As well as the current global credit crisis, Dubai has suffered from its own run on liquidity based around the hype surrounding the dropping of the dollar peg.

Rumours of a possible revaluation caused a number of global investors to speculate on the pegs, bringing billions of dollars into the UAE and, in turn, creating an influx of liquidity and allowing banks to lend at very attractive rates, Ali Al Shihabi, CEO of Rasmala Investment Holdings told delegates at the monthly Dubai Property Society meeting.

When the central banks put an end to speculation by issuing repeated denials, these speculators pulled capital from the region. By July the market was suffering from a major lack of liquidity, causing tightening in lending criteria, and by August, the emirate was undergoing its own mini credit crisis.

The global crisis being felt by countries across the world, has further compounded the problem by causing local markets to plummet and regional investors to question local stock - especially the real estate shares that prop up Dubai’s economy.

Repatriation of capital, Though the market is undeniably slowing, witnessed by the falling trend amongst speculators looking to flip off plan properties, there has been no sign of a halt in buying by end users.

If recent past precedent is any guide then Dubai will be a winner from the current global financial crisis. And remember, in big financial shakeouts there are always winners and losers.

After 9/11 - which at the time looked an absolute disaster for inward investment into the Middle East - Arab investors brought an estimated $1 trillion back to the region from America where it was under threat of seizure. It was this money that first powered up the Dubai property boom.

Similarly the invasion of Iraq in 2003 hardly appeared good for regional confidence at the time. But Dubai gained in the aftermath as a safe haven in a troubled region and from the war’s impact on oil prices that fuelled its trading and service economy.

Capital flight this will be a flight of capital to safety and quality. It could well mean that Dubai property prices have another up leg to come, and that the crisis today is no more than a slowdown in the bull market.

In the meantime, if a fall off in cash flow to under-capitalized developers results in a consolidation of the sector, that will be healthy in the long run.

The losers will be the people who cannot afford their installment payments and who were relying on flipping to cash out before payments became due. Over-stretched speculators both among buyers and sellers will go through a painful consolidation period, unless new capital arrives from overseas very quickly.

Given that their financial distress may be very immediate this is where a shakeout is most likely. However, the market for completed property in many locations is severely undersupplied and will not suffer much - prices for villas are still going up, and even in the middle of last week’s crisis, completed properties were selling in Dubai, although at a slower pace than previously.

Highest sales in - Clocks & Watches section

Residents belonging to up to 100 categories will not be given licences. These include nurses, cooks, carpenters, housemaids, watchmen, tailors, cafeteria waiters, unskilled labourers, gardeners and bakers.

People belonging to other categories, which do not require a university degree, will not be able to open a driving licence file at traffic police departments all over UAE.

A Sharjah Police official told Gulf News that the interior ministry has instructed traffic departments last week to stop opening driving licence files for people belonging to about 100 categories as mentioned in their residence visa.

Not a new legislation

“The move is meant to reduce the huge number of vehicles by limiting the number of professionals allowed to obtain driving licences,” the official said.

The official said the decision was implemented last week and many applications from these categories were turned down.

The police official said that this was not a new law as there used to be restrictions on issuing driving licences.

“The law was then relaxed by the ministry and everyone was allowed to obtain driving licences. But due to a massive increase in the number of vehicles, the ministry has decided to restrict issuing driving licences,” he said.

The official said that those whose residence visa shows that they fall under these categories will not be able to open a driving licence file.

A driving school instructor said the school received the decision last week. She said this would affect the schools as many applications will be rejected.

Akmal, an Indian domestic helper who works for a family in Sharjah, said a driving school and the Sharjah traffic department turned down his application.

Akmal’s sponsor told Gulf News that he tried to open a driving licence file for his domestic help, but it was rejected. “I was told that if the profession in the residence visa is driver and that he came to work as a driver then he can obtain a licence, otherwise there is no way for him,” he said.

Fatima is UAE’s first woman marriage registrar
By Samir Salama

The UAE has appointed its first woman marriage registrar, a job hitherto reserved for men.

Fatima Saeed Obaid Al Awani became the first female marriage registrar in the UAE, according to a decision by Abu Dhabi Judiciary Department. Her appointment makes the UAE the second Arab country to have a female marriage registrar after Egypt, which appointed its first female registrar last month.

Many conservative clerics believe Sharia prohibits a woman from becoming a registrar because it states that the testimony of two women is equivalent to one man in court. They believe a marriage contract signed by a woman would be illegal.

More liberal minded clerics believe a marriage registrar is an official who purely plays an administrative role for the state and her signature on the contract does not violate Sharia.

The move to appoint Fatima is in line with instructions by Shaikh Mansour Bin Zayed Al Nahyan, Minister of Presidential Affairs and Chairman of the Abu Dhabi Judicial Department, to engage women in major fields of the UAE’s development.

Fatima graduated from the UAE University in the year 2000 with a Bachelors’ Degree in Sharia and law, and has been in the judicial corps ever since. She thanked the UAE leadership for bestowing the trust upon her.

WE WISH HER GOOD LUCK & SUCCESS

Pakistan — Rescue teams and family members searched frantically for survivors late till midnight, in a string of villages in southwestern Province of Balcochistan in Pakistan where at least 170 people were killed by a powerful earthquake, on Wednesday wee hours.

Thousands of people were left homeless by the predawn temblor in the rural area, where many residents live in mud-brick homes that collapsed with the force of the magnitude 6.4 quake. Authorities said the death toll could rise as rescuers make their way to remote villages that had been cut off by landslides.

Even in good conditions, roads in the area are primitive. Pakistani army helicopters and cargo planes were ferrying in emergency aid, including food, tents and blankets. Medical teams were converging on the scene near the border with Afghanistan, but help arrived too late for some.

President ordered the national and provincial governments as well as the army to swiftly provide all necessary aid. The tremor was yet another challenge for his young government, which is struggling with a flagging economy, repeated clashes with insurgents in the border region, and conflicts with its American allies over U.S. military strikes into Pakistani territory.

The quake, which struck as most people were asleep, was centered about 50 miles northeast of the city of Quetta, the capital of Pakistan’s impoverished Baluchistan province. With the chill of winter setting in, many of the survivors lost everything, including warm clothing, in the rubble of their homes.

The area was rocked by a magnitude 6.2 aftershock Wednesday, terrifying thousands of people who were preparing to spend a freezing night in the open.

In some of the hardest-hit villages in Zirat and Pishin districts, entire families were buried in the ruins of mud-brick compounds, and survivors were digging mass graves, using whatever implements they could find.

The death toll is expected to rise as many bodies may be buried under rubbles when the calamity leveled about 2,000 mud-walled houses in northern part of Balochistan province on Wednesday

We are working under banner of NGO dedicated for Baluchistan

The Iqbal Foundation

We are asking for relief goods and donations in shape of material, we do not need cash we need material & men power, we need trucks to transport goods, dry food, grain, warm clothing, tents, drinking water, clothing for children & women.

Please contact us 24/7

Cell number +92 300 2008238

emailto: ahmediqbalbaloch@hotmail.com

Overseas contributors Send your donations to :

Iqbal Foundation.
Account number. 0031-01006865,
Bank Alfalah Ltd, Clifton Branch
SWIFT Code. ALFHPKKA
Karachi - Pakistan

Dubai Airports has finished operational testing of the new Terminal 3 at the International airport. It means that Emirates’ airlines operations can now start to be phased into the new terminal, starting 14 October. The terminal will be opened in four phases to ensure that systems and processes are all in place and tested.

Etisalat reduces IP Connect fees

UAE telecoms provider Etisalat has announced that it will reduce its IP Connect fees by up to 70% in a bid to increase the service’s popularity. The move, applicable from October 1, includes the introduction of possible annual contracts and monthly rather than quarterly billing.

The Dubai Financial Market on Tuesday lost 182.64 points, or 5.14%, to close on 3,369. Among the day’s big losers were Arabtec, down 12.09%, and Tamweel, which dipped 10.48%. The Abu Dhabi Securities Exchange also fell sharply, down 162.87 points, or 4.58%, to end the day on 3,395.
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For third consecutive post-Eid session, Gulf bourses continued to post heavy losses after pressure from the international crisis and selling by foreign portfolios. Despite international markets closing up yesterday, local markets refused to follow same pattern. Muscat was the biggest loser going down 7.2% followed by Tadawul 7%, Dubai 5.1%, ADX 4.5%, Kuwait 2.7%, Doha 1.5% while Bahrain lost the least, only going down by 1.5%.

Intercon - Festival City Dubai

There is nothing particularly special about the lobby design except for the warm atmosphere, but registration is done fast so you won’t spend much time there.

Elegant design
Contrary to that, rooms in the Intercontinental have a very elegant design with a combination of wooden, white and brown colours that complement the atmosphere given by the Creek view and the skyline outside.

Beds are made of light brown leather, facing a 42′ plasma TV screen, with CD, DVD and VCD connections. A dark brown round table is located to the right of the bed, designed to be used for dining and office use as well.

Loved the bathroom, which is almost half the size of the room. It includes a splash area and a wet zone incorporating a shower and free standing bathtub, with a large window in the middle of the wall, opening to the Creek and Marina walk.

Intercontinental club room that enabled us access to free internet, buffet breakfast and afternoon drinks and snacks between 6:00pm and 8:00pm in the club lounge located on the 26th floor. Free access to high speed broadband internet is also available in the room and in all public areas in the hotel as well.

Spread over 36 floors, the hotel contains 498 rooms, 121 suites, 3 presidential suites and a royal suite. All rooms have a waterfront view of Dubai Creek or the Festival Marina.

Multi-ethnic menu
Dining in is a multi-ethnic food experience. The all-day dining Anise is a 950sqm restaurant designed by Super Potato, with live cooking stations around the restaurant offering a wide variety of international meals.

Sushi lovers will have a date with the Japanese Edamame, which offers also traditional dishes including the Sashimi, Teppanyaki, Robatayaki, and Tempura.

Also, for an Arabic experience there is the Al Sultan Brahim Beirut, one of the most highly recognised sea food restaurants in Lebanon. Operating for the first time in Dubai, Al Sultan Brahim offers a variety of seafood on display, where the guests can choose their preferred kinds of fish and other foods to be cooked for them.

And if you’re looking for a relaxing evening, head towards The Eclipse Bar on the 26th floor, to enjoy the view of the harbour and city skyline over a soothing drink.

Spa indulgence
Spa Intercontinental is a luxury that you don’t want to miss. The spa atmosphere emits warmth from the moment you get in. Upon arrival, the receptionist will lead you to the waiting area where you will enjoy ginger and lemon tea, before the treatment starts.

The spa has 10 treatment rooms, in addition to a VIP spa with a private sauna and steam shower. Also available are two VIP massage rooms for couples.

Try - Jasmine Rosewood Body Pack, a two-phase body treatment that embraces scrubbing the body with a lemon detoxifier, after which the body is massaged by a mixture of creamy jasmine, rosewood and mango butter.

You can also go for more focused treatments such as the facial therapies that use the high-profile Natura Bisee products, the hand and foot care, or the one and a half hour massage therapies. Rates for these therapies vary according to the products used and duration, but it starts at Dhs200 and goes up to Dhs950.

Relaxation, however, doesn’t stop here as guests have the choice of visiting the 25 meter swimming pool overlooking Creek, a sun terrace and leisure garden, the gym, and a temperature controlled outdoor spa pool.

Business travellers will benefit from a meeting space of 3,800 sqm Event Centre across two levels of the hotel. The hotel is also prepared to provide additional meeting space that can be divided into eight break-out rooms catering to smaller VIP board meetings, up to a reception style banquet catering up to 1,800 guests

How you look at life is a matter of choice. Say hello to positive living with these steps

An increasing number of people in the UAE are seeking advice from certified hypnotherapists to get to the bottom of many problems such as negative thoughts and feelings.

Hypnosis - believed to have been around for thousands of years - refers to a state of focused consciousness. It is described as a process where one can hear what is happening but may not want to move, leaving one in a highly suggestible state.

You can be guided into this state by a hypnotherapist who will also give you “hypnotic suggestions”.

Safiya and M.R. Hussain, a married couple who run the Orators’ Forum Institute for Human Development and Behavioural Therapy in Dubai, say such suggestions enable people to make desired changes in their life.

Hussain said some of the most widespread reasons for negative thoughts in the UAE are related to events that have caused psychological traumas, marital problems, addictions and low self-esteem.

“Hypnosis is such a normal state of mind most people usually don’t even realise they are hypnotised,” Hussain said.
“Normal, everyday hypnosis occurs when you are driving and lose track of time or when you are focusing on a book or TV programme and you don’t notice something that is going on around you.”

Eliminate negative thoughts and feelings and replace them with positive thinking by following these simple steps recommended by Safiya and Hussain:

Step 1
Try to see every problem as a challenge, and an opportunity to improve yourself. Remember, only you are capable of changing yourself, not anyone else.

The outside world will be what it is, so try to see it through a positive lens as much as you can.

Step 2
Have a contagious enthusiasm — it not only means you generate positive energy but also acquire a positive mental attitude.

Move in the company of positive-minded people. Try to stick to the changes you make.

Find out the real cause of your negative feelings and thoughts through hypnotherapy and cognitive behavioural therapy, which can help you forgive at a subconscious level.

Step 3
A positive mental attitude will automatically raise your self-esteem and self-confidence, which equip you with the skills necessary to better your life.

“When you have a positive mental attitude, your physiology changes. You walk three inches taller. You will project a better image and speak with astounding impact,” Hussain said.

Step 4
Each time you leave your house — whether it is to work or to go on a trip — remember to take your positive attitude with you (along with your cellphone and laptop, of course).

Avoid those who display negative energy, as they can hold you back or drain you. If that happens, try to identify them to either help or just accept the way such people are.

Step 5

Try to stop using words such as “don’t”, “but”, “if” and “why”.

Replace these words with positive words such as “remember”, “and”, “when” and “what if”.

When you are at home, separate rooms for various self-reflection purposes such as worry, self-development and hypno-coaching.

Causes in the UAE

The most common reasons that make people in the UAE experience negative emotions are:

* Shyness caused by low self-esteem. This results in inferiority complex, social phobia and fear of public speaking.
* Sexual dysfunction.
* Marital problems.
* Poor self-image, caused by obesity or anorexia, among other reasons
* Addictions such as smoking and alcoholism.
* Compulsions – OCD (Obsessive Compulsive Disorder) and/or Perfectionism.
* Feelings of anger and hatred. Jealousy, resentment, revenge, criticism or being judgmental or fearing being judged, fear, doubt or superstition.
* Psychological trauma such as childhood abuse.
* Anxiety, in the form of poor concentration, test anxiety and examination phobia.

Avoid them

Pent-up negative emotions are believed to cause conditions such as cancer, diabetes, high blood pressure and arthritis. Here are other traits that can affect, too:

* Not having a pleasing personality.
* Lack of self-discipline.
* Lacking enthusiasm.
* Not learning from defeat or failure.
* Not maintaining good health.
* Inability to control bad habits.
* Procrastination.
* Blaming others.
* Not having motives or goals.
* Stress.

Healthy steps
Control your life better by following these simple guidelines:

* Have a daily exercise routine.
* Practise self-hypnosis regularly.
* Flush out negative thought patterns from your subconscious.
* Use positive language patterns
* Feed your subconscious with positive affirmations.