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August 2007
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TimeOut Abu Dhabi
August 2007

Construction Week
August 2007

Arabian Business Arabic
August 2007

Arabian Business English
August 2007
 
Analysis of The Month
August opened with ArabianBusiness.com's World Exclusive of traversing to the top of the world's tallest building - the Burj Dubai. In a stunning photographic pull-out, we revealed what it would like to be 'On Top of the World'.

ArabianBusiness.com went from sky-bound to space-bound by interviewing entrepreneur extraordinaire, Richard Branson, about his battle to save his billion dollar space tourism dream in 'Space Dust'. Another prime story for the month was 'Still fancy a bite', where Arabian Business investigated the truth behind the Middle East's multi-billion dollar genetically-modified industry.

Catwalk star and billionaire heiress Invanka Trump, property tycoon Donald's daughter, was quizzed in 'Daddy's Girl' about how she is taking the first steps towards building her own property empire.

Sixty years after the independence of India and Pakistan, ArabianBusiness.com also surveyed India's rise in India: colour, chaos and contradiction and both countries' booming $36 billion dollar bilateral trade with the Gulf.

Some of our top stories this month included Fire breaks out at Dubai's Jebel Ali port - Dubai World downplays gambling link, Saudi bans Al-Hayat newspaper, Dubai brings in long term rent deals and Contractors back out of Mall of Arabia deal.

The increasing importance of the Islamic Finance once again came under ArabianBusiness.com's eye with 'Banking on Piety'.

As global markets became embroiled in turmoil from the US sub-prime crises, ArabianBusiness.com closed the month with a look at 'Stock Horror/Global Market Mayhem'.

ArabianBusiness.com Editor-in-Chief James Bennett aired his views in August in 'Dubai heads for a new stock home' about Borse Dubai's transatlantic ambitions.
August in Quotes
1.31 pm. We arrive at our final destination - floor 141 - and step out of the cage into the light and an incredibly fresh breeze. Gone is the feeling of a hair dryer permanently blowing in your face. A staggering panorama of the entire city comes into view.

ArabianBusiness.com climbs to the top of the Burj Dubai, the world's tallest building, to be ‘On Top of the World.'
August's Special Reports
India and Pakistan: 60 years of Independence
Politics & Economics

Timeline
2007 Aug 1
Two Lebanese soldiers were killed in heavy fighting with al-Qaida-inspired militants holed up in a Palestinian refugee camp in northern Lebanon.

2007 Aug 2
In Yemen security forces fired tear gas and water cannons at former soldiers protesting in Aden demanding to be allowed back in the military.

2007 Aug 4
A roadside bomb targeting an Iraqi Army convoy killed one civilian and wounded five others at a busy intersection in central Baghdad.

2007 Aug 4
Two Palestinians were killed and six wounded in an Israeli air strike on two vehicles near the southern Gaza Strip's border with Egypt.

2007 Aug 4
Yousef Megahed (21) of Egypt and Ahmed Mohamed (24) of Kuwait, students from the Univ. of South Florida, were arrested following a speeding stop in the vicinity of the Naval Weapons Station, located in Goose Creek, South Carolina. Pipe bombs were found in their vehicle. They were later indicted for carrying explosives across state lines.

2007 Aug 5
Iran showed off for the first time a new fighter jet said to be modeled on the American F-5 but built using domestic technology. The "Azarakhsh" (Lightning) jet, one of the first to be home-produced by Iran, made a successful flight in the central city of Isfahan.

2007 Aug 5
Army and police patrols stood guard as thousands of Lebanese went to polling stations to vote in a key election to replace two assassinated lawmakers.

2007 Aug 5
An official said Turkey's secular military expelled 10 officers for being "reactionary," a euphemism for Islamist activities, along with 13 others accused of lack of discipline.

2007 Aug 6
Iran's leading reformist newspaper was shut down for the second time in a year after publishing an interview with a poet who called for greater gender equality.

2007 Aug 6
Lebanon's government said that police have killed Abu Hureira, the deputy commander of al-Qaida inspired militants. He was killed a few days ago by police in the northern port city of Tripoli, near the Nahr el-Bared refugee camp where Fatah Islam militants have been fighting Lebanese soldiers for more than two months.

2007 Aug 7
Administers in Vienna said that the mid-Pacific nation of Palau has ratified the Comprehensive Nuclear Test Ban Treaty, bringing to 139 the number of countries that have fully endorsed the pact. The treaty, which bans all nuclear explosions, will not enter into force until it has been ratified by 44 states listed in an annex that participated in a 1996 disarmament conference and have nuclear power or research reactors. Only 34 of the 44 countries have both signed and ratified the pact. The holdouts are China, Colombia, Egypt, India, Indonesia, Iran, Israel, Pakistan, North Korea and the United States.

2007 Aug 8
Iraqi PM Nouri al-Maliki arrived in Iran for talks expected to focus on bilateral relations and overcoming "terrorism challenges."

2007 Aug 8
It was reported that Dubai's power and water demands are rising by an average of 20% and 15% respectively each year and that the state-owned utilities were having difficulty providing for the increasing demand.

2007 Aug 11
Iran's state-run news network said Iran and Iraq have signed an agreement to build pipelines for the transfer of Iraqi crude oil and oil products.

2007 Aug 11
It was reported that citizen's in 5 of Egypt's 26 governorates have been suffering a dire shortage of drinking water.

2007 Aug 12
In southeast Turkey 12 were injured, three of them seriously, when Kurdish guerrillas detonated a roadside bomb.

2007 Aug 12
In Mansoura, Egypt, Mohamed Mamdouh Abdel-Aziz (12) died days after he was arrested and allegedly tortured by police after he was detained on suspicion of having stolen four packs of tea.

2007 Aug 13
US troops in Iraq launched a major assault against Al-Qaeda-linked militants and alleged Iranian-aided extremist groups as a Sunni leader accused Iran of plotting genocide against his people.

2007 Aug 15
State radio reported that Iran has detained two Chinese nationals on charges of spying on its military and nuclear facilities. A drug crackdown was launched throughout Iran and police seized more than 54 kilos (118 pounds) of heroin and crack from the gang in airports in Tehran and several other cities. In the operation 90 members of a drug network, including 85 Africans from Tanzania, Nigeria and Ghana as well as two Pakistanis, were arrested.

2007 Aug 17
Borse Dubai made a $3.95 billion takeover bid for OMX AB, challenging US-based Nasdaq Stock Market Inc. for ownership of the Stockholm-based Nordic stock exchange operator.

2007 Aug 17
Saudi King Abdullah ordered two aid packages worth 20 million dollars each be dispatched to Sudan and Mauritania to help the impoverished African countries hit by severe floods.

2007 Aug 18
In northern Lebanon gunbattles with Islamic extremists in a Palestinian refugee camp left one soldier dead. Another died of wounds the next day.

2007 Aug 20
Iraq's embattled PM Nouri al-Maliki came to Syria on his first visit here as prime minister amid efforts to garner neighbors' support for curbing violence at home.

2007 Aug 20
In Turkey Foreign Minister Abdullah Gul won most votes in the first round of a presidential election, but did not secure the two-thirds majority needed in parliament for an outright win.

2007 Aug 20
In Egypt 4 terror suspects were convicted by a security court and sentenced to life in prison for their involvement in 3 attacks that killed two French tourists and an American in April, 2005. Five other suspects, including two women, received jail sentences that ranged from one to 10 years in prison.

2007 Aug 21
The board of MGM Mirage approved a deal with Dubai World in which the holding company for the Persian Gulf state will eventually acquire a 9.5% stake and 50% ownership in the Las Vegas CityCenter project.

2007 Aug 22
US Army Major John Cockerham, his wife and sister were indicted in a suspected scheme to accept millions of dollars in bribes for Defense Department contracts in Iraq and Kuwait.

2007 Aug 23
State-run TV reported that Iran has developed a new 2,000-pound "smart" bomb, the latest in a recent series of announcements heralding new weapons systems.

2007 Aug 23
A cluster bomb left over from last year's Hezbollah-Israel war exploded in southern Lebanon, killing a Lebanese mine-clearing expert and wounding three others who were trying to dismantle it.

2007 Aug 24
In Jordan former Iraqi President Abdel-Rahman Aref (91), overthrown more than 35 years ago in a coup that brought Saddam Hussein's Baath party to power, died in Amman.

2007 Aug 24
A deal was reached with Islamic extremists holed up in a Palestinian refugee camp in northern Lebanon to allow their families to leave the besieged area.

2007 Aug 24
Turkish Foreign Minister Abdullah Gul failed to win enough votes in the second round of a presidential election, but is expected to clinch the post next week. A clash between troops and Kurdish rebels near Turkey's southeast border with Iraq left 10 rebels and two soldiers dead.

2007 Aug 26
Iran vowed to use a new 2,000-pound "smart" bomb against its enemies and unveiled mass production of the new weapon.

2007 Aug 27
Israel's Haaretz newspaper reported that security officials fear Hamas' exiled leadership in Syria is working to renew suicide attacks against Israel in an effort to derail peace efforts by Israel and Palestinian President Mahmoud Abbas.

2007 Aug 28
Journalists and diplomats said Saudi Arabia has banned the influential Arab newspaper Al Hayat from distribution in the kingdom, just days after it reported a Saudi man had served as a key figure for an al-Qaida front group in Iraq.

2007 Aug 28
Turkey's Foreign Minister Abdullah Gul (56), a devout Muslim with a background in political Islam, won the presidency, in a major triumph for the Islamic-rooted government after months of confrontation with the secular establishment.

2007 Aug 30
The UN nuclear agency said that Iran was producing less nuclear fuel than expected and praised Tehran for "a significant step forward" in explaining past atomic actions that have raised suspicions.

2007 Aug 30
Turkish legislators said that American weapons have been turning up in the hands of Kurdish guerrillas staging attacks in Turkey.

2007 Aug 31
Turkey's PM Erdogan laid out a policy vision for the next five years that focuses on pursuing EU membership and defending the state's secular and democratic principles.
August 2007
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Comments (6)

Fundamental errors
Posted by James, Dubai, UAE on 26 January 2008 at 12:49 UAE time

Try - sent the US dollar to a 17 year LOW, not high. And the Ruppee is worth far MORE than it was 12 months ago.

By the way being proud of the chaos that ensued following your stroy on the dollar depeg is nothing to be proud of, if that what your implying happened.

HSBC and other major banks were profiteering in the aftermath buying dollars at 3.40 and selling at 3.69? Best of both worlds for them? Or just covering themselves? But a disaster for everyday businesses and people who were stuck with dollars and debts in dirhams... all on the back of mere speculation - go the market economy?!?. The banking industry - along with Arabian Business should be ashamed.
Review 2007
Posted by N. A. Mirza, Jeddah, Saudi Arabia on 31 December 2007 at 17:39 UAE time

Looks sound and indeed worth preserving. December Timeline should have stories on the most peaceful and accident free Haj, BJP's history-making victory in India's western state of Gujrat and above all assassination of Benazir Bhutto. An analysis on King Abdullah's sincere peace efforts was a must.

Editor's reply: December's timeline will be updated with the happenings of the last two weeks of December shortly.
BEST AND WORST NEWS OF 2007!
Posted by RAJENDRA ANEJA, DUBAI, UAE on 27 December 2007 at 11:50 UAE time

Best news:

1. Some peace in Iraq and refugee return.
2. More focus on climate
3. Dialogue between Bush, Putin
4. No war with Iran
5. Talks between Israel, Palesine
6. Shakira going to study at a university


Worst news:

1. Continuation of world poverty
2. No cure for Aids, cancer
3. Human rights violations and beating of monk in Burma
4. Inflation across the word, including Gulf.
5. Instability in India, Pakistan.
6. I have not become a movie-star (the pay is better, than that in management).
REVIEW 2007: PROFITS AND SOUL
Posted by RAJENDRA ANEJA, DUBAI, UAE on 26 December 2007 at 17:04 UAE time

The review writtn by Mr James Bennett, is sound, pithy and covers all key issues. Congratulations for this excellent encapsulation.

I hope 2008, will be a more enlightened year for the Gulf and for all of us. Let us hope, we realise that money is important, but without good HR practices, there can be no profits in the long run.

And as the Bible preaches, "What does it profit a man to gain the whole world, at the loss of his own soul."
Brilliant
Posted by Frank Dane, Dubai, United Arab Emirates on 26 December 2007 at 11:26 UAE time

That is one of the best Year in Reviews I have seen. Really polished - especially on the later months - October to December. I love it. Thank you - another great reference site, and hugely entertaining as well.
Pressure mounts on last female minister to quit
Posted by Adam, Kuwait, Kuwait on 25 December 2007 at 08:53 UAE time

The Kuwait government needs to get a life.. The men in parliament cannot handle a women minister. I admire her and for what she is doing and putting all these silly men to shame.. Wake up guys...
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