Programme for Sports Leadership Development launched

Dubai Sports Council in partnership with Mohammed Bin Rashid Program for Leadership Development (MBRPLD), an innovative leadership programme designed to develop future national leaders capable of promoting the sustainable development of Dubai, today announced at a press conference, the launch of the Hamdan Bin Mohammed Program for Sports Leadership Development (HBMPSLD).

At the press conference - held at Raffles Dubai Hotel - MBRPLD also signed a Memorandum of Understanding (MoU) with Dubai Sports Council to design and manage the new programme.

The Hamdan Bin Mohammed Programme for Sports Leadership Development, initiated by H.H. Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Sports Council, is a unique leadership program designed to develop future national leaders by integrating sports' values and ethics.

The programme has been developed based on an approach that aims to achieve all-round development of an individual so as to aid in the formation of visionary leaders who can play a major role in the process of comprehensive sports development. The launch of this program is considered as a milestone for Dubai Sports Council, which, since its establishment in 2005, has made significant strides in the field of regulating and developing the administrative work at sports clubs.

Speaking at the press conference, Eng. Mattar Al Tayer, Vice President of Dubai Sports Council and Chairman of the Executive Office of Dubai Sports Council, said, "The launch of this innovative sports leadership programme in Dubai is a reflection of the emirate's progressive approach to excellence. Building a productive sport society is vital for the all-round development of Dubai, leveraging the emirate's position as one of the prime business, tourism and leisure destinations of the world." The key objectives of the HBMPSLD include ensuring a long-term systematised leadership development in sports; initiating changes for a progressive and productive sport society under the 'Change Agents Programme'; convening an elite group of sports leaders to help participants in the program benefit from their experiences; sharing insights about individual leadership styles and values; and helping Dubai Government to successfully implement the Dubai Strategic Plan 2015.

During the press conference, Adel Al Shared, Director of Mohammed Bin Rashid Program for Leadership Development, provided an overview of the HBMPSLD, highlighting the modules, structure and strategies of the program.

"The HBMPSLD is a comprehensive sports leadership development programme that is designed to create sports leaders of international repute. The programme incorporates various elements of management, leadership, sports and communication that are required to provide a well-rounded perspective to future leaders." "The programme is a golden opportunity for members to achieve personal development and hone their skills through comprehensive and innovative means in the field of sports training. The programme addresses topics such as effective communication, community building, sports in Dubai and the UAE, Dubai Sports Strategy, project finance, cross sector support, master planning, role of the government, leading change management, international sport structure, strategic management of sport and organisational design," he added.

Dr. Ahmed Alshareef, General Secretariat of Dubai Sports Council, said, "This programme will help realize the first goal according to the strategic plan of Dubai Sports Council, which states the launch of an initiative for developing and qualifying administrative and technical staff in sports clubs.

Dubai Sports Council has launched many pioneering initiatives including the Dubai International Sports Conference which successfully completed its third year. Regarding the organizational aspects, the Council has introduced the strategic plan, the unified organisational structure and the unified financial system for all clubs.

This programme affirms the scientific methodology adopted by the Council for developing the abilities of nationals, in order to be able to effectively handle responsibilities as they assume various roles." The HBMPSLD will adopt a combination of strategies that include sharing of international best practices and experiences, in addition to studies and projects related to local sports and culture in the UAE, in accordance with the Dubai Strategic Plan 2015.
/WAM/

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Luxury Marketing Council

Over 70 experts representing luxury brands gathered today in Dubai for an inaugural roundtable discussion organised by The Luxury Marketing Council. This is the first event of the Council's Dubai Chapter, which was formed in early 2008.

The discussion examined the evolving trends in luxury purchasing and spend patterns of the affluent in the Middle East, with a view to identifying growth opportunities for the premium goods and services sector.

The event was held at the Burj Al Arab and hosted by the Council's founding member, American Express Middle East and North Africa. This industry discussion serves as a networking platform for premium brands across key sectors in the luxury industry to capitalise on spend trends within the region.

"Dubai is today a global hub for luxury. Benefiting from the rising oil prices and diversified economy, the emirate and the wider region is clearly showing impressive growth in the number of high net worth individuals," said Trevor Stokes, Chief Executive Officer of American Express Middle East '&' North Africa. "Despite the global downturn in financial markets, the affluent customer in the Middle East has been resilient. It is expected that there will be over 500,000 dollar millionaires in the Middle East by end 2010." Premal Patel, Senior Director of Marketing at American Express Middle East and North Africa, added: "We are also witnessing a rapid rise of mass affluence in the region. Luxury is becoming more accessible. Old luxury was about the attributes, qualities and features of the product and much of its appeal was derived from status and prestige. Today's new luxury is less about worth and more about value; less about exclusivity and more about experience." Patel added that strengthening customer engagement remains the key challenge for luxury brands in the UAE to maintain their leadership and to cater to new segments. "As discussed today, members of the Council will be gearing up to bring the personal element into everything we do: innovating through new technology, techniques, processes and practices. We are bound to see a more prolific rise in the luxury market of the UAE." President and CEO of The Luxury Marketing Council - Dubai Chapter, T.B. (Mac) McClelland, said: "Today represents the launch of a new dialogue among top luxury brands in the UAE and the region. This reflects the growing need for industry partnership in order to lead change in expanding the luxury sector. The Luxury Marketing Council was formed to serve as a catalyst to help its members bring innovative, value-added programs to their customers, individuals who are at the very top of the demographic pyramid."
/WAM/

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'Authentic Government Leader - Model One' - the first phase of 'Executive Leaders Programme'

Thirty executive directors and directors from ministries and federal authorities and corporations began Sunday in Dubai today the 'Executive Leaders Programme', the first initiative under the multi-pronged 'UAE Government Leaders Programme' that was launched earlier this year.

Titled 'Authentic Government Leader - Model One', the first workshop of the Executive Leaders Programme focuses on three main areas of leading the self, wise decision making, and communication skills. Held in collaboration with London Business School at the Palace Hotel- Burj Dubai, the first phase will conclude on 29 April.

Launched under the directive of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the UAE Government Leaders Programme aims to develop visionary leaders with the potential to drive the strategic objectives of the UAE federal government.

The 26-day Executive Leaders Programme will be delivered over a period of 18 months and comprise various training programmes that promote best international practices in the government sector. In addition to exploring latest practices in strategic thinking, planning and implementation, the programme will help participants enhance core skills in key areas such as, financial management, human capital management, project management, information technology and internal operations excellence.

His Excellency Mohammed Al Gergawi, Minister for Cabinet Affairs, said: "The launch of the first programme follows a stringent evaluation process conducted in cooperation with a leading international agency. The highly competitive evaluation identified 30 participants despite close scores by 107 senior officials across the UAE federal entities.

"The programme seeks to enhance the participants' strategic planning competencies and enable them to develop clear and result-oriented visions. It will also assist them to enhance their management skills in various areas such as team building, innovation and creativity, while equipping them with the necessary tools to cope with the ongoing dynamic changes.? Under the Executive Leaders Programme, participants will be assigned experienced mentors to guide them through best practices in personal development to complement their leadership qualities.

The multi-pronged UAE Government Leaders Programme, launched last February, focuses on UAE federal employees across three different levels. To be concluded in September 2009, the Executive Leaders Programme targets Executive Directors and Directors at the federal entities.

The 12-month Strategic Leaders Programme will target 20 Directors General, and the 18-month Future Leaders Programme targets 30 Assistant Directors and the lower cadres. The Strategic Leaders and Future Leaders Programs will be launched during the second half of 2008. WAM

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The Capial Club opens in DIFC

The Capital Club, Dubai's premier private business club, was officially opened on 9 April by HH Sheikh Ahmed Bin Saeed Al Maktoum, the club's honorary chairman.

Signature Clubs International, developers of the Capital Club, hosted the club's board of governors, members and dignitaries at a reception to celebrate its official opening within the new Gate Village in the heart of the Dubai International Financial Centre (DIFC).

"The aim of the Capital Club is not only to serve the growing executive community of DIFC but also to be the premier private business club of the region," said HE Dr Omar Bin Sulaiman, Chairman of the Capital Club and Governor of DIFC. "I am confident that we now have a business club on par with the finest in the world, and linked to other top clubs around the globe. By harnessing the power of networking and community, the Capital Club will add considerable value to the business sector in the region."

Through the success of the Capital Club in Dubai and with the backing of its main shareholder Abraaj Capital, Signature Clubs International is establishing a leadership platform in the development of prestigious private business clubs, with further openings planned across the Middle East from Turkey in the North to the subcontinent including Abu Dhabi, Amman, Bahrain, Istanbul and Karachi. The Capital Club, Bahrain is likely to open in 2008.

"The club supports the personal and business needs of members by providing an exceptional platform for entertaining, natural networking and relaxation," said Guy Guillemard, CEO of Signature Clubs International.

"The mission of our clubs is not to be the largest, the grandest or the most expensive, but simply the preferred private business club for the leaders of the community in business, finance and government. The Capital Club aims to offer the utmost in service, exclusivity and privacy, but in a relaxed and comfortable environment, very much like an extension of the ideal home," he said.

"The economic development of the region coupled with the diversity of nationalities making business decisions here have led to the demand for a new gold standard in private business and networking clubs: strategically-located sites that offer exclusive and luxurious surroundings for meetings, entertaining, and relaxation. We see the opportunity for club development increasing exponentially to complement the commercial growth of the Middle East. North Africa and the Asian Subcontinent," Guillemard added.

Since its launch in late 2006, the Capital Club has attracted almost 1,000 members, including some of the region's most senior decision-makers, and leaders in business, finance and government. Little expense has been spared to create within the DIFC an elegant and welcoming ambience in which to meet, to exchange ideas and to entertain guests. The luxury decor of the club - which houses restaurants, lounges, private meeting rooms, a wellness area, and guest rooms - is exquisite and includes contemporary art from the region, fine antiques, handcrafted furniture and rich imported fabrics.

During the last 18 months, the Capital Club's events committee has hosted exclusive events with high-powered international guests and speakers. These have included HRH Raja Dr Nazrin Shah, violin virtuoso Miha Pogaènik, President of the Institute of Development of Intercultural Relations through the Arts; HE Dr Omar Bin Sulaiman, Governor of the Dubai International Financial Centre; former Costa Rican President and CEO of Grupo Felipe IV in Spain, José María Figueres; and acclaimed business advisor, speaker and author Ram Charan.

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World Summit on Innovation and Entrepreneurship

Dialogue with world leaders and innovators and be part of shaping the future of the Arab world with innovation as the key instrument for global competitiveness and peace: this is the mantra of the 2008 World Summit on Innovation and Entrepreneurship (2008 WSIE), the most inspiring gathering of its kind, taking place in Dubai, UAE, 1-3 April 2008.

"The future of the Arab World belongs to the present majority of the youth population under 20 years of age. This Summit seeks to challenge the status quo, dispute facts and figures, and urge world leaders to commit to solutions that empower young arab leaders with the knowledge, the resources and the policy environment needed for their successful future," said Sam Hamdan, Chairman and Chief Strategist of the Global Leadership Team and Architect of WSIE.

"Dubai offers an ideal model for economic cooperation, cultural diversity and policy innovation. Arab leadership across all parts of society must be inspired by the Dubai experience and collaborate to provide the economic, social and policy foundations that provide hope for all youth, women and aspiring entrepreneurs." "The Arab World presents remarkable opportunities ahead, but we are confident in the social and spiritual qualities of the new generation of leaders bound by their commitment to invent and co-exist," said Hamdan. "If we can invent together, we can live together," he added to sum up the theme of the 2008 WSIE.

The event will be held under the Patronage of HH Sheikh Hamdan Bin Mohammed Al Maktoum, Crown Prince of Dubai, President of the Executive Council of Dubai and Chairman of Mohammed Bin Rashid Establishment For Young Business Leaders, under the theme ; "Our Future. Inspired by Innovation Selected delegates will come together from all walks of life to participate in illuminating experiences that will inspire, excite and entertain them. Sparks of curiosity will unleash their inner-innovators - helping them to see beyond, and act on solutions that will empower and cultivate the Arab leaders of business, government and society that the region and the world will need for sustainable growth and a better future for all.

"The Arab World is teeming with a renewed sense of energy and confidence that if appropriately tapped, will certainly unleash its potential for higher growth across multiple dimensions. WSIE is a unique platform that brings creative minds that constantly challenges the status quo and push the envelope for an improved state of being tomorrow,'' said Abdul Baset Al Janahi, CEO, Mohammed bin Rashid Establishment for Young Business Leaders. WAM

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'Ernst & Young Middle East Entrepreneur of the Year Award'

Ernst & Young Middle East officials have welcomed the regional finalists of the 'Ernst & Young Middle East Entrepreneur of the Year Award' to Dubai to meet the judging panel and attend the award ceremony.
Chairman, Ernst & Young Middle East, Ahmed Al Aiban said he was delighted to see the event being held in the region.

“We are extremely excited about the awards being held for the first time in the region and are doing all we can to ensure that entrepreneurship is given the recognition it is due here,” said managing partner of Ernst & Young in the Middle East Fouad Alaeddin.

“The finalists are keen to talk about their successes and extraordinary business talent and we are hoping that this weekend will give them the very opportunity that they have been seeking.”

The finalists include: Ayedh Bin Farhan, Saudi Arabia; Abdulaziz Al Hoshan, Saudi Arabia; Atif Abdulmalik, Bahrain; Samih Darwazah, Jordan; Saud Kanoo, Bahrain; Faisal Al Ayyar, Kuwait; Samir Fancy, Oman; Marzooq Al Rashdan, Kuwait; Fadi Ghandour, Jordan; Mohammed Al Alloush, Kuwait; Wasim Daher, Lebanon; Maqbool Hameed Al Saleh, Oman; Sobhi Batterjee, Saudi Arabia; B R Shetty, UAE, Omar Ayesh, UAE; Sunny Varkey, UAE; Dani Safi, UAE and Arif Naqvi, UAE.

The Ernst & Young Middle East Entrepreneur of the Year Awards 2007 was sponsored by Lloyds TSB, International Private Banking.

As the Middle East is an important region of growth for Lloyds TSB, the company is keen to encourage the spirit of entrepreneurship and innovation amongst businesspeople in various industries. (TradeArabia News Service)

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Mohammed Bin Rashid Establishment extends deadline for award entries

The Mohammed Bin Rashid Establishment for Young Business Leaders yesterday announced it has extended the submission deadline for entries to the Mohammed Bin Rashid Awards for Young Business Leaders to March 13, following consistent requests from potential participants.

The deadline extension also reflects the establishment’s desire to provide enhanced participation opportunities for a wider number of national small and medium sized enterprises (SMEs). Source

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20% rent reduction for Dubai entrepreneurs

Young entrepreneurs in Dubai are to receive a 20% reduction in rents in a move to foster the development of new business talent in the emirate, Dubai Real Estate Corporation (DREC) said on Saturday.

Members of the Sheikh Mohammed bin Rashid Establishment for Young Business Leaders will be given a 20% discount on the lease of commercial premises owned by DREC, the company said.

More than 3,000 organisations along with 1,000 individual members will benefit from the agreement which aims to encourage UAE entrepreneurs to “contribute to the future of their country”, DREC said in a statement.
Dubai has emerged as the world’s ninth most expensive city for office space, according to a recent study by CB Richard Ellis. At 321.75 dirhams ($88) per square foot, commercial rents have increased by 40% over the past 12 months, the statement said.

Rentals generally account for 20-25% of the overall start-up costs in any business, said Hesham Al Qassim, CEO of DREC, adding the initiative aimed to “reduce this burden which can be a deterrent to ambitious entrepreneurs”.

Abdul Baset Al Janahi, CEO of Sheikh Mohammed Bin Rashid Establishment for Young Business Leaders, said, "We genuinely appreciate this gesture from DREC, which owns substantial real estate assets in Dubai, and invite entrepreneurs to take full advantage of its business enabling initiative and support”.

“The agreement will prove to be an effective catalyst for UAE national entrepreneurs and encourage more young business leaders with the ability to emulate other successful businessmen”, he added. Source

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Accor to manage 18 new hotels in UAE by 2011

French hotel chain Accor will manage 18 new hotels in the UAE within four years as the company continues its Middle East expansion to benefit from a regional tourism boom.

At present it operates three hotels in Dubai, one in Abu Dhabi and one in Al Ain, with a room inventory of about 2,550 rooms.
The company will be managing at least 23 hotels in the country by 2011 with a total room capacity of 9,220, Accor Hospitality Middle East managing director Christophe Landais told Gulf News.
Accor now has 15 hotels in the region and has contracts to operate 45 in the next three years.
"Thirty of these hotels are already under construction and we have contracts signed for the rest," Landais said. Source

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Cellucom confirms opening 16 new retail locations in uae

Cellucom, the leading retailer for mobility products, has confirmed opening of 16 new stores across the UAE as part of its regional expansion strategy. The expansion is targeted to tap the growing market for mobility products and accessories. The new stores are part of Cellucom's retail expansion and consolidation plan in the region. The additional stores bring the total number of Cellucom retail locations in UAE to 40.

All outlets are located in convenient locations that include Abu Dhabi’s Marina Mall, Al Wahda Mall and soon in Khalidiya Mall; Reef Mall, Festival City, Dukan Tamarhind, and Greens Community in Dubai. Cellucom has also opened their Xpress Stores in 9 Etisalat Business Centers across Dubai, Abu Dhabi, Sharjah, Al Ain and Ras Al Khaimah. The strategic move has been partly initiated in association with Etisalat as both co-locate to all the new locations.

As a long-term player in the industry, Cellucom has a solid understanding of the dynamic needs of the Middle East consumer, who look forward to innovative products and the latest designs. The company has drawn up an impressive plan for growth in the region that includes a dramatic expansion of its retail and distribution network and which, once completed, will offer consumers easy access to the most comprehensive selection of Mobility Solutions in the region.

"There is tremendous potential across the GCC as the mobility industry is sitting on very healthy growth prospects. The desire to grow beyond borders and exceed consumer expectations has led us to determine the market prospects. Currently we have close to 100 outlets in the region, and over 100 locations in India. We expect this number to reach 600 by end 2007," said Arun Nagar, CEO and Managing Director, Cellucom Group.

Cellucom has also been awarded Superbrand status in UAE for 2007, while competing with over 800 brands active in the UAE market.

Strong brand building exercise and excellent retailing has earned the mobility solutions provider the much-coveted award. Superbrand program aims to identify those brands that are performing above and beyond others within the market. Superbrand status strengthens a brand's position, adds prestige, and sets the brand apart from its competitors.

As part of the expansion strategy, Cellucom has ventured into tie-ups with operators across GCC. Cellucom has signed an agreement with Oman based telecom operator Nawras to launch and promote usage of electronic vouchers by the country’s rapidly growing base of prepaid mobile subscribers. This unique initiative marks the departure of plastic card usage and redefines the future of recharge in Oman.

Cellucom shall now offer Nawras ‘e-recharge’ across its entire network of more than 600 dealers, which means all Nawras subscribers can now enjoy greater options for recharging than before. The joint initiative would facilitate both Nawras customers to obtain credit quickly and easily, wherever they may be located.

This expansion is in line with the company’s strategy to increase presence and further consolidate its geographical spread. “This is principally the sole driver behind all our moves as I see Cellucom’s portfolio increasingly becoming an expression of Fashionable Products and Intelligent Solutions,” stated Mr. Nagar.

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Arzaq Holding launched with a capital of Dhs150m

Founders committee of Arzaq Holding have elected Sheikh Tariq bin Faisal Al Qassimi as a Chairman of the board, following the launch of Arzaq Holding as a private shareholding company with a paid-up capital of Dhs150m.

In line with the ongoing regional economic growth, the company was incorporated to explore the untapped opportunities and to capture a considerable chunk of the existing business in various sectors, with special interest in financial and real estate sectors.

Founders include a selected group of high profile companies and elite businessmen such as The Kanoo Group, Zabeel Investments, United Holding, Sauod Limited, GIBCA, and Musahemat.
Sheikh Tariq bin Faisal Al Qassimi expressed his gratitude for the shareholders who trusted him, and wished that the company will position itself among the leading investment companies in the region.

In his statement on this occasion, Al Qassimi said: "We have a vast wealth of investment opportunities in a vibrant market that has already attracted huge investments. Therefore, our challenge lies in identifying the best investment opportunities and optimizing our benefits from such opportunities in a way that maximize the company profits and protect the interests of the shareholders." Speaking about the targeted sectors, markets and regions, Al Qassimi clarified: "We are looking forward to allocate an approximate amount of Dhs500m in a variety of financial, industrial and real estate sectors within the GCC countries during the coming 12 months. The current focus will be on the GCC markets, the leading markets that have become one of the most attractive destinations for international investments, due to their favorable investment climate based on long term strategies and plans to provide support and security for business and entrepreneurship'." Economists and market observers anticipate that the newly established company will be a quality addition to the market, as the ambitious company is willing and planning to offer up to date and innovative services with the highest levels of quality and reliability that will contribute in building a wide customer base. The company is projected to grow and expand on the foundations of the market experience and reputation of its founders.

In addition to the current attractiveness of the GCC markets, the results of Doha Summit, and the declaration of the GCC Common Market will open wide avenues for inter-gulf and foreign investments.

The unified market allows the citizens of GCC countries to benefit from opportunities in the Gulf economy and increase investment. It also intends to increase production efficiency, utilize available resources effectively and enhance the GCC's negotiating abilities among international economic groups.

The common market allows GCC citizens to participate in all economic, investment and services activities; practice professions and craftsmanship; deal and purchase shares; establish companies; work in government and private sectors; collect social insurance and retirement; own real estate; transfer capital; and benefit from education, health and social services. It also covers customs and residency. (WAM)

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Networking opportunity by the Bulgarian Business Council

Following the success of the Real Estate Seminar, the Bulgarian Business Council of Dubai & The Northern Emirates is holding a reception tomorrow, 12 December 2007. The event is organised at the Athena-Sophia Hall of the Majestic Hotel in Bur Dubai from 7 pm onwards.

The Guest of Honour will be the recently appointed Consul of Republic of Bulgaria in UAE, H.E. Mr. Raiko Pepelanov.
The event will offer opportunity for all members and guests to represent their companies, exchange thoughts and strengthen business and social relations.

The Bulgarian Business Council was established in Dubai in 2007 under the auspices of the Dubai Chamber of Commerce and Industry and the support of H.E. Mr. Milen Keremedchiev, the then serving Consul General of the Republic of Bulgaria to the UAE.

BBC aim is to offer practical assistance on a regular basis and maintain an active information network by organising events such as business seminars and social meetings with guest speakers.

The Council works in close association with the Bulgarian Consulate in Dubai, the DCCI, the Bulgarian Chamber of Commerce & Industry and other UAE and Bulgarian business and government organisations. The BBC board is composed of members who have extensive personal contacts in government and business circles in both countries and are therefore ideally placed to help member companies achieve their business aims.

Membership is open to any company or individual of Bulgarian origin or companies and individuals based in the UAE with interests in Bulgaria.

For further information, please contact the Bulgarian Business Council of Dubai & The Northern Emirates at Info@Bulgaria-Dubai.com.

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UAE in pilot programme to bring US and Arab business communities closer

Dubai World business unit TechnoPark represented the United Arab Emirates at a first-of-its-kind private sector programme aimed at developing business relationships between US companies and young Arab business leaders.

The Arab and American Business Fellowship Program (AABF) has been launched earlier this year in the US cities of Des Moines, New York, and Chicago. The programme hosted seven fellowship participants - four women and three men - from the Middle East in cooperation with the Young Arab Leaders organisation.

Zahra Al Dahmani, Senior Manager, Customer Service, TechnoPark, who was one of the participants said: 'It's just a great opportunity to learn about other cultures & business operations.' She said The AABF programme is aimed at promoting understanding and respect between American and Arab business communities.

As a joint effort between the US Centre for Citizen Diplomacy, Business for Diplomatic Action, the Young Arab Leaders in Dubai, and the National US Arab Chamber of Commerce, the pilot programme is designed to foster mutual understanding and respect between the American and Arab business communities. \

By developing a dialogue between the cultures, participants hope to create an environment in which information, opinions and knowledge flow both ways.
Programme participants are young Arab business leaders who have been selected by the CEOs of their companies as representatives who are active in their communities.

The participants met senior executives from Des Moines and New York companies for two weeks, present a programme for employees of the companies in order to share their insights about doing business in the Arab world, and participate in social & cultural activities in New York, Chicago, Des Moines, and Washington, D.C.

The programme comprised an orientation programme in New York, two weeks with host businesses in Des Moines, New York, and Chicago, and a final three days in Washington DC. Splitting the trip was designed to enhance the experience by showing two distinctly different areas of the US: a metropolitan city on the East coast and the Midwest Heartland.

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UAE named as one of the top world's innovators

The UAE has been named by a renowned business magazine as one of the World's Top Innovators. According to The World Business, a specialised business and economic magazine, the UAE ranked 14th in the list of nations and regions which are responding best to the challenge of innovation which is posed by Globalisation.The UAE is the only country in the Arab and Islamic World to achieve that ranking position, coming next in order after the US, Germany, UK, Japan, France, Switzerland, Singapore, Canada, Netherlands, Hong KOng, Demark, Sweden and Finland. The study that covered some 107 countries saw , Israel pushed back to position no 18, thus making the UAE the only country in the Middle East to have achieved such a higher ranking.According to World Business magazine, the biggest sign of the shifting tectonic plates of the world economy is the appearance of the United Arab Emirates at 14th in the global list."The brightest star in the Middle East - four places above Israel - UAE has benefited from government leadership that sets it apart from its neighbours through policies explicitly designed and implemented to attract skilled workers and technology-intensive companies. The result, particularly in Dubai, has been growing clusters of innovative companies", said the magazine.In recent years, said the magazine, innovation has pushed itself to the very top of policy-making and senior executive agendas as a result of globalisation. Source

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Investment firm for women launched by Dubai World

Forsa, an investment fund for women investors and entrepreneurs, was launched by Dubai World on Monday. Forsa is a company created by women for women, with a vision based on the three central tenets of attracting female investors, partnering with female entrepreneurs and developing woman business leaders.
Forsa will focus on women with investment capacity to build a AED 1 billion fund guided by an investment management team to deliver superior results. The company has already obtained a commitment of AED 100 million towards its goal. Forsa will also create a series of funds focused on a variety of sectors including real estate, retail, education, health and technology, and is expected to generate exclusive investment opportunities through its size and partnerships with other Dubai World companies.
Find more details from the Source , Source.

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