Dr. Sulaiman Al Habib Medical Center

Over SR2 billion is going to be invested in the creation of two private medical cities by the Doctor Sulaiman Al-Habib Medical Group.

The first city will be situated in north Riyadh and will have 500 beds and will cost SR1.5 billion. The second medical city will cost SR 800 million and will be equipped with 410 beds in Alkhobar in the Eastern Province.

Next month will see the opening of outpatient clinics of King Abdullah Medical City in Bahrain. The Group is scheduled to inaugurate a new 255-bed hospital. The group is able to provide many varied services for their investors, including planning, designing, supervising and managing hospital projects. The Group is on of the largest engineering offices which work on medical projects, including supervising and managing them, in the region.

The chairman of the Al-Habib Medical Group, Naser bin Mohammad Al-Haqbani that over the past four years the group has developed over 1 million square meters of office space in Saudi Arabia and the Gulf. They are running 11 of the 14 enterprises which they designed and developed.

Al-Haqbani said: "The Dr. Sulaiman Al-Habib Group seeks to make its mark in the health care sector according to the standards set by international health organizations and authorities such as the JCI and the American Institute of Architects."
 

London's Dynamic Tower

Officials in Dubai are disappointed that their city will not be the home to the first ‘rotating tower’ to be constructed in the world. Instead, the first “Dyanamic Tower” will be constructed in London, beginning soon.

“We will announce the start of the construction in London in due time. Most probably within the year,” said the London-based Dynamic Group, which is the developer of the project.

“We are now close to starting construction on the first building in motion in London, which will become a world landmark. This building will be a ‘Centre of Excellence’ and an icon of future lifestyles and sustainability,” the developer said in an e-mail to its worldwide investor base.

The development company lists the London Dynamic Project as a major part of London’s move to reclaim its historic role as a city which is at the “Center of the World.”

“As the city prepares to host for the third time the Summer Olympics in 2012, it wishes to bring this icon of future life to London, receiving its own rotating tower to serve as the landmark for the event, and an inspiration for generations to come,” continued the message.

When asked about the company’s plans for the development of a similar tower in Dubai they said, “As far as Dubai – we will love to know… and we hope as soon as the conditions will allow it.”

In March, 2011 it was reported that the developers of Dubai’s Dynamic Tower are anxious to put that city’s project back on schedule. Dubai’s Dynamic Tower will consist of 80 floors, each one with the ability to rotate independently.

“The Dynamic Tower in Dubai is on hold due to the current situation. Of course, Dr. David Fisher and our team would be delighted to have the tower in Dubai on track,”

said Simona Casati, the Press Office & Communication Manager, for the Dynamic Architecture Group, back in March.

Geoff Mee of Qatar Railways Co

In order to have a chance at winning their bid to host the 2020 Olympics, Qatar is speeding up work on several infrastructure projects, including the Doha Metro project.

Qatar Railways’ Deputy Chief Executive Geoff Mee, said that phase 1A of the Gulf state’s $40 billion rail network will be finished by 2019, right in time to host the 2020 Olympics if Qatar wins the bid for the right to host the world’s most watched sporting event.

The next phase, 1B, will be completed before the 2022 soccer World Cup, which Qatar is hosting, according to Mee.

"We're having to push this ahead very, very quickly," Mee said.

Late last year a different senior executive at Qatar Railways Company (QRail), the operator of the planned rail network for Qatar, said that the company will tender the first contracts for the Doha Metro at the beginning of 2012.

Tens of billions of dollars are going into Qatar’s infrastructure with a variety of projects including the $40 billion integrated, nationwide rail project; an $11 billion new airport and a deep water seaport which will cost $5.5 billion to construct.

Contracts known as RFPs, request for proposals which will enable work to begin were issued on Monday, said Mee. He added that four tunneling RFP contracts worth $2-3 billion each will be launched this coming April, and will be awarded by October.

"The starting gun has gone and you're going to be very busy getting these bids ready to go," Mee said.

Yousef Al Shalash signing agreement

An agreement was signed last week between the real estate development company Dar Al Arkan and the investment and real estate development company Al Othaim. The agreement is a 15 year lease for a 10,963 square meter space in the Alqasr Mall which was developed by Dar Al Arkan in Riyadh City, Saudi Arabia. Al Othaim is planning to create an amusement park in the space called Safari Land.

Representing Dar Al Arkan was Chairman Yousef Al-Shalash; and CEO Mr. Fahad Abdullah Alothaim of Al Othaim signed the agreement.

World Class Amusement on the Way

Mr. Al-Shalash was happy with the agreement, expressing his appreciation of the expertise in amusement park development that Al Othaim is known for. He expressed his confidence that Al Othaim will create the most modern and innovative games in the leased space, providing world class amusement for visitors.

"Signing this agreement with Al Othaim company, which stands as a major amusement provider, underlies Dar Al Arkan efforts to attract large companies to invest in Alqasr Mall, serve the inhabitants of Alqasr project and adjacent districts, and boost the ambitions of shoppers and visitors," said Al-Shalash.

"Thanks to Allah, we have accomplished the lease of more than 75% of the Mall leasable area in the shortest period of time. We have appealed to big commercial names in different businesses and signed a series of quality value-added agreements with major companies and world brand agents. This reflects Alqasr Mall features of attraction which constitute of success incentives for value-added investment perceived by our partner lessees," he added.

Snow Village Theme Park

Included in the development plans, explained Mr. Al-Shalash is the creation of the first indoor snow village of its kind in Riyadh City. The hope is that such a unique attraction will bring people to visit the mall. Also planned is a first-of-its-kind theme park which visitors will find entertaining and fun, according to Al-Shalash.

Great Shopping, Too

Shopping at the mall is also being planned as a great pastime as Mr. Al-Shalash further explained: "Alqasr Mall embracement of major companies and renowned world and local brands makes it a desirable place for shoppers."

Dar Al Arkan is the largest developer of real estate in Saudi Arabia. There are now a series of major projects under development in the Kingdom, including AlTilal in Medina, Shams Alriyadh and the Alqasr Mall in Riyadh, and Qasr Khozam and Shams Alarous in Jeddah.

iPhone 4S

With the expectation that a newer model of the iPhone 4S is about to come to market, the price of the 16GB top-of-the-line smartphone has been steadily declining.

Price Going Down

The Apple iPhone has experienced a 20 percent price drop just in the last week or so. The latest reduction was offered as a deal on a group buying web site in which the phone could be acquired for Dh 2629 ($715), 20 percent less than in many electronic stores throughout the UAE. There are even classified ads offering the iPhone for only Dh2000 as a special deal.

Apple chose to launch the iPhone 4S last October, despite the fact that the much more sophisticated iPhone 5, with the famous Siri voice recognition software, was already available elsewhere.

Great Price Already

The original price of the 16GB iPhone 4S in the UAE was Dh5200 on the grey market. After a month the phone was already priced at Dh4250. By December the price further plunged; Etisalat and du launched the 4S in the UAE for only Dh2749. These prices represent a serious discount on what the iPhone 4S costs in the rest of the world outside of Europe and the US.

In India the 16GB iPhone goes for Rs 44.500 (Dh3325) and in Indonesia, a country which only began selling the iPhone as of last Friday, the price is $850 (Dh3121.)

Waiting and Anticipating

One of the main reasons the price of the iPhone in the UAE has been plummeting is because there is anxious anticipation of the release of Apple’s latest iPhone model, the iPhone 5.

"Apple fans now want to look forward to the new model. Yes, Siri has been amazing, but I am eagerly awaiting to find out what is new in the iPhone 5," said one analyst of the situation.

One dealer in the UAE of iPhones commented that the price of the iPhone 4S will probably not drop any further.

"Initially the cost was artificially high because of the non-availability. Today the situation has changed and the price has evened out. We may not see a further drop from here on," he said.

The latest data of iPhone sales shows that the 4S has been a major presence in the US market beginning in October 2011. In a recently conducted survey by Consumer Intelligence Research Partners it was shown that iPhone sales make up about 89 percent of all US smartphone sales.
 

Dr. Mohammed Bin Hamad Al-Rumhy

Talks were held to discuss the possibility of the Sultanate of Oman supplying oil to Sri Lanka in case their oil flow is disrupted due to sanctions by the United States against Iran.

The Ambassador of Sri Lanka to Oman, Asoaka Girihagama announced that discussions had been held between the Omani Minister of Oil and Gas, Dr. Mohammed bin Hamad al Rumhy, with the Sri Lankan Minister of Oil and Gas Susil Premajayantha. Mr. Premahjayantha said that unfortunately his country did not have many options for a new source of oil for his country.

“We had two Gulf countries on our cards to seek for oil supply in case the US sanctions on Iran hit our oil inflow, which are Oman and another country in the region. Finally, we decided to approach the Sultanate and we are happy about it,” he said.

“The two ministers had discussed in detail how Oman could assist Sri Lanka in the event of a crisis, which is, if Sri Lanka is unable to import crude oil from Iran,” due to sanctions by the United States, according to another source.

The Sri Lankan ambassador said that in exchange for the deal there would be held an exclusive Sri Lankan trade fair showing off the best of Oman, including attractions and traditional merchandise.

“We will hold an exclusive Sri Lankan trade fair in the Sultanate by May or June 2012. We are currently in talks with various companies and almost 50 companies will be participating in this event.”

The Amman offices of the World Health Organization of the United Nations, a four story office building known as the WHO building, is the first building in Jordan, as well as the region, to receive the coveted Gold Leadership in Energy and Environmental Design Certification V2.2.

The building is situated in the business district of Amman along a major thoroughfare. The building encompasses about 4,000 square meters and has excellent access to private and public transportation.

The building received its final review from the United States Green Building Council (USGBC) and earned 42 points, enough for it to qualify as a Gold Certificate building from LEED.

Buildings are among the heaviest users of natural resources, accounting for a huge proportion of greenhouse gas emissions which are said to have a detrimental effect on the global climate. In the United States it is estimated that buildings are responsible for as much as 38% of all carbon dioxide emissions into the atmosphere.

It makes logical sense to attack the problem of global warming at the level of buildings, where much can be done to reduce their carbon footprint.

LEED is a building certification system recognized internationally. It provides third-party assurance that a build is designed and used with strategies to increase energy use efficiency, decrease water usage, reduce carbon dioxide emissions and lower maintenance costs overall. LEED also encourages the construction of buildings which increase the indoor environmental quality, conserve resources and are concerned with and sensitive to the impact the building has on people’s overall health and the greater environment.

Fayza Aboul Naga

Backtracking on their previous refusal of aid from the International Monetary Fund and the World Bank, Egypt requested $3.2 billion in loan money from the IMF on Monday.

Egyptian officials decided that the money was essential to repair the Egyptian economy after a full year of political unrest which repelled tourists and investors alike.

A mission from the IMF arrived in Cairo on Monday when they began deliberations. Fayza Aboul Naga, Egypt’s minister for international cooperation said that there should be an agreement worked out within weeks. “We have asked the IMF for $3.2bn in support,” she said on Monday.

Last June Egypt refused $3 billion in aid from the IMF soon after coming to an agreement with them. The military council which was in power at the time as an interim step until an elected body could be assembled decided that they did not want to encumber the nation with a heavy burden of debt. The military council also said no to $2.2 billion worth of loans from the World Bank.

In recent days, however, Egyptian officials have expressed interest in reconsidering borrowing money from the fund. The weak recovery of the Egyptian economy, a giant deficit and the exhaustion of half of their foreign currency reserves persuaded the officials to go back to the IMF for aid.

“The authorities are still updating their economic program and the visit will allow the fund to update our assessment and then we’ll be working together to take it from there,”

said Gerry Rice, the fund’s director of external relations, speaking ahead of the arrival of the team.

Arab National Bank

The Arab National Bank of Saudi Arabia announced net profits for the fourth quarter of 2011 and the entire year, posting overall growth of 22 percent and 13.6 percent, respectively.

The net profits for the fourth quarter of 2011 were SR 368 million. In 2010 profits totaled SR 301, which represents an increase of 22 percent. Total net profits for 2011 were posted as SR 2,171 million. Compared to SR 1,911 million of 2010, the increase in profits comes to a rise of 13.6 percent.

Robert Eid, the managing director and chief executive officer of the Arab National Bank, which is headquartered in Riyadh, Saudi Arabia, had this to say about the bank’s performance of 2011:

“The increase in the bank’s profits resulted principally from balanced growth in various business lines, and its conservative risk management culture.”

“The IAEA can confirm that Iran has started the production of uranium enriched up to 20 percent… in the Fordo Fuel Enrichment Plant,” IAEA spokeswoman Gill Tudor said in a statement.

“All nuclear material in the facility remains under the Agency’s containment and surveillance,” the Vienna-based UN-appointed watchdog added.

Enriching Uranium

Iran already confessed to the existence of the facility back in 2009, and previous reports from the IAEA have stated that scientists in the Islamic Republic were getting the facility ready to begin work to enrich uranium.

Despite being asked to desist from uranium enrichment on four separate occasions by the UN Security Council, Iran has said repeatedly that it will not curtail its program to enrich uranium, insisting that their nuclear program is exclusively for non-military purposes.

For Cancer Research

The UN is worried however, because the 20 percent enrichment the facility is capable of is much more than the needed 3.5 percent enrichment for nuclear power plants.

Iran claims that the higher enrichment value is needed for research they are conducting in their Tehran reactor to create isotopes for treatment against cancer.

West Worried

Western countries do not accept this reasoning, believing rather that Iran is indeed researching how to both develop and deliver nuclear weapons. The west has placed sanction after sanction to persuade Iran to halt its uranium enrichment program, to no avail.

Ayatollah Ali Khamenei

One western diplomat said that, “I don’t think this crosses a red line for other member states. But it certainly sets a worrying trend… You have to ask, when Iran says it is considering engaging (with the international community) and when it says its program is peaceful, why they are putting something in a bunker?”

The leader of Iran, Ayatollah Ali Khamenei said that Iran cannot be dissuaded from its course, and it will especially not bend in the face of sanctions.

“The firm decision of the Islamic Republic is to resist the pressures” of Western governments, Khamenei said.

“While the Iranian people have travelled the road to success and see the signs of new victories to come, the (Western) oppressor is trying to frighten the Iranian people and officials by brandishing the threat of sanctions.”