Dubai Update

Prepared and circulated by the Dubai Commerce and Tourism Promotion Board

JULY/AUGUST 1996

Dubai's non-oil trade increased by 23% to Dh20.75 billion during the first quarter of 1996. Imports increased by 21% to Dh15.53 billion and re-exports by 43% to Dh4.20 billion, while domestic exports slipped by 6.5% to 1.02 billion for the period.	The number of hotel guests in Dubai increased by 29% to 1,600,847 in 1995. The overall occupancy rate at the 223 hotels stood at 63.1%. Average length of stay was 2.48 days and total guestnights numbered 3,968,207.
The Emirates Group has posted profits of $39 million (Emirates $22 million and DNATA $17 million) from revenues of $832.8 million in the financial year 1995/6. Passengers carried increased by 13.8% to 2.56 million, while freight volume soared by 20.1% to 129,560 tonnes.	Boeing has announced plans to locate a regional spare parts distribution centre in the new Dubai Airport Free Zone. Scheduled to begin operations in late 1998, the centre will serve customers in the Middle East, Africa, Asian subcontinent and southern parts of the CIS.
India's Southern Petrochemicals Industries Corporation (SPIC) is to build a $165 million fertiliser plant in the Jebel Ali Free Zone. To be commissioned in 26 months time, the plant will have a daily output of 1,200 tonnes of urea and ammonia.	Imation Corporation, created from the spin-off of 3M's data and imaging businesses, has opened its regional headquarters in the Jebel Ali Free Zone. It will cover a total of 17 countries.
Shell Markets Middle East is extending the role of its Dubai office to cover the Eastern Mediterranean, Central Asian Republics and other parts of the Arabian peninsula.	Associated Press (AP) has relocated its Middle East regional office from Bahrain to Dubai.
The Jebel Ali Free Zone plant of Cimac Automaton has won the contract to supply automation and control systems for Jaguar Car's new high tech paint facility in the UK. The deal is significant as a reversal of traditional technology transfer flows.	Nissan Middle East FZE is to double the size of its Jebel Ali Free Zone warehouse. The Dh2.5 million expansion will allow the company to store 2,000 vehicles at a time.
Midas-Kapiti International, the banking and trading systems software group, has consolidated its regional offices in Dubai and Bahrain into a single Middle East operations base in Dubai.	Emirates National Oil Company (Enoc) and Caltex have formed a new joint venture, Eppco Projects, aimed at developing new business and investment opportunities.
Dubai Cable Company (Ducab) has reported a 35% increase in sales in the first half of 1996.	CoreStates Bank of the USA has opened a representative office in Dubai.
Doka, the German supplier of formwork and scaffolding systems, is to set up a Dh1.5 million office and warehouse facility in the Jebel Ali Free Zone to serve the Middle East and South East Asian markets.	P & O Containers has opened a new Gulf regional office in Dubai. Its responsibilities will be extended later this year to cover the Red Sea and Pakistan.
Dubai's gold imports in the first half of 1996 reached a record 169.3 tonnes. This compared with the previous all-time high of 163.4 tonnes in the first six months of 1995.	Dubai-based Mubarak Shipping has won a tender from the Iraqi authorities to clear Umm Qasr port of sunken vessels and equipment. The company is also bidding for salvage contracts at Khor Zubair and Basra port.
Pakistani-owned Daikool Industries is to start production of air conditioners in the Jebel Ali Free Zone shortly. In addition to supplying the local market, it will also export to Iran and Africa.	The Dh100 million Wonderland family fun park is set to open in Dubai in October. The facility, which features a wide range of water attractions, extends over 18 hectares and will accommodate up to 8,000 visitors at a time.
The Forte Grand Dubai has been voted Best Airport Hotel Worldwide for the second year running in the Executive Travel Awards in London. The Dubai Inter-Continental was runner-up in three categories, Best Staff Worldwide, Best Food & Beverage Worldwide and Best Hotel in the Middle East.	The volume of airfreight handled by Dubai Cargo Village in the first seven months of this year amounted to 208,520.21 tonnes, an increase of 15.22% over the corresponding period of 1995.
The Spices Board of India is to open its Middle East trade promotion office in Dubai before the year-end.	A study by the Dubai Chamber of Commerce & Industry ranks Dubai as one of the world's top three gold trading centres along with Zurich and London.
Emirates and Abela & Company will open a new 150-room hotel for the exclusive use of the airline's economy class transit passengers in September. The new four-storey property is part of the existing Airport Hotel.	London-based solicitors, Hill Taylor Dickinson, have opened an office in Dubai. The firm specialises in shipping and maritime law.
The Mediterranean Shipping Company (MSC) has announced a new direct service between Dubai and East and South Africa.	Moda, an Italian fashion company specialising in scarves, neckties and accessories, plans to open a regional office in Dubai in October.
UK-owned CMP Products, a manufacturer of cable glands, cleats and accessories for industrial and flameproof applications, has opened a regional office in the Jebel Ali Free Zone.	Dubai-based Mashreq Bank is to open its first overseas branch since 1989 in New Delhi before the end of the year.
Elfina, a subsidiary of India's Lloyds Finance, has received Central Bank permission to start investment banking advisory operations in Dubai.	Nicholson International, the UK-based executive search and HR consultancy, has set up its Middle East headquarters in Dubai. The new office serves the Gulf, Levant and North Africa, as well as India via the company's Delhi office.
Don Airlines of Russia has started scheduled flights between Rostov and Dubai. The weekly schedule comprises nine cargo and two passenger services.	Turkmenistan Airlines has announced plans to open an office in Dubai.
The Production Village, a 43,000 square foot film and TV studio, has opened in Dubai. The Dh3.5 million venture, backed by a three local companies, DLC, Waves and AEther, will specialise in the production of Arabic TV shows and commercials.	Dubai is to become the site of the first Hard Rock Cafe in the Gulf. The franchised outlet will open in April 1997.
Slovak Aviation has received approval to start flights between Bratislava and Dubai with effect from October.	The Al Warba Centre, a new office, shopping and residential complex has opened in Dubai. The development features 80,000 square feet of retail space.
India's largest trading company, MMTC Ltd, has announced plans to set up an upmarket showroom in Dubai next year.	Roopam and Roopmilan, India's largest garment chain, has opened its first outlet in Dubai.
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