Archive for the ‘Business’ Category

posted by JasperC on Feb 22

Dubai: The Land Department has witnessed a decline in the number of valuation requests for projects in the emirate, citing evidence of stability in the real estate market.

The department’s Real Estate Valuation Committee said yesterday it valued 1,971 properties in 2011, clocking in at a value of Dh99 billion — 63 per cent of which were for undeveloped plots of land and 37 per cent for finished buildings.

"In the last two years we used to receive up to 3,000 requests as the market was going through a restructuring and correction process. However, the number is less this year as the market is showing a kind of stability," said Mohammad Khodr Al Dah, head of the Real Estate Appraisal Centre.

Dubai’s Land Department is the only authorised body to evaluate property or land in the emirate, meaning developers or owners have to go to the appraisal centre for valuation in the case of property disputes, sales or other transactions.

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© 2011 Gulf News (www.gulfnews.com)

posted by JasperC on Feb 22

Dubai:  His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, in his capacity as the Ruler of Dubai, on Sunday issued a decree forming the Higher Organising Committee for the World Expo 2020 which is to be hosted by Dubai.

The decree appoints Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation and Chairman and Chief Executive of Emirates airline and Group, as chairman of the committee, and Mohammad Ebrahim Al Shaibani, director-general of the Dubai Ruler’s Court, as deputy chairman.

As per the decree, Reem Ebrahim Al Hashemi, minister of state, has been appointed managing director of the committee. Members of the committee include Ahmad Abdullah Al Shaikh, director-general of the Dubai Government Media Office, and Hilal Saeed Al Merri, chief executive of the Dubai World Trade Centre.

Mandate

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© 2011 Gulf News (www.gulfnews.com)

posted by JasperC on Feb 21

Marc Weinreich has pulled for the Knicks so long that his childhood bedroom was painted blue and orange. Now he owns a 42-inch high-definition flat-screen television in his Manhattan apartment and wants to watch a team worth watching for the first time in his adult life.

While Jason Lin has reignited interest in the New York Knicks, more than two million cable customers have been unable to watch the action on television. Ben Cohen on Lunch Break explains how some fans are tracking Linsanity the old fashioned way.

But with Jeremy Lin setting the Knicks on fire, Weinreich has reluctantly followed along the old-fashioned way: He’s been listening on the radio.

“It’s like we’re back in old times,” said Weinreich, a 29-year-old Columbia graduate student who streams the ESPN 1050 audio feed through his laptop. “The nostalgia aspect is nice, but it wears off quickly.”

Weinreich is one of more than two million Time Warner Cable Inc. customers without Madison Square Garden Co.’s MSG sports network since Jan. 1. The contract dispute has sent countless New Yorkers searching for inventive ways to track Linsanity in real time.

Getty Images

More than two million Time Warner Cable customers have been without MSG sports network—and most Knicks game TV broadcasts—since Jan. 1.

For many, that means prowling the Internet for live streams. Others seek out sports bars. And some have scrambled to find the Knicks’ radio network. Ratings for WEPN over the first three weeks of January—Lin’s breakout performance came Feb. 4—were already up 6% from 2011 among men between ages 25 and 54, according to Arbitron Inc. Radio data for February won’t be released until March.

Associated Press

Patrons gather in a bar near Madison Square Garden as the New York Knicks play on Feb. 8.

ESPN New York’s website, which hosts the radio feed, received 2.8 million page views Wednesday, beating the Monday after the Super Bowl. The Knicks’ win over the Lakers on Feb. 10 was the most-streamed game of the season on ESPN3.com, per numbers provided by ESPN. “We expect to see a nice boost in the numbers when they come in,” said David Roberts, the station’s general manager.

Norm Scott, a 66-year-old retired teacher, was working in his Rockaway Beach home Tuesday night when he pulled out his transistor radio. In the late 1960s, Scott used to tune in for Marv Albert’s broadcasts, though he alternates between NPR and WFAN these days. “I go from Joe Benigno to Brian Lehrer,” he said.

He has four TVs—including a 46-inch Internet TV and a 37-inch screen in what he called a “mini man cave”—but still prefers a transistor radio and his pair of half-broken headphones. In the game’s last minute, intrigued with the Knicks mounting a comeback, Scott unplugged his headphones to hear the call clearly. For at least one night, Lin had conjured the franchise’s glory days.

“Marv Albert was so unbelievable on the radio that you didn’t need a TV,” Scott said.

Spero Dedes grew up in New Jersey devoted to Mike Breen’s broadcasts of Knicks games. Now the first-year radio voice of the Knicks, Dedes also fills in for Breen on MSG. He said more people recently have stopped him on the street and told him on Twitter that they’re especially dependent on his radio calls. “It would’ve been exciting under normal circumstances, but you add Lin, and it’s taken the whole thing to a different level,” Dedes said.

On Wednesday evening, without MSG at home in Rochester, N.Y., Jeremy Buffone pulled up the ESPN 1050 link on his laptop. The 26-year-old actuary couldn’t recall another time he chose to listen to a Knicks game when he wasn’t stuck in a car. “I definitely miss Clyde’s voice,” he said, referring to MSG analyst Walt Frazier. “But in the meantime, you’ve gotta do what you’ve gotta do.”

Calvin Reid couldn’t help but notice the absurdity of his own dilemma. It was halftime of the Knicks’ win over the Sacramento Kings Wednesday night, and instead of marveling at Lin on his 40-inch TV, Reid had connected his radio to stereo speakers while his wife, Jody Culkin, kept up on her iPhone. The television occasionally flashed delayed highlights from Madison Square Garden.

“Here I am, surrounded by sophisticated media of all types, paying out the wazoo so I can get cable, and what am I doing?” said Reid, a 60-year-old Publishers Weekly editor. “I’m listening to the Knicks on the radio like I was 12 years old.”

Later that evening, they visited a Lower East Side bar to watch the fourth quarter of the most recent Knicks win.

Joe Caporoso was actually playing hoops in his men’s league Tuesday when he spotted a radio in the corner of the gym. He scanned for ESPN 1050 reception and kept the Knicks game on in the background until the fourth quarter, when he and his friends huddled around the radio to experience Lin’s game-winning three. “I don’t have a car anymore, and that was really the only time I listened to the radio,” said Caporoso, 24, who works in digital advertising in Manhattan. “When he hit the buzzer-beater, everyone was going crazy, like the Knicks were going to the NBA finals.”

Lin had a similar effect on local radio at Harvard. The AM/FM airwaves remain a reliable way to track Ivy League sports, and Harvard senior Scott Reed, who broadcasted Lin’s games as a play-by-play analyst and color commentator, recalled student-run WHRB expanding its audience during Lin’s college career.

New Yorkers have been dusting off their radios since MSG went dark on Time Warner Cable four games into the Knicks’ season. The network and cable operator have since disputed the rate Time Warner Cable will pay to carry MSG. “While it’s not a substitute for watching the games, our hope is that they can either go out to a bar or listen to the radio to keep updated,” said Time Warner Cable spokesperson Maureen Huff.

Time Warner Cable subscribers can occasionally catch their hometown team on national television. The Knicks’ Sunday matchup with the Mavericks will be carried by ABC, while YES Network will air their rematch with the Nets on Sunday and TNT has their Thursday trip to Miami.

But MSG still owns the vast majority of broadcasts, and ratings for Knicks games are up more than 130% from this time last season, even without Time Warner Cable viewers. MSG has also hosted more than 30 viewing parties at locations across the state, including a dim sum restaurant in Chinatown this week, a spokesman said.

Weinreich went so far as calling Time Warner Cable in January and again in February to find out when he might see the Knicks without scouring for a signal, stream or sports bar. Until then, he’s embracing the airwaves. He doesn’t have much choice.

“For better or worse, it leaves a lot to the imagination,” Weinreich said. “But I can’t see why I’d listen to the radio when I could be watching in HD.”

© 2011 Wall Street Journal (www.wsj.com)

posted by JasperC on Feb 19

It’s no secret that the current state of global markets is extremely challenging for investors. Equity markets remain volatile and bond yields are low, which is bad news for anybody who is looking for a steady flow of income that meets their investment objectives. The fact that global monetary policy is largely uncoordinated and asymmetric is not helping the situation.

The bottom line is that it is very difficult to predict with any confidence which way the markets will turn next, meaning that any investor whose portfolio is highly concentrated in one or two asset classes is effectively gambling heavily on certain outcomes playing out.

The challenge is how to diversify a portfolio in a way that enhances risk-adjusted returns, and which will also provide some protection against shocks such as unexpected inflation. The good news is that there are a number of alternative investments that meet these criteria; the not-so-good news is that allocating to them may mean you have to venture outside your comfort zone.

Appetite for illiquidity

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© 2011 Gulf News (www.gulfnews.com)

posted by JasperC on Feb 17

This summer, droves of school-age children will attend summer camp, where they will paddle canoes, play tennis and make crafts from paste and yarn. Others, will go to finance camp, where they will take excursions to a local bank or delve into budgeting and investing simulations. Rather than singing around the campfire, they will chant personal-finance mantras like these sung at Camp Millionaire in Santa Barbara, Calif.: “Financial freedom is your choice” and “Assets feed you, liabilities eat you.”

[illustration]
Ed Koren

In the past, business and finance camps attracted high-achieving high-school students. Now, with the country’s uncertain economy, financial education is expanding to an unlikely audience — younger kids, even grade-school students. They are also reaching out to those from diverse economic backgrounds. And the lessons are surprisingly sophisticated, teaching campers how to rebalance portfolios, invest in real estate and use credit cards without getting dinged on fees.

At Camp Millionaire, campers in five days create a minieconomy based around “moola” — mock currency that features a cow’s portrait — which kids use to spend, invest in stocks and compete with each other. They also use the fake currency to pay their “bills,” running around and depositing moola in large envelopes with labels like “phone bill” and “credit card bill.” Parents spend the real moola to send their kids to the weeklong session, which ranges from $279 to $300. Scholarships are available, based on financial need.

“Adults underestimate kids’ abilities. Investing — they’ll get it and be interested in it,” says counselor Pamela Capalad.

[chart]

Andrew Adams, of Santa Barbara, attended the camp twice, once when he was 10 years old and again two years later. “He was coming home with words like ‘adversely affect your credit score,’ ” says his mother, Denice Adams.

Andrew pointed out to his mother that her credit-card billing cycle had changed, and that she wasn’t keeping up with payments. Her delays were racking up late fees, jacking up her interest rate and hurting her credit score. After considering her non-discretionary household expenses (his words), Andrew also pronounced that the mortgage on their Santa Barbara home was too high for her income. Now 15 years old, Andrew has launched his own small travel business and is a financial-news junkie.

Gauging Risk

At YoungBiz’s Smart Start to Money Camp in Sarasota, Fla., campers ages 13 to 18 are asked to toss a ball into a bucket, earning more points the farther away they stand. It aims to teach kids about risk tolerance and lead them into a discussion about stocks and asset allocation. How far away from the bucket they’re willing to stand might tell them something about their investing style.

Bonding Over Banking

[Front Lines]

Girls only? Read about finance camps for girls, and join a discussion on WSJ.com’s Front Lines.

Campers pay $100 to $300 for the three-day session, in which they form teams and compete to create the best portfolio. In 2001, during one of the first camps, one camper pleaded with his teammates to buy stock in a then-risky company, eBay. His peers lobbied for safer bets, like utility companies. After a fiery debate, the team passed on eBay but agreed on an alternative stock allocation. They won the competition because counselors were so impressed with their cooperation.

Camp Challenge, a joint effort between the North Carolina Bankers Association and 4-H, mixes financial education in the morning with traditional activities, such as horseback riding or swimming, in the afternoon. For $350, kids 10 to 14 years old learn the basics of everyday finance using the FDIC’s Money Smart curriculum.

[photo]
Robin Diamond

Federal Reserve Chairman Ben Bernanke with campers from Camp Challenge.

Camp Challenge is also part of the America’s Promise Alliance, a business and nonprofit cooperative that works to reach students at risk of drug abuse or dropping out, for example. The weeklong overnight camp in Westfield, N.C., has drawn the attention of Federal Reserve Chairman Ben Bernanke and former Secretary of State Colin Powell, who have been known to mingle with campers when they’re in the area.

In Denver, the Young Americans Center for Financial Education takes a macroeconomic approach to financial education.

Creating a Ghost Town

In weeklong sessions that cost $185, fourth- and fifth-graders take part in large-scale simulations of the economy of a small town. Campers apply for jobs. They create business plans for 17 different businesses, patronize others along Main Street and even buy health insurance. (It costs two AmeriDollars.) One year, the counselors had a camp of savers, and AmeriTowne turned into a ghost town when the kids refused to spend any money. The incident sparked a fruitful discussion about free enterprise. Counselors asked campers to imagine what would happen to AmeriTowne’s Main Street if no one spent any money in the long term. The grim consequences of an inactive economy soon became apparent, especially when they realized that they, too, were business owners.

Global Economics

The fifth- and sixth-graders take the minitown approach and bump it up a notch to the International Towne. It is like a model United Nations with a robust focus on trade, currencies and deficits. They’re thrown questions about environmental protection and sustainability. When counselors asked campers to write down how they would cope with limited water resources on the planet, they ran out of paper.

“They really run the world at the end of the week,” former banker C.J. Juleff, vice president of programming for the camp, said.

Write to Mary Pilon at mary.pilon@wsj.com

Printed in The Wall Street Journal, page D1

© 2011 Wall Street Journal (www.wsj.com)

posted by JasperC on Feb 17

Abu Dhabi The Abu Dhabi National Energy Company (Taqa) said Tuesday its provisional net profit declined 26 per cent on year in 2011 to Dh752 million.

"The decline in total assets and net profit was partially due to a one-off impairment charge at Taqa North, following the annual revaluation of Taqa’s portfolio," the company said in a statement.

In addition, profits were affected by additional taxes on UK oil and gas producing companies which came into effect last March 24. Income tax expense for the UK was Dh1.588 billion higher in 2011, compared with 2010, said Taqa.

However, Taqa recorded a strong top line performance with a 14 per cent increase in revenues due to higher oil prices, plus growth in its power and water portfolio.

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© 2011 Gulf News (www.gulfnews.com)

posted by JasperC on Feb 17

Milan: Italy has slid back into recession after the economy shrank 0.7 per cent in the fourth quarter following stringent budget cuts aimed at stabilising the public finances, official data showed yesterday.

The economy contracted 0.2 per cent in the third quarter and a recession is normally defined as two consecutive quarters of economic contraction. Figures from the Istat data agency showed overall growth of 0.4 per cent for 2011.

Repeat of 2009

Italy’s last recession was during the global financial crisis in 2009.

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© 2011 Gulf News (www.gulfnews.com)

posted by JasperC on Feb 17

LONDON—British authorities investigating potential cases of journalists paying bribes for information arrested another round of high-ranking employees of News Corp.‘s tabloid The Sun, and said they are now probing suspected payments not just to police but to other public officials.

The arrests deepen News Corp.’s problems in a high-profile scandal involving illicit reporting tactics. While the scandal began at the company’s now-closed News of the World tabloid, its spread to the Sun threatens to tarnish the biggest-selling newspaper in News Corp.’s stable. With a daily circulation of about 2.7 million, the Sun is the most widely read newspaper in Britain and among the biggest globally.

London’s Metropolitan Police said officers arrested eight people early Saturday morning on suspicion of corruption, including a serving police officer, an employee of the Ministry of Defence and a serving member of the armed forces.

Late Saturday, police said the eight arrested individuals had been released without charge on bail, pending further inquiries.

The other five arrested are Sun employees. They include deputy editor Geoff Webster, chief reporter John Kay, chief foreign correspondent Nick Parker, picture editor John Edwards and John Sturgis, a member of the news desk.

The men couldn’t immediately be reached for comment.

“I’m as shocked as anyone by today’s arrests but am determined to lead the Sun through these difficult times’” said Dominic Mohan, editor of the Sun, in a statement. “I have a brilliant staff and we have a duty to serve our readers and will continue to do that. Our focus is on putting out Monday’s newspaper.”

The arrests follow an earlier round two weeks ago, when police arrested four current and former Sun employees and a police officer. The men were later released on bail without charge.

News Corp. owns The Wall Street Journal.

News Corp. Chairman Rupert Murdoch, meanwhile, is set to arrive in London later this week. According to a person familiar with the matter, Mr. Murdoch plans to assure the Sun’s staff that he neither plans to close nor sell the paper. This person said plans to launch a Sunday version of the title continue.

In an email Saturday to his staff, Tom Mockridge, chief executive of News International, News Corp.’s U.K. newspaper unit, said: “You should know that I have had a personal assurance today from Rupert Murdoch about his total commitment to continue to own and publish The Sun newspaper.”

He said Mr. Monhan “is committed to leading the paper through this difficult period and, while today’s arrests are shocking, we need to support him and his team to serve the loyal readers of The Sun and produce a great paper for Monday.”

In a sign that News Corp. may view the arrests as excessive, Mr. Mockridge added that he had “today written to the Independent Police Complaints Commission to seek clarification from them about the process of independent oversight of the police investigation.”

The bribery investigation is one of three under way into alleged illegal reporting tactics. The others are focusing on interception of voice-mail messages and emails, also known as phone hacking and computer hacking.

In their statement Saturday, police said the remit of their bribery investigation has widened to include suspected corruption by both police officers and other public officials.

Arrested Saturday were a 39-year-old male police officer for the suburban county of Surrey; a 39-year-old woman working for the Ministry of Defence; and a 36-year-old man in the armed forces, police said.

A spokeswoman for the Ministry of Defence declined to comment on the arrests. Surrey Police couldn’t immediately be reached to comment.

All of the eight arrested are being questioned at police stations in and around London, and their home addresses are being searched. Police said they are also searching the offices of News International, News Corp.’s U.K. newspaper unit.

Revelations of widespread phone hacking at the News of the World last summer forced News Corp. to close the tabloid and to pay millions of pounds to settle civil lawsuits filed by phone hacking victims.

Even as civil suits are resolved, however, possible criminal cases still loom. U.K. authorities have arrested about 30 people in connection with the probes, including former Sun and News of the World editors and reporters. No one has been charged.

Last summer, News Corp. established what it calls an autonomous committee to liaise with police and provide any documents requested by investigators. The Management and Standards Committee is also conducting its own investigation into News International’s three remaining newspapers—the Sun, the Times of London, and the Sunday Times.

In its statement, News Corp. said the Management and Standards Committee provided police with the information that lead to Saturday’s arrests.

“News Corporation remains committed to ensuring that unacceptable news gathering practices by individuals in the past will not be repeated,” the statement said.

The bribery investigation began last year, after a lawyer hired by News Corp. to assist with an internal investigation reviewed emails sent by News of the World employees and said he found “blindingly obvious” evidence of “corrupt payments” to police. The company then passed these emails to police.

In 2003, Rebekah Brooks, a former editor of the News of the World and the Sun, told a parliamentary committee: “We have paid the police for information in the past.” She later backtracked from the assertion, and, asked about it last summer at another parliamentary hearing, said: “I can say that I have never paid a policeman myself; I have never knowingly sanctioned a payment to a police officer.”

Speaking before a parliamentary committee last summer, Mr. Murdoch said: “Let me be clear in saying: Invading people’s privacy by listening to their voice mail is wrong; paying police officers for information is wrong. They are inconsistent with our codes of conduct and neither has any place in any part of the company that I run.”

The new focus on The Sun, however, is likely to intensify criticism, of News Corp.

In a statement, legislator Tom Watson, a vocal critic of News Corp. who sits on a parliamentary committee investigating phone hacking, said the arrests “show this is no longer only about phone-hacking. It goes to the very heart of corporate governance of the company led by Rupert Murdoch.”

Write to Jeanne Whalen at jeanne.whalen@wsj.com

© 2011 Wall Street Journal (www.wsj.com)

posted by JasperC on Feb 17


Wed Feb 15, 2012 9:13pm EST

* “Rombo” ad from Santorum blasts Romney’s “attack machine”

* Santorum leads poll ahead of Feb. 28 Michigan primary

* Both are seeking Republican U.S. presidential nomination

(Adds Romney quotes)

By Samuel P. Jacobs

DETROIT, Feb 15 (Reuters) – After weeks of skirmishes,
the two leading Republican U.S. presidential candidates are
locked in their biggest head-to-head battle in Michigan – one
that tests Mitt Romney’s status as the favorite in the race and
Rick Santorum’s ability to go beyond an insurgent campaign.

Romney and Santorum have launched negative ads against each
other in the big Midwestern state, home to the nation’s auto
industry, which holds its primary on Feb. 28.

Romney, the former Massachusetts governor and private equity
executive, needs to win the primary to dispel doubts about the
viability of his White House bid.

Romney’s opposition to the U.S. government bailout of
Michigan automakers in 2009 may come back to haunt him as
Santorum rises in polls following his sweep of the Feb. 7
contests in Colorado, Minnesota and Missouri.

Santorum, a former U.S. senator from Pennsylvania, has taken
a risk by choosing Michigan as a battleground to take on Romney,
who has family ties to Michigan and a strong organization in the
economically distressed state.

But a poll of 450 likely Michigan Republican primary voters
released on Tuesday found Santorum leading Romney 34 percent to
25 percent in the state. According to the Mitchell/Rosetta Stone
Poll, Santorum is outpacing Romney in Michigan among voters who
identify themselves as members of the conservative Tea Party
movement, evangelical Christians and the “very conservative.”

Nationwide, the former underdog Santorum now leads Romney in
polls of Republican voters by several percentage points.

The Republican candidates are waging a state-by-state battle
to win the party’s nomination to challenge President Barack
Obama, a Democrat, in the Nov. 6 U.S. general election.

Santorum is braced to come under a heavy barrage of attacks
from Romney, whose negative ads helped destroy opponent Newt
Gingrich’s efforts earlier in the campaign in Iowa and Florida.

‘ROMBO’ COMMERCIAL

Trying to preempt Romney’s assault, Santorum on Wednesday
released his own negative ad, which accuses his rival of
slinging mud at fellow Republicans.

“Mitt Romney’s negative attack machine is back. On full
throttle. This time Romney’s firing his mud at Rick Santorum,”
says the ad, entitled “Rombo” and running in Michigan as well as
online. The ad shows a man who looks like Romney firing mud from
a gun in a disused factory at a moving target of Santorum.

It is an attempt to lessen the harm from a pro-Romney group,
Restore Our Future, that has bought $640,000 in airtime in
Michigan so far to paint Santorum as a Washington insider who
favored big federal spending during his time in the Senate.

“Santorum voted to raise the debt limit five times and for
billions in wasteful projects,” the pro-Romney ad says.

The Romney campaign also accused Santorum of being “big
labor’s favorite senator.”

Romney spoke on Wednesday in Grand Rapids in a part of the
state that is likely to favor Santorum, a social conservative.

Romney explained his opposition to President Barack
Obama’s $81 billion auto rescue plan – a bailout plan that was
popular in Michigan. “Here in Michigan, the president finally
came around to my own view that Detroit needed to go through
managed bankruptcy, the auto companies needed to go through
managed bankruptcy to shed their excess costs,” he said.

A new survey by the Democratic-affiliated Public Policy
Polling organization showed Obama with a double-digit percentage
lead nationally over any of the Republican candidates, with the
president leading Romney by 16 percentage points and Santorum by
11 percentage points.

Conversely, Santorum on Thursday will address the Detroit
Economic Club, a bastion of the kind of pro-business Republicans
who back Romney, the former Bain Capital executive.

Santorum also opposed Obama’s $81 billion auto bailout but
was less vocal than Romney, who described the car company rescue
as “crony capitalism” in an op-ed piece in The Detroit News this
week.

TARGETING SANTORUM

Addding to the sense that Santorum’s rise is no mere fad,
senior Obama campaign adviser David Axelrod targeted Santorum
during an appearance on the CBS program “This Morning.”

“I don’t think the average working person in this country is
going to look at his policies and say, ‘Yeah, that’s the ticket
for me,’” Axelrod said.

In the past week, Santorum’s views on the role of women in
the workplace and in the military have landed him in hot water.

Romney was born in Michigan. His father, George Romney, was
governor from 1963 to 1969. Although Romney now has homes in New
Hampshire, Massachusetts and California, he will claim Michigan
as home, at least for the next two weeks.

Santorum has stressed his Pennsylvania background and strong
religious faith as the right fit for many of Michigan’s
working-class voters. Around one-third of Michigan voters are
Roman Catholic like him.

As the insurgent candidate, Santorum lacks the money and
organization that Romney possesses.

Michigan officials and party activists said they doubt
Santorum’s rise in the state will last until primary day.

“I don’t see the infrastructure in place. I don’t see them
doing what they need to do to win,” said Bill Nowling, a former
communications director for the Michigan Republican Party.

A victory for either man could prove a crucial launching pad
for their campaigns heading into “Super Tuesday,” March 6, when
10 states hold nominating contests.

Both Santorum and Romney will hit Obama hard for the
weakness of Michigan’s economy. But many in the state see signs
of growth, including a dropping unemployment rate and an
unexpected $457 million surplus for the state’s budget.

Even a decent second-place finish could be work for
Santorum, who long lingered near the bottom of the Republican
pack for much of the campaign. On Tuesday, he said in Idaho he
hopes to “finish a good, strong second” in Michigan.

(Additional reporting by Susan Heavey in Washington; Editing by
Alistair Bell and Todd Eastham)

© 2011 REUTERS (www.reuters.com)

posted by JasperC on Feb 16

The majority of business visitors to Dubai will at some point find themselves at the Dubai World Trade Centre for one of the many international exhibitions being held there. For those exhibiting at these events, stress levels can be high and after a long day of walking, talking and networking, it is essential to have a comfortable place to stay. Rezidor’s recently launched Radisson Royal hotel is a new property offering just that.

Located almost directly adjacent to the World Trade Centre and no more than ten minutes from Dubai international Financial Centre, for someone visiting Dubai for business, the Radisson Royal couldn’t be in a better spot.

First impressions

Rezidor took over the property, previously the JAL hotel, in July this year and has aimed it towards the more luxurious market. A Japanese theme runs through the hotel, something which instills a pleasant, calming atmosphere from the moment a guest walks through the door. As you’d expect in any Dubai property, customer relations are excellent. Helpful desk staff give a warm welcome and any request is met with the maximum assistance possible.

Hotel rooms

To say the rooms are spacious would be a disservice. The suites in particular are bigger than the average one bedroom apartment and for a business person staying in Dubai for a week, offer everything needed to create a comfortable space away from the hustle and bustle of a business trip. A huge bathroom, walk in closet, two widescreen TVs and a large desk all contribute significantly to the rooms feeling like a luxury home rather than those darkened, cramped rooms more associated with travelling abroad for work.

Hotel dining

The gem in the hotel’s dining options is undoubtedly the Japanese themed Icho Restaurant. It is located over three floors at the top of the building. No matter where diners sit they are treated to outstanding views. The lowest floor offers regular seated dining. The second floor offers visitors the chance sit around live cooking stations and watch their food being cooked in front of them. The top floor hosts a DJ on the weekends and has a lively atmosphere. The food itself is exquisite with the Wagyu beef a particular highlight.

Health and fitness facilities

The hotel’s health and fitness facilities are immaculate. The spa offers a supremely relaxed environment, giving visitors the impression they are thousands of miles away from the exhibition halls over the road. The pool area, although overlooking one of the less glamorous parts of Dubai at the back of the hotel, is still well laid out and brilliantly staffed. The pool snacks are varied and tasty enough to keep visitors by the pool when they feel hungry. The gym, as you would expect from a brand new hotel, is full of the latest equipment. Several treadmills and cross trainers mean the wait for equipment to become free is either nonexistent or short. Trainers are on standby in the gym to give assistance where needed.

Conclusions

The best compliment a hotel situated so close to the business centre of Dubai could be given is that it’s relaxing atmosphere lets visitors believe they are in a far off resort, away from the troubles of exhibitions, meetings and sales pitches. This is something which can definitely be said of the Radisson Royal. It has a perfect location for a businessman visiting Dubai, and once inside a perfect environment to relax and escape.

© 2011 AMEINFO (www.ameinfo.com)