Man jailed over attempted robbery
Ras Al Khaimah: The Misdemeanour Court on Wednesday sentenced a man to two years imprisonment for attempting to steal gold worth Dh2 million and impersonating a police officer.
Y.K., an Indian, is to be deported after serving his term. The court did not pass a verdict for the second suspect, J.Z., who fled the scene. It has asked the Public Prosecution to arrest him.
Gulf News reported the incident in September when police foiled an operation planned by the two Indians to steal the gold from a vehicle transporting it from a shop in Dubai to its branch in Ras Al Khaimah.
A court official said Ras Al Khaimah police received a tip-off that the suspects would lay in wait for the vehicle once it entered the emirate.
The official said the plan, as revealed by the detained suspect, was to strike when the vehicle entered Ras Al Khaimah via the Emirates Road.
Police set up a team of officers to arrest the suspects. Investigators spotted the suspect's Dubai registered car on the Emirates Road heading to Ras Al Khaimah.
The suspect's plan was to chase the van and his accomplice, Y.K. who was in another car, would swerve in front of it and stop it. Everything went to plan and the two ordered the van's guard to step down saying they were police officers.
As the suspects were about to steal the gold, police surrounded them. J.Z. fled the scene after he managed to get to his car.
The police tried to follow him but abandoned the chase because it would have endangered other motorists. The court official said the second suspect would be arrested soon.
Wednesday, November 22, 2006
Bahrain denies talks with Israeli investors
Manama: Bahrain has denied the presence of Israeli investors in Manama as a prelude to business deals and a diplomatic agreement between the two countries.
"I can assure you that there are currently no business deals between Bahrain and Israel and that there is no Israeli business delegation in Manama," Commerce Ministry undersecretary Abdullah Mansoor said in a press statement.
The official was commenting on a report published by the Palestinian weekly Al Manar, which claimed that senior Israeli investors were in Manama to discuss "large investment projects".
The report, in this week's edition of the Jerusalem-based newspaper, added that one Israeli investor said during a meeting with Bahraini officials and businessmen that he was pleasantly surprised by Bahrain's investment predisposition and that Israel would set up facilities to attract Gulf nationals.
Al Manar also stated that "three Bahraini officials with close links with Gulf investors will be visiting Israel to ink business deals".
Manama: Bahrain has denied the presence of Israeli investors in Manama as a prelude to business deals and a diplomatic agreement between the two countries.
"I can assure you that there are currently no business deals between Bahrain and Israel and that there is no Israeli business delegation in Manama," Commerce Ministry undersecretary Abdullah Mansoor said in a press statement.
The official was commenting on a report published by the Palestinian weekly Al Manar, which claimed that senior Israeli investors were in Manama to discuss "large investment projects".
The report, in this week's edition of the Jerusalem-based newspaper, added that one Israeli investor said during a meeting with Bahraini officials and businessmen that he was pleasantly surprised by Bahrain's investment predisposition and that Israel would set up facilities to attract Gulf nationals.
Al Manar also stated that "three Bahraini officials with close links with Gulf investors will be visiting Israel to ink business deals".
Bigger and better than last year
Dubai: The 26th annual Gulf Information Technology Exhibition (Gitex) exhibition attracted more than 130,00 visitors, smashing last year's figures, according to event organisers.
Visitors flocked to the IT extravaganza to view the latest products from more than 1,200 exhibitors representing 2,274 companies from 61 countries.
This year, a wellspring of new offerings in the telecommunications field was on display at Gulfcomms 2006, the first ever telecom expo held simultaneously next to Gitex.As in years past, Gitex 2006 will be remembered for its pomp and pageantry, with elaborate two-storey booths and showy displays of new products, while DJs and announcers held court over audiences with games and prize giveaways in addition to live dance and music performances.
However, for both visitor and exhibitor, as always it's all about the products, and this year saw ever more on offer: MP3 players and mobile phones for children and students, computer peripherals for IT managers and the technically inclined, and a broad range of cameras, printers, and other consumer electronics for the general public.
Nokia's participation exceeded expectations according to Joe Devassy, enterprise sales manager for Nokia Middle East and Africa.
"It was good overall, as this was the first time we had a booth at Gitex. From an awareness perspective, it was very good, and the feedback was very positive."
At events like this location can be essential. Devassy said he wasn't sure the Gulfcomms section where Nokia had its booth received as much foot traffic as other halls closer to the entrance.
Traffic of another kind was also a prime concern for Elvie Wong from Jiade, an electronics firm based in Shenzen, China.
"The foot traffic was great, we had a nice location next to a busy corridor," she said. But Wong wasn't so fond of the traffic she dealt with coming to the event. "I hope next year," she said with a laugh, "they improve the traffic out there."
Coming to Gitex for the first time was Sahel Fawel, who runs a photocopy business in Yemen. "I think Gitex is good," he said. "Everything I want, I see here, and this helped me make some difficult purchasing decisions."
Also enjoying the event was Samson Gaulinde of Namibia, in Dubai to attend a conference later in the week. He said his favourite booth was Panasonic's - "The size of the booth, the breadth of products on offer, the shows going on, it was all wonderful," he said.
While the once-busy halls have fallen silent for the main Gitex event at Dubai International Convention and Exhibition Centre, there are two days left at the Shopper segment of the Gitex event held at the Airport Expo.
Dubai: The 26th annual Gulf Information Technology Exhibition (Gitex) exhibition attracted more than 130,00 visitors, smashing last year's figures, according to event organisers.
Visitors flocked to the IT extravaganza to view the latest products from more than 1,200 exhibitors representing 2,274 companies from 61 countries.
This year, a wellspring of new offerings in the telecommunications field was on display at Gulfcomms 2006, the first ever telecom expo held simultaneously next to Gitex.As in years past, Gitex 2006 will be remembered for its pomp and pageantry, with elaborate two-storey booths and showy displays of new products, while DJs and announcers held court over audiences with games and prize giveaways in addition to live dance and music performances.
However, for both visitor and exhibitor, as always it's all about the products, and this year saw ever more on offer: MP3 players and mobile phones for children and students, computer peripherals for IT managers and the technically inclined, and a broad range of cameras, printers, and other consumer electronics for the general public.
Nokia's participation exceeded expectations according to Joe Devassy, enterprise sales manager for Nokia Middle East and Africa.
"It was good overall, as this was the first time we had a booth at Gitex. From an awareness perspective, it was very good, and the feedback was very positive."
At events like this location can be essential. Devassy said he wasn't sure the Gulfcomms section where Nokia had its booth received as much foot traffic as other halls closer to the entrance.
Traffic of another kind was also a prime concern for Elvie Wong from Jiade, an electronics firm based in Shenzen, China.
"The foot traffic was great, we had a nice location next to a busy corridor," she said. But Wong wasn't so fond of the traffic she dealt with coming to the event. "I hope next year," she said with a laugh, "they improve the traffic out there."
Coming to Gitex for the first time was Sahel Fawel, who runs a photocopy business in Yemen. "I think Gitex is good," he said. "Everything I want, I see here, and this helped me make some difficult purchasing decisions."
Also enjoying the event was Samson Gaulinde of Namibia, in Dubai to attend a conference later in the week. He said his favourite booth was Panasonic's - "The size of the booth, the breadth of products on offer, the shows going on, it was all wonderful," he said.
While the once-busy halls have fallen silent for the main Gitex event at Dubai International Convention and Exhibition Centre, there are two days left at the Shopper segment of the Gitex event held at the Airport Expo.
Lubna sees non-oil sector gaining export share
Dubai: UAE's exports are expected to rise 21 per cent in 2006 to Dh514 billion ($140 billion) and imports by three per cent to Dh306 billion, the Minister of Economy said on Wednesday.
"Oil and petroleum products made up 40 per cent of exports," Shaikha Lubna Al Qasimi told a GCC-Japan Business Partnership seminar.
"This percentage is expected to continue to reduce each year as investment in industry and sectors other than oil and gas continues to boost GDP and manufactured products find markets overseas."
The UAE's trade with Japan reflects the rapid growth of the non-oil segment.
In 2005, non-oil trade between Japan and UAE was estimated at Dh16.44 billion, having risen more than a 101 per cent from the Dh8.16 billion recorded in 2001.
The increase in oil prices since 2004 has increased disposable incomes in the UAE, which in turn is boosting trade, the minister said.
Shaikha Lubna also expects the UAE's GDP at current prices to rise 23 per cent in 2006 to Dh597 billion ($162.6 billion) but said the IMF had estimated it will rise 36 per cent. That made the UAE the world's 36th largest economy, she added.
The UAE is currently negotiating a free trade agreement with Japan within the GCC framework but this is a complex process since the UAE has a federal structure with some emirates enjoying considerable autonomy.
"FTAs are difficult but they are still based on the premise that markets open on both sides," Shaikha Lubna said.
"We often find that whilst our market is opened for our FTA partners and impediments to business are removed or eased, the same is not always the case on the part of our often more developed partner."
Dubai: UAE's exports are expected to rise 21 per cent in 2006 to Dh514 billion ($140 billion) and imports by three per cent to Dh306 billion, the Minister of Economy said on Wednesday.
"Oil and petroleum products made up 40 per cent of exports," Shaikha Lubna Al Qasimi told a GCC-Japan Business Partnership seminar.
"This percentage is expected to continue to reduce each year as investment in industry and sectors other than oil and gas continues to boost GDP and manufactured products find markets overseas."
The UAE's trade with Japan reflects the rapid growth of the non-oil segment.
In 2005, non-oil trade between Japan and UAE was estimated at Dh16.44 billion, having risen more than a 101 per cent from the Dh8.16 billion recorded in 2001.
The increase in oil prices since 2004 has increased disposable incomes in the UAE, which in turn is boosting trade, the minister said.
Shaikha Lubna also expects the UAE's GDP at current prices to rise 23 per cent in 2006 to Dh597 billion ($162.6 billion) but said the IMF had estimated it will rise 36 per cent. That made the UAE the world's 36th largest economy, she added.
The UAE is currently negotiating a free trade agreement with Japan within the GCC framework but this is a complex process since the UAE has a federal structure with some emirates enjoying considerable autonomy.
"FTAs are difficult but they are still based on the premise that markets open on both sides," Shaikha Lubna said.
"We often find that whilst our market is opened for our FTA partners and impediments to business are removed or eased, the same is not always the case on the part of our often more developed partner."
Monday, November 20, 2006
Get Life Insurance if Others Depend on Your Income
The Houston Chronicle financial writer talks about who should buy life insurance. It comes down to what we've said for some time: "If someone depends on you financially and would be financially hurt if you died, you should have life insurance."
Here's what the article says in part:
"A person should buy life insurance when others are dependent upon their earning income. A classic situation would be when a couple starts a family and has a child. You might also get some life insurance for a stay-at-home parent, because if he or she were to pass away, the surviving spouse would likely face higher household expenses — to buy services that his or her spouse had been providing — and possibly reduced income if the person couldn't work as much as he or she had in the past."
"In the case of a two-income couple, I would recommend life insurance if they are dependent upon and relying upon each other's income."
Here's what the article says in part:
"A person should buy life insurance when others are dependent upon their earning income. A classic situation would be when a couple starts a family and has a child. You might also get some life insurance for a stay-at-home parent, because if he or she were to pass away, the surviving spouse would likely face higher household expenses — to buy services that his or her spouse had been providing — and possibly reduced income if the person couldn't work as much as he or she had in the past."
"In the case of a two-income couple, I would recommend life insurance if they are dependent upon and relying upon each other's income."
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