Egg Prices to go up in UAE

Posted on August 1, 2007 Updated on June 6, 2015

‘70% of Indian eggs purchased by hotels’
By Binsal Abdul Kader, Staff Reporter / Gulf News Published: July 31, 2007, 23:42

Abu Dhabi: There will be a shortage of eggs following the ban on the import of Indian poultry products.

The retail prices of eggs in the country may go up by 10 to 30 per cent soon following the ban on the import of Indian poultry products, said retail chains. Supermarkets disclosed that some egg suppliers have already given them notice to increase the price.

The UAE has imposed a temporary ban on the import of all kinds of birds and products from India after bird flu was detected there, WAM reported yesterday.

Dr Mohammad Saeed Al Kindi, Minister of Environment and Water, said the ban covers “all domestic and wild birds, including ornamental birds and products.” The decision was taken as a precautionary measure following reports by the World Organisation for Animal Health on the emergence of bird flu cases in India.

Economy caught in inflation bind

Posted on July 31, 2007

Economy caught in inflation bind
Gulf News Published: July 30, 2007, 23:49

The UAE economy, moving on a high-speed growth trajectory, is getting caught up in the classic growth versus inflation dilemma.

While inflation in the UAE is largely a by-product of excess liquidity, increased government and private spending and the relative supply constraints in the real estate sector, the dirham’s peg to the perennially falling dollar is also contributing to the general rise in prices.

Independent economists and the UAE Central Bank have always attributed surging rents as a major contributing inflationary factor. However, rising rents have also been widely acknowledged as a driver behind the real estate boom.

The UAE Ministry of Economy has estimated inflation at 9.3 per cent last year. With the new supply of homes coming into the market this year inflation was expected to ease to about 7.5 per cent.

However, with the surging cost of living and shrinking purchasing power, new supply alone is unlikely to cool inflation. In the absence of any kind of inflation targeting through fiscal or monetary policy measures, it would be unrealistic to expect prices to retreat in the near term.

But if the market is left to find its own tolerance level for too long, it will almost certainly bring down prices but at a huge cost in the form of a severe correction starting in the real estate sector, with cascading effect on other sectors.

The real estate sector is already seeing the omens on the horizon in the form of declining demand for newer properties from domestic buyers.

Biocon-Neopharma venture to develop drugs in Dubai

Posted on July 31, 2007 Updated on June 6, 2015

Biocon-Neopharma venture to develop drugs in Dubai
By Shakir Husain, Staff Reporter/Gulf News
Published: July 30, 2007, 23:49

Dubai: Indian biotechnology firm Biocon Limited and Abu Dhabi-based drugmaker Neopharma have set up a venture in Dubai to develop treatments for diabetes, cancer and cardiovascular diseases in a boost for the emirate’s efforts to create a viable medical research sector.

Located in Dubai Bio-technology and Research Park (Dubiotech), Neobiocon will focus on developing drugs to fight diseases that are growing due to changing lifestyles in the region.

The companies said the cardiovascular, diabetes and oncology segments represent the fastest growing class of drugs in the $5 billion GCC pharmaceutical market.

Kiran Mazumdar Shaw, chairman and managing director of Biocon, sees a spending of Dh100 million on research and development over the next three to five years.

The areas of research include auto-immune disorders, anti-obesity drugs and new generation immunosuppressant agents.

“Our long-term vision is to ensure that the region is self-sufficient in terms of biopharmaceutical products,” Shaw said, describing the UAE as the “diabetes capital” of the region.

Neobiocon will rely on Biocon’s technological achievements and Neopharma’s manufacturing capabilities.

Neopharma, part of healthcare group NMC, has a drug-making facility in the Industrial City of Abu Dhabi and plans to set up another plant in the capital to make drugs being developed by the Dubai-based venture.

NMC managing director B.R. Shetty told Gulf News his company will invest about Dh300 million in the plant covering a land area of 100,000 square metres.

He expects an annual turnover of about Dh185 million per year from the new company.

Besides the UAE, the company will also target Saudi Arabia, Kuwait, Bahrain, Qatar and Oman.

Diabetes and cardiovascular disorders are seen growing in the region due to sedentary lifestyles, job-related stress, a lack of physical activity and eating of rich foods.

“In addition to India and sub-Saharan Africa, the greatest relative increase of these diseases is expected to occur in the Middle Eastern countries,” the two companies said in a statement.

Biotechnology: Dubiotech infrastructure is now 100% complete

– Dubiotech has begun leasing land for offices and factories to companies and has finished work on basic infrastructure facilities, a senior official said.

– The business cluster is part of Dubai Holding unit Tecom Investments.

– “Infrastructure is now 100 per cent complete. The lab building will be ready in early 2009 and the headquarters building in late 2009,” business development director Yahya Al Ansari said.

– Total spending on infrastructure and the two buildings is estimated about Dh1.2 billion.

– Dubiotech has so far attracted 26 companies in different areas of biotechnology and medical research.

Waterbuses likely to operate from August

Posted on July 30, 2007

Waterbuses likely to operate from August
By a staff reporter / Khaleej Times

DUBAI — The waterbus service, officially launched on Sunday, will be open to commuters only by next month, it was learnt.

A senior official of the Roads and Transport Authority (RTA) yesterday confirmed the delay of the waterbus service on the Dubai Creek, saying it was due to technical reasons.

Khalid Al Zahed, director of Maritime Projects Department at the RTA, said the waterbuses were currently being tested and would be allowed to ply in the creek only after a foolproof check.

“The waterbuses will be plying along the Dubai Creek from next month. At present we are in the process of carrying out checks and re-checks to ensure their safe run,” he said.

The official added: “Safety of the commuters is RTA’s top priority. We want to first make sure that these buses are risk-free.”

Zahed added that a total number of 12 buses would be operating in the Creek on five different routes.

Meanwhile, staff at waterbus station at Al Seef said several people were coming every day to enquire about the waterbuses.

While the daily commuters will have to pay Dh4 for a trip, tourists will be charged Dh25 for a 45-minute tour.

There will be five lines for these waterbuses, including one for tourists which will start from the Shindaga station and go up to the Al Seef station. For the daily commuters, there are four lines – from Al Seef station to Baniyas station, from Sabkha station to Bur Dubai station, Old Souk station to Al Seef station and Old Souk station to Baniyas station. Commuters can also buy prepaid cards for the waterbuses, according to Eng. Eisa Abdul Rehman Al Dosari, CEO of the Marine Agency at the RTA.

Prices rise by 50%

Posted on July 30, 2007

Mineral water gets costlier next month
By Binsal Abdul Kader, Staff Reporter/Gulf News
Published: July 30, 2007, 00:01

Abu Dhabi: Consumers are complaining that prices of all essential commodities have gone up.

“Whatever I purchased for Dh100 two months ago costs me around Dh130-Dh140 now,” said James, an Indian expatriate who has been living in Abu Dhabi for the past 10 years.

Many supermarkets also confirmed the price increase of up to 50 per cent for some commodities in the past six months.

A senior manager of a prominent retail chain disclosed that the retail price of wheat flour has gone up by 50 per cent since January.

Basic commodities

“The 50kg bag of wheat flour priced at Dh56.50 in January was increased to Dh71 on July 5 and further increased to Dh83 this week,” he said.

A 10kg bag of another type of flour, a mix of wheat and ground gram, went up by more than 30 per cent in the same period. The retail price was Dh13.50 in January but is now Dh17.95.

Interestingly the price was increased thrice this month. It was increased to Dh14.85 on July 1, and further increased to Dh15.95 and Dh17.95 on July 5 and July 29 respectively.

“Wheat is mainly imported from the United States, India and Pakistan. Apart from the increase in the cost of production, the fluctuation in the exchange rate is also said to be the reason for the substantial rise in price. The appreciation of the Indian rupee against the US dollar and the dirham has caused a price rise for almost all commodities imported from India,” the manager of the retail chain said. But most retailers admitted that prices will not come down when the exchange rate is changed.

The latest in the series of price rises is that of mineral water.

“Almost all suppliers of mineral water have given notice to us that prices will be increased from July 1 onwards. A four-gallon water can will be priced at Dh9 against the current price of Dh7,” said V. Nanda Kumar, Corporate Communications Manager of Emke Group. “We have told the suppliers that the new prices have to be ratified by the Ministry of Economy,” he said.

The price of rice and vegetable oil has also gone up. Two of the oil brands have already implemented the price rise and others have given notice for the same to the wholesale dealers.

The price of sugar has been fluctuating during the past three months. Many consumers have demanded the intervention of the Ministry of Economy to control prices. No official from the ministry was available for comments.

Visa to carry applicant’s photograph

Posted on July 27, 2007

27 July 2007

ABU DHABI — The Department of Naturalisation and Residency in the Ministry of Interior has ordered all the departments of naturalisation and residency in the country to fix the photograph of visa applicants on the visas themselves, stated Brigadier Mohammad Salim bin Oueidah Al Kheili, director general of the department.

According to a fresh guideline, instead of the black and white photocopy a colour photocopy of the applicant’s passport will have to be submitted along with the application for visa. The decision applies to all categories of visas.

The photo of the applicant will be taken from the colour photocopy of the passport and fixed on the visa by the naturalisation and residency departments in the country. The visa with the photo will be submitted at the airport at the time of the arrival of the applicant.

This decision has been implemented at the Abu Dhabi Naturalisation and Residency Department and will come into force immediately at other departments countrywide.

The decision is in line with the directives of Minister of Interior Lt-Gen. Shaikh Saif bin Zayed Al Nahyan to protect against manipulation and tampering of visas.

Burj Dubai – World’s new tallest building – Think Beyond Ordinary

Posted on July 25, 2007 Updated on June 6, 2015

Fast Facts:
– At level 110, Bur Dubai became the tallest structure in the Middle East and Europe in March 2007.
– At level 120, it set new global record for having more floors than any other building in the world in April.
– At level 141, it became the world’s tallest tower in July 2007.
– The tip of its spire will be seen up to 95 kimlometres away.
– A condensate collection system will collect 15 million gallons of condensed woater from the hot and humid air per year, for the tower’s gardens.
– The tower’s curtain wall will be equivalent to 17 soccer (American) or 25 football (British) fields.

Thanks to Madhu Rayirath, Bangalore for sending me these info.

Abu Dhabi

Posted on June 25, 2007

Hi all, This is my first Video post. Welcome all of you to Abu Dhabi. Cheers, Ramesh Menon
http://www.youtube.com/get_player