Gulf News -- June 24, 2009
- Iran arrests 5 European spies: report
Iran accuses VOA, BBC of stirring up post-election unrest- Iran lashes out at Western interference in election affairs
- Iran arrests reporter working for U.S. media
Flydubai cancels Indian flight plans- “flydubai had planned to begin operations to India with flights to Lucknow on July 13, Coimbatore on July 14 and Chandigarh on July 23, however, due to operational issues, we have had to delay these flights. “We understand that this is very inconvenient for the passengers who have booked flights with us to India and we apologise for the disruption and disappointment caused.
“All passengers who have booked flights to India will be contacted within the next few days and will be given a full refund, plus a voucher for a free return flight to India or anywhere on the flydubai network, which will be valid for travel until the end of November 2009. “India remains an important market for us and we will make an announcement in the very near future on when our flights to the region will begin.” For passengers needing more information please contact our call centre on +9714 3010800 or www.flydubai.com- Source of Funds and Wealth of Iranian, North Korean Customers under Scrutiny in the Gulf financial markets.
The Gulf countries are tightening money laundering rules and terrorism finance rules and the dealings with leading Iranian banks and financial institutions like Bank Melli Iran and Bank Sederat are closely monitored by the regulators. On Tuesday, the the Dubvai Financial Services Authority (DFSA) has advised all the senior executive officers of DFSA authorized firms and service providers operating in Dubai International Financial Centre (DIFC) to comply with the United Nations Security Council sanctions that prevents obtaining funds from companies and banks from the Democratic Peoples Republic of Korea and financial institutions from Iran especially Bank Melli Iran and Bank Saderat and their subsidiaries. Paul M Koster, Chief Executive Officer DSFA said in letter to all the CEOs that the DFSA is concerned that fights in the UAE fight be tempted to obtain funds from inappropriate sources.
The CEO said in a circular: “This letter should serve as a reminder of the DFSA’S anti money laundering Rules, legislation governing anti money laundering and counter terrorist financing for the UAE as a whole, relevant to UN Security Council sanctions and anti money laundering and combating financing of terrorism recommendations of the Financial Task Force.” He said the National Anti Money Laundering Committee of the UAE also emphasized these cautionary points.
Paul said that on June 12, 2009 the UN Security Council through a resolution imposed tougher sanctions on the Democratic Republic of Korea which included tighter restrictions on the provision of financial services) grants, loans or financial assistance of any kind) that could contribute to the DPRK’s weapons of mass destruction programme or activities. All firms and service providers should ensure that the UN resolution is properly captured in the anti money laundering and counter financing terrorism programmes. He said the UNSC Resolution number 1803 (March 3, 2009) calls upon all states to exercise vigilance over the activities of financial institutions in their territories with all banks domiciled in Iran, in particular with Bank Melli and Bank Saderat, and their branches and subsidiaries abroad, in order to avoid such activities contributing to the proliferation of sensitive nuclear activities or to the development of nuclear weapon delivery systems.
The CEO goes on to remind companies to follow the FATF task force guidance on implementation of financial provisions of UN Security Council Resolution 1803 to assist jurisdictions in implementing the financial provisions of and implement counter measures that the international community considers as a risk presented by FIS from Iran. The CEO added that firms in the UAE are obliged to obtain and make appropriate user of the UNSC’s resolutions and sanctions. “Failure to implement systems and controls to comply with UNSC resolutions and sanctions is a serious offense that will result in swift and appropriate action by the DFSA. Firms are also reminded of their compliance and reporting obligations in relevant laws addressing AML/CFT issued by the UAE authorities.
Recently, the DSFA reviewed a representative cross section of firms, especially the company’s systems and controls in place for customer due diligence and Know your customer. KYC procedures are a critical element in protecting the reputation and integrity of the Dubai International Financial Centre against money laundering and terrorist financial activities. KYC rules should constitute an essential part o risk management process for any firm in the DIFC. Firms are also advised to conduct due diligence on a regular basis in respect of their clients and transactions undertaken. Firms normally keep records verifying the identity of clients and this can be improved by getting documentary evidence in relation to the origin of funds and source of wealth. A letter from the customer self certifying the origin of funds and source of wealth is not enough documentary evidence to support the origin and source of funds. For instance, a firm should obtain for an individual, a certified copy of a salary certificate or bank statement. Even for existing clients, companies are advised to follow the due diligence rules and to know the source of wealth and funds. The letter said companies should review their AML systems and controls. Firms should actively monitor compliance with DFSA Laws and Rules.
EIAST UAE engineers prepare for shipping DubaiSat-1 to launch base in Kazakhstan
Dubai, June 20, 2009: The Emirates Institution for Advanced Science & Technology (EIAST) announced that the UAE engineers and scientists have completed the final preparations on DubaiSat-1, which is due to be launched on board a Russian Dnepr rocket on July 25, 2009. Final tests and equipment safety preparations have been completed successfully and the UAE team are currently preparing to ship DubaiSat-1 from the factory in Korea to its launch base in Kazakhstan. DubaiSat-1, which is a stepping stone in the UAE’s attempt to create a sound infrastructure that enables the collection of space and earth observation data for the comprehensive development of the nation, highlights the commitment of EIAST to create a knowledge based economy.
Ahmed Al Mansoori, Director General and Vice Chair of the Board of Directors, EIAST, said: “The successful completion of the final stages of DubaiSat-1 by the team of UAE national experts including engineers and specialists working on the project, have underscored the reputation of the UAE as a key player in space research. We are glad that our youth is part of space technology research, a testament to the tremendous talent amongst UAE youngsters.”
“The development of a satellite is a very complicated process and what we have achieved so far can be attributed to the hard work and dedication of our engineers and scientists. DubaiSat-1 will undoubtedly be a sterling addition to the UAE’s strategic accomplishments,” Al Mansoori added. The launch of DubaiSat-1 consists of three segments; space, ground and actual launch. The ground segment comprises mission control station, image receiving and processing station, and antenna and RF subsystem. Images from DubaiSat-1 can be used for many applications such as urban development, scientific research, telecommunications, transportation, civil engineering & constructions, mapping and GIS.
EIAST is currently focused on research in four areas: observation and fog forecast; use of satellite pictures in predicting sand storms; quality of water in the Gulf region - especially the effect of waste distillation in environment and marine life surrounding the oceans existing in the UAE; and ways to improve the clarity of satellite pictures. Established by a Dubai Government decree in 2006, the Emirates Institute for Advanced Science and Technology (EIAST) is a strategic initiative launched to promote scientific innovation and advanced technology in the UAE and the region.
EIAST’s primary roles are to promote the culture of advanced scientific research and technology innovation in Dubai and the UAE, create an internationally competitive base for human skills development, position Dubai and the UAE as a science and technology development hub among advanced nations, and establish international collaborative links and joint projects with industry and research organizations.
EIAST introduces three programs; the space, energy and astronomy programs. The space program includes three main themes: earth observation, satellite navigation and satellite communications, and the energy program aims to develop renewable and sustainable energy and water sources for Dubai. The astronomy program includes “Emirates Telescope” project, which is aimed at improving science and astronomical infrastructure, scientific knowledge transfer to UAE nationals, and raises public awareness and enthusiasm for astronomy.
15 June, 2009
Debut Flight of Luxury Phoenix CRJ
Project Phoenix cheered the first flight of its high specification Phoenix CRJ No 1 (Serial No 7211) on 12th June 2009. The aircraft took to the air for 1 hour 10 minutes from completion centre Flying Colours’ facility at Peterborough, Ontario. Captain Larry Ross (test pilot) reported a faultless flight saying, “The aircraft handled and performed perfectly with all systems and avionics operational. Our flight engineer reported an extremely quiet cabin.” The aircraft’s elegant, new 15 seat luxury interior includes a state-of-the-art cabin management systems and IFE, with Airshow 4000, ipod stations and full internet and SatCom communications. The aircraft with its clean and stylish interior has been well received by both owner Ritz Pacific and Jet Asia (which will fly the aircraft on its AOC).
Especially pleasing is the aircraft’s operating weight. The Phoenix CRJ will have a payload of more than 1,200lbs with full fuel including the long range auxiliary tank – which equates to six passengers; compared to Bombardier’s CL850 which has a full fuel payload of less than 200lbs (approximately one passenger) with the same high specification. “This is extremely gratifying news and pretty much what we predicted. Well done to Flying Colours for their weight reduction program.” said Project Phoenix President and CEO Mike Cappuccitti. Phoenix CRJ No 1 has been fitted with Flying Colours own long range fuel tanks, providing a maximum range in excess of 3,000 nm and giving US coast-to-coast capability. Project Phoenix worked with Skyservice at Toronto Pearson Airport on an extensive maintenance program and with Flying Colours of Peterborough for the interior and completions process. The aircraft will shortly enter service with Jet Asia in Macau.
Project Phoenix is an aircraft conversion program focused on the Bombardier CRJ platform. Composed of aeronautical engineers, technicians, designers, and project management specialists, the Phoenix team has managed over 100 aircraft completions. The Phoenix team provides personal service in managing the customization of personal jets. Project Phoenix is led by Mike Cappuccitti, President and Kevin Hoffman, Chairman, veterans of Bombardier. More information on Project Phoenix and its conversion program can be found at www.projectphoenixaircraft.aero.
eJet Services Ltd. is the maintenance and operating subsidiary of eJet Aviation Holdings, a US-based corporation focused on supporting airliners converted to private jets. eJet was founded in early 2008 by aviation veterans and is based in Dallas, Texas. eJet Services launched support for CRJ and Challenger 850 aircraft in November 2008, offering unlimited access to 24/7 technical, engineering, maintenance and parts support on a global basis. In partnership with Lufthansa Technik and other global companies, eJet delivers to private owners a comprehensive network of suppliers with fleet-based cost-per-flight-hour pricing. More information on eJet and its services can be found at www.flylarge.com.
