17th Dubai World Cup - The Richest Horse Race in the World

On 31st March 2012, gates of Maydan Racecourse will be opened at 02:00 pm and registration will begin while first will start at 04:30 pm.

This year the Dubai World Cup will celebrate its 17th running and will offer the prizemoney of a world record $27.25 million whereas the programme has grown to include nine spectacular races.

Since the beginning of the Dubai World Cup in 1996, a distinguished group of businesses are supporting the event to bring the excitement and spectacle of this international event to the racing world.

Meydan Chairman of the Board and CEO Saeed Humaid Al Tayer said: “Each year we are honored to team with leading business partners to present an event that truly showcases the biggest and brightest stars of the racing world. This is truly an international test and Dubai serves as a crossroads in bringing these horses and their connections to test their greatness. This would not be possible without the dedication and vision of our partners. Their immense support allows us to bring the Dubai World Cup experience to tens of thousands of race fans at Meydan, and countless millions more around the globe that view the spectacle on television. Teamwork is vital for the success of this event and the dedicated team of partners we share will once again lend support to bring the greatness of the Dubai World Cup experience to the world."

There will be stern competition from horses representing Britain, France, Germany Ireland, Australia, New Zealand, Japan and South Africa as well as the five-pronged defence from horses trained in the United Arab Emirates.

Transcend finished runner-up to his Japanese compatriot, Victoire Pisa (winner of 2011 world Cup), in the Dubai World Cup 12 months ago.

Also in the line-up is Royal Delta, whose trainer Bill Mott, won the inaugural Dubai World Cup with Cigar in 1996.

Four of the five locally-trained runners represent Sheikh Mohammed's Godolphin stable. The sheikh's principal jockey, Frankie Dettori, has elected to ride Prince Bishop.

Silvestre De Sousa and Mickael Barzalona, both recently put on retainers by Godolphin, are aboard Mendip and Monterosso respectively. Monterosso finished third in the Dubai World Cup 12 months ago.

Betting is outlawed in Dubai.

You will find more detail at Dubai Racing Club website.

UAE's first domestic airline set to start

Eastern Express, a new domestic airline that promises daily flights between Abu Dhabi and Fujairah may not launch until midsummer. The country’s five existing main passenger airlines are Emirates, Etihad Airways, Air Arabia, flydubai and RAK Airways.

Eastern Express was expected to start flying in January, but was delayed by the General Civil Aviation Authority's (GCAA) rejection on some safety concerns.

Ismail Al Baloushi, the executive director of aviation safety at the GCAA, said the authority was concerned solely with safety. While GCAA had no problem with a company leasing its aircraft, the key question was how it would maintain safety standards.

Originally known as Al Hajjar Air, Eastern Express is a joint venture between Al Hajjar Air and Abu Al Houl, as well as other UAE-based investors. The company is looking to buy a 29-seater turboprop Jetstream 41, made by British Aerospace.

  

Keeping in mind the small population of the emirate and the three-hour driving time between Fujairah and Abu Dhabi, it would be big challenge for the airline to run in profit.

Initially, Eastern Express revealed that the 200 kilometer one-way trip from Abu Dhabi to Fujairah would cost Dh645 plus taxes but it's still not finalized. It will operate twice daily service, with business friendly morning and evening flight times and will provide full-in-flight services.

Eastern Express plans to partner with an existing airline in the GCC – so far unnamed – that will provide regional feeder traffic from the UAE east coast for international airlines operating at Abu Dhabi.

The airline plans to operate across both the UAE and to various other destinations in the Gulf Cooperation Council, like Manama and Doha.

Its route will be the short 30-minute hop between Fujairah and Abu Dhabi. The carrier will focus on corporate customers and tourism traffic to the underserved Fujairah International Airport.

The Fujairah airport authority is eager to increase its passenger traffic. Work is underway to develop a second terminal, a new taxiway and more cargo facilities which will be completed in 2025. The airport already boasts a 3750 m runway with independent ATC and radar services and landing aids, allowing for 24-hour operations.

National Railway system will connect the entire Emirates

At present, the transportation costs in the region are among the highest in the world. National railway network would improve road safety and alleviate traffic congestion in the region.

National railway system, that will span the seven emirates, will also connect the western region, Al Gharbia, and transform Al Gharbia's "natural, social and economic environments", according to the network's developer.

To boost the local economy, it is decided to built the factory in the western region that would manufacture the 600,000 sleepers for the tracks.

After completion, the railway will serve the whole country via a 1200km safe and cost-efficient rail network.

Initially, The project is divided into three phases.

Phase 1: The first phase of the project, which is scheduled to complete in 2013, will connect the western cities of Habshan and Ruwais, cover 266 kilometers, according to the network operator Etihad Rail.  While in 2014, link from Habshan to Shah will be ready. This network will initially be used for freight purposes, but may later start passenger services.

Walls would be built to protect the trains and the wildlife along the track while "a fully loaded train can replace 300 lorries from the road and produce up to 80 per cent less carbon dioxide emissions than trucks carrying the same tonnage." according to the network's developer.

According to developer, the presence of rivers and wildlife was taken into account, allowing passages underneath the rail every six kilometers of the track,".

In Stage 2, of the project, to be completed in 2015-16, the railway will be extended to Mussaffah in Abu Dhabi, Al Ain and Dubai and to Ghweifat in the country's western region, which is formally known as Al Gharbia.

Stage 3, which is to be completed in 2016-18, will extend the project to Sharjah, Ras Al Khaimah and Fujairah.

After completion, the railway network will be linked to railways in the rest of the GCC. This will connect the UAE to Saudi Arabia via Ghweifat in the west and Oman via Al Ain in the east.

Welcome to London Olympics 2012, UAE soccer team dream come true

 
The UAE Olympic Football Team qualified for London Olympics 2012 after beating the Uzbek host in Tashkent by 3/2 on Wednesday in the final six round of the second Asian group.

After lone qualification for the World Cup 1990, this is second time, UAE team qualified for any major soccer event. Although, UAE won the Gulf Cup in 2007.

 

The President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has greeted the UAE Olympic Football Team, the coach and technical staff for qualification of the team for qualifying for the London Olympic Games 2012.

Besides UAE, Japan and South Korea got the birthe for London Olympics 2012 from Asia. Oman, Syria and Uzbekistan will contest a round-robin tournament in Vietnam between 25-29 March. The winner of this event will contest a one-off play-off match with Senegal at the City of Coventry Stadium on Monday 23 April 2012 to qualify for Olympics 2012.

Team qualified for Olympics 2012 are host GBR, Brazil (BRA), Uruguay (URU), Belarus (BLR), Spain (ESP), Switzerland (SUI), Egypt (EGY), Gabon (GAB), Morocco (MAR). While two successful teams from CONCACAF (Confederation of North, Central American and Caribbean Association Football) and one team from OFC (Oceania Football Confederation) will participate in Olympics 2012.

National Bonds (NBC) announced profit for the year 2011

National Bonds Corporation (NBC) PJSC, an investment company behind the leading Sharia'a compliant saving scheme, with its bond sales hitting the AED 2.39 Billion mark in 2011, and a 23% growth in its Mudaraba Fund. With these achievements, NBC has announced today that an annual profit rate of up to 2% on the Mudaraba pool will be distributed to its bondholders, the lowest since its inception in 2006.

The company gave the profit with the rate of 3.78 per cent for 2010 and 3.54 per cent for 2009.

Despite poor market conditions due to present economic downturn, NBC performed well in 2011, bringing up its Mudaraba portfolio to AED 4.6 Billion at the end of 2011 while increasing its customer base by 7.3% to 655,000 bondholders.

Under the new NBC saving tier system, a person with holding bonds for less than three months will get only 0.8 per cent as profit rate for 2011; three months and less than six months will get 1.2 per cent; six months and less than one year will be entitled for 1.6 per cent rate, while those holding for the full year will get 2 per cent.

“What we offer is currently unrivalled and unmatched as a savings experience preposition.” Mohammed Qasim Al Ali, CEO, NBC, said in a statement.

Ali said: “The prospects for National Bonds remain strong. The scheme is well positioned across a diversified range of asset classes whilst it provides the bondholders with the liquidity feature necessary to meet any of their emergencies requirements."

Sales crossed the Dh2.39-billion mark, registering a 23 per cent growth while repeat purchases rose to 79 per cent in 2011.

Cumulative return offered since inception of the scheme reached 30.68 per cent.

The annual profit rate, which covers the period from January 1st 2011 to December 31st 2011, gives NBC a cumulative profit rate of 30.68% on the Mudaraba pool since its inception in March 2006, the highest average annual profit rate for saving schemes in the region.

Moreover, 15 new institutions joined the employee saving scheme, which allows their employees the chance to automatically save a portion of their monthly salary in the form of bonds.