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Dubai, UAE Fact Sheet Vision Without Action Is Merely a Dream

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Dubai, UAE Fact Sheet Vision Without Action Is Merely a Dream Dubai, UAE Fact Sheet Vision without action is merely a dream. Action without vision just passes the time. Vision with action can change the world. – Joel Barker Did you know that…? ♦ Dubai is on target for 11% annual growth in 2007 ♦ Dubai is strategically placed between key financial hubs in Asia with Hong Kong to the East and Europe to the West ♦ Dubai is roughly the same size as Rhode Island ♦ Two UAE women executives feature in the top ten most powerful Arab businesswomen, according to a Forbes survey ♦ Emirates Airlines is Boeing’s biggest customer and will become the world’s largest long‐haul carrier by 2012 ♦ The UAE posts the lowest software piracy rate in the region for the past 10 years ♦ Emaar Properties is the largest real‐estate company in the world in terms of market capitalization ♦ Dubai contains an 80‐meter indoor ski slope in the middle of the desert ♦ Dubai opened the first gold exchange in the Middle East ♦ More than 40 television stations broadcast from UAE ♦ The UAE‐USA Defense Cooperation Agreement was enacted in 1994 ♦ UAE Ports host more US Navy Ships than any port outside the USA ♦ Emaar’s Burj Dubai will be the world’s tallest building at 2,300 ft. when completed ♦ The spacious luxury of Jumeirah’s Burj al‐Arab’s 27 double‐height stories make it the world’s tallest hotel and the world’s only “seven‐star” hotel ♦ UAE boasts the highest travel and tourism economic activity per capita in the world ♦ At 78 years, life expectancy has reached levels comparable to Europe and North America ♦ Dubai contains extravagant malls including the Mall of the Emirates, the Dubai Mall, and soon‐to‐be largest mall in the world, the Mall of Arabia ♦ Dubai Maritime City will be one of the world’s most comprehensive maritime complexes, serving as the hub for maritime businesses, research, education, ship design and construction ♦ UAE donated $100 million to Hurricane Katrina relief ♦ Record growth in Middle East capital markets; capitalization of $900B & daily trading of $5B (2005) ♦ Gulf consumers are eager early adopters for technological products Other Information ♦ Dubai has developed the concept of on‐shore special economic zones with the creation of Free Zones for financial services, media, technology and commodities, amongst others. These special zones provide industry‐specific world‐class infrastructure with 100% business ownership, no barrier on capital and profits repatriation, no foreign exchange control plus an extended tax holiday ♦ Located at the crossroads of the East and the West, Dubai is the gateway to a relatively untapped region of 1.8 billion people with an economy ‐ size of USD 1.5 trillion in terms of GDP for the Middle East Asia, Indian sub‐continent and Africa, with close proximity to the developed European markets, Dubai has become a regional base for most of the Fortune 500 companies (with all top 10 having a sizeable presence) ♦ Dubai has a pro‐business environment with an outstanding record of political stability, coupled with one of the fastest growing economies, investor incentives and protection make Dubai an extremely attractive proposition for global businesses and investors ♦ Already, more than three dozen U.S. and international financial firms have set up offices in the new financial district including Morgan Stanley, Merrill Lynch, Credit Suisse and Deutsche Bank ♦ Banks have flocked to Dubai because the energy‐rich Gulf is loaded with cash. Not only that, but the financial regulations are based on the familiar code of the U.S. Security and Exchange Commission. In addition, there are three stock markets including the dollar‐denominated Dubai International Financial Exchange. ♦ We encourage you to visit news sources such as the Financial Times, industry reports, local Arab news sources, BBC, the Economist and others for the latest on this dynamic subject. IgniteBiz Inc. www.ignitebiz.com © Copyright 2008 Dubai, United Arab Emirates References One's mind, once stretched by a new idea, never regains its original dimensions. — Oliver Wendell Holmes Articles and Books for Further Reading ♦ Abdullah, Abdul Khaleq. “East West Relations.” Gulf News, April 6, 2006. ♦ Abdullah, Abdul Khaleq. “Ports deal: A UAE Perspective.” Gulf News, March 17, 2006. ♦ “Building a Modern Economy: How the ‘Dubai CEO’s’ Big Bet Is Paying Off, for Now.” Knowledge@Wharton, March 21, 2007. ♦ Davis, Mike. “Dubai: Sinister Paradise.” Mother Jones, July 14, 2005. ♦ Gimbel, Barney. “The richest city in the world.” Fortune, March 12, 2007. ♦ Krane, Jim. “Big international banks flock to Dubai.” Associated Press Financial Wire, Aug. 3, 2006. ♦ Lagerquist, P., and Quilty, J. “Reel Cashbah.” Middle East Report Online, March, 2006. ♦ Molavi, Afshin. “Sudden City.” National Geographic, Jan. 2007. ♦ Reed, Stanley, Emily Thornton, and Eamon Javers. “A Queue in the Sand.” Business Week, Dec. 17, 2007: 24‐26. ♦ Sorkin, Andrew R. “The Mideast Money Flows.” The New York Times, Sept. 27, 2007. ♦ Summers, Graham. “Halliburton Isn't the Only One.” Stansberry & Associates Investment Research, June 6, 2007. ♦ Tosches, Nick. “Dubai’s the Limit.” Vanity Fair, June, 2006. ♦ Wilhelm, Steve. “Oil rise spurs Mideast demand for local luxury jets.” Puget Sound Business Journal, Nov. 19, 2007 ♦ Williams, Jeremy. “Don’t they know it’s Friday?” Motivate Publishing, March, 1999. Web Resources ♦ AME Info — www.ameinfo.com ♦ Department of Tourism and Commerce Marketing — www.dubaitourism.ae ♦ American Business Group of Abu Dhabi — www.abgabudhabi.org ♦ Arab Thought Foundation — www.arabthought.org/ATF/English ♦ Dow Jones Shariah Index — www.djindexes.com/mdsidx/index.cfm?event=showIslamicBenefit ♦ Gulf News — www.gulf‐news.com & Middle East Business Intelligence — www.meed.com/Insight/index.html ♦ Hotel & Tourism: www.hotel‐online.com/News/PR2007_2nd/May07_AbuDhabi.html ♦ Middle East Studies Internet Resources — www.columbia.edu/cu/lweb/indiv/mideast/cuvlm ♦ Queen Rania calls to bridge East‐West divide — www.menafn.com/qn_news_story_s.asp?StoryId=1093148001 ♦ Royalty in the Middle East — www.royalty.nu/MiddleEast ♦ Synovate Global Market Intelligence — www.synovate.com/knowledge/infact ♦ UAE Maps & on‐line tours — www.uaeinteract.com/nature/natu_ems ♦ Wasta & Connectors — news.bbc.co.uk/2/hi/middle_east/6183375.stm ♦ Political Risk Insurance Center — www.pri‐center.com & Foreign Direct Investment — www.fdi.net ♦ Arab World Competiveness Report — www.weforum.org/en/initiatives/gcp/Arab World Competitiveness Report IgniteBiz Inc. www.ignitebiz.com © Copyright 2008 .
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