The Latest news from Select Property http://www.selectproperty.com/ http://www.selectproperty.com/invest/ras-al-khaimah/investment-property/ras-al-khaimah-news/rak-bank-reports-increase-in-net-profit-for-first-half-of-2008-1666 The National Bank of Ras Al Khaimah (RAK Bank) has reported a net profit of Dh311.62 million for the first half of 2008, which is 71 per cent higher than the same period in 2007. Net interest income at Dh402 million increased by 60 per cent compared with June 2007, as a result of growth in the small business, commercial loans, mortgage finance and credit card portfolios, the Bank’s statement said. The personal banking portfolio continued to grow during the quarter in line with targeted expansion, while the mortgage loan portfolio saw a rise of 18 per cent since the end of 2007. "The bank continues to invest in product development, technology and other delivery channels and remains in the forefront of emiritisation in the banking industry," the statement said. Ras Al Khaimah Investment Property Ras Al Khaimah Property News http://www.selectproperty.com/invest/turkey/investment-property/turkey-news/tourists-flock-to-turkey-in-june1665 Tourism is a key source of income for Turkey so the latest figures showing an increase in tourists to the country will be a boost for the Turkish economy. The Tourism Ministry has announced that the number of foreign visitors to Turkey rose 19.17 percent in June to 3.31 million compared to last year. Germany sent the highest number of tourists to Turkey in June, followed by Russia. The Mediterranean resort city of Antalya was the top destination for Turkey tourists, drawing 38.79 percent of all foreign arrivals. Turkey's largest city Istanbul was the second most popular destination, attracting 20.23 percent of foreign visitors. Turkey Investment Property Turkey Property News http://www.selectproperty.com/invest/turkey/investment-property/turkey-news/key-role-in-cruise-tourism-for-turkey1664 Cruise travellers bored with typical Caribbean cruises have turned their eyes to Black Sea and eastern Mediterranean voyages, creating a recent trend in cruise tourism that may prove a great benefit to Turkey . Turkey's geographical position is highly important. Istanbul could play a key role in cruise tourism in the Black Sea. Many prominent cruise companies in the world have already chosen Turkey's major port city Istanbul as a homeport. Ports could also be built in Ýzmir and in the popular Aegean resort towns Kuþadasý and Didim to capitalise on the trend. The annual average number of cruise travellers from the United States to Turkey is about 11 million, while the annual average number of those from Europe is about three million. The target audience in cruise tourism is mostly middle-aged tourists from upper income groups with disposable income to spend. Turkey Investment Property Turkey Property News http://www.selectproperty.com/invest/turkey/investment-property/turkey-news/turkeys-top-500-firms-record-profit-1663 Turkey's largest companies yielded higher profits last year while decreasing costs, a recent survey has revealed. The Istanbul Chamber of Industry has announced the 2007 results of its traditional "Istanbul Chamber of Industry Top 500 Industrial Enterprises" survey, the equivalent of the Fortune 500 for Turkey . As in previous years, the Turkish Petroleum Refineries Corporation held onto its place as Turkey's largest industrial enterprise with YTL 18.5 billion in production based sales. Ford Automotive came second with YTL 6.2 billion in sales and was followed by the state-owned electricity producer EUAS, which recorded YTL 4.6 billion. The largest 500 companies enjoyed 49.8 percent of all of Turkey's production-based sales during the year. In 2007, 143 companies among the top 500 were either owned by foreign investors or had a foreign investor as a partner. Turkey Investment Property Turkey Property News http://www.selectproperty.com/invest/dubai/investment-property/dubai-news/dubai-tourist-visas-for-all-nationalities1662 At present visitors to Dubai , who are nationals of a select 33 countries including Britain, the United States and Australia, are provided visas upon entry. Other nationalities wishing to visit Dubai have to apply for a visit visa which requires a deposit. However with effect from July 29th tourist visas will be open to all nationalities when a range of new federal visa rules come into force. The announcement that tourist visas would be available to all nationalities was well received by travel industry representatives. The Director-General of Dubai Tourism and Commerce Marketing (DTCM), expected the new guidelines for the tourism visa would provide a boost in visitor numbers to the country. Dubai Investment Property Dubai Property News http://www.selectproperty.com/invest/dubai/investment-property/dubai-news/residential-rents-increase-by-22-in-dubai--1661 Annual residential rents in Dubai have jumped by 22 percent. This has been as a direct result of continuing undersupply compared to growing demand from UAE nationals and expatriates. Another key factor affecting rents was land values. On an average, Dubai's land prices have grown by nearly 50 per cent since the second quarter of 2007. With the economic boom in the region and the increasing number of tourists attracted to Dubai this trend looks set to continue. Dubai Investment Property Dubai Property News http://www.selectproperty.com/invest/dubai/investment-property/dubai-news/dubai-enhances-trade-opportunities-with-european-countries-at-trade-forum-1660 Dubai Export Development Corporation (DEDC), the Dubai government body charged with promoting exports from the Emirate, has attended the first trade forum between ministry and government officials from the Gulf Cooperation Council and European Union countries to promote cooperation between GCC and EU member countries. The Chief Executive Officer of the Dubai Export Development Corporation presented a paper to the forum outlining Dubai’s emerging manufacturing and export sectors, the opportunities available for Dubai businesses to export to EU countries and the range of potential opportunities available for EU organisations to invest in the UAE. He said, “There are significant trade opportunities available to European investors that will allow them to expand their industrial performance in Dubai. Likewise, the Dubai Government, through the Dubai Export Development Corporation, is providing support to manufacturing and industrial sectors to expand their markets and export to other markets such as the European Union.” Dubai Investment Property Dubai Property News http://www.selectproperty.com/invest/ras-al-khaimah/investment-property/ras-al-khaimah-news/rak-e-government-authority-signs-for-technology-solutions1659 RAK e- Government Authority has signed an agreement with Majal, the ICT arm of the Government of Ras Al Khaimah , for the provision of Customer Relationship Management solutions and integration of RAK e-Government Authority contact centre’s. CRM technology will help the RAK Government deliver exceptional and efficient customer services. The system will provide a more responsive and personalized approach in government services delivery. The contact centre’s will be converted to state of the art centre’s and will enable the RAK- e-Government Authority to deliver sustainable and superior service to the end users of the RAK e- Government portal and the general public. With the new e-Government drive the Ras Al Khaimah government is hoping to maximize productivity, improve customer service and attract investments to the emirate. Ras Al Khaimah Investment Property Ras Al Khaimah Property News http://www.selectproperty.com/invest/ras-al-khaimah/investment-property/ras-al-khaimah-news/sports-leadership-program-launches-in-the-uae-1658 The Hamdan Bin Mohammed Program for Sports Leadership Development has announced that it has received an overwhelming number of applications following the successful launching of its online registration drive in the UAE. Dubai generated the most number of applications with 111 while Ras Al Khaimah had 36 candidates. The Hamdan Bin Mohammed Program for Sports Leadership Development has been established to focus on developing a comprehensive sports management program for the UAE, and to ensure continuous development of sports in the UAE. It aims to attract potential national leaders in sports, who will be trained to manage and lead the sports development program of the UAE. Ras Al Khaimah Investment Property Ras Al Khaimah Property News http://www.selectproperty.com/invest/turkey/investment-property/turkey-news/turkey-well-placed-to-win-seat-on-un-security-council-1657 Turkey , which is attempting to secure a two-year term on the UN Security Council, appears to be well placed to succeed in its bid, according to a foreign policy expert. The election for the temporary seat on the UN Security Council will be held in October. Turkey has been working intensively to win support from countries around the world since it declared candidacy for the UN seat in 2003 and has so far received support from many countries. These countries have already exceeded the minimum number of 128. Turkish Foreign Minister Ali Babacan is currently in New York to lobby for Turkey's bid where he is scheduled to meet top UN officials and representatives of UN countries. Turkey Investment Property Turkey Property News http://www.selectproperty.com/invest/turkey/investment-property/turkey-news/odien-invest-in-turkeys-ihlas-mining1656 Odien Asset Management will invest $90 million in Turkey's Ihlas Mining for an 18 percent stake in the company. Odien Asset Management has offices in Istanbul and Prague and invests in companies mainly in central and Eastern Europe. Ihlas Holding operates in the mining, media, real estate, health and education sectors in Turkey . Turkey Investment Property Turkey Property News http://www.selectproperty.com/invest/turkey/investment-property/turkey-news/turkeys-pipeline-eligible-for-mediterranean-union-funding1655 Turkey's Calik Holding is seeking French backing for a pipeline to carry oil, gas and water from Turkey to Israel. Calik has approached the Union for the Mediterranean, led by the French, to finance the feasibility study of the multi-purpose pipeline. Calik executives met the French President’s special envoy at the Mediterranean Union summit held on July 13th, and sought investment funds from the union for the project. The project, known as MedStream, was well received by French officials and the prospective feasibility study was found eligible for funding. A final decision will be made following a September meeting to be attended by ministers of the European Union and Mediterranean countries. Turkey and Israel plan to start building the 5 billion Euro pipeline in 2009 to transport Caspian natural gas and oil, water and electricity under the Mediterranean Sea. Turkey Investment Property Turkey Property News http://www.selectproperty.com/invest/dubai/investment-property/dubai-news/dubai-fashion-fiesta-2008-1654 Dubai Fashion Fiesta, one of the most eagerly awaited annual fashion events in Dubai and a Main Event in Dubai Summer Surprises 2008, is all set for a glitzy opening this Thursday, July 24th. Fashion celebrities, well-known models, and trend-setting international designers are due to gather for the four-day event. There will be 11 designers and fashion labels who will present their collections on the runway. The Dubai Fashion Fiesta was launched to bring together designers, buyers, and fashion enthusiasts, and is expected to attract wide media attention due to the inclusion of high profile participants. The long term aim of the fashion extravaganza is to contribute in promoting Dubai as a fashion hub in the region. Dubai Investment Property Dubai Property News http://www.selectproperty.com/invest/dubai/investment-property/dubai-news/dubai-roads-and-transport-authority-promotes-water-transport1653 The Roads & Transport Authority in Dubai has received a visiting delegation of 30 students of various educational levels as part of the authorities’ efforts to promote the culture of water transport in the emirate of Dubai. The visiting delegation was received by the Water Transport Service Promotion Team, and the Operation & Performance Department at the RTA Marine Agency. The aim was to show community members the importance of water transport and marine mass transit services. The Agency is seeking to introduce students of various age groups in Dubai to Waterbus services as they are poised to play an important future role in Dubai. Dubai Investment Property Dubai Property News http://www.selectproperty.com/invest/dubai/investment-property/dubai-news/british-airways-dubai-flights-move-to-terminal-5-in-october-1652 British Airways, which currently operates 21 flights per week from the UAE to London Heathrow, has agreed to move the third and final phase of British Airways' remaining long-haul flights into Terminal 5 on October 22nd, 2008. The 14 flights a week from Dubai International Airport will move on this date. British Airways is currently operating 75 per cent of its operation out of Terminal 5, which has been performing well over the past few months. The final long-haul moves are planned for after the busy summer period. The remaining flights that move on October 22, 2008 will make the airline's transition to Terminal 5 complete. Dubai Investment Property Dubai Property News