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Abu Dhabi urged to press ahead with projects
Habtoor Leighton is rescheduling payments to troubled developers, including Dubai Holding’s Dubai Properties. Habtoor Leighton is part of an international consortium building a segment of Dubai airport’s Terminal 3, and is embarking on arbitration with the civil aviation authority over a Dh2bn-Dh2.5bn
Abu Dhabi Municipality set to unveil development plans at PPP Middle East
The government of the Municipality of Abu Dhabi has voiced its strong support for the upcoming PPP Middle East conference, due to take place at the Hilton Abu Dhabi this January. The event will not only cover the future development of PPPs in the region but will also have a specific focus on procurement projects in Abu Dhabi.
Italian consortium wins $900 million UAE rail deal
Etihad Rail plans to spend nearly $11 billion in the coming years to provide freight and passenger services throughout the country. Early stages of the project are concentrated in oil-rich Abu Dhabi, the federal capital and the country’s largest emirate.
International Jewellery and Watch Show – Abu Dhabi 2011 concludes successfully
The 19th edition of the International Jewellery and Watch Show (JWS) – Abu Dhabi, the region’s premier jewellery and watch event, concluded having received thousands of visitors over five days. The exhibition saw 140 exhibitors from 18 counties presenting their latest and most unique line of designs.
IMF chief set to attend GCC finance summit this month
The GCC meeting will be attended by ministers of finance and economy to discuss important issues that include a railway network, customs tax and duty exemptions on national products.
The six states entered into a customs union in 2003 by simplifying import duties. However, the customs union continues to face problems in collecting duties. Al Khoury said that there will be a specialised authority to take care of customs in the GCC, which will be in charge of collecting custom duties and distributing revenues among the member states.
Follow up
Delegates will also follow up on the progress of implementing the decisions and plans made by different financial and economic committees, such as the Committee of Governors of Monetary Agencies and Central Banks, the Customs Union Committee, and the team tasked with preparing and participating in cooperation meetings and discussions with the European Union (EU) and other countries and financial institutions, Al Khoury added.
He said that the undersecretaries had also recommended the formation of a judicial economic authority which will group experts in the judiciary and economic fields to be responsible for all such issues.
“We also highlighted the importance of [a] railway [network] among the GCC states, which will help the access and transportation of citizens and expats,” Al Khoury said.
He explained that the unified currency will be discussed by the central banks governors of the four countries which signed the agreement to have the unified currency — which are Saudi Arabia, Qatar, Kuwait and Bahrain. The UAE and Oman are not party to this agreement.
Officials also evaluated the initiatives proposed by the GCC to the World Trade Organisation (WTO) and discussed joint GCC investments in the field of education and health.
Al Khoury added that the meeting’s agenda also includes a review of key achievements made by the Gulf Common Market Committee, the financial and technical team tasked with finalising studies regarding the railway project, and the team concerned with researching and studying the economic judiciary system.
The October summit will discuss the initiatives proposed by the GCC to the World Trade Organisation (WTO) and the recommendations raised by the undersecretaries of ministries of finance. The GCC meeting will be attended by ministers of finance and economy to discuss important issues that include a railway network, customs tax and duty exemptions on national products.
Dh30bn investment in parks, playgrounds planned for three cities
Three communities will have new parks, playgrounds and landscaped areas as part of a Dh30 billion investment. Mohammed bin Zayed City and Khalifa cities A and B will have new kerbs and pavements, street lights and greenery added over the next 10 years.
Qatar contracts to be awarded in July 2012
Qatar Railways Co, or QRail, the operator of the Gulf State’s planned QR130bn ($36bn) rail network, will award the first construction contract on the project in July next year, the company’s deputy chief executive said yesterday.
Abu Dhabi Statistical Yearbook – 2011 released
Statistics Centre – Abu Dhabi (SCAD) has recently released the electronic version of the Statistical Yearbook of the Emirate of Abu Dhabi – 2011.
Non-oil drove Abu Dhabi’s GDP growth last year
Non-oil activity was the biggest driver of Abu Dhabi’s GDP last year despite rising oil output, signalling the emirate’s mission to diversify its economy is bearing fruit.
More to a city than just motorways
In a country with a strong driving culture like the Emirates, a “walkable neighbourhood” might sound like an oxymoron. But take a stroll down Hamdan Street in the early morning, saunter along the cafes on Jumeirah Beach at lunchtime or explore Sharjah Corniche in the twilight.
