UAE GROK Daily News – Excerpts from International Media Reports
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US Imports to UAE Worth $12 Billion Last Year [May 31]
“US imports to the UAE topped $12 billion last year – a six-fold increase in the last decade, according to US Assistant Commerce Secretary Suresh Kumar, Zawya.com reported Monday.  The UAE is one of the largest markets for American goods and services imported to the region, Kumar added.  US foreign direct investment in UAE in 2008 was worth more than $3.4 billion, and UAE companies’ foreign direct investment in the US was worth more than $2.7 billion in 2008, he said.  Last year, China surpassed the US as the largest importer of goods into the UAE..”  [Complete Report]

Journalists’ Association Calls for International Intervention  [May 31]
” The UAE Journalists’ Association has called on the International Federation of Journalists and other international organisations to intervene and determine the whereabouts of Gulf News reporter Abbas Al Lawati.  Mohammad Yousuf, chairman, said in a press statement, that he has made extensive calls to Jim Bu Melha, President of the Federation and the General Secretariat in Brussels, urging them to take immediate action to determine the fate of Al Lawati, who has not been in contact since 2am on Monday.  He added that urgent letters have also been sent to international organisations for the protection of journalists, and has called on them to form an international investigative committee to bring those responsible to justice.  The attack was a violation of international laws and flagrant aggression that took place in front of the whole world, Yousuf said..”  [Complete Report]

UAE Condemns Freedom Flotilla Attack [May 31]
“The UAE has condemned Israel’s violent attack on the Freedom Flotilla on Monday.  The attacks against the flotilla lead to the death of at least 19 civilians, and wounded many others.  The UAE condemned this violent act that occurred on international waters and violated international laws by targeting civilians.  Shaikh Abdullah Bin Zayed Al Nahyan, Foreign Minister, said in a statement made on Monday that he called on the Secretary General of the United Nations (UN) to carry out the necessary investigations on the attack, as well as submitting a clear report of this matter to the UN.  Shaikh Abdullah said that the attack on civilians traversing across the sea to deliver aid to the Palestinian people strongly defied international laws, and is an unprovoked response against an act of humanitarian intentions.  He added that Israel must be held responsible for its actions, calling on the Security Council to arrange an emergency meeting to address this issue and take the necessary procedures..” [Complete Report]

Growing Population Needs Twice as Many Doctors  [May 31]
“The number of doctors and nurses needs to double over the next decade to cope with an ageing and rapidly expanding population, new figures have revealed.  A report from the Health Authority-Abu Dhabi (HAAD) estimated that the capital would need up to 102 per cent more doctors, from the current 5,300 to as many as 10,700. The number of nurses will need to rise by as much as 101 per cent, from 6,900 to 13,900.  The report also pointed to shortfalls in fields including paediatrics, gynaecology and orthopaedics. The transience of the UAE’s expatriate population is an additional hurdle. Some 16 per cent of doctors quit their jobs each year – so to increase numbers by just five per cent hospitals would need to hire more than a fifth of their workforce each year. Some 13 per cent of nurses quit each year. “If churn rates remain at their 2009 level, this will require some 1,600 doctors and almost 1,800 nurses to be recruited annually,” the HAAD Statistics 2009 report stated..”  [Complete Report]

UAE, Hong Kong to Collaborate on Developing Tourism [May 31]
“The United Arab Emirates (UAE) and Hong Kong will collaborate on increasing tourist flow in both places, and both governments have agreed to take part in each other’s cultural events.  The Abu Dhabi Tourism Authority (ADTA) and the Hong Kong Special Administration Region (HKSAR) agreed on the collaboration after exchanging tourism data on the performance of their respective tourism sectors in 2009 and 2010.  Tourism in Hong Kong and Abu Dhabi was low in 2009, with the Asian region receiving around 29.5 million visitors, a rise of only 0.3 percent from 2008, while Abu Dhabi recorded only two percent increase in its total number of guests.  Hong Kong authorities said the Gulf region, India and Russia were its top three emerging markets, while the Abu Dhabi authorities said Hong Kong has played a key role in its greater China market development strategy..”  [Complete Report]

UAE GROK Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Decree Announces UAE’s Official Accession to Revised Kyoto Convention  [May 30]
“President His Highness Shaikh Khalifa Bin Zayed Al Nahyan has issued a decree on the accession of the UAE to the Revised Kyoto Convention in order to facilitate and coordinate the customs procedures  after the decree has been approved by the members of the Supreme Council and rulers of the emirates.  The decree instructs the Federal Customs Authority Chairman to take the actions required for finalising the accession to, and implementation of, the Convention.  Khalid Ali Al Bustani, Acting General Manager of the Federal Customs Authority, said that joining the Revised Kyoto Convention, with its advanced customs procedures, would enhance trade activities and increase cooperation between the UAE and the world taking into consideration the country’s  status and position on the map of the world trade.  “Joining this Convention will benefit the UAE’s economy since it will facilitate and increase international trade activities and consolidate the efforts currently made to support the country’s  competitiveness in this regard by the application of international security initiatives and making readily- available the data in order to apply standards for specifications of high risk trade deals and the application of secure technical systems,”..”  [Complete Report]

Shaikh Khalifa Pardons 263 Prisoners  [May 30]
“Some 263 prisoners in Abu Dhabi’s correctional and punitive establishments were ordered to be released upon the orders of President His Highness Shaikh Khalifa Bin Zayed Al Nahyan.  Shaikh Khalifa will also pay the prisoners’ financial debts. The prisoners are serving different prison terms.  The president also ordered that work opportunities be made available for the released UAE nationals according to the followed procedures while non-nationals will be deported.  The release order of imprisoned nationals and nationals of other countries comes in line with Shaikh Khalifa’s keenness to give prisoners another chance to start their lives again and to alleviate the suffering of their families.  The decision to release prisoners and to pay their financial debts is a continuation of the route trodden by Shaikh Khalifa on different occasions, which comes to enhance the spirit of forgiveness as a main UAE society trait..”  [Complete Report]

UAE Oil Spill Team on Standby to Assist in Gulf of Mexico Cleanup  [May 30]
“A team of oil spill experts were on standby in the United Arab Emirates, ready to help in the Gulf of Mexico cleanup efforts if called to do so, officials in the Middle Eastern country told CNN Sunday.  “The offer is still on the table to the U.S. government through their embassy here. It is about 30 people we are offering to send; 30 staff. The team is made up of some six Emiratis and the rest are technicians from Egypt, Sudan, Algeria and the Philippines; all of whom are based here for work of course,” said Craig Buckingham of the Abu Dhabi National Oil Company.  The United Arab Emirates originally made the offer two weeks ago.  “Basically, it’s an offer made on behalf of the government in recognition of this environmental issue. It is an offer of support,” Buckingham said. “We have people and supplies if they wish it. It’s on the table. We’re ready to go. We’re just waiting for their call.”..”  [Complete Report]

UAE Population Rises to 8.19 mln [May 30]
“The population of the United Arab Emirates (UAE) has reached 8.19 million and is continuing to grow despite the global financial crisis, a local English daily reported Sunday.  The UAE population stood at 8.07 million in 2008 and had risen by 125,000 last year, The National said, citing a report released by the National Bureau of Statistics. According to the newspaper, the figure is higher than other previous official figures and projections.  The Report on Economic and Social Dimension 2009 also showed that the majority of the population, 81.9 percent, is in the 15 to 59 age group, while just 1.3 percent are aged 60 or above, it said.  Seventy-nine percent of the expatriate population is ” economically active,” or in work, compared with 45 percent of Emiratis, the report said, adding that nearly 20 percent of the population were voluntarily unemployed while 2.3 percent were looking for jobs..” [Complete Report]

UAE Ports Set For Sharp Rebound in Throughput  [May 30]
“UAE ports will see a sharp rebound in their throughput this year, led by Abu Dhabi’s Mina Zayed Port and Jebel Ali port, helping the country to remain the largest exporter in the Gulf, according to a recent study.  Ports in Dubai will return to growth this year, with throughput jumping more than seven per cent to 149.18 million tonnes this year after an estimated drop of three per cent in throughput to 139.25 million tonnes in the previous year, according to the recent study by Business Monitor International (BMI).  The UAE-based port operator Dubai Ports World (DP World), which manages both of Dubai’s ports – Jebel Ali Port and Sheikh Rashid Port —registered a 46 per cent year-on-year (yoy) slump in profits to $333 million (Dh1.22 billion) in 2009 compared to $621m in the previous year.  “In terms of total tonnage, we expect volumes handled by the Port of Jebel Ali and Port Rashid to return to growth after contracting as a result of the recession in 2009. The Mina Zayad Port in Abu Dhabi is set to experience a much sharper growth, gaining 20.6 per cent to 5.91m tonnes this year,” said the study..”  [Complete Report]

UAE GROK Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

U.A.E. Economy to Expand 3.2% in 2010 With Oil at $85 a Barrel [May 29]
“The United Arab Emirates’ economy may expand as much as 3.2 percent this year with crude oil prices around $85 a barrel, according to Economy Minister Sultan bin Saeed al-Mansouri.  If oil prices are at $75 a barrel, the Arab world’s second- largest economy will grow between 2 and 2.5 percent this year, al-Mansouri said at a press conference in Dubai today. That’s above the International Monetary Fund’s estimate of 1.3 percent for 2010.  The U.A.E.’s economic growth slowed last year to 1.3 percent, according to the U.A.E. government’s annual economic report, as credit conditions tightened, global trade slowed and demand for commodities weakened.  “Given the state of the global economy, the OPEC-mandated contraction in the oil sector and the problems in Dubai, I’m very surprised the economy showed growth last year,”..”  [Complete Report]

Dubai Ruler Launches Arabic Web Address  [May 29]
“The Arabic domain name of the website of Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, has been launched, WAM, the state news agency, reported yesterday.  The launch comes after the Telecommunications Regulatory Authority won approval from the Internet Corporation for Assigned Names and Numbers to use the domain name in Arabic, placing the UAE among the first four countries in the world to register domain names in an official language that does not use Roman script, WAM said.  The site can now be reached through either of the following addresses when typed in Arabic script: “sheikh-mohammed-bin-rashid.emarat” or “mohammed-bin-rashid.emarat”.  The site’s address in English is www.sheikhmohammed.co.ae..”  [Complete Report]

Samsung Clinches $1.7bn UAE Petchem Contracts  [May 29]
“Korea’s largest engineering company Samsung Engineering and its JV partner Maire Tecnimont of Italy won two contracts worth $1.7 billion from Abu Dhabi Polymers Company (Borouge) to build petrochemical plants in the emirate.  Samsung said as per the contract, the duo will build a $1.25 billion polyolefin plant and a $400 million low density polyethylene (LDPE) plant for Borouge, a joint venture between Abu Dhabi National Oil Company (Adnoc) and Austria’s Borealis.  Tecnimont, a reputable global player in the EPC industry, was a contractor for the Borouge 2 project and headed Feed for Borouge 3, said a top Samsung official..”  [Complete Report]

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]

UAE GROK Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Dolphin Plans U.A.E. Gas Pipeline Work in Mid-June [May 27]
“Dolphin Energy Ltd., the Abu Dhabi state-controlled venture transporting natural gas to the rest of the United Arab Emirates, is planning five days of pipeline maintenance in mid-June, cutting shipments into the country.  The work will cut gas supply from Qatar to the U.A.E. through the pipeline by half to about 1 billion cubic feet a day, Dolphin said in an e-mailed statement today.  The Dolphin pipeline, 51 percent-owned by Abu Dhabi’s Mubadala Development Co., imports about 2 billion cubic feet of gas daily under long-term supply contracts with state-run Qatar Petroleum. The U.A.E., which holds about 8 percent of global crude oil reserves, needs to import gas to fire power plants as energy demand grows.  The pipeline work had been planned to start tomorrow and Dolphin delayed the maintenance to “optimize our onshore and offshore shut down operations,” it said in the statement..”  [Complete Report]

UAE to Gain From New Trade Terms  [May 27]
“Dubai’s economic recovery could be quicker than anticipated, Stephen King chief economist at HSBC Holdings said in Dubai on Wednesday.  Speaking to reporters at the Capital Club, King said Dubai, currently going through a debt restructuring, will recover relatively quickly due to the rising oil prices and the good infrastructure it has built over the past few years.  Last week the Institute of International Finance (IIF) said in its regional outlook that Dubai’s debt refinancing challenges are manageable and should be viewed in the context of the global financial crisis.  Dubai’s gross domestic product (GDP) represents 33 per cent of the UAE’s GDP and 55 per cent of the UAE’s non-hydrocarbon GDP. The IIF estimates Dubai’s debt at about $107 billion, equivalent to 136 per cent of its GDP while the UAE’s a net foreign asset position is projected at $280 billion at end-2009, or about 130 per cent of GDP..” [Complete Report]

UAE Humanitarian Convoy Carries 700 Ton of Aid Into Gaza Strip  [May 27]
“A convoy of trucks carrying around 700 tons of emergency humanitarian food and medical aid from the UAE has entered Gaza Strip to help mitigate the humanitarian conditions of Palestinian Gazans.  The UAE’s most recent Gaza relief operation is being carried out by the Red Crescent Authority, or RCA, in coordination with the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), a Palestinian Presidential Committee, the UAE Embassy in Cairo, Egyptian Red Crescent Society and Palestinian Red Crescent.  The humanitarian aid convoy has been sent to Gaza upon directives from President His Highness Sheikh Khalifa bin Zayed Al Nahyan, Vice President and Prime Minister of UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum. It receives support from H.H General Sheikh Mohammed bin Zayed Al Nahyan, crown prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces and is being closely followed up on by H.H Sheikh Hamdan Bin Zayed Al-Nahyan, Ruler’s Representative in the Western Region, Chairman of RCA..”  [Complete Report]

UAE GROK Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

UAE -  South Korea Deals in Danger  [May 26]
“Coming off a string of multibillion dollar deals, the UAE and South Korea are making beautiful music together. In December last year, a consortium led by Korea Electric Power won a $20 billion deal to construct four nuclear energy plants in the UAE. Samsung, Hyundai, Westinghouse, and Toshiba are other members of the winning consortium. The mega deal was the beginning of a deepening relationship between the two nations, as Samsung Engineering in April took home a $1.5 billion contract from Abu Dhabi Gas Development Company.  With Sheikh Mohammed bin Zayed in Seoul this week on a three-day diplomatic and economic visit, talks between Zayed and South Korean president, Lee Myung-bak suggest a deepening relationship that comprises more business and more politics.  “There is no doubt the mutual relationship between the two countries has witnessed great strategic shifts with the winning of the Korean consortium,” Sheikh Mohammed said.  Upon his arrival yesterday, the Crown Prince reiterated the UAE’s aspiration to “develop and deepen our relationship with active world economic powers, with Korea being at the forefront,” the National said.  But as global markets posted sharp declines yesterday, the specter of Korean conflict is an ominous backdrop..”  [Complete Report]

UAE Red Cresent Authority Will Deliver Humanitarian Aid To Gaza  [May 26]
“The United Arab Emirates (UAE) Red Crescent Authority (RCA) will carry out two shipments of humanitarian assistance to Gaza Strip in the coming two days via The Rafah Border Crossing in Egypt to support the humanitarian conditions there, reports Emirates news agency (WAM).  The relief convoy, which is being sent as per directives of UAE President H.H. Sheikh Khalifa bin Zayed Al Nahyan, will carry 700 tonnes of necessary food Stuff in addition to huge amounts of medical supplies at a total value of Dh3.5 million (US$952,847).  This assistance comes in line with the continued efforts UAE is making to alleviate the humanitarian suffering in Palestine. It comes also as part of the RCA’s ongoing relief and humanitarian programmes to improve living standards and support essential services in Gaza.  An RCA delegation led by Chairman of the Board Ahmed Humaid Al-Mazrouei will head to Cairo Thursday to supervise and facilitate the crossing of the convoy into Gaza..”  [Complete Report]

UAE to Become First Arab Country to Launch Arabic Content Domain Name  [May 26]
“The Telecommunications Regulatory Authority (TRA) will launch by the end of May a new Arabic content domain (.emarat), becoming the first Arab country to obtain the approval of the Internet Corporation for Assigned Names and Numbers’ (ICANN). (.emarat) (.??????) will be the official Arabic top level domain for the United Arab Emirates. Mohamed Nasser Al Ghanem, Director General of the TRA, told the media today at the Emirates Palace ICANN has chosen the UAE to become the first Arab country to launch its Arabic domain name for the availability of the technical requirements and its ultra-modern telecommunications infrastructure. Rod Beckstrom, ICANN CEO was present at the press conference.  The move is part of TRA’s strategy to support and enhance Arabic content on the Internet and has been made under the new directions of ICANN, the international corporation responsible for managing the assignment of domain names and IP addresses, which allows the use of languages other than English as an equivalent to the domain names for countries. emarat” is the Arabic equivalent for the currently used domain name “.ae”..”   [Complete Report]

UAE Watchdog Denies Banning Sex and The City 2  [May 26]
“A long-awaited movie sequel set in Abu Dhabi opens worldwide today – but not in Abu Dhabi.  The local distributors of Sex and The City 2 never applied for permission to screen the film in the UAE and never submitted it for approval, the National Media Council (NMC) said yesterday.  A spokesman for the NMC said: “The first Sex and the City movie was not shown in the UAE because the local distributor never applied for it to be shown. As for Sex and the City 2, it [the distributor] has also not asked us for permission for the film to be shown. This is something of the distributor’s own choice.”  The NMC oversees all films and media distributed in the country and must approve the film before it hits the screens. But despite reports that it had been banned, an official at the NMC said yesterday that the council was never sent a copy to review. Without seeing the content, NMC officials say, a decision on whether or not the film could be shown could not be made..”  [Complete Report]

UAE Picks Rifles From South Korea  [May 26]
“The United Arab Emirates has placed an order for K11 airburst rifles, becoming South Korea’s first export customer for the weapon, the Defense Acquisition Program Administration said.  The emirates placed the order for 40 K11 infantry rifles during the Special Operations Forces Exhibition Conference 2010 earlier this month in Jordan. “Once a final contract is signed, it will be the first export sale of the K11, possibly making it one of the country’s major export items together with the T-50 supersonic trainer jet and K2 Black Panther main battle tank,” said a statement from the defense acquisition program.  A final signing of the contract is expected by July and the unit price per rifle is estimated at $14,000..”  [Complete Report]

Russia Firm Plans $320 mln UAE Iron Mill  [May 26]
” Metalloinvest, the Russian steel and iron ore firm controlled by billionaire Alisher Usmanov, plans to invest $320 million in five years to build its second mill in the United Arab Emirates, a company executive said on Wednesday. In 2007, Metalloinvest invested around $160 million to build the Hamriyah Steel rebar plant in the northern emirate of Sharjah which has a capacity to produce one million tonnes of rebar per year.  “We have already booked land in Sharjah next to our existing plant there and we are looking at building a new plant which will need an investment of around $320 million,” said Shukhrat Nishanov, general manager of Hamriya Steel.  The new plant will produce direct reduced iron (DRI), which is used to make steel, said Nishanov.  “We will probably be looking for a partner to work with on this project, but for now we are just waiting to the effects of the economic crisis to lessen before we take steps,” he added..” [Complete Report]

Mars Opens New Chocolate Bars Factory in UAE  [May 26]
“Mars GCC, the leading regional manufacturer of chocolate products in the Middle East, today opened its new chocolate bars factory in Dubai. With an investment of over $40m this factory will produce Mars and Snickers bars for the GCC markets.. ..Speaking at the opening, Ahmed Bayoumi, General Manager of Mars GCC, said, “Mars GCC has been experiencing double digit growth year on year since the beginning of the decade. In 2009 Mars GCC net sales exceeded $450m. We are pleased that consumer demand in the Middle East has and continues to generate opportunities for stable long term growth. This has led to the investment of more than $100m in our manufacturing unit since 1998. We are committed to strenghthening our position as the leading chocolate manufacturer in the Middle East and our increased presence in GCC will help us achieve this growth by supporting consumer and customer needs in the region.”..”  [Complete Report]

UAE GROK Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

UAE Launches National Nutrition Strategy  [May 25]
“UAE launched a national nutrition strategy to help fight obesity and its related complications and may force fast food groups to inform people what exactly they are eating.  Unhealthy eating and lack of exercise has given UAE the dubious distinction of being the country with the second-highest incidence of diabetes in the world. A 24 per cent of the population over 20 years of age suffers from the debilitating disease.  The nutrition strategy will include educating people on what to eat to keep healthy, the need to do daily exercise and will promote breastfeeding. The five-year strategy was advised by the World Health Organisation. A WHO official said one of the recommendations is to force fast food groups to list the content of their foods..”  [Complete Report]

Khalifa Confers UAE Order on Kazakhstan Premier [May 25]
“President His Highness Shaikh Khalifa Bin Zayed Al Nahyan on Monday received Karim Massimov, Prime Minister of Kazkhstan.  Shaikh Khalifa conferred the ‘Order of Federation’ on Massimov.  The Order, which is usually conferred on presidents and crown princes, was presented to Massimov to emphasise the friendly ties between the UAE and Kazakhstan.  Shaikh Khalifa expressed his wish to further strengthen the friendly relations between the two countries. He also affirmed the UAE’s keenness to boost cooperation with Kazakh-stan by providing several areas of investment and expanding the prospects of joint cooperation.  They discussed ways to bolster bilateral relations across various sectors for the benefit and prosperity of their respective citizens..”  [Complete Report]

IMF May Boost U.A.E. Growth Forecast  [May 25]
“The International Monetary Fund may revise higher its growth forecast for the United Arab Emirates amid expectations that a settlement to Dubai World’s $23.5 billion debt restructuring will boost the second-largest Arab economy, an official said.  “We think its a very positive development,” Masood Ahmed, the IMF’s Middle East and Central Asia director, told Zawya Dow Jones in an interview. “Once it’s implemented and completed it will help restore economic confidence in the market.”  Last week, Dubai World reached a broad agreement to pay off its creditors and reduce its $23.5 billion of debt, lifting a cloud of uncertainty that hung over the emirate’s economy.  According to the IMF, the U.A.E.’s economy will grow 1.3% this year after shrinking 0.7% in 2009 as the global financial crisis hit oil prices, the country’s main source of foreign currency income..”  [Complete Report]

UAE to Plug Holes in the Legal, Financial System  [May 25]
“”The UAE is introducing a wide-ranging programme to address regulatory and legal shortcomings in our financial system,” said Ahmed Humaid Al Tayer, Governor of the Dubai International Financial Centre, speaking at the Menasa forum yesterday. “Although we expect a return to high economic growth, it is critical that we urgently address the deeper risks and challenges that the economic crisis revealed.”  He said this in his welcome address, and added that “in the coming years, fiscal policy measures combined with systemic reform will be vital to ensuring that the recovery becomes firmly entrenched in Menasa and that our growth remains strong, sustainable, and balanced”.  Speaking of the potential of the Menasa region, he said: “The region has a population profile that is creating huge new demand, leading to production growth and greater diversification. The region’s large and mostly young population of 1.6 billion people is expected to grow at a rate of 1.4 per cent over the next decade.”..”  [Complete Report]

UAE GROK Daily News – Excerpts from International Media Reports
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UAE Developers Set to Win Iraq Projects  [May 24]
“Negotiations between the Iraqi National Investment Commission (INIC) and several UAE real estate developers and investments companies on “big and giant” projects in different parts in Iraq have reached “advanced stages”, a top Iraqi official said.  Sami Al Araji, chairman of the Iraqi National Investment Commission said the projects under negotiations are worth nearly $70 billion (Dh257 billion) and that the talks are expected to be finalised in the near future.  “The two sides [the INIC and Emirati companies] are serious in their desire for the talks to succeed, and things are going well, and in the right direction ” Al Araji told Gulf News in an exclusive interview from Iraq. Talks have reached “advanced stages”, and “the details are now under discussion”, he added, without giving further details.  Once completed, the total value of these contracts is estimated at $70 billion, Al Araji said..”  [Complete Report]

UAE Aims to Better Manage Debt [May 24]
“The United Arab Emirates plans to set up a federal debt-management office to better regulate borrowing after Dubai’s financial problems endangered growth in the second-largest Arab economy, an official said.  “The government is set to issue a public-debt-management law later this year,” said Sheik Ahmed Bin Saeed Al Maktoum, chairman of Dubai’s Supreme Fiscal Committee, at a speech given in the emirate Sunday.  Federal authorities are seeking to improve oversight of borrowing after Dubai’s government and its state-owned entities racked up about $100 billion of debt while building infrastructure and buying assets overseas during the boom.  The emirate has been forced to restructure more than $23 billion of debt owed by one of its largest state-controlled companies, Dubai World.  “The measures taken by Dubai in the past few months have created renewed confidence among global financial institutions,”..”  [Complete Report]

Areva T&D: Wins EUR90M UAE Substation Contract  [May 24]
“French nuclear group Areva SA (CEI.FR) Monday said its power transmission and distribution unit, which it is selling, won an order worth around EUR90 million in the United Arab Emirates.. ..Areva is selling its transmission and distribution unit to a French consortium of Alstom SA (ALO.FR) and Schneider Electric (SU.FR), which plans to split it between them, with Alstom taking the transmission part and Schneider the distribution. Areva didn’t say to which of transmission or distribution this new UAE contract corresponds..”  [Complete Report]

U.A.E. Seeks Briton in Hamas Official’s Death  [May 24]
“Officials in the United Arab Emirates have issued an arrest warrant for a British man they are seeking in a probe of the January killing here of a top Hamas official, according to a person familiar with the situation.  The new warrant brings the suspect tally in the case to 33 and adds what Dubai officials believe is the first suspect operating without an alias to the list. Since the January killing of Mahmoud al-Mabhouh in a Dubai hotel room, police here have released a series of details about more than two dozen suspects, who officials say used forged or fraudulently issued passports to plan and carry out the killing.  However, Dubai officials believe the new suspect used his real passport, which could make it easier for international authorities to find him, according to the person familiar with the situation..”  [Complete Report]

German Chancellor Arrives in UAE [May 24]
“German Chancellor Angela Merkel arrived in Abu Dhabi today on an official visit to the UAE during which she will hold talks with a number of senior officials on bilateral relations.  Merkel is accompanied by a high-level delegation in her tour of the region. Upon arrival she was received by Minister of Economy Sultan Saeed Al Badi, UAE ambassador to UAE Mohammed Ahmed Al Mahmoud and German ambassador to UAE Klaus-Peter Brandes..”  [Complete Report]

UAE GROK Daily News – Excerpts from International Media Reports
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Mobile Spam Messages to be Blocked in UAE Soon  [May 23]
“Mobile phone subscribers in the UAE will soon have the choice of blocking unwanted commercial and promotional text messages.  The Telecommunications Regulatory Authority (TRA) has announced that it has asked telecommunications operators du and etisalat to provide subscribers with information on how to block incoming text messages.  A TRA official told the local Arabic newspaper Emarat El Youm that beginning next June subscribers will be able to block all spam messages.  The TRA has reached an agreement with du and etisalat on the matter and the option to block unwanted promotions text messages will be made available based on the subscriber’s request..” [Complete Report]

Aabar Raises $800 Million Loan Amid Refinancing Needs  [May 23]
“Aabar Investments PJSC raised $800 million loan as the largest shareholder in Daimler AG seeks to expand and meet its refinancing requirements.  “Aabar has nearly 8 billion dirhams in term loans scheduled to mature in 2010 so they are facing significant refinancing pressure,” said Mark Friedenthal, a fund manager at Abu Dhabi Commercial Bank. The three-year club loan with local and international lenders will be used for general corporate purposes, the Abu Dhabi-based company said in a statement to the emirate’s bourse today without giving further details.  Aabar has three loans due this year, including a 1.22 billion-dirham loan used to finance the purchase of a stake in Banco Santander (Brasil) SA, and a $1.6 billion short-term loan for investment financing, the company’s 2009 financial statement shows..”  [Complete Report]

UAE, Kazakhstan to Sign Customs Pact  [May 23]
“The United Arab Emirates (UAE) and Kazakhstan will sign a customs agreement that is expected to help stop illegal trade practices and protect economic, social and cultural interests of the two countries.  The UAE’s Federal Customs Authority (FCA) had already signed the final draft accord with Kazakhstan in Astana earlier this month.  However, the official signing of the final pact is scheduled in the next few days upon ratification by the relevant national agencies and the leaderships of both countries.  Head of international relations at FCA, Saud Al-Akroubi said the accord would strengthen economic and trade ties, as well as stop illegal commercial practices and protect economic, social and cultural interests of both the countries.  The agreement provides for exchange of customs data between the two countries, he explained..”  [Complete Report]