KERALAMONITOR.COM Ducab share Joint Manufacturing Industry Sector Award with DuPont--Israel launches Ofeq-5 Military Satellite--Middle East Linux experts--vendors unite for landmark event in Bahrain--It's Dubai Bank, says Emaar--Joseph Ghossoub re-elected Mideast & Africa Area Director of International Advertising Association
New home financing scheme for nationals, expatriates and foreign investors inthe UAE
Freehold offer on real estate in Dubai Dubai, June 2, 2002: AMLAK, the UAE's first and only dedicated mortgage company, today announced a home financing scheme which is unmatched in the UAE market. Now UAE Nationals, expatriates and foreign investors can finance homes in Dubai and avail of up to 90 per cent finance of the property value. The maximum loan amount of AED 5 million per individual and the tenor of 25 years makes this offering unique.
AMLAK introduces new home financing scheme for nationals, expatriates and foreign investors following freehold offer on real estate in Dubai. Seen here: Mohammed Ali Al Hashimi, General Manager, AMLAK (keralamonitor.com photo)
Currently, while UAE and GCC nationals can purchase property in Dubai, projects such as Emirates Hills, Dubai Marina, and The Palm now allow for freehold ownership and cater to the expatriate population.
Mohammed Ali Al Hashimi, General Manager of Amlak Finance said: "The recent announcement of the freehold ownership for expatriates has further boosted investor confidence in Dubai's real estate sector and sparked growth in the uptake of mortgage products offered by Amlak Finance. In line with this, we at Amlak Finance have created a truly value-packed offer at very competitive interest rates.
Our vision is to be the leader in real estate financing and be recognized as a specialized property finance brand constantly innovating and adding tremendous value to our customers. AMLAK's goal is to make the dream of home ownership a reality for all nationalities within or outside the UAE."
Founded in the summer of 2000, Amlak Finance is the first mortgage company in the Gulf bringing with it a totally new concept to the region, but one that is universally accepted around the world as the foremost method of purchasing residential property.
Amlak Finance, which is wholly owned subsidiary of Emaar properties, not only provides a natural extension to Emaar's business, but also serves the resident property market as a whole including the Palm Island developments, filling a vital gap in the range of financial services available to potential homeowners.
In addition to mortgages for all nationalities, Amlak Finance offers a range of financial products and services available to only UAE and GCC nationals. The first, named SAKAN, provides a one-stop shop for those who wish to build their own home in Dubai through a choice of 18 exclusive designs at a pre-set price whereby the construction is managed and overseen by Amlak Finance.
Financing is also offered to clients wishing to buy an established dwelling that is either residential or commercial of up to AED 5 million in value. Another option is to extend an existing housing loan from a bank and move it to Amlak Finance to reduce payments over an extended period of up to 25 years.
Amlak Finance has also recently launched a mortgage re-financing scheme for existing property owners where the land is freehold. This product allows an individual to raise funding up to 70% of the property value over a period of up to 25 years.
"All of our products are tailored to the needs of the individual by our team of professional mortgage consultants to ensure that their ideal property is realized in the most cost-effective and manageable way," added Al Hashimi.
"Potential customers can visit our office located in Gulf Towers behind the Wafi Center or browse our website on www.amlakfinance.com for further information on our products and services," he concluded.
Established in October 2000, Amlak Finance is the first financial services company in the region to specialize in the provision of mortgages. This company is a totally new concept to the Gulf, but one that is universally accepted around the world as the foremost method of purchasing residential property, providing a financial tool for simply and effectively bringing home ownership in Dubai. The company is majority owned by Emaar Properties, which was founded as a public company in 1997 with the ambitious goal of becoming the region's leader in property development and management of both commercial and residential property. (keralamonitor.com)
Israel launches Ofeq-5 Military Satellite
Jerusalem, 2 June 2002
Defence analysts see the launching of a high-tech military satellite by Israel as another destabilising factor for peace and security in the Middle East. The Israel Defense Minister Binyamin Ben-Eliezer and the Director of the Defense Ministry Satellite Authority briefed ministers on last Tuesday's successful launch of the Ofeq-5. The Defense Minister noted that the satellite is among the most advanced in the world, the fruit of an extraordinary technological effort by the IAI and other security industries, and is designed to carry out important national missions and contribute to the strengthening of Israel's deterrent ability.
The Director of the Defense Ministry Satellite Authority briefed ministers on details of the Ofeq-5 and its capabilities and showed a film of the satellite's launch. Prime Minister Ariel Sharon thanked the Director of the Defense Ministry Satellite Authority and all those who were involved in, and contributed to, the construction of the Ofeq-5 and its launch, and remarked on the importance of the Ofeq-5.
ISA Director Avi Dichter presented ministers with an assessment of the security situation since Operation Defensive Shield, and related to the scope of the attacks which have occurred and the casualties they produced, and the scope of the attacks which have been prevented by the security forces. The ISA Director commented on current warnings of attacks by all of the Palestinian organizations, with Fatah at their lead.
ISA Director Dichter remarked on the issues related to the projected reforms in the Palestinian Authority, briefed ministers on the Jewish cell which attempted to perpetrate a serious attack near an Arab school, and commented on the detention of a woman who pretended to be Marina Pinski. The ISA Director regretted the publication of Ms. Pinski's name, she not being connected to the attack in Rishon
Lezion, and said that the ISA is investigating the incident.Prime Minister Sharon, in commenting on ISA Director Dichter's review, referred to the absence of Palestinian counter-terrorist efforts and added that responsibility for Israel's security is on Israel alone. The Cabinet approved Defense Minister Binyamin Ben-Eliezer's recommendation that a Nahal outpost be established in the Iron area and authorized the Defense Minister to implement his recommendation. The Cabinet charged the World Zionist Organization Settlement Division with responsibility for planning and establishing the outpost. The establishment of the outpost answers the settlement needs of the Iron area and Samaria and strengthens the communities in the seam zone.(keralamonitor.com)
First Middle East Linux Event Opens
Middle East Linux experts--vendors unite for landmark event in BahrainManama, Kingdom of Bahrain, 2nd June, 2002 - The 'Ready for Real Business" Linux roadshow, hosted by IBM and featuring speakers and demonstrations of Linux technology from around the Middle East, opened today in Manama. This one-day exclusive event at the Holiday Inn Hotel, was held under the patronage of His Excellency Ali Saleh Al Saleh, Bahrain Minister of Commerce and Industry, who presented the opening address at the event. It was attended by top decision makers and senior executives from business and government, as well as independent software developers and solution providers from across the region.
IBM hosted this event in conjunction with its general marketing and services representatives, Gulf Business Machines (GBM) and Saudi Business Machines (SBM), with the participation of UBM.com from Jordan and QuanTech from Lebanon.
Present at the event were global Linux software vendors, regional business partners and a number of guest speakers from open source and computer societies from around the Middle East region, including: Bahrain IT Society, ACCPAC, AME Info, Intel, Red Hat (including "Red on Blue"), Sage, as well as IBM Linux Education offerings and software middleware solutions for this platform."IBM is profoundly committed to the open source movement and believes that Linux is already a key platform for e-business. By working with the open source communities, IBM is adding its relevant technologies and expertise to help enhance.
Linux, define standards and extend it to support more enterprise applications," said Farid Metwaly, general manager, IBM Middle East, Egypt and Pakistan. "This roadshow is a great opportunity for the growing community of Linux developers and adopters in the region to get together and share knowledge: to strengthen the commitment of those who have already embraced open source software by bringing them together with their peers who share a common strategy."
The 'Ready for Real Business' Linux provided live demonstrations of integrated Linux solutions, as well as a special focus topic of Linux in the oil sector and the Arabisation of Linux. The roadshow also showcased solution providers and system integrators from the Middle East - the people whose skills help enable organizations to create tightly integrated, customized solutions that answer their business needs and provide a real and measurable return on investment.
IBM has been proactive in increasing the profile of Linux, both globally and regionally. Last year, IBM announced its plans to dedicate nearly $1 billion and 1500 in-house developers to its Linux initiative. IBM also extended its commitment to Linux in the region, establishing a large Cairo-based development team to work on Arabising Linux.(keralamonitor.com)
New corporate identity reflects simplicity, clarity & transparency
Dubai, June 1, 2002: It has been announced today that the new bank to be launched by Emaar Properties later this year will be named Dubai Bank. Announcing the launch of the name and the logo, Chairman of Emaar Properties Mohamed Ali Alabbar said: "The name reflects the bank's positioning as one of the key drivers of the financial sector in Dubai. Our vision is to build an iconic status for the bank and its association with the success of Dubai."
"Dubai is a city with enormous potential for growth and we believe that Dubai Bank will help to establish the financial landscape for the future. We are very proud to announce the name and identity of Dubai Bank which was chosen after extensive research to be synonymous with the modernity, innovation and excellence that Dubai stands for," Alabbar added.
"We believe that the brand personality is built from a combination of many different elements - the name, symbol, choice of colours and typeface - which together symbolise the core values of simplicity, clarity and transparency that Dubai Bank represents," said Alabbar.
The identity of Dubai Bank is a combination of a simple, clean typeface in English together with a stylised calligraphic treatment in Arabic. The colour blue was chosen for its association with banking in the region as a "category colour" and its connection with rational side of the mind in colour psychology. The calligraphic treatment in gold represents prosperity and creates a strong contrast with the blue making it an easily recognisable icon in the cluttered banking marketplace.
The launch of Dubai Bank is expected to be a milestone in the Dubai's drive towards setting new standards in the financial sector. The bank plans to be a world-class provider of financial products and services focused on customer quality thereby differentiating itself from others in the sector.
"Our vision is to be a leader in the regions banking sector and be known as a truly breakaway brand and a catalyst for change, bringing with it new products and services not yet seen in the region," explained Ahmed Bin Brek, the Bank's Chief Executive.
"Currently the UAE banking sector consists of 47 local, regional and international companies which are sometimes seen as price-driven and offer unclear commission structures. The opportunity for Dubai Bank therefore lies in establishing credibility, trust and reliability and introducing innovative products and services backed by superior customer support," said Bin Brek.Dubai Bank has been created to reflect the modern image and potential of Dubai as it continues to develop into a world-class commercial and financial hub. The development of entities such as the Dubai International Financial Centre is part of far-reaching plans to establish Dubai as a centre for financial excellence and a city synonymous with strong investment potential, on par with leading global commercial centres such as Hong Kong and Singapore.
Dubai Bank will be involved in all aspects of the banking business and offer products and services for both individual consumers and corporations. This will be implemented through a number of different delivery vehicles, including traditional branches and remote banking facilities such as the internet. Technology will be a strong enabler, as will adherence to international best practices that will establish Dubai Bank as a world-class institution synonymous with modernity, excellence and innovation.(keralamonitor.com)
Ducab awarded international safety award
Ducab share Joint Manufacturing Industry Sector Award with DuPont
June 2, 2002
Picture Caption: Lord Faulkner of Worcester, President of RoSPA presenting the Joint Manufacturing Industry Sector Award to Graham Cheetham, General Manager (Manufacturing) Ducab and George Frank, Training Officer and Safety Advisor, Ducab at a ceremony in Birmingham, UK.
Dubai Cable Company Ltd (Ducab) has recently been awarded the Joint Manufacturing Industry Sector Award of the prestigious Royal Society for the Prevention of Accidents (RoSPA) Occupational Health & Safety Awards for 2002. Ducab shared the award this year with DuPont UK Ltd., beating hundreds of other manufacturing firms.
The award was recently presented by Lord Faulkner of Worcester, President of RoSPA, at a ceremony held in Birmingham, UK. Graham Cheetham, General Manager (Manufacturing) Ducab and George Frank, Training Officer and Safety Advisor, Ducab, received the award on behalf of Ducab.
"The receipt of this prestigious award by Ducab is a landmark achievement for the young but rapidly progressing manufacturing industry in the UAE. The RoSPA award is an acknowledgement of the fact that despite its late entry into the scenario, the manufacturing industry in the UAE has set itself exacting standards of safety and occupational health, comparable to those with the best in the world," said Colin J. Paskins, Managing Director, Ducab. "Ducab has built up its consistent and excellent safety record with the rigorous implementation of a stringent health and safety policy and we have already established a name for ourselves in the region. Recognition of our exceptional standards from a renowned authority like RoSPA, is indeed a prestigious honour as it catapults us on to the international stage on par with the best companies worldwide."
The award is a culmination of the many Gold Awards that Ducab has been receiving from RoSPA year after year for the last ten years since 1990. It is also a natural progression from the President's Award that the company received in 2000, in recognition of consistently high standards in occupational health and safety and the commendation it received last year. Since 2001, Ducab has started benchmarking safety management systems against global standards in the manufacturing industry, another major step towards achieving high levels of occupational health and safety. The company has benefited considerably from this move as it has generated immense confidence among the staff and has resulted in the creation of a loyal and productive workforce.
"Ducab has taken great strides in developing what was already recognized by RoSPA as an excellent health and safety management system, and it is so pleasing to have our efforts honoured through this prestigious award," said Paskins. "Recent measures include issuing a new Health and Safety Policy, publication of Safety at Work booklet and increased emphasis on health and safety training and assessment."
Graham Cheetham, General Manager (Manufacturing) said RoSPA took several different parameters into consideration while assessing the entries for the Manufacturing Industry Sector Award, including accident rate, safety & health policies, measures for accident prevention, the ratio of accidents to employees and new initiatives for the promotion of safety within the community.
"It is indeed a great honour to have won the award against such stiff competition from some of the world's greatest companies," said Cheetham. "It is a reward for the high priority Ducab has attached for occupational health and safety. Since the implementation of the new safety policy, Ducab has been able to reduce the number of injuries from 17 in 1993 to just seven minor injuries in 2001 despite extensive expansion schemes and increased labour force in the company."
The RoSPA Occupational Health & Safety Awards are not just about reducing the number of accidents and cases of ill-health at work; they are also about ensuring that organizations have good health and safety management systems in place. They help reinforce the message that good health and safety is good business and clearly demonstrate an organisation's commitment to the achievement of high levels of performance in this crucial area.(keralamonitor.com)
Joseph Ghossoub re-elected Mideast & Africa Area Director of International Advertising Association
Dubai, 1 June, 2002: Joseph Ghossoub, a key member of the Middle East's burgeoning advertising industry, has been unanimously re-elected Vice President and Area Director for the Middle East and Africa Region on the world board of the International Advertising Association (IAA).
This elections took place at the recently concluded IAA World Congress, held in Beirut, Lebanon, on May 22-24, 2002. The role encompasses one of the IAA's four global directorships, with the other three covering Europe, America and Asia Pacific.
Ghossoub, who is Group Executive Vice President of TEAM Holding Group, the Middle East's leading communications enterprise, was first elected to the post in 2000. Ghossoub has served as President of the IAA UAE Chapter since 1995, during which time he has helped to promote the UAE as a regional hub for advertising excellence, and was elected to the IAA World Board and the IAA World Council in 1996. Ghossoub said: "It is a great honour to receive the support of my peers and colleagues within the industry, and I am delighted to have been given this opportunity to continue my role on the IAA world board. (keralamonitor.com)
