DUBAI, 7 May 2007 — The Dubai Multi Commodities Center (DMCC) announced yesterday the launch of “Pearls of Dubai”, an integrated pearl center that will include a pearl farm, interpretative concept and a retail destination. The center will be a showcase for a new brand of Dubai pearls that will be produced at a pearl farm located off the coast of Dubai. “Pearls of Dubai” will also develop and train UAE national talent in all aspects of the pearl trade. The recently announced Dubai Pearl Exchange will form an integral part of this chain by providing an exclusive trading platform. DMCC also announced that the offshore farms will produce Dubai brand pearls, which will also be known as “Pearls of Dubai.”
Dubai Studio City Given Sole Power
DUBAI, 7 May 2007 — Sheikh Hamdan ibn Mohammed ibn Rashid Al-Maktoum, chairman of Dubai Executive Council, has issued a directive mandating Dubai Studio City, a member of TECOM Investments, as the sole authority for issuing permissions for various filming and photography activities in Dubai. The directive covers all types of filming for commercial, TV or cinema productions in Dubai. The decision will help speed up the process of issuing permissions through the Location Approval Services department, Dubai Studio City’s one stop shop services unit. Dubai Studio City will process the approvals required from government departments.
TNT Express, SkyCargo in Deal
DUBAI, 7 May 2007 — TNT Express, the world’s leading B2B express delivery company, and Dubai-based Emirates SkyCargo, have signed a new agreement where the cargo carrier will lease a Boeing 747-400 ERF freighter from the company’s European fleet — TNT Airways. The new contract was sealed with the arrival of the first UAE dedicated TNT aircraft. “The arrival of this brand new TNT-owned aircraft into Dubai is a significant milestone for us and will help strengthen our presence in the Middle East market which is one of our fastest growing segments,” said Martyn Wright, managing director-Gulf, TNT Express.
Rasmala CBD Asset Management Formed
DUBAI, 7 May 2007 — Rasmala Investments Holdings Ltd (Rasmala) and Commercial Bank of Dubai (CBD) announced yesterday the establishment of an asset management joint venture company in the Dubai International Financial Center. It will operate under the name “Rasmala CBD Asset Management Ltd” and will be owned 70 percent by Rasmala Investments Ltd and 30 percent by Commercial Bank of Dubai.
