Thursday, April 28, 2011

FINE Tissues unveils its New Look and Brand promise of a ‘Carefree World’

Arab Superbrand refreshes signature floral motif and renews commitment to

a ‘Carefree World’

Dubai, UAE – 27th April, 2011 – Fine Tissues, the premier household name in

hygienic paper products, today unveiled its new brand identity. While the familiar

pastel box that has been a part of almost every Arab household for the last 50

years in the Middle East, has evolved into a more modern contemporary design,

the new brand promise is an effort to actively involve the community in the

company’s efforts toward creating a carefree world.

This evolution was a natural progression for the company that has always

delivered on trust and care. The new identity is a bold and confident statement

that features the brand’s promise - “Carefree World of Fine”. The slogan is an

accurate reflection of the brand’s multiple offerings, regional presence and its

responsibility to provide a worry free product for its consumers. It also promises

to bring focus to the company’s extended capabilities, highlighting its renewed

commitment while maintaining its heritage and experience.

The launch coincided with the brand’s celebrating its 21st year in the UAE, the

revamp of its iconic logo and packaging showcases the long term commitment of

the brand to this region and its bold promise of social engagement.

“The new look is just the tip of the iceberg - the bigger promise is a renewed

commitment to further making a carefree world, whether this manifests in the

things that we produce, the technologies we use, our approach to business,

our involvement with the community or our efforts towards a sustainable

environment. With Fine’s continued growth, rebranding with a new voice and

identity is a logical progression for the brand. While the Fine brand is historic, it

is a forward-thinking one and well equipped to serve the needs of the community

and the marketplace. This new vision is a significant change for the brand that

has served generation after generation, and it is important for our consumers to

understand our continued commitment and dedication to serve them” said Peter

Janho, Chief Area Officer, Nuqul Group.

“The logo and brand promise is the most significant aspect of our new image.

It envelops our philosophy of continued customer care as we are committed to

understand their experience with, and how they perceive our brand” said Mazen

Kattan, Chief Marketing Officer, Nuqul Group.

“A host of specialists have worked tirelessly on the brand and the result is a much

more modern and contemporary take on the signature floral theme of the Fine

brand,’ added Sami Awad Marketing Director, Nuqul Group.

The new brand identity replaces a historical brand that had been used since the

launch of the company over 50 years ago. Fine Tissues used specialist branding

and communications agencies to develop the new brand identity that is more

representative of the brand’s future. The new visual representation of the brand

will appear across all media used in the advertising campaign, on all printed

collateral and on a newly rebranded website.

Deerfield’s Town Square on Track for Delivery in Q4 2012

34 Per Cent of Project Leased to Retail Tenants;

Over 20 Per Cent of Overall Construction Completed

Abu Dhabi-UAE: 26 April, 2011 – Deerfield’s Town Square, the AED700-

million destination mall taking shape at the Al Bahiya district of Abu Dhabi, has

achieved significant progress on the leasing and construction front and is on track

for delivery in Q4 2012, developers MBI announced today.

With Jones Lang Lasalle on board as retail and leasing consultants, over 34 per cent

of the project has already been leased to retail tenants. Nearly 40 per cent of the

mall’s 808,000 sq. ft. gross leasable area has been assigned for retail, while 24 per

cent is allocated for retail anchor, 18 per cent for entertainment, 14 per cent for

food and beverage options, and four per cent for services outlets. The development

is anticipated to receive a target footfall of 10 million visitors per annum.

The project financing mix now features a minority stake by its main contractor

Fibrex Construction Group, Abu Dhabi.

More than 20 per cent of the overall construction has been achieved to date at

the Deerfield’s Town Square. While the basement is completed, slabs on the

Garden Level have additionally witnessed considerable progress. Nearly 50 per

cent concrete cast is in place on the north side of the Garden Level Slab and 75 per

cent concrete cast achieved on the south side. Meanwhile, a total of 47,000 out of

128,000 cubic meters of concrete cast has been poured and a total of 8,000 tonnes

of 18,000 tonnes steel used.

Addressing a press conference to announce the construction milestones achieved

at the destination mall, Banu Tas, General Manager of Deerfield’s Town Square,

said: “The community surrounding this emerging neighbourhood in Abu Dhabi is

expanding and developing rapidly. By 2012, residences will reach 90,000 in the

mall’s vicinity. It is not unusual for a resident in this neighbourhood to travel up to

Dubai or mainland Abu Dhabi to shop for essentials almost twice a week. Clearly,

the location is vastly underserviced in terms of retail, and Deerfield’s Town Square

will be uniquely placed to satisfy these needs.”

The scale of Deerfield’s Town Square, which was first announced in 2008, has been

redesigned to offer a more practical solution for the neighbourhood community and

the emerging competitive environment of Abu Dhabi. In its value-engineered new

format, the project will comprise a healthy mix of mid-tier retail mix offering and

positioning, a large and innovative family entertainment centre, a multiplex and a

wide spectrum of casual and fine dining cuisines.

Earlier, Deerfield’s Town Square had announced Carrefour as an anchor tenant.

Currently, it is in the process of finalizing several mid-sized value-oriented family

retail stores. Governmental services, medical facilities, and essential services

components are also in the process of registering interest.

The mall, which will cater to a 15-km catchment area in its radius consisting of

communities including Al Bahia, the Raha Beach, Khalifa city, Musaffa, Yas Island

and Reef amongst others, will offer unique facilities and rate high on accessibility.

The Renault Group Reports 15% Increase In Revenues And Record Sales In The First Quarter

-     Renault Group revenues totaled €10,431 million in the first quarter, up 15.0% on the same period in 2010.
-     The Group posted record sales in the first quarter, selling 692,607 units, or 5.8% more than in the first quarter of 2010, on the back of growth in markets outside Europe, particularly Brazil, Turkey and Russia.
-     Group sales outside Europe climbed 26.6%, reaching an unprecedented 259,308 units. Market share was up in the Eurasia and Americas Regions.
-     Automotive revenues rose 15.3%, on strong sales and an improved product mix.
-     As announced, the remaining amount on the loan provided by the French government in April 2009 was repaid early in two installments in February and April.
-     The target of Automotive operational free cash flow[1] above €500 million in 2011 has been confirmed.

Commenting on the results, Carlos Ghosn, Renault Chairman and CEO, said, "The first-quarter results are good, lifted by stronger markets and our good international sales performance. In this environment, we are in a position to absorb the forecasted impact of potential supply constraints and confirm the operational free cash flow target for 2011".

Commercial results: First-quarter 2011 highlights

Buoyed by growth in international markets, Renault Group sales amounted to 692,607 units in the first quarter, rising 5.8% in a global market that expanded by 7.2%. The Group increased its market share outside Europe in two key regions, the Americas and Eurasia.
In Europe, in a passenger car and light commercial vehicle market that fell slightly (1.0%), Group sales were down 3.7%, owing mainly to supply constraints in the first quarter. In France, these constraints were compounded by the last deliveries made under the scrappage bonus, leading to a 0.5% drop in sales in a market that rose by a strong 8.8%.
The Renault brand was number two in Europe, with 8.9% of the passenger car and light commercial vehicle market (down 0.3 points on the first quarter of 2010), moving up one place compared with last year.
In the light commercial vehicle market, Renault brand sales surged 12% in a recovering market (8.6%). Commanding a 15.4% share of the market, the Renault brand consolidated its position as leader, with a substantial 3.2-point lead over its nearest rival (compared with 0.9 point in the first quarter of 2010).

Outside Europe, buoyed by robust markets, Group sales rose rose 26.6% in the first quarter to a record 259,308 units, accounting for 37% of the Group's total sales (six points higher than in Q1 2010).
In the Eurasia Region, sales rose 88.2% in markets that grew 66.4%, thanks to the success of new products, in particular Sandero. The Group had a 6.0% share of the Russian market, up 0.5 point compared with Q1 2010.
In the Euromed Region, where markets grew 37.0%, sales were up 33.0% amid contrasting country performances. The Group did well in Turkey, reporting a 120% increase in sales and raising its market share by 3.3 points owing in particular to the success of Mégane and Fluence. Sales in Romania, meanwhile, fell 27.1% in a market that was down 15.0%.
In the Americas Region, sales hit records for both volume and market share. Sales climbed 35.3% in markets that rose 12.6%, while market share advanced by one point compared with Q1 2010 to 6.0%. Brazil was the Group's third-largest market in the first quarter of 2011.
In the Asia-Africa Region, Group sales declined 2.3% in markets that were up 3.5%. Renault Samsung Motors in Korea had to contend with an unfavorable comparison basis and a major offensive by competitors.

First-quarter revenues by activity
Group revenues increased 15.0% to €10,431 million in the first quarter of 2011.
Automotive revenues rose 15.3% (14.0% excluding currency effects). The increase relative to Q1 2010 was mainly attributable to:
·         increased sales of new vehicles, for 4.3 points (including a negative one-point impact from the geographical mix),
·         an improved product mix, for 5.9 points, far exceeding the negative impact of price erosion (-0.7  point),
·         increased business with partners, for 1.9 points (sales of vehicles, components and powertrains).
Sales financing revenues rose 8.4% in first-quarter 2011. The number of new contracts for RCI Banque (253,109) rose 11.3% compared with the first quarter of 2010, and average loans outstanding amounted to €22.0 billion, up 7.3% on first-quarter 2010.

Overview of the Group's financial situation
In the first quarter, the Group's financing activity continued through RCI Banque, which raised €2 billion on the markets by making two bond issues (€1.5 billion) and securitizing a German auto leasing portfolio (€0.5 billion). In April, RCI Banque also made its first-ever bond issue in the USA, a Rule 144A / Regulation S private placement worth $1.25 billion.

As announced, Renault made an early repayment in two installments (February and April) of the remaining €2 billion on the loan provided by the French government in April 2009.

At March 31, 2011:
- Automotive had €4 billion in undrawn confirmed credit lines with top-rated banking institutions;
- RCI Banque's available securities (undrawn confirmed credit lines, European Central Bank eligible assets and cash) amounted to €6.5 billion, covering more than two times total outstandings of commercial paper and certificates of deposit.

The Group's results for Q1 2011 are ahead of plan compared to guidance given at the start of the year.
With the supply of certain parts already under strain in the first quarter, the tsunami in Japan has increased the pressure on the global automotive industry's logistics chain and could result in slower production in the coming months.
At this stage, the Group's targets for full-year 2011[2] are unaffected by the expected temporary impact of this slowdown. In 2011, Renault is expecting to post higher sales volumes and revenues than in 2010, with global industry volumes lower than initial expectations. The Group is targeting Automotive operational free cash flow of over €500 million with a ratio of capital expenditure and R&D close to 9% of revenues.

Renault Group consolidated revenues
(€ million)

1st quarter

Sales Financing

About Renault:

Renault is a 113 year old French car manufacturer. Today, the Renault group is composed of 3 brands (Renault, Dacia and Renault Samsung Motors) and has industrial and commercial presence in 118 countries.
The Renault-Nissan alliance established in March 1999 is the first industrial and commercial partnership of its kind involving a French and Japanese company. The success of the Renault-Nissan Alliance is evident. In 2010, the Renault-Nissan Alliance sold more than 7 275 000 vehicles, a 19,6% increase compared to 2009 representing 10,3% of Global market share.

For 113 years, Renault has been promoting a vision that is in tune with its time; the car must always present progress, responsible commitment, a source of enthusiasm and sustainable mobility for all. Therefore Renault designs, develops, manufactures and sells innovative, safe and environmentally-friendly vehicles (12 model have been awarded the maximum 5-star Euro NCAP rating from 2001 to 2009).

Its 122 615 employees contribute to a strategy of profitable growth based on three key factors: competitiveness, innovation and international expansion. Renault sales outside Europe are currently around 37% of the total, which reached a historical record in 2010 with more than 2,6 million vehicle. In 2010, Red bull Racing Renault won the Formula-one world drivers’ and constructors championships, the 8th driver Title and 9th constructors’ title for Renault Engines. For the 2011 season Renault-powered three teams – Red Bull Racing Renault, Lotus Renault GP and Team Lotus.
Renault’s ultimate success in formula 1 confirms the quality and reliability of Renault engines.

Renault is a people-centric and innovative company, offering sustainable mobility for all. This vision is the heart of the new Renault brand baseline ‘drive the change’

‘Drive the change’ is faithful to the brand’s values – human, reliable and enthusiastic. It also expresses the ambition of Renault to pioneer sustainable mobility for all. As well as making the automobile industry a source of progress for mankind. At Renault, the belief is that it is no longer up to the world to adapt itself to the automobile, it is up to the automobile to adapt itself to the people and the planet.

Renault will be the first carmaker to mass market a range of four electric vehicles  (Renault Fluence Z.E, Renault Kangoo Z.E, Renault Twizy Z.E and Renault Zoe Z.E) with zero emission (in use) and accessible to all. The first vehicles in the EV range will make their market debut in fall 2011.

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[1] Operational free cash flow: cash flow (excluding dividends received from listed companies) minus tangible and intangible investments net of disposals + /- change in working capital requirement.
[2] N.B. Renault owns 43.4% of Nissan, taken as equity associated earnings in the accounts. Any potential impact occurring from the natural disaster in Japan on Nissan’s operations shall be communicated by Nissan. 

Russian businesses unite under the umbrella of Dubai Chamber

Launch of the Russian Business Council is seen as a means to
establishing stronger trade ties between Dubai and Russia

Dubai, UAE: The Russian Business Council, which has become the
39th Business Council operating under the umbrella of Dubai Chamber
of Commerce & Industry, was officially launched at a ceremony held at
The Palm Jumeirah Zabeel Saray Hotel on Wednesday.

Led by Dr. Igor Egorov, the Council has representatives from a
number of companies, co-owned and operated in Dubai by Russian
businessmen from general trading, publishing, event management,
interior design, consulting, radio broadcasting and many more.

H.E. Andrew V. Andreev, Russian Ambassador to the UAE, said: “We
consider the launch of the Russian Business Council in Dubai and
Northern Emirates as a vivid confirmation of dynamic development
of Russian-Emirati relations. Undoubtedly, this launch has a special
colour because it is taking place in the year of 40th anniversary of
diplomatic relations between Russia and the UAE.

“We note with satisfaction that our countries are bound with strong
ties of friendship and co-operation and we consider the UAE as our
important political and economic partner in the Middle East. The
turnover between Russia and the UAE is increasing from year to year
as well as activities in the field of investments. The number of Russian
companies doing business in the UAE is also increasing.

“In general we think that the Russian Business Council activity will
become an important factor in development of Russian-Emirati
relations. And in this respect the Council may rely on full support from
the Russian Embassy in the UAE,” said the Ambassador.

Welcoming the newly-formed Russian Business Council, H.E. Hamad
Buamim, Director General, Dubai Chamber, said that this latest
Council’s coming on board will help business communities of the
UAE and Russia to establish stronger trade ties and contribute to the
economic development of both the countries.

Buamim said: “Dubai is home to 394 Russian partnership and
ownership companies while the country is ranked 43rd in the list of
the Emirate’s top trading partners as it offers a fertile environment for
Russian investments. Dubai’s non-oil trade with the country reached
AED 3.25 billion at the end of 2009 and there is tremendous scope to
take these figures to a higher level.”

Buamim further added that Russian investments are increasing every
year and their companies are expanding globally while looking for
different markets. “It’s here that Dubai can assist Russian businesses
wanting to reach out to the Gulf region as well as different countries of
the world due to its strategic location providing easy access to South
Asian, African, Latin American and Far Eastern markets. I see great
future for Russian investors and professionals in Dubai,” he said.

Serghey Tokarev, General Secretary of the Russian Business Council
in Dubai and Northern Emirats said, “We are delighted, that finally all
Russian businessmen and entrepreneurs got their own house, where
doors are always open for business ideas sharing, free networking,
partnership seeking opportunities and other issues, related to the
establishment of the strong and transparent mutual relations among
our business communities of different levels, as well as to the spread

of business activities of Russian companies in the UAE and vice-versa

Emirates’ companies and business groups in Russia and neighboring

As a representative of Dubai’s business community, Dubai Chamber
spearheaded the establishment of 24 business groups and 39 business
councils and supervises all their activities and overall functioning. The
Chamber plays a supervisory role in strengthening and enhancing
cooperation between these official entities and the Government while
providing them a platform to network and attend global forums and
to meet and establish newer business ties with businessmen from
unexplored markets of the world.

4th Gulf Film Festival thanks industry partners for contributing to region’s filmmakers

Dubai, UAE; April 28, 2011: The Gulf Film Festival, the home of bold, contemporary and innovative
cinema from the Arabian peninsula, thanked its host of business partners and industry supporters
following the conclusion of its successful fourth edition last week.

The Festival, which screened 153 films from 31 nations free to the public from April 14 to 20 at Dubai
Festival City, was held under the patronage of His Highness Sheikh Majid Bin Mohammed Bin Rashid
Al Maktoum, Chairman of the Dubai Culture & Arts Authority (Dubai Culture). The 2011 Festival
included a Gulf competition for feature, documentary, short and student films, an international shorts
competitions, out-of-competition segments, a master class by renowned director Abbas Kiarostami and
other special events.

Apart from joining hands for a two-year partnership with renowned Swiss watch manufacturer IWC
Schaffhausen as the festival’s ‘Special Partner,’ the Gulf Film Festival worked with several key Co-
Partners including leading educational partner New York Film Academy, Abu Dhabi; Al Barq Digital;
Crystal Gallery; Flicker Show Productions; Leo Burnett; and Masar Printing Press.

Mahsa Motamedi, Director of Marketing & Sponsorship, Gulf Film Festival, said: “We are thankful to
our partners for their support of the festival and their contribution to delivering a very successful event.
The partnerships underscore the appeal of the festival in bringing together industry leaders to offer a
superior experience to our audiences and industry participants.”

During the Festival, the New York Film Academy, Abu Dhabi hosted student workshops that covered
all aspects of filming, and announced two special awards for outstanding Gulf student filmmakers. The
winners will receive scholarships for filmmaking or acting course at the Academy.

Al Barq Digital, an innovative new digital media brand, partnered with the festival in showcasing display
screens at the festival venues, strengthening the festival outreach and directing traffic to the venues.
Crystal Gallery, leading manufacturer and processor of exquisite handcrafted crystal products, provided
the trophies for the GFF Awards as well as for the Lifetime Achievement Award, jury and celebrity

Another partner is Flicker Show Productions, a full-fledged video, audio and photography production
facility that undertook photo & video coverage of all aspects of the festival – from the red carpet to the
student workshops. Leo Burnett is the Official Advertising Agency of the festival, driving the GFF 2011
campaign, while Masar Printing Press printed the festival’s collaterals including movie guides, show
guides and a book on Gerard Courant.

The Gulf Film Festival is supported by Dubai Culture & Arts Authority and is held in association with
Dubai Studio City.

Damas outlines plans in Saudi Arabia

“This is start of New Damas in KSA and our direction is clear” - CEO

Jeddah, KSA (April 28, 2011): Damas International Limited (Damas), the largest

jewellery retailer in the Middle East, has yesterday (Wednesday, April 27, 2011)

outlined its new directions and plans for growth in the Kingdom of Saudi Arabia

during an evening event held in Jeddah.

Speaking on the sidelines of the event, Anan Fakhreddin, CEO of Damas

International Limited, said: “We decided that it is now the right time for us to have

full control of our operations in KSA. We have solid plans for this market and our

direction is very clear, as we want consumers to know that this is the start of a

new Damas in the Kingdom”.

“We are improving the quality of our store experience, as our product lines are

being improved and we will be offering world class service that the Damas brand

is renowned for across the broader GCC market. Only a few days ago, we have

also launched a new bridal jewellery festival that is exclusive to Saudi Arabia,” he

The news follows the recent announcement that Damas Jewellery LLC has

acquired 49 per cent of the share capital of its existing joint venture operation

in KSA, Damas Saudi Arabia Company Ltd (Damas KSA). The Damas KSA

stake acquired by Damas was purchased for an undisclosed sum and increases

Damas’ stake in Damas KSA to 98 per cent, bringing the Saudi operation within

the full control of Damas.


Montblanc luxury writing instruments has created “Tribute to Mont Blanc” Collection which not only features

a unique interpretation of the iconic Meisterstück Writing Instrument in snow white but a selection of

jewellery and leather pieces for both men and women. Celebrating the natural beauty of the Mont Blanc, the

collection has been crafted using different stones and materials, reflecting the snow, ice and rocky surfaces

that make up Europe’s snowy summit. Every design detail and the intricate craftsmanship of each piece will

reflect the spirit and magnitude of the Mont Blanc mountain.

Because Montblanc believes in the importance of preserving the natural beauty of this mountain region

for future generations, the sale of the ‘’Tribute to the Mont Blanc’’ Collection will support projects and

organizations that work toward the protection and maintenance of the iconic Mont Blanc range.

Meisterstück Tribute to the Mont Blanc mountain While the ergonomic shape of the original design has

been maintained, the Meisterstück Tribute to the Mont Blanc has been masterfully and dramatically

transformed from its distinctive black to a pure white lacquer paying tribute to the snow of the mountain:

White for eternity. Furthermore, the Montblanc emblem at the top of the cap has been crafted from snow

crystal to reflect the glaciers of the Montblanc Massif and its eternal ice. The platinum plated forefront of

the writing instrument has been delicately engraved with the impressive panorama of the Montblanc Massif,

with each peak named.

The different materials used convey the beauty of the Mont Blanc. For women’s pieces: milky quartz like the

snow-covered summit of the glacier, vibrant blue lace agate like the sky above, translucent rose quartz like

the blossoming of Alpine roses. For men’s collections: stainless steel or platinum featuring intriguing dome-

shaped hard stones in either black onyx or white opaque howlite, adorned with a 0.06ct Montblanc Diamond

on each peak. With this unusual combination, Montblanc marries the boldness of mountain stone with the

luxury of fine diamonds.

The Collection marries classic design with a contemporary twist. Just like the Mont Blanc mountain an

unpredictable force, these pieces reflect the aesthetics of the mountain: they are bold and strong but will

surprise with their unconventional details.

Dubai Culture’s ‘Heritage Week’ celebrations host thousands of visitors

Dubai, UAE; April 28, 2011: The Heritage Week celebrations organised by the Dubai Culture & Arts Authority (Dubai Culture) hosted several thousand visitors including school students who were offered unique glimpses into the rich cultural heritage and traditions of the UAE.

The celebrations under the theme, “Dubai: Live Your Heritage,” held at Al Bastakiya, Dubai Public Library, Dubai Culture & Scientific Association, Dubai Women`s Association, Al Lisaili, Hatta National Arts & Cultural Association, Dubai International Airport and The Dubai Mall, provided tremendous insights into the past splendour of the country and the Emirati way of life.

Saeed Al Nabouda, Acting Director General, Dubai Culture & Arts Authority, said: “Our rich heritage and traditions are a national treasure and an invaluable source of inspiration for the young generation. The Heritage Week celebrations were a true demonstration of the multifaceted splendours and strengths of the Emirati identity. The overwhelming response to the activities highlighted the interest of the public, especially the younger generation, in reconnecting with our Emirati roots.”

Al Bastakiya, the cultural nerve-centre of Dubai, hosted an array of activities including traditional games, costume displays, handicrafts display and cultural performances. Students from an average of three to four schools visited Al Bastakiya daily during Heritage Week in collaboration with the Knowledge and Human Development Authority (KHDA). More than 1,000 students, who visited the heritage site, were briefed extensively on the cultural significance of the activities.

The open air market that showcased traditional Emirati trinkets and artefacts at Al Bastakiya was extremely popular among tourist groups too, several hundred of them touring the site during the week. The activities at Dubai Public Library, Dubai Culture & Scientific Association, Dubai Women`s Association, Al Lisaili, Hatta National Arts & Cultural Association, Dubai International Airport and The Dubai Mall also drew strong attendance.

For literature lovers, the poetry sessions featuring Emirati poets, Rashid Sharar and Alia Alameri “Shojoun Al Dhubyani” provided glimpses into the rich literary heritage of the UAE. Various aspects of the country’s way of life including a live enactment of the old practices of fishing and pearl diving, displayed at The Dubai Mall, were popular among the visitors.

A traditional tent set up at the waiting area of Dubai International Airport Terminal 3 welcomed visitors providing them with information on the customs and heritage of the UAE.

Dubai Culture will roll out several interactive initiatives for the public in the coming months to further highlight the cultural and artistic heritage of the UAE.

Month-long International Workers' Day Festival at DM Labour Accommodation

The Human Resources Department of Dubai Municipality will organize the International
Workers' Day Festival at the Municipality Labour Accommodation in Muhaisina-2.

The month-long festival, which will be held during 1-30 May, includes various cultural
activities and entertainment programmes such as music band, folklore dance performances
and lectures on different subjects.

Khalid Ali Bin Zayed, Director of Human Resources Department said that the Municipality
is keen to organize a festival on the occasion of the International Workers' Day to support
workers, giving them attention and care, and to highlight the significant role played by
various government departments in the promotion and application of social, cultural,
scientific, and religious methodologies and policies.

The ceremony, to be opened by Eng. Hussain Nasser Lootah, Director General of Dubai
Municipality, includes several cultural activities such as a magic show, music and dance
performances, which will continue throughout the month-long festival.

The events also include daily lectures from 5:30 pm until 6:30 pm; educational awareness
programs, religious competitions, cultural, social, religious and recreational activities, as
well as a program to teach Tajweed every weekend, and sports tournaments. The topics of
lectures include "HIV" presented by Dubai Police, "Human Resources Services", "Summer
Diseases/Vaccines", "Food Safety" and "Hygiene Monitoring in Labour Accommodation" and
a number of religious lectures, including "Sincere Work", "Tidiness and Prayer", "charity"
and "Blessed Life."

DHCOG Returns to Profit in 2010

Group records AED 127m net profit; Revenues increase 43%

Dubai-UAE: April 28, 2011 – Dubai Holding Commercial Operations Group LLC

(DHCOG), which has three core business subsidiaries, Jumeirah Group (Jumeirah),

Dubai Properties Group (DPG), and TECOM Investments (TECOM), today announced its

audited financial results for the full year ended December 31, 2010.

Financial Highlights

Total Revenue AED 13.5 billion

Operating Profit AED 6.51 billion

Net Profit AED 1272 million

EBITDA reached AED 7.63billion

DHCOG’s 43% increase in revenues to AED 13.5Bn, up from AED 9.4Bn in 2009, was

driven by the handover of completed projects in the Built to Sell portfolio of Dubai

Properties Group in communities such as Business Bay, and Dubailand. In addition, the

recurring and solid revenue streams achieved by DHCOG’s other subsidiaries were in

line with the previous year’s performances.

EBITDA, for the year was AED 7.6Bn3, a considerable improvement compared to

EBITDA of AED 1.1Bn3 in 2009. DHCOG also improved its operating performance by

achieving an Operating Profit of AED 6.5Bn4 for 2010, against an Operating Loss of

(0.02)3 Bn in 2009. DHCOG achieved a net profit of AED 127m compared with an AED

(23.5) Bn loss in 2009.

Excluding Impairments
Including Impairments
3 The comparison is based on reported 2009 amounts which excludes impairments
4 Operating Profit/loss excluding impairment charges

Jumeirah saw a sizeable improvement in both operating and net profit in 2010. Net

profits increased by 58%, while operating profits increased by 30%.

DPG revenues increased by 175% as a result of an increase in land and property

handovers. The overall occupancy levels increased to an average of 72% following the

launch of new communities such as Shorooq, Ghoorob and Layan. These levels are

almost double than those recorded in 2009.

TECOM’s 2010 revenues of AED 1.8bn, excluding the telecom portfolio revenues, were

mainly driven by its recurring rental income from its business parks, where lease rates

held up strongly in comparison with the wider commercial real estate market in Dubai.

The largest contributors to revenues in 2010 were the business parks, providing 85%

of total revenues, thanks to resilient occupancy rates. In 2010, TECOM’s Emirates

International Telecommunications LLC (EIT) telecom subsidiary produced strong

results. Both Tunisie Telecom and GO delivered substantial dividends to shareholders

with GO achieving higher revenues due to a 36% increase in its TV subscribers. du’s

market share grew significantly to 40%, translating to an increase in revenues of 32%.

Ahmed Bin Byat, Chief Executive Officer of Dubai Holding said: “DHCOG’s strong

performance in 2010 is a result of the turnaround strategy implemented in response

to the changing business environment. This strategy was based on the realignment

of the businesses, focusing on sustainable revenues and core competencies of each

subsidiary, and streamlining operations and cost base”.

“We believe that DHCOG is focused on its core objectives, and its subsidiaries

are all well positioned, each within their key sector, to continue to provide a solid

performance both operationally and financially”.

”We also anticipate the performance of our businesses will respond positively to the

improvement in Dubai’s economic situation. Led by forecasted steady GDP growth

rate, the global rebound in trade driven by the Eastern Markets, a strong oil price and

stability of the country, we expect to see all lines of business perform steadily.”

Future Outlook

In 2011 DHCOG will actively engage with the market, repay its upcoming bond

maturity, and continue to focus on reducing exposure to non-core assets.

Jumeirah’s ambitious global diversification strategy will accelerate with hotels and

resorts forecast to be open or under development in the next two years, with a

minimum of six coming to market in 2011. Meanwhile, additional operational and cost

strategies implemented by TECOM will bring further long term benefits during 2011.

And DPG will continue to leverage its leasing portfolio and deliver further projects in

2011, including the Built to Sell community Remraam, Bay Avenue, a retail destination

at The Executive Towers, The Beach Club at Jumeirah Beach Residence and a further

phase of the Villa project.

DHCOG’s 2010 Consolidated Financial Statements can be downloaded from NASDAQ Dubai

Wednesday, April 27, 2011



Growing vehicle ownership and increasing industrial development are bringing about a sea of change in the global marketplace for lubricating oils and greases. While demand in the developed countries has either slowed down or remained relatively unchanged, the emerging economies are leading the growth surge according to
industry research by Global industry Analysts.

According to the report, the global market for lubricating oils and greases, which includes both commercial
automotive and industrial lubricants, is expected to be 10.5 billion gallons annually by 2015. Growing demand from BRIC countries, Central Asia and Africa is anchoring the increase in the lube market*, which has led to a spurt of interest in the upcoming Automechanika Middle East in Dubai, the region’s premier trade and
networking event for the automotive aftermarket.

“Global suppliers and buyers from around North and East Africa, the countries of the former CIS (Azerbaijan, Kazakhstan, Uzbekistan, Turkmenistan, Kyrgystan and Tajikistan), Iran, Pakistan, India and others are
expressing interest in sourcing out of the UAE, Qatar, Kuwait and Saudi Arabia,” said Mr. Ahmed Pauwels, Chief Executive Officer of organiser Epoc Messe Frankfurt.

“The UAE especially has grown in significance as a major re-exporter and supplier of automotive and industrial lubricants, with reports indicating that the volume of exports has increased by 100 % over the past few years**. Automechanika Middle East is expecting to attract a large part of this growing interest, thanks to its extensive line-up of leading manufacturers and suppliers of lubricants,” Pauwels added.

Mr. Jimmy Horriatt, BG Middle East, exhibitor at Automechanika Middle East 2011, said: “Due to qualities of fuel and lubricants in the Middle East market, the region is an extremely important market to BG.  The opportunity here for growth and maintaining market share for BG products is tremendous.  Brand awareness, the
introduction of new products, attracting new customers from dealerships and supporting our existing regional distributors are amongst our key aims for participating.” The BG products are used by removing and cleaning harmful deposits which solve drivability and problems associated with engine performance, transmission, fuel and air inducation, power steering systems, colling and brake systems. 

Nicolas Scholler, Sales & Business Development Manager Trademarks, Wolf Oil Corporation NV, who has an annual production of 83,000 MT of automotive lubricants, said: “The Middle East represents in our sales a total share of 12% in 2010 and we feel there are strong growth opportunities.  We have been exhibiting at
Automechaniaka Middle East for three years and want to confirm our presence in these markets.  The aim of our participation is to reinforce existing relationships or to meet new potential distributors for countries in this region. We are looking for strong partners interested in a long term relationship.” Wolf Oil Corporation will be
showcasing its two main brands Wolf and Champion and its ESP range of products, which cover the latest
developments in the lubricants industry.

Mr Salvatore Coniglio, Regional Area Manager for German-based company, LIQUI MOLY, commented on their participation at Automechanika Middle East: “We want to increase brand awareness in the region as in the
Middle East we are not as famous as we are in Europe yet. The  Middle East is a prospering region with
fantastic potential. Automechanika is a good opportunity to get in touch with other business people.  For
example, we are looking for an importer in Oman.  We see that car owners’ buying behaviour is changing to
using more and more high quality products.  This is a great opportunity for us because we offer those high
quality products with everything manufactured in Germany.”

During the event LIQUI MOLY will be exhibiting its range of motor oils as well as its revamped car care series which it is introducing for the first time to the region. The entire product portfolio including the car chemical
sector will be on display at the event and LIQUI MOLY will demonstrate how car drivers can reduce their
ecological footprint by using their products.
A recent market trend is that lubricants from the UAE are gaining popularity and market share in the rising
markets around the immediate region and beyond. Today, a significant part of the demand from CIS,
Afghanistan, Pakistan, India, Sri Lanka, Bangladesh and Africa is being fulfilled by UAE suppliers.
Amongst exhibitors featuring at this year’s edition of Automechanika Middle East within the lubricants sector
include: LIQUI MOLY, Wolf Oil, Eurol BV, Lubplus, Lubrex, Lucas Oil, BG Products, Accor Lubrifiants, Axxon Oil, CEPSA and Iyad Odeh Trading LLC to name a few. 

Automechanika Middle East 2011, which will run from June 7th to 9th at the Dubai International Convention and Exhibition Centre, will also feature exhibitors from the tyres & tubes, workshop equipment, batteries, parts &
systems, repair & maintence and accessories & tuning industries. 

* Lubricating Oils and Greases: A Global Strategic Business Report – Global Industry Analysts
**The Lubricants Industry – Dubai Business Pages

Show Profile:
Automechanika Middle East is the leading event for the rapidly developing automotive aftermarket in the wider Middle East and Africa region. In 2010 it featured 1007 exhibitors from 46 countries, with a visitor attendance of 16,058 from 111 countries. The trade fair covers the full range of parts for motor vehicles as well as components for the drive, chassis, body, electrics and electronic groups.  It also covers equipment for vehicle service and repair, bodywork repair and painting, tyres, batteries and performance systems. Automechanika Middle East is the perfect platform to meet new contacts, discuss new trends and technological developments, and to keep up to date with industry knowledge and source new products and solutions from the world over.
The next edition of Automechanika Middle East will be held from June 7 - 9, 2011.

Company profile:
EPOC Messe Frankfurt GmbH is a subsidiary of Messe Frankfurt, Germany’s leading trade fair organiser. With 450 million Euros in sales in 2010* and more than 1,770 employees worldwide, Messe Frankfurt brings 800 years of experience to Dubai, the strategic hub for the region.  The Messe Frankfurt Group has a global network of 28 subsidiaries, five branch offices and 52 international Sales Partners giving it a presence for its customers in more than 150 countries.
The successful portfolio of events of Epoc Messe Frankfurt GmbH in Dubai includes: Intersec trade fair and conference, Materials Handling Middle East, Hardware+Tools Middle East, Garden+Landscaping Middle East, Light Middle East, Beautyworld Middle East, Automechanika Middle East, and now also Paperworld Middle East and Playworld Middle East.
For more information, please visit our website at:
*Preliminary figures for 2010