SHARJAH, 14 May 2007 — Liberty Automobiles Company, one of the largest General Motors dealers in the region, is executing expansion projects with an investment of over AED350 million across the UAE during 2007. The ambitious growth strategy will see Liberty Automobiles open new world-class showrooms, service, parts and other support facilities in Fujairah, Sharjah and Ras Al-Khaimah, while Liberty Abu Dhabi Automobiles, the partner company of Liberty Automobiles, will open similar facilities in Al Ain, all of which will be operational before the end of this year. Sheikh Khalid ibn Abdulaziz Al-Qasimi, chairman of Liberty Investment Company, holding company of Liberty Automobiles, said: “Our expansion plans are fuelled by robust sales witnessed over the past two years” Liberty Automobiles is the authorized distributor for Cadillac, Hummer and Opel in Dubai and Northern Emirates, and for Chevrolet in Sharjah, Fujairah, Ajman and Umm Al-Quwain. Liberty Abu Dhabi Automobiles represents the premium brands, Cadillac and Hummer, in Abu Dhabi and Al-Ain.
DFM Online Stock Game
DUBAI, 14 May 2007 — Dubai Financial Market (DFM) announced the results of its online stock game that kicked off last month. A total of 52 colleges and universities participated in the event, which was organized by DFM to educate students about the intricacies of the stock market and to develop their talent for investing. Hussein Assaad Sadaka from UAE University placed first in the educational competition with ‘profits’ totaling AED1.323 million, followed by Hasan Bassam Adi with a profit of AED1.315 million, and Yazen Assaad Sadaka with a total profit of AED1.312 million. Among the participating colleges and schools, UAE University placed first, while Skyline College won the best Educational Institution Award. Among female students participating in the contest, Farah Sabbar from Skyline College placed first with a profit of AED1.162 million, followed by Trupti Ashar from Skyline College with a profit of AED1.062 million, and Sana Hafeez from Skyline College with a profit of AED859,718.
Shariah Capital Given License
DUBAI, 14 May 2007 — Shariah Capital Inc., a Shariah consulting and advisory company that creates and customizes Shariah-compliant investment product platforms, has been granted a license to operate in the Dubai International Financial Centre. In making the announcement, Dr. Omar Bin Sulaiman, governor of the DIFC, said: “Islamic finance has shown an enormous potential for growth in recent years, giving rise to predictions that it will witness 15 percent average annual growth rates in the next decade.
‘TravelMonitor Study’ Released
DUBAI, 14 May 2007 — Maktoob Research, the full-service online research unit of Maktoob.com, has revealed the results from a comprehensive syndicated survey titled the “TravelMonitor Study” that was conducted in February 2007. The online study canvassed the opinions of 1000 UAE and Saudi adult residents who have taken flights over the past 12 months. It covered topics ranging from travel preferences and trends.
