Dubai Travel Guide

A Nigerian firm, Sifax Group of Companies, is discussing with Dubai Ports Authority, on the establishment of a modern port complex in Lagos.

Managing Director of Sifax Group, Dr Taiwo Afolabi, told newsmen in Lagos that the Dubai authority had shown great enthusiasm in the proposed venture. Afolabi said the port would on completion, be the first direct response of an indigenous company to the Federal Government�s call for development of green fields, to decongest existing ports.

Afolabi expressed regrets that lack of space, slow cargo delivery and government’s inability to establish new ports were major causes of the present congestion at the ports.
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Dubai’s economy will grow at about 2.5 per cent in 2009 in spite of global recessionary trends, a senior Dubai Government official said yesterday.

Raed Safadi, Chief Economist of the Dubai Government, termed a possible 2.5 per cent growth in 2009 a “conservative estimate”. This compares to about eight per cent growth in 2008.

“We have revised downward our forecast since October. This is because we have accepted that we are not immune to the global financial crisis. And we are open to sharing our records,” he said. Safadi said Dubai continues to lay emphasis on retaining human capital, saying net visas issued by the emirate per day in January averaged about 1,000.
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India was among the top trade partners of Dubai in gold business in 2008, according to the Dubai Multi Commodities Centre.

Total gold trade through Dubai reached a record $29 billion in 2008, an increase of 53 per cent compared to $19 billion
in the previous year, the Dubai Multi Commodities Centre (DMCC) said in a statement on Monday.

More than 100 countries served as gold import partners into Dubai in 2008, led by the United Kingdom and India. During the same period, Dubai exported gold to a record 64 nations, with India and Switzerland topping the list of export partners, DMCC said.

In 2008, a total of 674 tonnes of gold was imported into Dubai, up 21 per cent compared to 559 tonnes in 2007. During the year, gold exports from Dubai reached 371 tonnes, an increase of 29 per cent compared to 287 tonnes in the previous year, it said.
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