Middle East Injects US$180 Billion Into 113 New Power, Water, Energy Projects
New power, water, and energy projects valued at US$180 billion are underway or at the planning stages in the Middle East, as the UAE forges ahead with 20 projects worth US$34.2 billion.
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The Skywards Dubai International Jazz Festival is celebrating its tenth anniversary with a series of breath-taking concerts and shows at its new home in Dubai Festival City.
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After the kick-off on 26 January 2012 with a thunderous applause from hundreds of people, 120 models will be sashaying on a 120-meter outdoor catwalk at the Dubai Mall this Friday – 3 February 2012. Hot new faces on the global modeling circuit like Claire Collins, Jena Hall, Emily Cattemolr, Karla Devine, Sarah Lorimer and Bridgette Thomas including the current winner of New Zealand’s Next Top Model will be at the event and pumping up the action at the event will be the international DJ and model Bip Ling.
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Finance professionals believe there will be a renewed global economic downturn in 2012 as the largest ever quarterly survey of professional accountants shows that international trade continued to dry up at the end of last year.
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The Dubai Health Authority is at the forefront of the latest advances in healthcare following its participation in an innovative procedure to treat blocked coronary arteries. The new therapy, which was undertaken for the first time at Dubai Hospital and Rashid Hospital last week, is deemed so groundbreaking that it has been hailed the ‘Fourth Revolution’ in the field of cardiology. The DHA is the first health entity in the Middle East and Africa to offer the new therapy, putting the DHA firmly on the map for breakthrough advances in healthcare.
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The hedge fund industry faces challenges in 2012, but also a year of significant opportunity, according to a Barclays Capital report, The Money Trail. The report contains analysis based on a survey of 165 investors conducted at the firm’s recent Prime Services Hedge Fund Symposium hosted in New York, as well as one-on-one investor interviews and other industry analysis. The surveyed investors manage approximately $4 trillion in assets under management (AUM), of which approximately $500 billion is allocated to hedge funds. This represents one quarter of the hedge fund industry’s total AUM.
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Sultan Al Mansoori, UAE Minister of Economy, said the Arab Spring, which began one year ago, presents challenges to the economies across the region, but also opportunities. Speaking to the Media at the World Economic Forum in Davos, he added that the UAE, as a stable, secure state, will see some immediate short-term benefits as investment flows to safe havens, but in the longer term, all economies in the Middle East will benefit.
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