Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I can honestly say I hadn't thought of that until just now...
Too bad Saddam Hussein is dead, or we could have funded his invasion of Dubai next week a few times over -- instead of invading his pissant country a few years back...
hindsight being what it is and all...
Glad to still hear that your up and about too Spar. Sometime we have to chat again. As far as trading, I can't predict it either, but everything I thought would pop has (only because I didn't have cash in em, lol). I am drooling.
Vic
Gold gold everywhere!
The rumors of your demise were greatly exaggerated!
Good to hear from you. I've not been trading much because I can't judge the market lately. I am in FRE and WAMUQ.
Of course it is! Everything connected with Dubai is good! Sheeshh!
Vic ; )
is this a good stock?
Hey Spar.....Happy Thanksgiving to ya lil' bro.
My gosh, I have been away so long, I can't believe how out of the loop I feel. I've been reading up on all my old posts. I had so much fun being an idiot. Am getting the itch to start trading again. How have you been doing with the market? or are you even still trading??????
Vic
If your in the sameplace...be careful!
I thought this board would do so good but it hasn't. You never know bout these things.
OT: Night, gotta work....eom
LOL.....well.....you got me....whatcanisay!
Please keep this board to DD only or I will have to have the moderator delete your messages. We don't need a lot of off topic information to weed through. TIA
Vic
How was that? Just like SLJB. Man I am good!
We need to IM again! SOON!
OT
Being listed in the Ibox as an assistant is always a great way to tell LOL...sorry...but you can update the info box if you ever get the urge to.
PS I no longer have the place at Myrtle Beach...sold it.
I opened up another store but it's a flop.
Kids are doing fine...still married...still have no dog and the cat left and didn't come back.
Oh Man! Does this mean I have to be serious? You know how much I hate being serious!!!!!!! Ok, what are my duties? And how do I know if I am an assistant?
Vic
...your on this one too but nobody ever visits here dadburnit!
Okay. I'll do that very very soon. And the question is do WE have enough boards yet! Your on several of them!
The only market I want to see Dubai effect is when I go out to market looking for more gold, hehehe. Um do you think you have enough boards yet? Hey I can't PM ya cause I am so way too cheap to pay for a membership. Would rather take Chloe out for a fun day instead. Email me Lil Bro!!!!!!!!!
Vic
20-25 % increase in price of building materials hits construction industry again
8/29/2006
The construction industry has been hit by yet another steep hike in prices of core building materials, including red meranti, MDF, whitewood and film-faced plywood.
Prices of these materials climbed by 20 to 30 per cent during August, due to a combination of local and international factors, including higher demand from Europe and higher freight charges.
The increase comes on the heels of another steep climb experienced early this year when prices rose by 10 to 30 per cent. Effectively, the price increase works out to 40 to 45 per cent since January 2006.
According to Mr. Rizwan Sajan, Chairman of Dubai-based Danube Building Materials FZCO, the price of red meranti rose from $550 to $700 per tonne and that of MDF from $215 to $270 per cubic metre in recent months.
Whitewood, another key building material, jumped 20 per cent, to touch AED 1100 per cubic metre, while film-faced plywood rose from AED 90 to AED 125 per piece. Despite the high price, there is an acute shortage of whitewood in the market, added Mr Sajan.
The major suppliers of whitewood, including Romania, Austria, Russia and Chile, have found it more lucrative to divert their supply to the European market which is experiencing a boom, triggering short supply and higher prices in other markets, including the Gulf.
“These continuing price spirals have huge financial implications on the local construction industry, with contractors bearing the brunt as sudden dramatic increases affect their operations,” said Mr. Sajan. “Ultimately, it is the end-user who will be affected by these ongoing price hikes.”
The earlier hike had been triggered by higher freight charges due to local fuel hike, restrictions on log cutting by countries like Malaysia, Indonesia and Burma, appreciation in the Euro and increased local demand.
“The current scenario and the rising local demand indicate there is going to be another big spurt in prices of building materials before the end of 2006,” cautioned Mr. Sajan.
Mr. Sajan, whose company is a major supplier of building materials to the construction industry in the Gulf region, says the current situation calls for a cautious approach by contractors while tendering for contracts and incorporation of special clauses for protecting themselves against such price increases.
Will take time for dubai mkt to mature and become a stage for foreign issues. Has reached out to major mkts such as NYSE and LSE
which should help it become the center of the investment community in the area.
Philippine furniture makers set sights on Middle East market
The Middle East interiors and construction sector is anticipated to grow to a trillion-dollar market in the next few years and this presents tremendous opportunities to Philippine furniture and building materials industries, according to the Center for International Trade Expositions and Missions (CITEM), the export promotions arm of the Department of Trade and Industry.
* United Arab Emirates: Tuesday, August 29 - 2006 at 13:32 GMT+4
Canadian lumber shares surge as dispute ends
By Bernard Simon in Toronto
Published: April 28 2006 20:58 | Last updated: April 28 2006 20:58
Shares of Canadian timber exporters on Friday bounced on news the US would refund billions of dollars in anti-dumping and countervailing duties paid by the companies over the past four years.
The repayments are part of a deal between Washington and Ottawa to end a protracted dispute over Canadian exports of softwood lumber, used mainly for housing.
Dubai is one of the most outstanding cities in the world, hope to go there in 2008. First Class.
This post was made by waverider110
The Dabbagh Group of Companies was founded By Sheikh Abdullah Dabbagh in 1962. Sheikh Abdullah, a former Saudi Arabia Minister for Agriculture, set out with a vision was to contribute towards fulfilling the needs of a developing nation. After leaving the government Sheikh Abdullah formed the Dabbagh Group, initially focusing on the agricultural and engineering sectors. He rapidly developed the Group by diversifying its activities and expanding into a variety of markets, thereby helping to develop the economic base of Saudi Arabia.
http://www.investorshub.com/boards/read_msg.asp?message_id=12939469
Through a combination of organic growth, strategic partnerships, acquisitions, and long-term strategic planning, the Group soon established its name as a driving force and a pioneer of business within the Middle East and internationally. Today the Dabbagh Group comprises 28 autonomous companies, operating in diversified businesses in 30 countries.....
Real Estate
This portfolio handles property management and turnkey project construction and development. The Dabbagh Group has been directly involved in supporting the rapid infrastructure development programs of the Middle East, Africa and CIS countries by developing and managing real estate.
Property Development
Red Sea Housing Services (Red Sea) is the Dabbagh Group’s property operating company and has developed housing projects, hotels and resorts in Central Asia, Africa, the Middle East and the Caribbean. The Company has also completed many projects in the engineering, construction, oil, gas and mining industries. Red Sea’s many clients include Boeing, Fluor Daniel, Saudi Arabian Bechtel Co. and Saudi Aramco. Red Sea has the largest fast-track building manufacturing facility in the Middle East enabling it to react quickly to the needs of its customers. The Company has a reputation for providing unique solutions, often in locations where many competitors would not venture, and for delivering on schedule, regardless of the conditions.
Red Sea was responsible for the turnkey housing requirements of such international projects as ‘Bringing Back the Sun’ in Kuwait, and ‘Operation Restore Hope’ in Somalia as well as ‘Peace Shield’ in Saudi Arabia.
Property Management
The Dabbagh Group owns and manages an international portfolio of real estate that includes hotels, residential communities and commercial properties. The Group also provides fully integrated property management solutions for its customers’ real estate needs throughout the region.
Recent Accomplishments (2000-2001)
Red Sea Housing launched ‘the people house,’ a composite panel prefabricated house, into the West African market.
For more info :
URL http://www.redseahousing.com
Dubai is certainly effecting SLJB.
They probably do not yet but this would be a good "tie in" to their stock. Well actually "our" stock because SLJB is in my port, that's what got me interested in Dubai. Plus a friend of mine (vixpix) has visited their.
Hey! Here you are...
Do the guys over at SLJB know about this board? Relevant, I think...
DWTC launches employee residence project
DUBAI: The Dubai World Trade Centre (DWTC) has laid the foundation stone for a new Dhs82 million employee residential project in Ras Al Khor, Dubai, at a ceremony marking the beginning of construction. The event was attended by DWTC Director General Helal Al Marri, senior DWTC staff and project contractors Al Fahdi Engineering Consultants.
Sunday, August 27, 2006
Trading Begins at Stock Exchange in Dubai
DUBAI, United Arab Emirates (AP) - Trading kicked off Monday at the new Dubai International Financial Exchange, which the United Arab Emirates hopes will promote its aim of becoming a global financial hub.The first trades were only in five stock-index certificates as the exchange has no individual company listings. Its first initial public offering is expected to come next month when the Lebanese telecommunications firm Investcom is listed.
The chairman of the exchange, Lynton Jones, said he hopes to have 15 to 20 companies listed on the exchange in the next 18 months. They are expected to come from the Middle East, the Indian subcontinent, China, South Africa and Eastern Europe.
Located in a steel-and-glass building that resembles Paris' Arc de Triomphe, the Dubai exchange is intended to fill a blank space in the trading day. Currently, market activity begins in Asia and jumps over the Middle East to resume on exchanges in Europe and North America.
"We believe the DIFX fills a vacuum by creating an exchange in the heart of one of the world's most dynamic and fastest-growing economies," said Mukhtar Hussein, HSBC Bank's head of Middle East investment banking.
HSBC has signed on as one of four European member banks that will handle IPOs and other market duties.
Local stock markets, which tend to permit only residents to trade, are booming in the Middle East. By contrast, the Dubai exchange is an international market that is open to foreign companies and foreign investors.
The exchange's operators say it will run under the same transparency and regulatory rules that govern the New York and London exchanges.
For now, the market will open Monday through Friday for only three hours a day, between 2 p.m. and 5 p.m. local time.
The five index certificates listed track the U.S. Standard & Poor's 500 Index, Japan's Nikkei 225, Europe's blue chip Dow Jones STOXX 50 and EURO STOXX 50, and Germany's DAX.
Dubai Islamic Bank and Dubai World to launch US$ 5 billion family of sector specific private equity funds
Posted: 05-04-2006 , 07:32 GMT
Dubai Islamic Bank and Dubai World today announced the launch of the first of its kind US$5 billion family of private equity funds to participate in strategic transactions on a global basis. Dubai Islamic Bank Dubai WorldDubai World is the holding company of Dubai Ports World, Free Zone Corporation, Nakheel, Istithmar and Dubai Multi Commodities Centre among others.
The family of funds that will be launched over the next 18 months comprises seven specific private equity funds covering strategic sectors: Energy, Financial Institutions, Infrastructure, Real Estate, Health and Education, General Industrials and Technology, Media & Telecommunications (TMT). Each fund will be managed by a dedicated team of experienced private equity and industry experts with a proven track record.
The funds will be supported by external advisors including Norton Rose and Baker McKenzie as legal advisors, Ernst & Young as auditors and The Bank of New York as escrow agent. This unique project would allow investors to participate in highly profitable strategic transactions in the sectors of their choice and would strengthen the UAE and Dubai’s position as the financial hub of the Middle East.
Dubai Islamic Bank and Dubai World will be seed investors in each fund. Other investors will include blue chip institutions from the Middle East and beyond. Investors’ initial contributions will represent approximately 30 per cent of total commitments in each fund. Future drawdowns from investors will be on need-basis.
His Excellency Dr Mohammad Khalfan Bin Kharbash, UAE Minister of State for Finance and Industry and Chairman of Dubai Islamic Bank said: “DIB and Dubai World partnered to launch the family of funds that will reinforce UAE as the financial hub of the GCC and the greater Middle East and provide viable investment opportunities on a global basis to public and private investors,” Kharbash added.
Sharing the details, Kharbash said: “The Energy Fund will focus on exceptional opportunities generated by growing demand from Asia. The Financial Institutions Fund will actively participate in consolidation opportunities and the growth in demand for Islamic Banking worldwide. The TMT fund will focus on growth opportunities in the Middle East, Asia and Africa where new technologies combined with under-penetrated communications markets provide unique investment opportunities.”
“The first few funds are expected to be raised during 2006. These funds will be managed by world class experts in the field of Financial Advisory and Private Equity,” he concluded.
His Excellency Sultan Ahmed bin Sulayem, Executive Chairman of Dubai World said: “This project will raise one of the largest and highest profile family of funds in the world and is a manifestation of Dubai’s position as a leading financial center. This US$5 billion family of private equity funds will be leveraged to complete transactions in excess of US$10 billion. These funds will offer institutions and high net worth individuals the rare opportunity to acquire stakes in private companies that operate in some of the most strategic industry sectors globally and will provide a viable alternative to stock market investments.”
“The family of funds will attract world-class talent and leading institutions to Dubai and contribute to the overall development of the UAE. Dubai will also capture numerous indirect benefits from this initiative such as improvements in the financial, economic and knowledge capital as well as increased visibility on a global scale,” Sulayem added.
The combined financial strength and influence of the funds’ core investors will provide preferred access to highly visible transactions alongside leading international companies on a global basis. Initial investors will also have preferential rights to co-invest alongside the funds in these attractive transactions.
Saad Mohammad Abdul Razak, CEO of Dubai Islamic Bank said: “This project provides a unique investment opportunity to investors from the GCC and beyond to participate in highly profitable and visible transactions that are expected to generate returns in excess of 20 to 25% depending on the sector. It is also a strategic initiative for Dubai since it will create Dubai-based institutions with financial scope and expertise that will be able to compete on a global basis with the leading international private equity firms and financial institutions.
“The industry sectors of these funds should also attract Islamic investors who seek to diversify their investment portfolio away from more traditional products,” Abdul Razak added.
The funds will focus on transactions with predictable returns and clear exit strategies via public offerings or trade sales. Each fund might also be partially listed within the first three years at the appropriate time should market conditions be favorable, providing additional liquidity to investors.
Aref Kooheji, CEO of the Investment Banking Group at Dubai Islamic Bank said: “This project is in line with DIB’s Investment Banking Group systematic drive to develop new products in order to meet clients’ needs and adapt to new market development. We believe that our sector based approach to private equity will generate very attractive returns and provide customized diversification to our investors.”
“It is a sea change from the generalist and regional approach to private equity prevalent in the region to date. It is therefore a differentiated investment proposition to the institutions and high net worth individuals of the UAE and the Gulf region. This initiative is also consistent with our strategy of attracting and retaining the best talents in the global financial community with a view of providing comprehensive investment banking coverage and services in priority to public and private institutions in the UAE and the greater Middle East,” he added.
About DIB:
Dubai Islamic Bank (DIB), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices.
DIB is a public joint stock company and its share is quoted on the Dubai Financial Market. The bank enjoys a reputation as a leader and innovator in maintaining the quality, flexibility and accessibility of its products and services. In a very short space of time it has created market leading services and products that are setting benchmarks for the rest of the sector.
The bank’s recent financial results confirm the strength of its balance sheet and profitability. The bank reported net profit for the year ending 31st December 2005 of AED1.061 billion rising by 130 per cent compared to AED461 million in 2004. The profit for the bank, including depositors’ profits, reported a 97 per cent increase for the year ending December 2005 at AED2 billion compared to AED1.017 million for 2004.
Financing and investment operations also delivered strong growth, with total financing now standing at AED25.6 billion rising by 46 per cent compared to 2004. Total assets reported a 40 per cent increase to AED43 billion. Customer deposits too showed an aggressive growth, reaching AED33.34 billion in the year, a growth of 34 per cent over 2005.
The bank has been proactive in creating partnerships and alliances at local and international level. DIB has adapted an aggressive expansion strategy, which started with the establishment of DIB Pakistan Limited, a wholly owned subsidiary of DIB. The bank has also co-managed Pakistan’s US$600 million first Sovereign Islamic bond issue that received a tremendous response from investors.
DIB opened its first representative office in Turkey to improve its access to that market. DIB has also acquired 60 per cent of its stake in Al Khartoum Bank and is also among the parents banks of Emirates and Sudan Bank (ESB). The steps taken mark DIB’s ambitious plans to roll out its operations into regional and international markets as part of its overall strategic plan.
DIB has also shown its outstanding capabilities by being appointed to provide specialist financial solutions for huge developmental projects including the Dubai Ports, Customs & Free Zone Corporation (PCFC) world’s largest Sukuk, Dubai’s Department of Civil Aviation US$1 billion Islamic bond issue. The issue was arranged to raise funding for the second phase of the expansion of Dubai International Airport. The bank also managed financing of US$350 million for Nakheel. The financing made further capital available to build on Nakheel’s blue chip portfolio of developments such as The Palm in Dubai.
© 2006 Al Bawaba (www.albawaba.com)
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |