Dubai growth

Dubai boosts GCC’s emergence as a prominent region in the global financial industry “…With its rapid growth as a financial centre, Dubai is boosting the emergence of the Gulf Cooperation Council (GCC) region as a prominent centre of activity in the global financial industry, according to a study undertaken by UK-based global research organisation Chatham House… The study titled ‘The Gulf as a Global Financial Centre: Growing Opportunities and International Influence’ examines the prospects for the economies of the Gulf Cooperation Council (GCC) countries and the potential development of the region as a Global Financial Centre…”

The Dubai Mall unveils retail world's most sophisticated multimedia systems
“…The Dubai Mall, one of the world's largest shopping and entertainment destinations, has unveiled the retail world's most sophisticated multimedia systems ever installed in a shopping mall. Building on the premise of assuring total 'shopper-tainment', visitors are taken on a visual journey as a combination of dynamic and static images are displayed throughout the mall in a colourful array of shapes, sizes and formats… A key feature of the integrated multimedia network is the ability to capture 'moments of exclusivity' - a single image projected across the entire mall that will ensure total visitor attention. These moments could include displays of live shark feeds to brand launches telecast across the entire network to provide mall-wide entertainment to visitors simultaneously… Displays notable for their size and visual impact include a full 20m x 10m high-definition LED display overlooking the Olympic-sized Dubai Ice Rink, a fully retractable LED-clad catwalk in Fashion Avenue and the 22m wide Treasury Dome in the world's largest indoor Gold Souk capable of projecting images similar to a planetarium format…”

Balfour Beatty boosted by Dubai growth
“…Balfour Beatty, the UK's biggest infrastructure firm, has reported a 25pc leap in first-half profits due to "spectacular growth in Dubai"… The company, which is building the world's largest shopping centre in Dubai's Burj tower, reported pre-tax profits of £95m in the six months to the end of June, up from £76m in the same period last year. The order book also increased to £12.2bn, up 14pc from last year… Chief executive Ian Tyler said he was confident a series of projects for the London 2012 Olympics, including the building of the flagship aquatics centre, will help the company through the economic downturn…”

Balfour Net Rises 77% on U.S. Military, Dubai Orders
“… Balfour Beatty Plc, Britain's biggest builder, said first-half profit rose 77 percent as a U.S. acquisition boosted military housing orders and it won civil engineering and maintenance contracts in Dubai... Net income advanced to 106 million pounds ($201 million), or 23.9 pence a share, from 60 million pounds, or 13.9 pence, a year earlier, the London-based company said today in a statement. Revenue gained 32 percent to 3.79 billion pounds… Balfour plans to tap rising demand for public infrastructure and maintenance work to offset a possible commercial construction slowdown in the U.S. and Europe. The builder receives 80 percent of its sales from state or government-regulated industries such as water and power, limiting the effect of an economic slowdown, Chief Executive Officer Ian Tyler said today in an interview…”

Dubai airport posts robust traffic
“…Dubai International Airport has witnessed the busiest period in its history with 18.46 million passengers - more than 3.5 times Dubai's population - travelling through in the first half of 2008 alone, a 13.8 per cent growth from the first half of 2007… In 2007, Dubai International was already the world's fastest growing airport with 34.34 million passengers… In the first half of this year, the airport handled an average of three million passengers a month, or 100,000 every day, Dubai International said in an e-mailed statement…”