Business: Dubai World comes to China quake victims' aid

Dubai World comes to China quake victims' aid company donation to help rescue, rehabilitation efforts

Dubai, United Arab Emirates (BUSINESS WIRE) - Dubai World, in line with its commitment to the welfare of the society it operates in, has joined the international business community's response to the recent earthquake in China by making a financial contribution towards rescue and rehabilitation efforts in the affected areas.

Over the past six weeks, Dubai World moved to help relieve the suffering of those impacted by the tragedy. The holding company, which has a strong presence in China,?made the contribution through its subsidiaries DP World, Limitless and Istithmar World.

Realising the magnitude of the tragedy, Dubai World immediately joined the massive international effort to support the victims. The donations were made mainly via Qingdao Civil Administration and Qingdao Charity Association.

Sultan Ahmed bin Sulayem, Dubai World Chairman, said: "The donation is an expression of our heartfelt concern for the victims of this natural calamity. As a company that runs operations all over the world, Dubai World pursues a policy of supporting the communities in which it operates. We contribute to their economic growth and we also share their anguish at times when tragedies such as this strike.

"China is one of Dubai's biggest trading partners and one of Dubai World's strongest investment bases. Our partnership with China goes beyond economic interests."

Istithmar World, the investment arm of Dubai World, is active in China through its private equity and alternative investments division Istithmar World Capital. Limitless, the global development arm of Dubai World, sees China as a strategic market and has offices in Shanghai.

Dubai World also operates five marine terminals through its marine terminal operator DP World. The Qingdao terminal is one of DP World's 13 new developments worldwide. The Qingdao port complements DP World's presence in the Bohai Basin ports of Tianjin and Yantai. DP World also has interests in logistics businesses, notably ATL in Hong Kong- the market's leading logistics operator.

Dubai and China enjoy close trade ties, which have been increasing steadily over the past five years. According to Dubai World Statistics Department studies, bilateral trade soared to a 47% high in 2007. The figures showed an increase in non-oil trade between the two countries from AED48.4 billion (around $13.18 billion) in 2006 to AED71.2 billion (around $19.4 billion) in 2007.

Source: ME-NewsWire on behalf of Dubai World.

About Dubai World:

Dubai World is Dubai's global investment flag bearer focusing on four strategic growth areas: Transport & Logistics, Drydocks & Maritime, Urban Development and Investment & Financial Services. Its portfolio comprises some of the world's best known companies, including DP World, Drydocks World & Dubai Maritime City, Economic Zones World, Nakheel, Leisurecorp, Dubai World Africa and Istithmar World.

Dubai World's strategy is driven by a combination of pragmatic acquisitions and prudent investments and its corporate philosophy is based on strong fundamentals, best ethical practices and integrity.

Dubai World Sana Maadad, +97148080321
Sana.maadad@dubaiworld.ae

Dubai World launches Chinese Website

Dubai, (ANTARA News/PRNewswire-AsiaNet) - Dubai World, one of the world's largest holding companies, announced today the launch of its Chinese website in connection with the visit of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to China.

The website (www.dubaiworldchina.cn) in Mandarin language provides comprehensive details on the group and its subsidiary companies.

The launch of the Chinese version of the website is aimed at presenting Dubai World to the Chinese people, giving them a clear picture of the group's vast and diverse investment interests.

A high level delegation of business leaders, including HE Sultan Ahmed bin Sulayem, Chairman of Dubai World, is accompanying Sheikh Mohammed on the visit.

The timely launch of the website indicates the significance of China to Dubai World, and the company's commitment to the world's fastest growing economy. Recent figures released by Dubai World's Statistics Centre showed that non-oil trade between the two countries increased from AED 48.4 billion (around $13.18 billion) in 2006 to AED 71.2 billion (around $19.4 billion) in 2007.

Mr. Sultan Ahmed bin Sulayem, Chairman of Dubai World, commenting on the visit, said: "This visit will further enhance the cooperation and economic ties and the existing strong relations between the UAE and China and will help build long-term business commitments."

"The UAE and China are strategic trade partners. Dubai, the largest market for Chinese exports in the Middle East, is the Commercial Gateway to the region. For Dubai World, which is one of the major UAE investors in China, the Chinese market represents an important investment destination; especially that China's economy is forecast to grow at an annual average rate of 8% from 2006 to 2010."

Farid Mohammed Ahmed, Secretary General, Dubai World, said that the launch of the Chinese website highlights the importance of Sheikh Mohammed's visit.

"The visit to China by Sheikh Mohammed is an important event for Dubai World since we have major investment focus on that country. DP World, the global marine terminal operator, has its projects in China. Istithmar, Tejari, and Limitless, also, have presence there and are looking to expand operations.

"China is a huge market with immense investment potential. The country is also one of the biggest trade partners of Dubai. Sheikh Mohammed's visit will add new vigour to the bilateral relations between the two countries."

DP World currently operates five marine terminals in China - ACT and CT3 in Hong Kong, DP World Yantai, Qianwan Container Terminal and Tianjin Orient Container Terminals. CT3 was rated the best terminal in the under 4 million TEU (twenty foot equivalent container units) category in the Asia Freight & Supply Chain Award in 2007.

DP World also has interests in logistics businesses, notably ATL in Hong Kong, which is the market leading logistics operator. DP World is investing significantly in China; Phase VI at Qingdao is one of the most important of its 13 new developments worldwide.

China's economy is fast growing, and a crucial factor in its continued growth is the country's port infrastructure. The Qingdao port complements DP World's existing presence in the Bohai Basin ports of Tianjin and Yantai.

About Dubai World:

Dubai World is Dubai's global investment flag bearer focusing on four strategic growth areas: Transport & Logistics, Drydocks & Maritime, Urban Development and Investment & Financial Services.

Its portfolio comprises some of the world's best known companies, including DP World, Drydocks World & Dubai Maritime City, Economic Zones World, Nakheel, Leisurecorp, Dubai World Africa and Istithmar World.

Dubai World's strategy is driven by a combination of pragmatic acquisitions and prudent investments and its corporate philosophy is based on strong fundamentals, best ethical practices and integrity.

SOURCE: Dubai World
CONTACT: Sanaa Maadad, Manager,
Media Department,
Dubai World,
+971-50-552-2610,
Sana.maadad@dubaiworld.ae
Web site: http://www.dubaiworldchina.cn

COPYRIGHT © 2008 - ANTARANEWS

Dubai-based Istithmar unveils new corporate brand

Istithmar Unveils New Corporate Brand at Dubai World and Istithmar World Global Management Meeting 2008 Gala Dinner

Dubai (ANTARA News/PRNewswire-AsiaNet) - The Dubai-based investment house, Istithmar PJSC, announced the company's new official corporate brand, "Istithmar World". Istithmar World is wholly owned by Dubai World, which in turn is 100% owned by the Government of Dubai.

The new corporate brand was unveiled at the Dubai World and Istithmar World Global Management Meeting 2008 Gala Dinner, which took place at the Grosvenor House Hotel on Wednesday 16 January 2008, in the presence of dignitaries from the international private equity and alternative investment scenes.

In the four years since its inception, Istithmar has successfully established itself as a major investment company with a broad portfolio of successful firms in markets ranging from North America and Europe to Asia and the Middle East, as well as across a variety of sectors ranging from consumer and industrial to financial services and real estate. The new brand identity is testament to the company's early success and rapid growth which led it to reorganize its operations into three separately managed divisions: Istithmar World Capital is a private equity and alternative investment house headquartered in Dubai, United Arab Emirates, with an office in Shanghai, China; Istithmar World Aviation which will invest in various sectors of the aviation and aerospace industry including manufacturing, engineering, and financing; and Istithmar World Ventures which will invest in promising start-ups and greenfield ventures by providing them with the necessary financial and managerial resources. Each of the three divisions will be managed independently, with the Chairman of Istithmar World overseeing all operations.

In his comments on the occasion, HE Sultan Ahmed Bin Sulayem, Chairman, Istithmar World said: "The name change into 'Istithmar World' reflects the evolution and expansion of the company's sector focus and portfolio and positions it for significant future growth alongside the holding company Dubai World. The corporate re-branding is part of a comprehensive exercise which uniquely reflects Istithmar World's strengths and vision."

David Jackson, CEO, Istithmar World Capital, said: "Istithmar is an experienced investor that has certainly come a long way since its inception. The re-branding into Istithmar World is in line with Dubai World's vision of creating a world-class private equity and alternative investment platform operating out of the region, which will certainly trigger further international attention and interest."

About Istithmar World Established in 2003, Istithmar World is a private equity and alternative investment house headquartered in Dubai, the United Arab Emirates. Istithmar World is wholly owned by Dubai World, which is in turn 100% owned by the Government of Dubai. Istithmar World is comprised of three divisions: Istithmar World Capital, Istithmar World Aviation and Istithmar World Ventures.

Since its inception, Istithmar World Capital has witnessed phenomenal growth to become a recognized player in the financial services scene and secured a strong reputation alongside international private equity and alternative investment masters. Istithmar World Capital has played an integral role on the international mergers and acquisitions front, and has thus far secured substantial return on investments via its medium-termed investment philosophy.

Today, Istithmar World Capital's unique portfolio of investments includes over 50 blue-chip companies, spanning North America and Europe to the Middle East and the Far East with total capital deployed in excess of US$ 3 billion and an aggregate enterprise value of US$ 6 billion.

SOURCE: Istithmar World
CONTACT: Hwee-Suan Ong or Mohamed Tahboub, BPG Public
Relations, Tel: +97150-786-2997, Fax: +9714-295-1027; E-mail:
Hweesuan@batespangulf.com or Mohamed@batespangulf.com

COPYRIGHT © 2008 - ANTARANEWS