dubaigoldrates

Category: Featured

  • AED 1.6 billion Dubai Duty Free sales in the first quarter

    AED 1.6 billion Dubai Duty Free sales in the first quarter

    AED 1.6 billion Dubai Duty Free sales in the first quarter

    Announced Dubai Duty Free to achieve sales growth during the first quarter of this year, which reported a 1.6 billion dirhams (438 million dollars), an increase of more than 12% compared with the same period last year, which heralds the possibility of achieving market figures excellent this year, which which celebrates the 30th anniversary of its inception. jumped Dubai Duty Free space for retail sale at Dubai International Airport from 18 square meters to 26 square meters after the opening of Terminal (Concourse A), allocated to the Emirates fleet of model A.083

    Said Colm McLoughlin, Executive Vice Chairman of Dubai Duty Free: initiated the market year of the current well, and without a doubt has contributed to the opening of Terminal A (Concourse A) in this successful start, where met with this new facility welcomed a wonderful by travelers, and allowed us to a chance to be the first to offer many products including the provision of retail services in the lobby of the first-class lounge Aye (Concourse A) allocated to the Emirates, which is going to work with to the fullest, has been possible for us to expand our products existing and provide new brands, is some of the first of its kind in the region. ”

     Showed sales operations through the gates of the Dubai International Airport three remarkable rise, which saw sales Gate 3 allocated to operations Emirates increased at a rate of 19%, and is the largest in terms of sales volume cumulative Dubai Duty Free, which represent 61% of total revenue, however, that the average spending travelers at Gate 1, which represents 31% of sales is a top gate sales also rose 2 by a large number amounted to 22% during the first quarter of the current year.

    Top Sales

    And maintained varieties major such as perfumes, gold on the forefront in terms of achieving the highest sales during the first quarter of the year, which saw perfume record sales of $ 246 million dirhams ($ 67 million), an increase amounted to 16%, while the achieved sugars and sweets increased by 16 % registered 130 million dirhams ($ 36 million), and sales rose electronics 12% after it posted a 119 million dirhams ($ 33 ​​million), and increased sales of cosmetics by 13%, achieving 109 million dirhams ($ 30 million), and watches 23% registered AED 99 million ($ 27 million).

    Employment

    In line with the recent expansion of the retail outlets in the Dubai Duty Free has accelerated the pace of hiring in the first quarter of 2013 through the appointment of a new 648 sales assistant, bringing the total number of Dubai Duty Free staff to 5,717 people.

  • Dubai lead declines in Gulf and severe losses in Egypt

    Dubai lead declines in Gulf and severe losses in Egypt

    Dubai lead declines in Gulf and severe losses in Egypt

    Initiated most of the GCC stock markets closed in this week on declines degrees Sunday, spearheaded by Dubai, Abu Dhabi bourses escaped, Bahrain and Kuwait, as the Egyptian stock market has seen a severe decline Hui main Bmacherha to the new floor.

    In Saudi Arabia, the index ended trading market securities second sessions on retreat reached amounted to 29 points, by up to 0.4 per cent of its value, to settle at 7125.7 points, after trading more than 165.6 million shares, valued financial exceeded 5.3 billion riyals, from through the implementation of 127 thousand and 572 transactions.

    In Kuwait, the index closed the main stock “price” higher by 1.16 points, at about 0.02 per cent of its value, to end trading above the level of 6721 points, after trading nearly 588 million shares, valued financial increase to 52 million dinars, distributed over 8381 deal.

    The long decline Qatar’s index, closing losing 8.5 points, 0.1 per cent of its value, to end the session at 5877.7 points, recording the amount of trading more than 2.1 million shares, valued at approximately 199 million financial Real, through the implementation of the 1637 process.

    In Oman, close MSM down relatively large, amounting to 61.7 points, up to about 1.02 per cent of its value, to end the session at 5989.6 points, after trading more than 33 million shares, valued financial exceeded 7.7 million riyals, distributed the 1789 deal.

    In the United Arab Emirates, benchmark Dubai Financial Market at 1829.2 points, after losing tally 15.6 points, representing rate of about 0.85 per cent of its value, recording the amount of trades over of 163 million shares, and the value of up to 146 million dirhams, from through the implementation of the 2232 deal.

    In the capital Abu Dhabi, the index closed bourse higher by 7.6 points, or 0.25 percent, to end Sunday Session above 3025 points, after trading over 40 million shares, worth financial total convergence 69 million AED distributed over 811 transactions.

    In Bahrain, stock market closed slightly higher on less than half a point, or 0.04 percent of the value of main index, which stood at the end of the session at 1091.5 points, the amount of trading in excess of 950 thousand shares, and the value of financial exceed 130 thousand dinars, through 21 process .

    The Egyptian Stock Exchange has continued to hemorrhage more points, closing main index “EGX 30”, down more than 84 points, by up to 1.6 per cent, to end trading below the level of 5100 points, recording the amount of trades convergence 85 million shares, worth 221 million pounds, distributed over 15 thousand and 284 deal.

  • Middle East Watch and Jewellery Show Begins its 34

    Middle East Watch and Jewellery Show Begins its 34

    Middle East Watch and Jewellery Show

    Participation ‬ 450 exhibitors from all over the world are doing their best products of gold, diamonds, pearls and precious stones, watches, launched yesterday, activities of the ‬ 34 of Middle East Watch and Jewellery Show, organized by the Sharjah Expo Centre, and will continue until ‬ 30 March.

    The exhibition is being held on the display area of ​​‬ 20 thousand square meters high demand from the public, investors and traders, is expected to attract gold prices low since about six months a large number of buyers to one of the most important shows the region in the field of gold and jewelery, where he sees exhibitors and representatives Industry that the significant drop in the level of the price of gold will attract more visitors and increase the sales rate, gold prices are down and swing around the level of $ 1,600 an ounce in six months.

    After the ribbon-cutting traditional HH Sheikh Abdullah bin Salem Al Qasimi, Deputy Ruler of Sharjah, toured the exhibition where he met with exhibitors and heard them to explain the exhibits and input in this session of the visitors of the latest designs and models and brands of global and local, and praised for their participation and good organization, pointing out that Emirate of Sharjah has become an important center for hosting and organizing specialized conferences and exhibitions, including the exhibition, which witnessed wide participation from international and local exhibitors.

    The head of the Chamber of Commerce and Industry (SCCI), Ahmed Mohammed Cannon: «The Middle East Watch and Jewellery a most important exhibitions held by Expo Centre Sharjah, and eagerly awaited by twice a year not only lovers of gold and precious stones, but also traders who are keen to visit the two sessions of the show each year to get to know the latest lines, designs and tastes

    The general director of the Expo Centre Sharjah, Saif Mohammed Al Midfa: «exhibition under the patronage of His Highness the Ruler of Sharjah, and it meant a broad audience of wealthy and important personalities from the region, which promotes a famous exhibition and stature, and proved the previous sessions of the exhibition that the high price does not stand barrier between lovers gold and diamonds and the acquisition of what they want from the cut and products, has emerged this clearly in the fourth quarter in ‬ 2012, when sales rose gold rose ‬ 6%, despite the high prices, however the current decline in prices, we expect a rise in sales ».

    According to the report the World Gold Council, sales rose gold in the UAE by ‬ 6%, which increased from ‬ 385 million in the fourth quarter in ‬ 2011 to ‬ 408 million in the fourth quarter of ‬ 2012, and reached ‬ 7.4 tons, up ‬ 4 %.

    According to the statistical FCA, the form of gold more than half of the country’s exports. The gold at the head of UAE exports of non-oil worth ‬ 21.6 billion during the month the first nine ‬ 2012, while imports from gold rose ‬ 13% to $ ‬ 28.9 billion dollars, followed by diamonds worth eight billion dollars, which reinforces the status of the state as one of the most important Trade and distribution centers gold. And is expected to lead the high number of tourists in the state to increase sales of gold, have numbered about 10 million tourists in 2012, with expectations of an increase vehicle of 5.3% between 2012 and 2022.

    The specialty of the current session of the exhibition showroom full of Thai jewelry known, full of elegance and attractiveness. Visitors can see the jewelry district of creations the most important jewelry makers Thais and months supermodels Thai under the name «Bilwi Tai», sponsored by the Association of jewelers and gems Thai. Participating in the exhibition in its current national pavilions of China, Hong Kong, Italy, Malaysia, Thailand, Singapore, and India, in addition to the most famous houses and stores Asaatd and jewelry Emirates. And witness this session of the exhibition effective new is expected to attract more visitors, as will every buyer worth ‬ 500 AED from entering the draw which will take place in the last days of the exhibition to win a «Mercedes Benz» Introduction gift of projects «Gargash» and others, in addition to daily draws on other prizes.

  • Croatian Exotic Gold Coins

    Croatian Exotic Gold Coins

    Croatian Exotic Gold Coins

    A land that was once residences of ancient Neanderthals, and now, Croatia is to be a new member of the European Union, have gold coins worth mentioning.

    The IMF classified the country as a developing economy nowadays, and Croatia was part of Yugoslavia under the famous leader, Tito. It was one of the most flourishing countries in Eastern Europe due to its neutral foreign policies. Croatians didn’t need visas to travel from one country to another, as the part of the 1960s NAM along with Egypt’s Jamal Abed El-Nasser and India’s Mahatma Gandhi.

    It was a part of the Hungarian and the Austrian rule from the 16th century till the World Wars I & II. And before that, it fought the Ottoman Empire for nearly 2 long centuries.

    There might be no gold production now in Croatia, and it is one of the countries that have no gold reserves. The Croatian gold reserve might have been stolen during the chaos that followed the fall of the Soviet Union iron curtain. The truth is, no one knows for sure what happened back there.

    Nevertheless, Croatia issues gold coins. There are available Croatian gold 20 Kuna coins minted in 2010 in 5,000 pieces. Also, there are 1994 Dukat coins, 1000 and 500 Kuna coins, and the old 1941 gold coins of 500 Kuna. The price ranges from $150 and $400.

    For gold coins collectors, especially generalists, these gold coins are worth considering.

  • UAE economy grows by 4% this year

    UAE economy grows by 4% this year

    UAE economy grows by 4% this year

    According to press reports that the UAE economy will grow this year by 4%, compared with growth of 3% in the past year.

    The reports attributed this growth to the financial strength enjoyed by the Abu Dhabi government, and strong indicators for key sectors in Dubai’s economy, and the ability of companies to fill the debt maturities on the short and medium term, with high levels of global investor confidence the economy of the emirate.

    The UAE economy grew by 3% in 2012, due to the growth of non-oil sectors, high public spending, and the arrival of GDP to 374.5 billion dollars.

  • UAE has the highest proportion of global consumption in jewelry

    UAE has the highest proportion of global consumption in jewelry

    UAE has the highest proportion of global consumption in jewelry

    Concluded Dubai Diamond Conference, 2013 and organized by the Center for DMCC and the Dubai Diamond Exchange, its activities successfully last Tuesday. Following a gala dinner attended by more than 600 guests in a tent legends, Atlantis, The Palm, the conference concluded its final meeting by talking about Dubai and the Gulf Cooperation Council (GCC), manufacturers and jewelers. The main topics included that were discussed during the meeting the changes in the luxury goods retail market, were reviewed the benefits and challenges faced by consumers globally.

    Said Arnaud Vlamboa, from a company Vlamboa to Ogjra Traeadeng TDM CC, during a presentation: “The number of individuals of high net worth in Dubai and who exceed their wealth thirty million dollars, is expected to increase by 53% in the next ten years, will continue to market retail trade of luxury goods growth process. With its modern infrastructure, and culture that is open to the world, and the growing number of wealthy locals, as well as levels of safety and high safety, Dubai has become more important than ever for all international luxury brands, including diamonds. ”

    For his part, after Rehan Mehta, general manager, Rosy Blue words Vlamboa: “lies next logistical step in the growth of Dubai center of the diamond trade to become a center for the manufacture of jewelry as well. The local companies that have benefited from Dubai’s geographical location between producing and consuming countries, is now preparing to manufacture their own contemporary jewelry with high quality, which will push Dubai to enter a new phase of growth. ”

    Said Amit Dmani, Chief Executive Officer and Group Managing Director Dmani Jewelry: “the UAE has the highest proportion of jewelry consumption in the world compared to the number of population, and provides approximately 80% of tourists to buy jewelery during their visit to the state. For example, provide the majority of our customers to buy Chinese solitaire, they know exactly what you want to buy it before they enter the store, while the vast majority of our customers Russians are buying impulsive and without prior planning. So retailers must make sure they are fully aware of the purchasing habits of their customers and meet their needs accordingly. ”

    It also included workshops Evening number of speakers, including, beautiful Persian, Dean jewelry and former Chairman of the gold and jewelry in the Jeddah Chamber of Commerce; and Chandu SIREUIL, Vice Chairman of the Dubai Gold and Jewellery; and Roberto Coin, Chairman Roberto Coin Spa in Italy; and Roland Laurie, CEO of the International Gemological Institute (IGI) and Solomon Othaim, CEO of Solomon Othaim Jewellery, from Saudi Arabia.

    Said Ahmed bin Sulayem, Executive Chairman, Dubai Multi Commodities: “attended the opening ceremony of the Dubai Diamond more than 600 representatives and 28 speaking highlighted the fundamental aspects of the global diamond industry. The diamond trade today became truly international, and a list of the names of the participants in the conference are good evidence of the growing role played by the East in the industry. We have heard during the past two days, the views of the most important leaders of 19 companies operating in the diamond and financiers from Antwerp to Zimbabwe, and the rest of the world.

  • Standard & Poor’s expects increase loan volume growth in UAE in 2013

    Standard & Poor’s expects increase loan volume growth in UAE in 2013

    Predicted agency Standard & Poor’s lending growth in the UAE banks during the current year, due to the recovery of the financial sector.

    The agency said that Abu Dhabi banks will occupy an important share in this growth due to strong budget.

    Said Standard & Poor’s banks increased their allocations to short-term liquid assets during the last few chapters quarterly.

    The agency indicated that the growth of private banking personnel will remain relatively strong in 2013, as a result of the growth potential in lending Alrhenne, on the back of recovery in the real estate sector, especially in Dubai.

  • $ 749 million DP World profits in 2012

    $ 749 million DP World profits in 2012

    $ 749 million DP World profits in 2012

    News reports said DP World profits reached last year to $ 749 million.

    The reports attributed the profit as a result of strong operational performance for its global operations and related financial management and process management of assets and the continued investment in the future growth of the company.

    The reports indicated that the company’s revenue grew 5 percent to $ 3.1 billion due to strong performance in the Middle East, Europe and Africa, and reached earnings before deducting interest, taxes, depreciation and amortization to 1.4 billion dollars, a growth of 8%.

  • UAE – Nakheel studying financing Mall of Jumeirah Palm

    UAE – Nakheel studying financing Mall of Jumeirah Palm

    UAE - Nakheel studying financial Mall of Jumeirah Palm

    6 banks begin next week tour to promote the subordinated bond of $ 500 million or about 1.8 billion dirhams planned Emirates NBD raised, and in a number of cities, including London, Geneva, Singapore, and according to a source familiar with the deal.

    The source expected (statement) to be completed by the promotional tour in one day, which will be distributed among banks visit capitals at the same time, pointing out that the bond launch comes within the framework of the bank’s ongoing quest to reduce government support for capital ratio.

  • Dubai Financial Market back green in last week’s transactions

    Dubai Financial Market back green in last week's transactions

    DFM succeeded in returning to the green box on the last day of the week, and offset part of the losses suffered in the previous day, while the market continued ADX decline, with high negative performance of some bank shares.

    In the final outcome of the trading week, managed general indicators of capital markets to maintain their balance, although the loss of the market value of shares traded companies, reached during the past five sessions AED 1.2 billion, closed at 440.3 billion dirhams. The index fell for the UAE financial market to the level of 2963 points, and 0.29% during the week, as a result of decline in some property stocks.

    And Emaar, which fell 3% to 5.39 dirhams, and ESHRAQ by 4.8% to 59 fils. Also cast a negative performance of some banking stocks overshadowed transactions, including the frontline First Gulf Bank, which lost 3% of its value and closed at 13.10 dirhams.

    Caution returned to the behavior of traders, reflected on the volume of cash in circulation, which fell to $ 1.5 billion dirhams during the week, and by 60%, compared with the previous week, which amounted to 2.5 billion dirhams. The number of shares traded billion shares through 15348 transactions. Despite this atmosphere, but some stocks managed to achieve good gains and reduced losses indicators. Among them was arrow “de” high by 5.5 percent to 4.93 dirhams, Mcharva thus breaking the barrier of 5 dirhams.

    Dubai

    Returning to the details of the last day of trading this week at the level of the market, the Dubai market has been able to bounce back with the support of requests to buy a slice of heavy stock, some of which have achieved breakthroughs price is the first in more than 52 weeks.

    It was the biggest supporter of the market this time, shares of Emirates NBD, which jumped 2.5% to 4.04 dirhams, amid active trading. Also managed by Emaar to return to profitability, rose to 5.44 dirhams, before that reduces the profit of its gains, closing at 5.39 dirhams, and value of transactions exceeded by 64 million dirhams.

    In addition to the shares de upward to 4.93 dirhams, has contributed Activity cooling CSS at AED 1.58 to support the market, as well as Dubai Islamic Bank 2.08 dirhams, Air Arabia 0.918 AED, and Drake & Scull 76 fils, and Dubai Investments 91 fils, and Deyaar 0.344 AED and Gulf Navigation 0.251 dirhams.

    Shares Takaful insurance without exception strong gains, led by shares safety, which reached 1.07 dirhams, and share gains exceeded safety of 2.2% to 64 fils, and Takaful House shares rose by 3.5% to 0.621 dirhams. As Ajman Bank shares fell to 1.50 dirhams, Union Properties 0.405 dirhams.

    It is a new, managed Market General Index Dubai to return to the level of 1910 points, an increase of 0.63% compared with the first session yesterday.

    The negative prevailed shares trading on NASDAQ Dubai offered through DFM platform, and drop back to DP World shares closed at 14.05 dollars.

    Abu Dhabi

    In Abu Dhabi, continue to decline, and at rates higher than the previous day, under pressure from some negative banking and property stocks, as well as Etisalat low for the second day in a row, and closed at 10.20 dirhams. The general index lost 0.75% of market value, the downside to below 3 thousand points again, and closed at 2995 points.

    The National Bank of Abu Dhabi the most pressure on the market after it fell to 10.60 dirhams and 3.6%, along with First Gulf Bank, which fell to 13.10 dirhams. As shares fell Sharjah Islamic Bank to 94 fils, while shares stabilized Abu Dhabi Commercial Bank at AED 4, as well as Abu Dhabi Islamic Bank 3.70 dirhams.

    In the real estate sector, performance varied Sorouh fell to 1.74 dirhams, and then came ESHRAQ to 59 fils, with only Aldar previous close at 1.40 dirhams, and RAK Properties 56 fils.

    Bucked the energy sector overall trend, and achieved good profitability, led by Abu Dhabi National Energy high to 1.35 dirhams, and Dana 47 fils.

    83.8 million foreign purchases in Dubai

    The total value of foreign purchases of shares in the Dubai Financial Market yesterday 83.81 million dirhams, which constitutes 46.69% of the total value of purchases in the market, while the total value of their sales AED 82 million which constitutes 45.69% of the total value of sales, netted foreign investment about 1.8 million dirhams aggregate buy.

    And detailed the value of foreign purchases, non-Arab, from about 39.72 million shares dirhams, while sales amounted to some 40.17 million dirhams. The value of purchases non-Gulf Arab investors 28.86 million dirhams, and the value of sales of 35 million dirhams. As for the GCC investors, the value of purchases 15.23 million dirhams, while sales amounted to 6.81 million dirhams.

    Gulf markets

    Fell at the end of yesterday’s trading, four indicators GCC capital markets, was at the forefront the Abu Dhabi Securities Market index, while the indices of Dubai and Qatar by 0.63% and 0.32%. The decline in the Abu Dhabi Securities Market index rose 0.75%, followed by Kuwait price index down by 0.16%, then the Bahrain Stock Exchange index rose 0.15%, and was at least MSM decline by 0.05%.

    Disclosures

    ‘Scandinavian’ approves distribution of 15% cash

    Assembly approved the company’s Arabian Scandinavian Insurance, at its first meeting yesterday, the distribution of a cash dividend to shareholders by 15% of the capital in 2012, was identified March 31 as the date for entitlement to profits.

    17.4 million loss “Green Crescent Insurance”

    Losses amounted to Green Crescent Insurance during the past year AED 17.4 million, compared with 43.8 million dirhams a net loss in 2011, a decline in losses per 60.2%, to retreat losses per share to 0.17 dirhams, compared to AED 0.44 in 2011. T mention that the meeting of the Extraordinary General Assembly the company, which was held on 20 November 2012.

    Unanimously approved the continuation of the company to carry out its work despite the losses suffered by them. The Assembly also agreed to reduce the capital of AED 250 million to AED 100 million, and writing off 150 million dirhams of the capital, which is the value of the losses incurred by the company until the end of the third quarter of 2012.

    Postpone general Dana Gas is normal

    Dana Gas was postponed EGM of the company, which was scheduled to take place yesterday, to a lack of quorum for the meeting, and for the second time. It was scheduled to take place the Assembly in the first time on March 14, to approve the restructuring instruments company issued in October 2007, and by issuing instruments of $ 425 million, and instruments convertible into shares at $ 425 million, according to the terms agreed with the campaign instruments.