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In the News
Gas prices down 1 cent
AAA Michigan says gasoline prices are down 1 cent per gallon over the past week to a statewide average of $4.14.
The auto club says today it's the first weekly decline in 12 weeks. The statewide average is about $1.22 per gallon higher than last year at this time.
Last week, in addition its regular survey typically released on Mondays, AAA Michigan reported Tuesday the statewide average reached an all-time high of $4.22.
Of the cities it surveys, AAA Michigan says the cheapest price for self-serve unleaded fuel is in the Marquette area, where it's $4.07 a gallon. The highest average can be found in the Benton Harbor area at $4.20.
Dearborn-based AAA Michigan surveys 2,800 Michigan gas stations daily.
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Small Cars:
More Expensive,
Harder to find
It's basic economics: High gas prices + parts shortages out of earthquake-damaged Japan = car shortages and higher prices.
Dealers and experts say already-tight supplies of small cars will shrink even more in coming weeks, especially from Japanese
automakers, as the fallout from the March 11 earthquake and rising demand for more fuel-efficient cars continues depleting dealer stocks.
That means that while consumers might find the car they want, they might not find it in the exact color and with the exact options they desire, such as a sunroof or a
navigation system. They'll likely be paying more for it, too.
How bad is it?
To read more visit:
www.americanarab.com
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GM Sales up 29%
in Middle East
US car giant General Motors said on Monday that it sold a total of more than 12,200 vehicles in April, a 29 percent increase on the same month in 2010.
Sales of its Chevrolet brand rose 33 percent, while GMC sales increased by 26 percent and Cadillac posted 21 percent sales growth versus April a year ago.
Retail sales, those to individual customers, recorded a 76 percent growth versus last April with cars and SUVs up 158 percent and 58 percent respectively while April deliveries to commercial accounts dropped by 25 percent.
"Our April sales are indicative of our continuous effort to drive profitable sales growth," said John Stadwick, president and managing director of GM Middle East Operations in a statement.
"We will strive to sustain these retail sales levels, particularly as we have several new vehicle launches planned for the remainder of the year."
The Chevrolet, GMC and Cadillac brands saw total SUV sales rise by 41 percent, with the Chevrolet Tahoe posting its best month since launch with 1,537 sales.
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Saudi Keeps Oil Supply Steady
Saudi Arabia will keep crude oil supplies in June unchanged from May, trade sources said, amid volatile prices and ahead of an Opec meeting in June to review the producer group's supply policy.
The oil market often uses supply allocations of Saudi Arabia, the world's top oil exporter with significant spare capacity, to gauge a move by Opec when the producer group's meeting is imminent.
Saudi's crude oil production was 8.5 million barrels per day in April.
Early in May, an Opec delegate said the group might raise supply limit at the June meeting to convince the oil market it wants to bring crude prices down to reverse the impact of fuel inflation on economic growth.
The chief executive of state oil firm Saudi Aramco said late last month it was uneasy with high oil prices and was concerned about their impact on the global economy.
However, a sharp sell off in global commodities markets knocked off Brent crude futures prices by more than $16 per barrel last week.
Opec delegates said they welcomed the slide in prices because high prices may hurt the world economy and in the longer term accelerate the use of alternative fuels.
Opec, which produces about a third of global crude oil, has left its formal output target unchanged since the pledged ceiling effective January 2009.
Last week, Saudi Arabia raised the price for Arab Light crude for June to Asian customers more sharply than to European and US buyers. The Arab Light price, which is expressed in differential to the average of Oman and Dubai crude prices, has been set at the highest premium to be benchmark since 2007, not far from record levels. - Reuters
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Right Time to start job-hunt in UAE
For people who've been worried about the job market conditions, good news seems to be coming from leading HR experts in the UAE.
The wait may finally be over, according to experts, and now may be a good time to scout for a new job in the country.
According to Lama Ataya, Chief Marketing Officer at Bayt.com, candidates need not sit tight in their current positions. "We have definitely seen an uptick in hiring momentum in our key markets and this bodes well for professionals who may have been sitting tight and averse to taking any career risks in the relatively slower days. [They] may now find it is a good time to explore many new opportunities.
Konstantina Sakellariou, Partner, Marketing & Operations Director at Stanton Chase believes that a conservative approach may not hold.
"An executive will actively look for a new opportunity only if the current position does not fulfill his/her aspirations. However, as the global and regional markets are not expected to stabilise soon, I do not believe a very conservative approach will really support the professional advancement of the executives. It is normal for an executive to always have his/her eyes open for new opportunities - and actually this is irrespective of a crisis period or not. Even though the economies are still fragile, people may move around, looking for opportunities that match better their professional aspirations," she said.
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White House Welcomes Chamber Leaders, Arab American Business Group in DC
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Washington DC -- American Arab Chamber leaders tell the White House Office of Public Engagement Wednesday, May 4, that it is a critical time for the American Arab businesses to become proactive in assisting the communities that matter for the Arab world.
"The "Arab Spring" provides an opportunity for American Arab businesses to use the services provided by the American government to assist in creating wealth and new jobs, build stability and shrink poverty in the Arab world," said American Arab Chamber Chairman Ahmad Chebbani, who chaired the meeting in Washington D.C.
The White House invited about 40 American Arab business leaders from across the United States to discuss new opportunities in expanding economic ties and building new relations in the Middle East and North Africa (MENA).
American Arab Chamber Executive Director Fay Beydoun said it is essential to enhance greater trade and improve the long-term economic relationship America has with countries such as Tunisia and Egypt, including other MENA neighbors.
"With current political changes and uncertainty presented in the North Africa and parts of the Middle East, the need to ensure economic growth is critical in restoring stability in the region," Fay Beydoun said.
The hope is that American Arab businesses can continue to discuss and work with the White House to endorse specific commitments and projects to enhance the role of trade, economic security, employment generation and economic growth in the MENA region.
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Join Us to Celebrate the 2011 American-Arab Professionals of the Year
![presenter]()
Presenting Sponsor of the
6th Annual American Arab Professionals
Network "Celebrating Success" Banquet
The AAPN invites you to celebrate
the 2011 Arab Americans of the Year
At the 6th AAPN "Celebrating Success" Dinner
Wednesday, May 18, 2011
At Greenfield Manor at 6:00 PM
Keynote Speaker:
Sam F. Ammar
Lending Manager
Home Lending | Chase
![sam ammar]()
Awardees:
Arab American of the Year
in Education
![boulus]() | |
Dr. Michael Boulus
Executive Director
Presidents Council,
State Universities of Michigan
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_____________________
Arab American of the Year
in Entrepreneurship
![w.merhi]() | |
Wissam Merhi
Founder and CEO
Game Headz, Inc.
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___________________________
Arab American of the Year
in Finance
![siaje]() | |
Ed Siaje
Senior Vice President/
Consumer Market Executive
Bank of America
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____________________
Arab American of the Year
in Legal
![saleh]() | |
Noel J. Saleh
Attorney
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_________________________
Arab American of the Year
in Medicine
![rustem]() | |
Mohamad Rustom
Director, Clinical Language Services
Oakwood Healthcare System
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____________________
Arab American of the Year
in Technology
![Hamieh M]() | |
Mohamed S. Hamieh
Mechanical Engineer
Active Head Restraint System,
Ford Motor Company
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Join us on May 18th to celebrate
the success and contributions
these individuals have made.
For tickets and sponsor information,
please contact Hebah Alwerfalli at
Hebaha@americanarab.com
or call 313-945-1700.
Sponsorship Opportunities are still available.
For details visit
www.americanarab.com
![Hamadeh Logo]() ![CIA seal]() ![Oakwood Healthcare]()
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| "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." |
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