Carrier also announces plans to extend east and west in 2004
Dubai, May 2004 : SriLankan Airlines will begin flights to Calicut, the historical city in southwestern India, from July 1, becoming the first non-Indian airline to operate regular services to Calicut’s InternationalAirport.Calicut will be SriLankan’s tenth destination in India and will be serviced by four flights per week on Mondays, Wednesdays, Thursdays and Fridays. The 90-minute flight to Calicut, Flight UL169, leaves Colombo at 0900 hours and arrives in Calicut at 0950 hours. It begins the return journey as Flight UL 170 at 1050 hours and arrives in Colombo at 1240 hours (all times are local, with a half-hour difference between the two countries).G. T. Jeyaseelan, head of commercial, said: “We intend increasing the number of flights to Calicut in the near future, up to daily frequency. This is in keeping with our policy of having daily flights to as many of our destinations as possible.”With the launch of flights to Calicut, SriLankan Airlines will have 66 flights to 10 cities in India, after New Delhi, Bombay, Madras, Bangalore, Trichy, Trivandrum, Bodh Gaya, Kochi and Hyderabad. The airline is committed to ongoing growth of its Indian network, with several more destinations set to be added in the near future.The Calicut flights will strengthen the age-old ties between Sri Lanka and the Malabar Coast of India, to which historians trace the origins of Sri Lanka’s last royal house, the kings of Kandy. A bustling city with a population of 800,000 in its metropolitan area, Calicut is the commercial capital of Malabar.SriLankan Airlines currently operates services from Colombo to 33 destinations in 21 countries, and future expansion plans call for additional flights to cities in India, as well as long-haul destinations like Beijing. In the Middle East, SriLankan operates to Dubai, Kuwait, Qatar, Oman, Bahrain and Saudi Arabia.SriLankan Airlines was established in 1999 after Air Lanka was privatised following a strategic partnership with Dubai-based Emirates Airline. The agreement saw Emirates take a 40 per cent shareholding in the company and undertake a 10-year management agreement, during which time SriLankan has been established as southern Asia’s preferred international carrier.
Following its transformation, SriLankan has won a string of international aviation awards including Best Airline in Central Asia from UK’s Skytrax Research for four years in a row, (2001, 2002 and 2003 2004), underlining its new reputation as a world-class carrier.
In 2003, SriLankan was voted as having the friendliest cabin crew by Skytrax in the same year, and also won the award for Best In-flight Entertainment (for a fleet size of 20 or less) at the annual World Airline Entertainment Association’s Avion awards in the USA.
Doha Indian Club Cooking Competition held
by Sapna Anu B George
DOHA - May 7 2004 The Indian Club Qatar- Ladies Wing conducted a cookery competition on Saturday 3 rd of April which brought in Talent, Creativity, and Taste. As it is very rightly said Enthusiasm leads to initiative, the overall participation of the members and contestants to focus on turning the competition into a total quality one was visible at all fronts.
The Banquet hall within the club was transformed, to blend with the concept of the cooking competition ‘Taste so Fine.’ The Competition was divided into 3 Categories, which were ,Sweets and Dessert, Vegetarian Rice and Non-Vegetarian Rice The participants within the Category of Sweets and Desserts outnumbered the other two put together. Such was the quality in Talent, Creativity of Display, and Taste, that this cookery competition focused and aligned with the Concept ‘Taste So Fine’.
Three able and competitive chefs, who were specialized within the three Catergories, in which the contestants participated, judged the competition. Mr. Tony Mathew, who is specialized in the Confectionary segment, Mr. Anand Sing Rana, a specialist in Italian cuisine is a Chef from “The inter continental Hotel” and Brijesh Mishra, from “The Garden” were immensely impressed, with the overall outlook, and quality of the competition.
It was rather a difficult situation for the judges, to finalize the winners, in view of the excellent Taste, Display, and Talent. On the announcing the winners, there was a thunderous applause for contestants: winners were - Under sweets and desert category, Mrs.Vigitha Mathew(1st prize) Beena Nair (second prize), the vegetarians rice category we had Mrs.Durga Bai(1 st prize) and Mrs. Noopur Banerjee(2 nd prize) and finally the non vegetarian category, we had Mrs. Sheila Jishu (1 st prize) Mrs.Safia Majeed in (2 nd prize) The competitions was sponsored by the Transind Company, which provided adequate support and encouragement to the Club, and the overall success, of the cookery competition. The Ladies Wing takes this opportunity to thank the sponsor for the overwhelming services rendered.(keralamonitor.com) More Photo
India in Debt Trap Again, Says Pravasi Bandhu
India had again fell in to the trap of another loan deal of $4b with World Bank for major road linking program called India Connect. Whenever India borrow from WB it always with strings, demands and compulsions and unreasonable interest rate of many fold of current LIBOR. India’s foreign currency reserve has reached its peak with US$120b this week out of which major portion is the remittance of Non Resident Indian workers'. Last year overseas Indians sent home $20 billion, a new high, making India the highest recipient of worker remittances in the world, in which 60% is from remittance of Indian workers from UAE alone. A study reveals that 65% remittance from UAE is from small income groups. Low-income workers remit their monthly saving religiously to home for the livelihood.
The Pravasi Bandhu Welfare Trust, a charitable organization had conducted a study on the income profile, family status, frequency of remittance, saving and spending habits and their dependents, resettlement prospects, etc of NRIs among 10100 middle-income NRIs living in Gulf countries. The most important observation of the study was that the middle-income NRIs in the Gulf sacrifice even their basic necessities, leading a life of deprivation for the sake of their families back home. They work hard in extreme climates, saving and remitting maximum possible funds to give a good life to their families. Only two per cent of the families are saving from remittance. Even though 98 per cent agreed that lifestyle of their families had improved, only five per cent felt they could lead a comfortable life when they go back for good to India. We are witnessing thousands of Gulf returnees wandering and suffering on lack of resources in India.
In these circumstances, instead of borrowing from World Bank, the country must introduce a scheme to borrow from its won citizens working abroad for infrastructure development. That scheme must be a regular small deposit for long duration. NRI could contribute a portion of the remittance to this scheme automatically from NRE account. This scheme will be great shelter when they go back for permanent settlement.
Thank you
K V Shamsudheen Chairman
Seychelles invites investment into its Tourism Sector from Middle East
Seychelles invites investment into its Tourism Sector from Middle East investors Albwardy Investment to develop exclusive resort in Seychelles May 06, 2004 Albwardy Investment one of Dubai's leading investment groups are in the process of building a 5 star deluxe, 55 Suites and 19 Villa Resort situated on the Seychelles main island of Mahé on the magnificent Petite Anse. This was announced at a Press Conference hosted today (Thursday, May 6, 2004) by the Seychelles Tourism Marketing Authority (STMA). The resort, which is due to open in 2006, is in the final stages of negotiation to be operated by Four Seasons Hotels & Resorts.
"The Seychelles offers an ideal opportunity for UAE and other Middle Eastern Investors to develop Tourism related projects in this magnificent Indian Ocean cluster of islands, especially in the upmarket resort category," said Mohamed Al Geziry, Director, Seychelles Tourism Office Dubai. "The Seychelles Tourism sector has two overwhelming advantages. The first is the idyllic natural beauty of tropical islands and the other is a well-focused and pro-active tourism policy seeking to further develop this sector important to the country's economy. In combination these two factors, will provide a good return on investment to new investors entering this vibrant market."
"The Seychelles Tourism Marketing Authority, as a joint public and private sector entity, has further boosted the growth of tourism in the country. As an autonomously operating body, it has developed a marketing approach that is best suited to the needs of the market. With a keen understanding of market dynamics, STMA facilitates the process of investment into the tourism sector for foreign investors," explained Al Geziry. The new resort being developed by Albwardy Investment is situated in a prime location with a majestic backdrop of Mahé's granite mountains. It promises a breathtaking view of the Petite Anse bay and will offer exclusive accommodation in discreet and private villas and suites, all with private swimming pools. The resort will offer an exquisite high quality International cuisine, which will cater to the most discerning traveller.
The resort will also feature a wonderful spa to provide the ultimate in pampering and personal renewal with its spa offerings. A broad range of treatments will be specially designed to fulfill specific needs (e.g. to counter jet-lag, to relieve aching joints, to build muscle tone or eliminate skin toxins) which can also be offered in the guest villas or suites for total privacy. Besides the resort being developed by Albwardy Investments, another important addition to the Seychelles' tourist destinations will be the elegant eco-sensitive resort on Poivre Atoll developed by LCP Developments (Pty) Ltd. Situated in the Amirantes group of islands, approximately 300 kms from Mahé, the atoll's breathtaking land and marine environment will offer its guests a unique experience in the form of a marine safari adventure combined with exquisite comfort focused on individual needs.
This heavenly tropical hideaway will consist of twenty luxury villas, ingeniously designed to create the atmosphere of an elegant ocean-going yacht. The peacefulness of this idyllic retreat will be enhanced by various spa and health facilities, while more actively-inclined guests may indulge in marine adventures such as diving, sailing, big-game and fly-fishing, or simply explore the unspoiled beauty of the Poivre Atoll by land or by sea. The resort is slated to open in July 2005. Another international hotel chain of global renown, the Hilton Group is also set to open a resort on Platte Island in 2005. In fact, in 2003 Seychelles has added several new and unique hotels to its current portfolio. These include the Cerf Island Marine Park Resort, the Wharf Marina Hotel, and the exclusive North Island Resort, a luxurious 5 star property set along the eastern side of this 'Robinson Crusoe' island, created around the ethos of turning the environmental clock back 200 years. Many existing hotels have undertaken major refurbishment, upgrades and extensions such as the remodelling of Le Meridien Fisherman's Cove which will open in June this year. Also underway are the remodelling of Le Meridien Barbarons; the upgrading of Le Northolme to a 5 Star property, proposed to be completed January 2005; Alphonse Island Resort; Beach Front Extension; New Bar & Lunch Restaurant and an addition of 10 New Hill Villas to the Banyan Tree Resort.
NEW US $430 MILLION SHIPPING JOINT VENTURE SETS SAIL
[Dubai, May 6, 2004] - GEM – Gulf Energy Maritime PJSC – is a new $430m joint venture shipping company, launched today.The venture, headquartered in Dubai, is 35% owned by Emirates National Oil Company (ENOC), 30% by Abu Dhabi-based International Petroleum Investment Company (IPIC), 30% by Oman Oil Company and 5% by Thales, under the UAE Offset Programme.With an initial fleet of two Double Hull Panamax vessels and four new building of Panamax size, being built by Hyundai Heavy Industries and to be delivered by 2005, the company is set to fill an expanding global niche for independent clean petroleum transportation, as global shipping laws outlaw existing single hulled ships.ENOC Group Chief Executive and Board Member Hussain Sultan said: “With the launch of this clean petroleum product tanker company, we are heralding a new era in environmentally friendly, high quality and commercially-driven shipping in the region.”GEM will initially only transport ‘clean petroleum products and easy chemicals’, including naphtha, kerosene, MTBE, methanol, jet fuel, MOGAS, and other hydrocarbons.
“Gulf Energy Maritime will be a reliable transporter of clean petroleum products and easy chemicals, operating in an environmentally aware and commercially viable manner,” said Sultan .
“We will certainly enjoy market advantage with our fleet of brand new double-hulled ships, and with additional modern acquisitions we will be among the top independent tanker companies in the world. This is a great window of opportunity for us to assume a leading role in the global shipping lanes,” he added.Gulf Energy Maritime intends to operate vessels in a portfolio of long, medium term and spot charters to minimise risk while benefiting from spot market spikes.Industry commentators speaking at events such as Intertanko – held for the first time in Dubai this year – predicted that Dubai will assume increasing importance as a global shipping hub, and the four companies behind the enormous joint venture clearly believe this prediction.“The GEM investment represents a double first for IPIC, marking IPIC’s first participation in the shipping sector, and its first investment in a UAE-based joint venture. IPIC is convinced that the combination of a compelling business model, a strong shareholder group and top quality management will bring enduring success to GEM,” said Mohamed N. Al Khaily, Managing Director, IPIC.
GEM will be staffed by industry professionals and an experienced team, with a strong emphasis on recruiting and training GCC national employees. GEM will aggressively target international best practice standards for every phase of its operations. The first Chairman will be Hussain Sultan. “The joint venture will operate under a prudent financial strategy” explained Sultan. “Similarly, a formal risk management strategy will be adhered to in areas of financial exposure. Our dividend policy will be conservative with priority being given to long term business growth for shareholders.GEM will be managed as a stand-alone entity independent of share holders. “Shareholders however, have access to significant amounts of potential cargoes,” said Sultan. “This, coupled with access to competitive finance and the fact that we will be operating from the tax free low cost environment of the UAE, are competitive edges that Gulf Energy Maritime has when benchmarked against other industry players.”Oman Oil Company welcomed participation in Gulf Energy Maritime.“This project is in line with the clear objectives OOC has set out to achieve from its international investments. Our interest in this particular venture is strongly linked to the growth in the production of clean projects in the region and the subsequent need for more independent shipping capacity. We are also excited about the opportunity to partner with two well respected GCC companies in ENOC and IPIC as well as with Thales of France,” said Ahmed Al Wahaibi, Deputy CEO, Oman Oil Company (OOC).
avier Thuriot, Chairman & CEO of Thales International Middle East, added: “The participation of Thales in this project is fully in line with our long-term commitment to the UAE. Through the country’s offset programme, we are proud to contribute to the creation of a UAE company able to provide competitive solutions at international standards.”The UAE Offsets Group (UOG) has also signalled its commitment to the project. “We support and promote all joint ventures that play a role in developing and diversifying the UAE economy and bring new expertise and technology to the country,” said Hatem Fawzy, Director, Offsets Ventures.GEM is already eyeing future opportunities, with Hussain Sultan hinting that the company may well transport LPG in future. It plans to expand its fleet, growing it with the business as and when opportunities arise. Founder financiers of this world class company are Abu Dhabi Commercial Bank, Emirates Bank and Mashreqbank. Legal counsel involved are Hadef Al Dhahiri and Associates and Norton Rose.