Happy New Year.

New decree on rent increases in Dubai

Source: WAM (Emriates Govt News Agency) abridged
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H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, in his capacity as the Ruler of Dubai, today issued a decree setting the maximum allowed increase in property rent values in 2010.
For properties rented in 2009 and before, the maximum increase in rent value shall be set as per the previous relevant similar decree for 2009.
The decree approves the Real Estate Regulatory Authority's (RERA) price index which shall be followed as the reference for setting any increase in rent values in 2010.
The new decree prevents any increase in rent values as long as they are less by a maximum of 25 % than the average rents of properties of similar specifications.
The maximum allowed rental increases shall be as follows: - 5% increase if the rent value is 26% to 35% less than the average rent of properties of similar specifications.
-10% increase if the rent value is 36% to 45% less than the average rent of properties of similar specifications.
--15% increase if the rent value is 46% to 55% less than the average rent of properties of similar specifications.
--20% increase if the rent value is less by a percentage that is more than 55% of the average rent of properties of similar specifications.
The decree goes into immediate effect and shall be published in the official gazette.
The decree also defines a new formula for lower rent values which allows a proportional increase in rents for 2009. According to the new formula, the increase in property rent will rise in proportion with the drop in 2008 rent value in the average annual rent for the same property.

Even by Dubai standards, this is quite bad driving....

Photo taken 27 Dec on the UAE side of the border fence, just before Madam.

Kiwi dairy company doubles investment in Middle East

Source: Arabian Business
Photo: foodprocessing-technology.com
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Fonterra Cooperative Group Ltd, the world’s biggest exporter of dairy products, said its investment in the Middle East and Africa doubled since 2006 as it seeks to tap demand for powdered milk and increase exports to the region.
Fonterra wants to boost production at a newly acquired plant from a Saudi partner as part of the Auckland, New Zealand based company’s five year expansion plan in the Middle East, said Amr Farghal, managing director of Fonterra’s Middle East, Africa and Commonwealth of Independent States businesses.
Speaking in an interview, Farghal said: “The Middle East, Africa, and CIS region accounts for around 20 percent of sales in the Asia Middle East consumer division, and it is one of our key focuses for expansion."
Fonterra reached a final agreement last week to take full ownership of Saudi New Zealand Dairy Products Co after buying a 51 percent stake from partner Saudi Dairy & Foodstuff Co for $33 million (NZ$45 million).
More than half of the production at Saudi New Zealand’s plant, which started in 1996 and processes about 30,000 metric tons of New Zealand milk a year, is exported to the Middle East including Gulf countries, Africa, and former Soviet Union countries, Farghal said.
Demand for New Zealand products will increase if a free trade agreement is reached between the country and Gulf states, Farghal said. He expects an agreement to be signed in April.
Saudi Arabia’s population is growing about 2 percent a year, increasing demand for milk powders and cheese sold by Fonterra and rivals Nestle SA, Kraft Foods Inc and Almarai Co, the kingdom’s biggest food processor.

A virtual Christmas card

Rather than writing my usual 'what we did this year' letter, I've put together a 'virtual Christmas card'.  Its better than the usual tome tucked inside the Chrimbo cards because there are no typos and it has music too. 
Best wishes to everyone who reads The Caro-Van, thanks for all the comments over the past year and I look forward to doing it all again in 2010.

أجمل التهاني بمناسبة الميلاد و حلول السنة الجديدة

The Arab Rich List 2009: The Top 10

And the winner is.......................

1 . Prince Alwaleed bin Talal Al Saud  (Saudi)
...and making up the list are:
2 . Sheikh Mohamed Bin Issa Al Jaber (Saudi)
3 . Nasser Al Kharafi  (Kuwait)
4 . Mohammad Al Amoudi (Saudi)
5 . Nasser Al Rashid (Saudi)
6 . Al Ghurair Family (UAE)
7 . The Bin Laden Family (Saudi)
8 . The Olayan Family (Saudi)
9 . The Kanoo Family (Bahrain)
10.  Said Khoury (Lebanon)

Facebook is 'down' in the UAE

Facebook is 'down' in the UAE....again.  Nobody seems to know why.  Something to do with Iran maybe?  Anyway if you add an 's' to the url https//:www.facebook.com you'll get onto the log-in page.