UAE GROK Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]
UAE and India to Sign Renewed Labour Agreement [May 28]
” The UAE and India are expected to sign a new labour agreement by the end of the year, a senior Indian official said. Vayalar Ravi, the Indian Overseas Affairs Minister, met Saqr Gobash Saeed Gobash, the UAE labour minister, on Wednesday to firm up the existing agreement on workers who move between the two countries. Ravi said Gobash was keen for the existing memorandum of understanding between the two countries about the flow of workers needed to be expanded. Some of the measures mentioned in the agreement needed to be more effective at the ground level. He was speaking to reporters at Indian Social Centre in Abu Dhabi after meeting Indian community members. Ravi said he had agreed and that further discussions on the proposed changes would take place shortly. Ravi expressed hope that the new MoU could be signed between the two countries in New Delhi before the end of winter..” [Complete Report]
UAE Minister Launches Tourism Project in Jordan [May 28]
“Jordan’s biggest real estate and tourism venture, the Marsa Zayed project, was launched by UAE Deputy Prime Minister Lt. General Sheikh Saif bin Zayed Al Nahyan. The project, developed by Al Maabar Investments, will be built at a cost of $10 billion. King Abdullah II of Jordan and UAE deputy prime minister Thursday laid the foundation stone of the project. The project includes a two-kilometer waterfront, high-rise residential towers, retail, recreational and entertainment facilities, business and financial districts and hotels. In addition, the construction of a state-of-the-art cruise ship terminal would serve as a gateway to Aqaba. The project will be implemented in different phases once the transfer of land ownership is complete..” [Complete Report]
US Exports to UAE Rose to $12 bn in 2009 [May 28]
“Trade between the US and UAE remains robust despite economic recession, says a report. US exports to the UAE rose from $3.6 billion in 2002 to $12.1 billion in 2009, representing a 237% increase. The report, released by the US-UAE Business Council Thursday, cites an increasingly diversified UAE economy as a source of the dynamic bilateral trade and investment relationship. It notes that the UAE economy continues to outperform most other nations, powered largely by increased infrastructure spending, real estate development, investments to expand oil production and growth of government-linked companies in areas including technology and alternative energy..” [Complete Report]
UAE to Expand Maltese Energy Port [May 28]
“Emirates National Oil Co. is to expand its oil storage and shipping facilities in Malta. ENOC subsidiary Horizon is to expand an oil storage terminal in Malta as well as construct a pier for very large crude carriers and two for vessels up to 120,000 deadweight tons, Gulf News reported Friday. The terminal is near the Marsaxlokk Port. Horizon declined to provide financial details of the project. Energy information provider Platts Middle East Editor Kate Dourian commented: “The move makes sense geographically and positions Horizon at the gateway into Europe and North Africa. I also think this is part of a longer-term strategy. Demand is flat in Europe at the moment and refineries are either cutting back or shutting down. Horizon will probably stock up on products until the market improves.”..” [Complete Report]
