Wealthy People in the UAE Should Shoulder a Social Responsibility

"Wealthy people should shoulder social and moral responsibilities towards s generous giving society". With these frank and direct words Abu Dhabi sharply criticized the private sector and the wealthy people in the UAE because of evading from their social duties, saying that the majority are not investing in the socio-economic developmental process.
The Ministry of Planning and Economy said that the profits of companies and individuals have witnessed a big increase in the last few years due to the economic uprising in the UAE and oil prices which hit a record, in addition to the investment environment free of tax. _ Yet, small parts of money were investments in developing the society. Thus, the private sector did not fulfill enough its social duties in a way that would make a concrete and real contribution in developing Abu Dhabi and the UAE in general.

The Real Estate "Abyaar" Company Launches Real Estates in the UAE

The real estate "Abyaar" company said that that it entered in a partnership with the Emeriti "Al-Madaen" company for carrying out real estate projects in Dubai with a total value estimated at about 3 billion Dirham. _ The projects will comprise building a housing tower with 107 luxerious housing units located at "Marsa Dubai" in addition to "Alta Town".
Moreover, housing and trade centers will build within the second project located within the project of "Midan" near "Nad Al-Shaba" area in Dubai.

The Real Estate "Dyar" Sells the Project of " Mirar Residence" Within Hours of Its Announcement

The real estate "Diyar" company said yesterday that it sold all its housing units at the project of "Mara Residence" which comprises three towers after a few hours of its announcement.
The project includes 413 flats with recreational facilities , swimming pools, fitness center, and a car rage .

A Slight Rise at Dubai Stock Market and a Slight Decline at Abu Dhabi Stock Market

The index of Dubai stock market has closed at 5669 points, with an increase estimated at 34% of its value, at a time the volume of dealings witnessed a slight rise, reaching 833 million Dirham, opposite to 198 million shares.
Moreover, the National Cement Company, "Al-Fardous" Company, and Dubai for Investment Company have achieved the largest profits consecutively, whereas the shares of "Al-Diyar", "Al-Emarat- Dubai National Bank" , and " Tamweel" have achieved a big loses.

Small Indexes

- Statements have revealed that the costs of living in Saudi Arabia last April witnessed an increase, raising the total volume of costs of living by 9%.
- The total volume of findings of Abu Dhabi Fund for Development since its establishment till now has reached about 23 billion Dirham, 12, 55 billion of it are fun dings by the Fund and 9,46 billion Dirham are fun dings granted by Abu Dhabi government supervised by the Funs.

Companies Indexes

- The Administration of the Syrian-Kuwaiti stock market said that the shares of the Holding Syrian-Kuwaiti company will be registered at the official market within the investment sector as per of next Monday.
- The Australian Qantas Airways company said that it will cancel jobs, close a certain airlines, and sell a plane for facing the surge of fuel prices.

Exhibitions& Conferences

- More than 20 Russian industrial companies, most of which from " The Oural" region will take part at Damascus International Industrial Exhibition held for the 14th times in Damascus.
- Tehran and Bakou signed on Tuesday, on the sidelines of the 1st International Conference on Trade and Investment, an agreement in the Azerbaijani city of "Shmakhi" for producing 10000 cars of "Semand" model within two years in Azerbaijan.


- The Bahraini " Al-Khalij" Airlines company intends to buy 30 airplanes of Airbus model with a total value estimated at about $ 4,86 billion.
- Officials in Brussels have said that the European Commission are holding talks with the giant German RWA company for Energy aiming at discussing means of putting an end for the company’s monopoly on the German gas market.

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.