Month: February 2008
If REPL offers 1:1 bonus, what would your gains be?
If REPL offers 1:1 bonus, what would your gains be?
By Shravan Sreenivasula, CNBC-TV18
Reliance Power is considering bonus issue to all its shareholders excluding promoters. That is, the bonus issue will be for non-promoters.
Non-promoters’ holding is about 22.8 crore shares. The public shareholding is 10.1%. The market is expecting the bonus issue to be at around 1:1 or 1:5 ratio, which means one bonus share for every share that a person holds or one share for every five shares that a person holds. Considering that ratio in our analysis, the public stake holding will go up from 10.1% to anywhere between 11.9-18.3%.
The cost of acquisitions may come down. If one looks at the QIB portion which is subscribed at about Rs 450, will come down to about Rs 375, if the ratio is 1:5; will come to Rs 358 from Rs 430, in case of retail investors.
In case of 1:1 ratio, then it will be Rs 225 for QIBs and Rs 215 for retail investors. If one takes a scenario where the current share price is held – around Rs 420, then the QIB portion will make a profit of about 10%, if the ratio is 1:5 and retail investors would make about 15% if the ratio is 1:5. But if the ratio is 1:1, they will make a huge profit – about 70% in case of QIBs and about 78% in case of retail investors.
But would the price be Rs 420? Maybe not. If one is reminded of last week, many people were talking of Rs 340 or Rs 350 to be the equilibrium price for the stock. So if one considers that particular thing, the profits for people would boil down to a ratio of 1:3. So if the ratio is above 1:3 – either 1:3, 1:2 or 1:1, then the investors would see profits in their accounts which is the main intention for the company to come ahead with this particular bonus issue. Another thing to watch out for is Reliance Energy – where the shareholding would reduce from 45% to anywhere between 41%-44%.
Number plate ‘1’ fetches over Dh52m, enters Guinness Book
Number plate ‘1’ fetches over Dh52m, enters Guinness Book
By Adel Arafah (KHALEEJ TIMES Our staff reporter)17 February 2008
ABU DHABI – The coveted car plate number 1 set a new Guinness World Record by fetching a staggering Dh52.2 million at an auction held at the Emirates Palace Hotel in the capital on Saturday. It was bought by Emirati businessman Saeed Abdulghafar Khoury, who said that he insisted on bidding for the number despite fierce competition.
This he did in response to Minister of Interior Shaikh Saif bin Zayed Al Nahyan’s announcement that the revenues of the auction would be used for establishing a centre for the rehabilitation of accident victims.
He said he will not sell the number plate 1.
A total of 90 car plate numbers auctioned last night yielded Dh89 million.
Number plate 1111 was sold for Dh2.32 million, number 96 for Dh2.5 million, number 32 for Dh2.5 million, number 100 for Dh2.82 million, number 51 for Dh2.15, number 78 for Dh2.04 million, and number 81 for Dh2 million.
Abdullah Matar Al Mannaei, Managing Director of Emirates Auction, said that the car plate number 1 has set a new Guinness World Record for being the most expensive car plate in the world. The last record was for the number plate (5), which was sold in the first auction for Dh25 millions.
He added that a team from the Guinness World Records and international news agencies were present at the Emirates Palace in Abu Dhabi to cover the international event.
Simply natural!
Simply natural!
By Abigail Mathias, Staff Writer GULF NEWS
The appeal of black and white photographs never fades.
Life is like a good black and white photograph, there’s black, there’s white, and lots of shades in between. – Karl Heiner
Want to create an impression? Photograph your subject in black and white. Ever since the first film was shot and developed, black and white photos have been popular with photographers around the world because they have a classic and elegant look.
In many instances black and white photographs characterise the genre of social documentary photography, creating images that are seemingly natural, simply caught in an instant of life and, therefore, real, but stark and compelling in their absence of colour.
In spite of the invasion of sophisticated digital photography, black and white photography remains a popular choice for weddings as it portrays romance and lends a sense of timelessness to images. Its simplicity gives the subject a polished appearance. Without the distractions of colour, the picture commands the viewer to appreciate the individuality of the subject. This is why headshots of dignitaries and company presidents are often shot in black and white.
Unfortunately not many realise the true potential of black and white photography. Sue Johnston, who specialises in lifestyle photography, and has worked with the Dubai International Art Centre, is disappointed that black and white photography is under developed in the region. “Most of my friends are unhappy with the quality of black and white printing. I have worked with black and white films and developed my own photographs, but the results were never as expected. Newspaper photographs are often in colour these days and that’s a huge change. Earlier newspapers had just one or two colour pages. Similarly, only a few art publications focus on black and white photography these days,” says Johnston.
When learning photography, the simplicity of black and white helps students focus on the important aspects without getting distracted by colour. Black and white simplifies the scene and centres attention on form, shades, pattern, and other graphic concepts, to give them an unusual quality with tone and hue.
Mamoun Khalifa, Operations Manager, United Colour Films (UCF), says, “Black and white photography marks the birth of photography. It adds historic value to people’s photographs.”
Though the number of clients developing black and white photographs is comparatively few, Khalifa says, wedding photographers and corporate houses still prefer such prints.
“Black and white allows photographers more control in taking the picture and producing the print. One can more easily use shape, line, texture, form and tone to manipulate the picture and the viewer without the often-contradictory message of colour.
The graphic concepts are easier to see when shot in black and white. One can find interest in everyday objects and scenes, making them more dramatic. Black and white also works very nicely for portrait photography. Skin tones in black and white are mellowed; blotches, blemishes, and uneven shading is less noticeable than it is in colour photos. “I still get a lot of requests for black and white portraits,” says Johnston. “The shadows and lighting make the images appear kinder to people of all ages. People take time to look at the photograph and notice details,” says Johnston.
Sultan Roam, Laboratory Supervisor at UCF, says, “Black and white prints last longer than coloured ones. The lack of colour allows the photograph to withstand more wear and tear, whereas a colour photograph tends to fade after a while if it’s exposed to direct sunlight. The intensity of a black and white photograph remains the same even after 20 years.”
Picking up somebody else’s rubbish for environment’s sake
Picking up somebody else’s rubbish for environment’s sake
By Emmanuelle Landais, Staff Reporter GULF NEWS Published: February 13, 2008, 17:08
Abu Dhabi: Black rubbish bags were filled in no time last weekend by members of Abu Dhabi 4×4 Club, who took turns in the desert specifically to pick up the mess frequently left out by campers and quad bikers.
Near Al Khatam in Abu Dhabi, silver foil wrappers and plastic bottles pepper the horizon. Already degraded by the sun, plastic bags, feed bags and coal bags, rusty tins and plastic containers break and shatter into fragments when picked up, leaving their trace in the sand.
Khaled Al Muqtab, an Emirati club member marshal and instigator of the environment-focused tryst in the dunes, said he organised the trip after reading a recent Gulf News report on the accidental deaths of camels from eating plastic bags. The plastic forms calcified rocks weighing dozens of kilogrammes, which starves to death four-legged desert wanderers like camels, donkeys or gazelles.
Snapping on blue latex gloves, the volunteer off-roaders look around them at the trash. They do not have to look far, and the group quickly separates to start filling bags.
“I didn’t expect there to be so much trash in such a small area. It’s everywhere,” said Al Muqtab, pausing to listen in to the walkie-talkie in his pocket used by all the off-roaders to communicate. He hears another group has made a find – a different kind of treasure however. He jumps in his car to take the trailer to them and load the abandoned water tanker, probably from a nearby farm.
“This area is so popular for families to come camping and have picnics but there is water bottles and plastic bags everywhere. Municipality seems to be making an effort by at least providing skips and dumpsters but people don’t make the effort to throw their trash there instead,” he said.
The Abu Dhabi 4×4 Club travels into the desert at least twice a week and has been witnessing the increase in waste forming small piles all over the place. “We’ve seen a camel trying to eat plastic today, before our eyes,” he said.
In hours, the cars pulling trailers have made too many trips to count to dump their load of bulging black bags into a municipality skip. A waste management truck even came and emptied the skip once before the group quickly filled it again.
“There is a huge lack of education and awareness. If one person thinks leaving a plastic bag won’t do much damage, then 1,000 people think this is creating a lot of problem. I’m really shocked by what we found today,” he said.
“I really think there needs to be more education in our schools, in a year the problem would not be what it is today.”
Driving over a newly-cleaned up area is a moment of pride for Carolyn, an Australian driver who lived in New Zealand for over a decade. “It’s great to see this spot so clean and to think that we did this.”
“At the end of the day, we have to realise that we have cleaned up a very small area of what is out there, I just hope that we have helped in some way,” said Al Muqtab.
A brief history
The Abu Dhabi 4×4 Club was founded in May 2006. The main purpose of the Club is to have an off-road club based in Abu Dhabi that gathers all the Abu Dhabi based off-roaders in a family-oriented association, meet new people and share the technical and driving knowledge with each other.
Club members are now in talks to organise a monthly desert clean up drive as the idea was very well received by all members and had a very good turnout. For more information on the Abu Dhabi 4×4 club, go to http://www.ad4x4.com
Join us in the Clean up campaign
Join us in the Clean up campaign
Abu Dhabi’s coastline is in dire need of your help. Waste from construction sites, boats and from the land have littered our coastline, not only causing an eye sore but also endangering precious marine life such as dugongs and sea turtles, our health and our fragile environment. Abu Dhabi Government is really very concerned about this issue.
There is still time to show your commitment.
Join us in the Clean up campaign as we move along the Abu Dhabi coast in our endeavour to keep our coast clean
How do we join in this time?
Join us in our Clean-Up Campaign on Saturday February 16th, 2008 at the Public beach at Mirfa in the western region
A tent will be set up at the site. Gloves, trash bags and refreshments will be available. The clean up will start at 8.30Am in the morning. The clean up will go on for about 2 hours.
Interested volunteers from Abu Dhabi will collect at 6.30am at Spinneys parking lot in Khalidiyah. The clean up site is at Mirfa public beach. The plan is for all volunteers to collect and move together from Spinneys Khalidiya in Abu Dhabi. Buses are being arranged for all those who don’t have cars to commute.It would take about one and half an hour to reach Mirfa coast in the western region. After the event, volunteers who traveled by bus will be dropped back at Spinneys supermarket. For those who want to travel by bus, please do contact and reserve your seats latest by 13th of February.
Who all can participate?
Social centers, general public, Private sector, Government organizations, youth etc
How do I/ we participate?
To volunteer in this important campaign, kindly complete the Registration form and submit it online to graghwa@ead.ae or moali@ead.ae or mhaneefa@ead.ae or ralmadfai@ead.ae
Please note spaces are limited so it is based on a first-come first-serve basis. Those companies / organization who can bring in their own buses or cars with their group, do inform us how many of you are coming
Did you know that we collected 6,720 kg of waste from the Mussafah Industrial area for the February 09 clean up campaign!
For more details, please visit: http://www.ead.ae/en/?T=4&ID=3554
Soaring prices of essential goods bite into consumers’ pockets
Soaring prices of essential goods bite into consumers’ pockets
By Irish Eden Belleza, Staff Reporter GULF NEWS Published: February 13, 2008, 00:20
Dubai: As 2008 began, UAE consumers have been crying over skyrocketing prices as basic commodities have become more expensive in many places in the past few months, posting increases as high as 25 per cent.
Increases in consumer prices are not unique to the UAE.
It is a worldwide phenomenon caused by soaring agricultural prices and the global economic slowdown, triggered by the lingering crisis in capital markets.
Solutions
Some retailers of fast-moving consumer goods (FMCG) are consequently coming up with innovative solutions to ease the burden on consumers.
“Most of the goods sold here are imported. But at LuLu Centre we are now producing our own range of goods such as frozen foods to give consumers an alternative and offer them more value for their money,” Ashraf Ali, executive director of the LuLu chain of hypermarkets, told Gulf News.
Due to pressure from suppliers to raise prices, some retail outlets are suffering severe shortages of basic commodities.
“We are experiencing a 40 to 50 per cent shortage or reduction of goods like rice, milk, dairy products, poultry and especially imported goods,” said Ashraf Ali.
“Suppliers are asking for price revisions but we are not implementing them since the suggested price increase has not yet been approved by the Ministry of Economy,” the official added.
Inflation
Inflation is expected to intensify over the next couple of months as, industry experts have revealed, consumers are confronted with more price hikes in basic commodities ranging from 20 to 40 per cent.
An industry insider also revealed that the UAE market is experiencing severe shortages of products produced by some multinationals.
However, some lucky consumers may have to take advantage of the current lull in price increases of many consumer goods that remained stable.
Choice
The latest consumer price index released by the Ministry of Economy indicates that consumers must be careful where they shop.
For instance, one kilo of cheese (Akkawi) from the Czech Republic has risen to Dh34.90 in some supermarkets, but is available for as little as Dh23.95 from others.
Butter from Denmark costs Dh7.95 for 400g in some stores while some others offer it for Dh7.75.
Most of the goods sold hereare imported. At LuLu Centre we are now producing our own range of goods such as frozen foods to give consumers an alternative and offer them more value for their money,” said Ashraf Ali, Executive director of LuLu chain of hypermarkets.
Truck drivers risk deportation if found violating safety rules
Truck drivers risk deportation if found violating safety rules
By Rayeesa Absal, Staff Reporter GULF NEWS Published: February 12, 2008, 19:12
Abu Dhabi: Starting Thursday, truck drivers would risk deportation if they flout safety regulations while on the road, senior police officials said.
In order to tackle the issue of materials falling off from trucks on to the roads, threatening the safety of road users, a campaign has been launched by the Abu Dhabi Police. Not only would the trucks be confiscated for up to a month’s time, the errant drivers would face deportation.
Several traffic police patrol vehicles have been deployed across the capital city and its outskirts, including Al Ain and the Western region, to effectively track down drivers who fail to abide by the safety regulations.
Brigadier Nasser Al Nuaimi, Director General of the office of the Minister of Interior, said the entry and exit points of the city would be carefully monitored to nab violators. “Dust and other materials falling off from trucks could cause accidents. Truck drivers must ensure that these are adequately covered and secured.”
“The decision to impose stringent measures on drivers came after authorities spotted inconsiderate truck drivers who put public safety at risk,” he said.
A committee has been formed to coordinate with all the stake holders to curb this phenomenon, he added.
Speaking of the new measure, Colonel Hamad Adil Al Shamsi, the Director of the Department of Traffic and patrol police said that improper handling of materials carried in trucks threatens lives of motorists especially by reducing the visibility.
Police patrols are focussing on major construction sites besides the Al Raha beach area, Mussafah, Zayed Military area and Emirates road.
The police have already begun distributing leaflets in different languages to educate the drivers.
Fast track of Shaikh Zayed Road to be closed to traffic
Fast track of Shaikh Zayed Road to be closed to traffic
By Alia Al Theeb, Staff Reporter GULF NEWS Published: February 12, 2008, 17:35
Dubai: Motorists are expected to face traffic jams due to the closure of the fast lane on both sides of Shaikh Zayed Road to allow for construction of a base for a pedestrian bridge.
The Roads and Transport Authority (RTA) said the closure of the fast lanes between the World Trade Centre Roundabout and the First Interchange on Shaikh Zayed Road will start from 1am on Thursday, February 14 until 5am on Sunday, February 17.
Maitha Obaid Bin Udai, Chief Executive Officer (CEO) RTA’s Traffic and Roads Agency, stated that the closure will only affect the fast track [extreme left lane] on both directions of Shaikh Zayed Road in the sector between the Defence Interchange and the World Trade Centre Roundabout, while traffic flow on other lanes will continue as usual.
Maitha called upon road users to exercise extreme caution while passing through the area. She explained that all required arrangements and procedures are in place to ensure smooth traffic flow on the road, as well as safe transit on other lanes. She called upon road users to abide by the speed limits, adhere to the guidelines displayed at traffic signs in the area, and use alternative roads to ease congestion during the lane closures.
“This lane closure is dictated by the need to construct an overhead pedestrian bridge in the median of this vital road so as to enhance the safety of pedestrians and save them from accidents.
“Such accidents, taking place at highways like Shaikh Zayed Road, are fatal in most cases since pedestrians tend to cross such roads from places other than those specified for this purpose,” she said.
Maitha said the RTA assigns paramount importance to the safety of pedestrians and road users and is making substantial efforts to take all actions required for their safety.
Next academic year for public schools begins on Aug 24
Next academic year for public schools begins on Aug 24
By Mohsen Rashid (Our staff reporter)KHALEEJ TIMES 13 February 2008
DUBAI — The Ministry of Education (MoE) has fixed the beginning of the 2008-09 academic year for the public schools on August 24, Khaleej Times has learnt.
While the teaching and administrative staff will report for duty on August 24, the students of all grades will report for classes on August 31, reliable sources in the ministry said yesterday.
The private (foreign) schools have been given the right to fix the date of commencement of their coming academic year.
The sources said the ministry had fixed the opening date of the academic year and the holidays for both the public and private schools last year, which sparked criticism from managements of several schools and parents. Therefore this time, the ministry has let it to the private schools to decide on the opening date.
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