|
Dubai to grow 3-5 %
Dubai's economy is projected to rebound by three to five per cent in real terms this year on the back of stronger performance in the tourism, trade and other sectors, a senior businessman from the emirate was reported on Sunday as saying.
Abdul Rahman Al Ghurair, chairman of the Dubai Chamber of Commerce and Industry, also said a sharp downturn in the emirate's property sector following the 2008 global fiscal distress depressed inflation and spurred a capital inflow.
"With the positive growth rate recorded in 2010 and the excellent investment climate in Dubai, as well as the positive forecasts of investors, the emirate is expected to record real GDP growth of 3-5 per cent this year," Ghurair told the Arabic language daily Alkhaleej.
He said several factors supported this year's projected growth, far above the 2.5 per cent expansion recorded last year, including better performance in the trade, tourism and financials sectors.
His figures for 2010 showed Dubai's exports and re-exports surged by 15.2 per cent to around Dh214.4 billion from Dh186.1 billion in 2009.
He said the start of 2011 was even more encouraging, with exports and re-exports leaping year-on-year by 24.2 per cent to Dh19.7 billion in January. In February, they swelled by 8.3 per cent to Dh17.5 billion.
---------------------------------------
Green Building Material Market to Reach $406B
JEDDAH: The global market for green building material is expected to be worth $406 billion by 2015, driven largely by environmental consciousness, high energy costs, and the understanding that green buildings contribute to long-term benefits such as improved efficiency, cost savings and higher production. As costs of green building materials drop, they are becoming increasingly popular the world over, a recent research revealed.
Governments around the region are enacting legislation to bring the industry into line with green building standards. Recently, Abu Dhabi rolled out the Arab world's first specialized green building rating system, Estidama. All new development in the emirate must comply with the standards set by the system, including commercial and government projects. Dubai too has been driving change through increasing implementation of LEED standards across the construction industry.
A growing demand for green building material has been noted in the regional real estate industry. This is driven by the increasing stress on implementation of green building standards by local governments and civil authorities.
Concern about the impact the construction industry has on the local environment and a realization of the need for sustainable development has fuelled a drive to align the construction industry to green building standards. This perceptible shift in the construction industry is to be reflected at Hardware+Tools Middle East 2011 - the only dedicated trade event for the hardware, tools, machinery and construction material in the Middle East - that will be held at the Dubai International Convention and Exhibition Centre on May 10-12.
Green roofs is one of the largest and fastest emerging product categories currently. The practice of planted green roofs is gaining momentum across the industry and is given a strong push by local authorities who are spear heading initiatives to increase the number of green roof projects in the region.
|
|
|
|
|
|
MEDC Chief Discusses Economic Development Plans With Arab American Chamber Board
![finney]()
Michael Finney, president and CEO of the Michigan Economic Development Corporation, discussed the state's plans for economic development with the American Arab Chamber of Commerce Board of Directors Thursday, March 17, 2011.
The AACC Board of Directors holds monthly meetings, and it includes major business leaders in the area.
"The meeting was very informative," said AACC Chairman Ahmad Chebbani. "We're grateful that Mr. Finney shared his precious time with our board."
Michigan is trying to become simple, fair and efficient. The proposed $1.5 billion reduction in business taxes will, once adopted, promise a new level of economic certainty for business.
The Michigan Economic Development Corporation is not disarming. We will replace our complex incentive-based way of doing economic development with a restructured tactical toolkit, built on the foundation of a simple tax.
We will work with our local economic development partners throughout the state to create the tools that they need to be successful. This will happen in the context of greatly increased economic development opportunities.
"We're eager to connect with investments from all over the world," Finney said.
To read more, visit www.americanarab.com
|
|
Nominate a Professional
The 6th Annual American Arab Professional Network Celebrating Success Banquet
Every year the American Arab Professionals Network of the American Arab Chamber of Commerce honors Arab-American professionals who serve as mentors and role models for other American-Arabs in the region.
The AAPN has honored professionals in the fields of Education, Finance, Legal, Medicine, Entrepreneurship and Technology who have demonstrated leadership and professionalism in their fields.
To nominate a professional, visit:
|
Upcoming Events
Export Opportunities in African, the Middle East and South Asia Markets
![access11]() The U.S. Commercial Service is sponsoring a two-day business forum to discuss export opportunities in Africa, the Middle East and South Asia Markets. The forum is held on April 26 & 27, 2011 at the Westin Galleria Houston at 5060 W Alabama in Houston, Texas.
The forum includes a sessions on market entry strategies, financing, and mitigating risk, concurrent sessions covering country and industry specific information and opportunities, pre-scheduled one-on-one meetings with Foreign Commercial Service Officers, high-profile keynote speakers and numerous networking opportunities.
Registration: $275 includes 2 breakfasts, 2 lunches, a hosted reception, and program materials. On-site registration: $325.
For more information and registration,
visit www.buyusa.gov/houston/access2011.html
|
Supporting the American Cancer Society
the Relay for Life Dearborn
Event: Relay For Life of Dearborn 7th Annual Spaghetti Dinner
When: Sunday, March 27th, 12-6pm
Where: Fr. Patrick O'Kelley Knights of Columbus Hall
23663 Park, Dearborn
Cost: $10.00 per person ($5 for ages 4-10)
Details: All you can eat spaghetti, plus salad, rolls, coffee and pop. Music, bake sale dessert and
silent auction items will also be available.
For more information, contact Denise Abdullah at deniseabdullah@hotmail.com, or at 313.522.8785.
|
|
| "The American Arab Chamber of Commerce builds economic bridges by promoting and empowering the business community it serves on a local, national, and international level." |
|
|