product solutions. “Our decision to establish operations at Dubai Techno Park was made after taking into account, the excellent facilities and services provided by the Park and the assistance received in accommodating our infrastructure needs. Dubai is definitely the commercial centre of the GCC region, with its well-planned transport links and the availability of legal and financial resources. The ease of doing business at Techno Park, combined with the booming construction industry in the region, also influenced our decision to invest in a facility here,” said David Leatherbarrow, Managing Director of Trox UK Ltd.

Abdullah Ahmed Al Qurashi, Chief Executive Officer, Dubai Techno Park, stated: “Trox’s investment in the technology center at Techno Park comes at a time when the region’s construction industry is at an all-time high, with a range of residential and commercial developments being constructed throughout Dubai. Trox Group can fully capitalise on this boom by targeting construction companies with their high quality terminal air movement and fire protection products. Safety is of paramount importance to builders today, thus presenting a high potential market for Trox.”

The 15,000 square meter facility, built with an expected investment of Dhs 37 million, will be the twelfth design and manufacturing center worldwide for the Trox Group. Trox UK Ltd. has had a branch office in Dubai for more than 30 years, supplying products to major clients like Emirates Towers, Burj Al Arab and the new Emirates Palace Hotel.

“Trox Middle East Technology Centre will enable the company to carry out customer tests comparing alternative products and systems locally, by which customers, for the first time, will be able to optimize system design before the product is delivered. This process will ensure the satisfactory operation of the system without experiencing the current level of problems due to noise and draughts,” said Thomas Humpf, Senior Vice President of Trox Group.

The new facility will offer services like application engineering, testing, demonstration, customer and operator training, system commissioning and manufacturing. “Trox will also benefit tremendously from the range of infrastructure facilities and support services at Techno Park. The park is a hub for various industries involved in hi-tech manufacturing and trading, and serves as an ideal location for companies to target the Middle East markets,” concluded Al Qurashi.

 

India Keen to Attract More American Investors

Indo-US crosses $ 19 billion 2004-05

Speaking at an interactive meeting with the Asia Society in New York today, Shri Kamal Nath, Minister of Commerce & Industry, stated that wooing foreign direct investment (FDI) was an integral part of the economic strategy of both the central and the state governments in India. “What is important is that India has an open system with social and political safety valves, and a regulatory environment that provides comfort, long-term stability and security to the foreign investor”, he said.

Shri Kamal Nath also quoted the Chief Minister of West Bengal, Shri Buddhadeb Bhattacharjee, as saying in an interview to a business magazine: “We must come face to face with reality…. We have to attract more funds, more foreign funds….. foreigners could come here. They are not coming here for charity. They will earn profit and create job opportunities. That is the mutual interest”. After these words of the Chief Minister of West Bengal, the Indian State with the longest surviving Communist Government, “you can make some estimate of the economic climate in India and our responsiveness to foreign investment”, Shri Kamal Nath added.

The Minister said that if he were to describe the Indian economy of today in just three objectives, he would put it as “India: the Fastest-Growing Free-Market Democracy”. He also took the opportunity to correct the misconception that India today was lagging behind in manufacturing skills while excelling only in services and business process outsourcing. “In sectors like auto-components, chemicals, apparels, pharmaceuticals and jewellery we can match the best in the world. We have the skills, we have the positive environment and attitude. All we want is investment and better technology. Today few other countries have embraced foreign technology and management best-practices with as much enthusiasm as has India”, Shri Kamal Nath added.

He reiterated that Indo-US partnership could be constructed on the following five pillars: a strategic partnership covering not only peace and security, but close trade and commercial ties; a conducive policy environment to leverage the inherent strengths of each others socio-economic systems; building stronger physical and virtual networks; integrating of markets and nurturing shared values as two of the world’s strongest and largest democracies.

Indo-US trade crosses US $ 19 billion

Meanwhile, according to the latest data from the Directorate General of Commercial Intelligence & Statistics (DGCI&S), two-way trade between India and United States has crossed US $ 19 billion in 2004-05 registering a growth of nearly 20% over the preceding financial year 2003-04. India’s exports to the US in 2004-05 are estimated at US $ 13265.60 million (i.e. $ 13.2 billion), showing a growth of 15.45% over the previous year, while India’s imports from the US are valued at US $ 6291.49 million (i.e. $ 6.2 billion), showing a growth of 24.96% over the previous year 2003-04. Thus, India has a trade surplus with the US in 2004-05 to the tune of US $ 6974 million (i.e. $ 6.9 billion).

DUBAI EYE Signs Up As DUBAI 2005 Official Radio Broadcaster

June 02, 2005 Dubai Eye 103.8, the English news, talk and sports station which is part of Dubai Radio Network, has signed as the official radio broadcaster for Dubai 2005, the ninth international aerospace exhibition, taking the world’s fastest growing air show to Dubai audiences across its 103.8 frequency. Dubai Eye will broadcast from Dubai 2005, being held at the Airport Expo Dubai from November 20 – 24. “This agreement provides excellent synergy between one of the most compelling industry events in Dubai and its most business-savvy radio station,” said Alison Weller, Project Manager, Fairs & Exhibitions, the organiser of the Dubai air show.

“It’s a tremendous opportunity for Dubai-based businesses to hear first hand about the Dubai air show and what it means for the region and the emirate in particular. As this is a trade-only event and primarily a forum to do business, radio coverage will bring Dubai 2005 close to the many people across the emirate who are unable to attend the show.” To be called Dubai Airshow Radio, the programme will broadcast throughout the show’s opening hours and will focus on interviews and interesting on-air discussions about the present and future of one of the Middle East’s fastest growing industries.

For the show’s exhibitors and visitors, branded pocket radios will be made available to help them stay tuned.“The variety of exhibitors and usually high number of announcements at the Dubai air show gives Dubai Eye ample opportunity to give our listeners interesting news on the local, regional and international aviation and aerospace developments as it happens,” said Matthew Pullen, Group Sales Manager, DRN. “The versatility, immediacy and reach of radio as an information channel make it a very attractive sponsorship vehicle and our team has put together attractive packages targeting Dubai 2005 exhibitors.” Dubai 2005 is being organised by F&E in conjunction with the Department of Civil Aviation, Government of Dubai and in co-operation with the UAE Armed Forces.

India and Thailand Sign Education Agreement

A Memorandum of Understanding between Thailand and India on Cooperation in the field of Education was signed here today on the occasion of the visit of H.E. Dr. Thaksin Shinawatra, Prime Minister of Thailand to India. From the Indian side, the signatory of the MOU was Shri Arjun Singh, Hon’ble Minister of Human Resource Development. From the Thai side, it was signed by H.E. Kantathi Suphamongkon, the Thai Foreign Minister. The MOU is in the form of an umbrella arrangement and provide a focused attention to collaboration in the Education Sector between the two countries. More specific exchanges under this programme would take place on the basis of further MOU’s to be drawn by counterpart institutions in the two countries. The areas of cooperation under this include:

i) exchange of research materials, publications, educational literature, teaching aids, demonstration materials and information;

ii) organization of joint conferences, exhibitions and seminars;

iii) organization of joint research programmes and publications

iv) organization of training programmes for educational administrators, educators and teachers;

v) exchange of academic personnel and other administrators;

vi) exchange of scholars, teachers, experts, persons with local wisdom and students;

vii) twinning arrangements between institutions of higher learning;

viii) promoting and developing bilateral programmes between institutions of educational excellence in technical, vocational and higher education;

ix) examining the possibility of mutual recognition of educational qualifications;

x) setting up of chairs on contemporary studies;

xi) providing scholarships for further education in recognized institutions of higher learning on a reciprocal basis;

xii) providing mutual assistance in the field of information technology, computer science and mathematics & science;

xiii) any other activities to be mutually agreed upon by the Parties.

There is a provision for the establishment of a Joint Working Group to oversee the Arrangement. The Joint Working Group will be chaired, on behalf of the Ministry of Education of Thailand by a representative of the Ministry of Education and on behalf of the Ministry of Human Resources Development of India by a representatives of the Department of Secondary & Higher Education, Ministry of Human Resources Development, with participation by other Government Ministries and sector organizations as appropriate. The Joint Working Group will meet alternately in India and Thailand at least once biennially or as the participants may otherwise mutually determine, to review the outcomes of the Arrangement

EXTERNAL COMMERCIAL BORROWINGS POLICY REVISED

In the background of developments in recent months, Government has decided to further revise the policy on External Commercial Borrowings (ECB). ECB can now be accessed under two routes, namely, (i) Automatic Route and (ii) Approval Route. ECB for investment in the real sector - industrial sector, especially infrastructure sector in India – is under the Automatic Route, i.e. will not require RBI/Government approval. The maximum amount of ECB which can be raised by an eligible borrower under the Automatic Route is USD 500 million during a financial year. The following is permissible under the Automatic route:

ECB up to USD 20 million or equivalent with minimum average maturity of 3 years
ECB above USD 20 million and up to USD 500 million or equivalent with minimum average maturity of 5 years All cases, which fall outside the purview of the Automatic Route, will be decided by an Empowered Committee of RBI.

Eligible borrowers

Under the extant policy, corporates registered under the Companies Act, 1956, except financial intermediaries such as banks, financial institutions (FIs), housing finance companies and Non-Banking Finance Companies (NBFCs), are eligible. Subsequently, NGOs engaged in micro-finance activities have been permitted to raise ECB up to USD 5 million during a financial year for permitted end-use, under the automatic route. Detailed guidelines have been issued by RBI. It has now been decided to further expand the eligibility/end-use as follows:

ECB by NBFCs will be permitted under the Approval Route from multilateral financial institutions, reputed regional financial institutions, official export agencies and international banks towards import of infrastructure equipment for leasing to infrastructure projects with a minimum average maturity of 5 years.

Foreign Currency Convertible Bonds (FCCBs) by Housing Finance Companies with strong financials satisfying criteria to be notified by RBI, will be permitted under the Approval Route.

Individuals, Trusts and non-profit making organizations, except NGOs as mentioned in paragraph 4 above, are not eligible to raise ECB.

Financial institutions dealing exclusively with infrastructure or export finance such as IDFC, IL&FS, Power Finance Corporation, Power Trading Corporation, IRCON and EXIM Bank are considered on a case-by-case basis i.e. through the approval route.

Banks and financial institutions which had participated in the textile or steel sector restructuring package as approved by the Government are permitted to the extent of their investment in the package and assessment by RBI based on prudential norms. Any ECB availed for this purpose so far is deducted from their entitlement.

Recognised Lenders

Borrowers can raise ECB from internationally recognised sources such as (i) international banks, international capital markets, multilateral financial institutions (such as IFC, ADB, CDC etc.) (ii) export credit agencies and (iii) suppliers of equipment, foreign collaborators and foreign equity holders.

Interest Rate Spreads

All ECBs are subject to the following maximum spreads over six month LIBOR, for the respective currency of borrowing or the applicable benchmark(s) as the case may be:

MINIMUM Average Maturity PERIOD
All-in-cost ceilings OVER SIX MONTHS LIBOR*

3 years and up to 5 years
200 basis points

More than 5 years
350 basis points

* All-in-cost ceilings includes rate of interest, other fees and expenses in foreign currency except commitment fee, pre-payment fee and fees payable in Indian rupees. Moreover, the payment of withholding tax in Indian rupees is excluded for calculating the all-in-cost.

End-use

Permissible end-use/restrictions are explained below:

ECB can be raised only for investment (such as import of capital goods, new projects, modernisation/expansion of existing production units) in real sector - industrial sector including small and medium enterprises (SME) and infrastructure sector - in India. Infrastructure sector is defined as (i) power, (ii) telecommunication, (iii) railways, (iv) roads including bridges, (v) ports, (vi) industrial parks and (vii) urban infrastructure (water supply, sanitation and sewage projects);

ECB proceeds can be utilised for overseas direct investment in Joint Ventures (JV)/Wholly Owned Subsidiaries (WOS) subject to the existing guidelines on Indian Direct Investment in JV/WOS abroad;

Utilisation of ECB proceeds is permitted in the first stage acquisition of shares in the disinvestment process and also in the mandatory second stage offer to the public under the Government’s disinvestment programme of PSU shares;

Utilisation of ECB proceeds is not permitted for investment in capital markets by corporates or for on-lending, except for cases mentioned in paragraphs 4, 6 and 7 above;

Utilisation of ECB proceeds is not permitted in real estate. The term ‘real estate’ excludes development of townships, housing, built-up infrastructure and construction-development projects as defined by Ministry of Commerce and Industry, Department of Industrial Policy and Promotion, SIA (FC Division), Press Note 2 (2005 Series) dated 3rd March 2005;

End-uses of ECB for working capital, general corporate purpose and repayment of existing Rupee loans are not permitted.

Guarantees

Issuance of guarantee, standby letter of credit, letter of undertaking or letter of comfort by banks, financial institutions and NBFCs relating to ECB is not normally permitted. Applications for providing guarantee/standby letter of credit or letter of comfort by banks, financial institutions relating to ECB in the case of SME will be considered on merit subject to prudential norms.

Parking of ECB proceeds overseas

ECB proceeds should be parked overseas until actual requirement in India.

Prepayment

Under the earlier guidelines, prepayment of ECB up to USD 100 million was permitted without prior approval of RBI, subject to compliance with the stipulated minimum average maturity period as applicable for the loan. It has now been decided to revise this upward to USD 200 million, subject to minimum average maturity of 5 years. Pre-payment of ECB for amounts exceeding USD 200 million or prepayment of ECBs with minimum average maturity of 3-5 years would be on the Approval Route.

Refinance of existing ECB

Refinancing of existing ECB by raising fresh ECBs at lower cost is permitted subject to the condition that the outstanding maturity of the original loan is maintained.

Foreign Currency Convertible Bonds (FCCBs)

The policy for ECB is also applicable to FCCBs in all respects, except in the case of Housing Finance Companies for which criteria will be notified by RBI.

The Government last amended the ECB Policy in January 2004. It is regularly reviewed in consultation with the Reserve Bank of India keeping in view the current macroeconomic situation, challenges faced in external sector management and the experience gained so far in administering ECB policy. The amendments to the ECB guidelines will come into force from the date of notification of regulations/directions by RBI under the Foreign Exchange Management Act, 1999.