Sales of Gold Increase in Dubai
Sellers and traders at gold market in Dubai have expected the increase of sales of gold during summer by an average between 20 – 25 % compared to the same period of last year as a result of an expected more demand during this period which witnesses a great number of celebrations and weddings as well as offering presents, on the one hand, and the decline of metal prices at the international markets and settling under the level of $ 900, on the other.
Moreover, the volume of selling jewelry gold in Dubai has risen by 12% in April ,and by 55% during the first quarter of this year, whereas the value has increased by 23% as the consumers have become accustomed to the current high prices .
Mr. "Tamjid Abdullah", Deputy Executive Chairman of " Damas" Group expects the markets to preserve the current average of growth rate with regard to the sales these markets achieved during the first quarter of this year which has exceeded 23% , despite the fact that world prices have risen , reaching $ 1007, as a result of the increasing number of tourists who are visiting Dubai , and especially the European visitors due to the weakness of the Dirham and their keenness on buying gold by low prices when compared to the prices at the European markets which deal by the strong Euro.
Arab Loss $ 964 million because of Piracy
A new study on piracy in the field of world soft ware industry has shown that the total volume of losses of the manufacturing companies has reached $ 48 billion, $ 964 million of them were lost in the Arab World.
The study published by the Society of Producers of the international trade computer soft ware that the losses of the GCC Countries because of piracy have risen to $ 400 million after they were $ 388 million last year.
The Real Estate "Aradi" Company Launches" The Helices" Project in Abu Dhabi
The real estate " Aradi" Company has launched the project of " The Helices" at "Shams Abu Dhabi" area in " Al-Reem" island with a total cost estimated at 700 million Dirham.
" The Helices" project includes two housing towers comprising 31 floors , consisting from housing units, studios, one room, two rooms, and three rooms, all of which overlook the area in addition to trade centers and shops, a health club, a swimming pool, and a carage. It is worth mentioning that the project will be completed late of 2010.
"Global" Buys 11% of the National Company
For Consuming Industries
The International Kuwaiti Investment House "Global" announced yesterday that it bought a share estimated at 11,3 % at the National Company for Consuming Industries .
" Global" is the biggest investment bank in Kuwait in terms of market value , and it buys shares at companies and sells them through investment funds.
" Maha Ghouneim", member of the deputized Administrative Board at Global" has told Reuters in March that the bank aims at entering the Emirati, Bahraini, Qatari markets and that it will start working soon in Saudi Arabia.
Meetings of Housing Experts in Preparation
For Tehran Conference
Iranian Minister of Housing and City Buildings, Mohammed Sae Kikhia" has opened in Tehran yesterday the meeting of the experts of housing and city buildings in Asia and The Pacific region. The meetings will last till next Wednesday , the date set for the beginning of the activities of the 2nd Conference of Housing Ministers in Asia and The Pacific region to be held in Tehran under the title :" Towards a Sustainable Development of Cities and Growth With Preserving Justice and Identity". " Kikhia" was quoted by " Arana" News Agency as saying that 20 ministers of Housing and City Buildings from Asia and the Pacific region will take part in the conference which aims at considering issues related to building new cities and also studying problems which the new cities suffer from as well as issues related to living in the suburbs, health, water and sewage , natural disasters , and how to build houses that are able to stand these natural disasters.
The First Researches Center for Solving the Conflict at World Trade Organization in China
Shanghai Institute for External Trade, in cooperation with the Consultant Centre for the Affairs of World Trade Centre has established the first center of its kind for the researches of a mechanism for solving the conflict at the World Trade Organization in China. According to the Chinless News Agency, " Shinkhwa" the centre is a bank of "minds" which carries out academic searches and offering proposals and recommendations to the government.
Economic Experts have expected the volume of investments at the telecommunication sector in Saudi Arabia to reach by 2010 120 billion Riyal.
The Chinese trade surplus has reached $ 7, 16 billion in April with an increase estimated at $ 4, 13 billion achieved in March, according to what the Chinese Custom House said on Monday.
The International Real Estate Emirates Company, the joint real estate arm of the International Investment company and the National Holding company has announced that it has officially launched its trade mark under the name " the Real Estate Bloom".
The Qatari Telecommunications Company " Qutel" and the Group of " Abd Al-Rahaman Ali Turki for Trade and Construction " Atco" have announced that they entered in a partnership at " Wai Trip Limited" which provides wireless communications with the quick internet.
" Eva" for Hotels and Resorts has announced that it signed the second partnership agreement with " Nakhil" company , through which it will own two pieces of land near the resort of queen of "Saba" , located at the hills of the island of " Al-Nakhla- Jumaira" in Dubai. The new resort will be an extension of the Kingdom of " Saba’ with a total cost estimated at $ 2 billion.
Bahrain and Qatar have signed the agreement for building the bridge of Amity which will connect the two countries, thus becoming the tallest bridge in the world. It is worth mentioning that the French Vinci has been chosen for building the 40 K.M. bridge.
Indicators is a daily economic watch newsletter about the Near East, issued by New Orient News agency in Beirut, Lebanon. It is available on Voltairenet.org in Arabic, English and Spanish. Also worth a read is Tendencies, the daily Near East political watch newsletter, available in Arabic, English, French, German, and Spanish languages.