Ras Al Khaimah-based real estate developer Al Hamra has has announced an economic relief package for its mall tenants, freehold owners, residents and customers, impacted by the Covid-19 outbreak.
The announcement is in line with the UAE Government and Ras Al Khaimah’s objectives to support the economic environment and boost financial stability.
The key initiatives include up to three months rental relief, reduction in cooling consumption charges, deferral of fees, waiver of payment delay penalties and payment due date extensions, said the RAK developer.
Al Hamra group has diversified interests in retail, residential and hospitality in the emirate and owns iconic assets such as the award-winning master-planned community of Al Hamra Village, Waldorf Astoria Ras Al Khaimah, Ritz Carlton Al Hamra Beach, Manar and Al Hamra Malls.
Dedicated teams have been deployed to assess specific requirements of various businesses and individuals to provide economic relief and support, it stated.
The tasked force is also reassessing the cost-effectiveness of operations in order to pass on the benefit to the end-users and customers, it added.
Group CEO Benoy Kurien said: "We have been proud partners in shaping the real estate landscape of Ras Al Khaimah and this pride comes with a responsibility to the emirate as well as to our partners and consumers who have contributed to our success."
"This pandemic is reshaping the way we think about community and has made one thing strikingly clear: our interdependence. We are working closely with our stakeholders to ensure that we recover from this period together, stronger and more resilient," he added.-TradeArabia News Service
Dubai RTA suspends paid parking for two weeks
Dubai’s Roads and Transport Authority (RTA) announced that paid and multi-storey parking in Dubai will be free of charge for two weeks starting from today (March 31) until April 13.
The decision supports the public during the period of preventive measures against Covid-19 and the national disinfection programme of the Ministry of Health and Prevention and the Ministry of Interior.
It also supports the government’s remote work initiative and its directives to citizens and residents to stay home.-TradeArabia News Service
Leva Hotels inks deal for two Oman properties
Dubai-based Leva Hotels & Resorts, a dynamic lifestyle hotel brand in the Middle East region, said it has signed management agreements for two new hotels in Muscat, Oman, and a stunning property in Kampala, Uganda, as part of its expansion strategy for GCC, Africa and Europe.
Building up on its growth momentum, the brand is aggressively exploring further opportunities in Kuwait, Saudi Arabia, Oman, Rwanda, Ethiopia, Kenya, Uganda, Nigeria and Tanzania as well as Europe. It currently has an asset under negotiation in Portugal.
Founder and CEO JS Anand said: “Despite the challenges, it is important to focus on long-term strategies to proactively target recovery in the hospitality sector. At Leva Hotels & Resorts, we are confident that it is only a matter of time before our industry turns around, and therefore, all of us must continue to work together by prioritising our goals to prepare for a better future. We remain committed to expand our footprint in our target markets offering superior brand standards and exceptional management options to hotel owners with flexible terms tailored for diverse market segments.”
Leva Hotels & Resorts is uniquely positioned in the upscale and midscale segments with four complementary and well differentiated brands designed to provide a solid return on investment for owners and greater value to guest. While Leva is specialised in the four-star and above category, Ekono by Leva is a smart and efficient choice in the mid-scale segment.
In keeping with Leva Hotel’s corporate social responsibility, Anand shared plans for contributing to community welfare initiatives in Africa.
He stated: “We will invest back in the community as well as the development of people who work for us with an aim to improve lives. Our goal is to become the strongest and most preferred employer by supporting critical social causes such as building schools, funding medical requirements, providing humanitarian aid and offering educational scholarships for deserving students.”
In addition to its flagship hotel Leva Mazaya Centre, a deluxe four-star hotel located between Al Wasl Road and Sheikh Zayed Road, Leva recently took over the management of two hotels located within walking distance to each other in the Madinat Al Sultan Qaboos district, as well as the unique Emin Pasha Lake View Hotel Residences situated in Muyenga at Tank Hill in Kampala. - TradeArabia News Service
Lockheed Martin wins $933m US, Saudi missile contracts
US-based Lockheed Martin, a global security and aerospace company, has been awarded an extra $932 million to supply intermediate-range interceptor missiles to the US and Saudi Arabia.
The contract is another sign of the missile and missile defense powerhouse growing inside Lockheed's vast defence portfolio.
The Pentagon on Tuesday announced a contract modification to add the new Terminal High Altitude Area Defense (THAAD) one-shot interceptors.
The THAAD system, designed and manufactured by Lockheed Martin using Raytheon radars and Aerojet Rocketdyne boosters, is designed to shoot down short- and medium-range ballistic missiles on their descent.
The system is somewhat portable and deployable as needed, and it, along with the Lockheed-built Aegis Ballistic Missile Defense System deployed on much of the Navy's fleet of destroyers, is quickly becoming a vital cog in the US defence strategy.
Foreign military sales funds earmarked for Saudi Arabia will pay for $605 million of the award, with the rest coming from US government funds, said a statement from Lockheed Martin.
The award comes nearly a year after Lockheed Martin received its first down payment on a $15 billion missile defense system for Saudi Arabia, it added.
The THAAD is the primary US deterrent to North Korean rockets from locations in South Korea and Guam and is also been deployed in the UAE, Israel, and Romania.
A January escalation in tensions between the U.S. and Iran that led to strikes on US assets only reinforced the need to deploy defensive measures in the region.
Lockheed's Missiles and Fire Control (MFC) unit doesn't get the same amount of attention as the company's airplanes and helicopters, but it is growing increasingly important to the overall investment case for the company.
In addition to THAAD and Aegis, Lockheed Martin recently scored an apparent win on the Army's new long-range ballistic missile.-TradeArabia News Service
Emerson launches transducer with metal 3D-printing
Emerson has released the Daniel T-200, a titanium-housed transducer, for its gas ultrasonic flow meter product line, marking the first use of metal 3D printing to enhance the acoustic performance of ultrasonic flow meters in custody transfer applications.
The T-200’s robust design provides increased reliability, uptime and safety while achieving the highest accuracy class attainable in gas measurement, the company said in a statement.
In an ultrasonic flow meter, transducers generate acoustic signals that are sent back and forth across the fluid stream. The arrival times of these signals determine the fluid flow velocity. Signal quality and strength are critical to measurement accuracy, which is paramount in custody transfer applications. An error of only 0.1% can equate to hundreds of thousands of dollars annually in a large diameter high pressure pipeline.
To boost signal strength through the titanium housing, the T-200 uses a metal 3D-printed mini horn array, which consists of an intricate geometrical structure of titanium horns and a titanium diaphragm that acts as a harmonic oscillator and matching layer. This maximizes the sound energy coupled into the gas, which improves the signal-to-noise ratio and accuracy of the measurement.
“The T200’s mini-horn array could not be made without metal 3D printing technology, making it transformational to the sound quality and performance achievable through a titanium barrier,” said Kerry Groeschel, director of ultrasonic technology, Emerson. “Emerson is committed to developing innovative solutions that help our customers achieve safer, more efficient operations.”
The meter’s all-metal housing provides a barrier from corrosive hydrocarbon fluids and wet gas, thereby extending the life of transducer components and ensuring stable performance. This unique design allows the meter to be hydrotested with transducers in place, steam cleaned while in the operating line and blown down with no limits on the rate at which the meter can be depressurized.
The T-200 can also be safely extracted while the meter is under pressure without special high-pressure extraction tools, which reduces the possibility of greenhouse gas emissions during extraction. The capsule which contains the piezoelectric crystal used to produce ultrasonic sound waves is retractable as a single piece for simplicity and ease of use. No other gas ultrasonic transducer can be extracted under pressure without special tools and with so few parts to remove or touch in the removal process.
The new design is rated for a wide range of operating conditions, including pressures from 15 pounds per square inch gauge (psig)/103 Kilopascal (kPa) to 3,750 psig/25,855 kPa and temperatures up to 125 degrees Celsius/257 Fahrenheit. –TradeArabia News Service
Schneider offers free learning for universities and engineers
Schneider has launched Electric, a leader in digital transformation company for energy management and automation, free education portal and online students and teachers to help engineers and business owners to learn more information about energy management.
The available content with 14 energy University languages, including English, Arabic and French, contains more than 150 online course in the field of energy efficiency and management of the data centre with a focus on infrastructure, industry, buildings and housing, as well as data centers and networks.
Do not exceed a period of educational courses more than one hour and can be done anytime, anywhere. These courses are designed to help anyone working in the field of management, planning, design or construction of energy - affected areas, in addressing the problems of efficiency and application of safe and reliable measures with the appropriate cost. Designed curriculum experts in the field, and new courses are added regularly to the Energy University. Anyone can use this resource to choose a number of professional development courses that focus on the themes of energy efficiency and management.
Peter Hogg, director of talent department said at the Schneider Electric Company in the Middle East and North Africa: "Energy period sector undergoing rapid change, is the recruitment of innovation and best practices is good for everyone in a world where demand with time increasing. We need today to be more sustainable, so we wanted to share the lessons that will enable the sector and universities to design and implement solutions that will benefit individuals, organisations and the whole world by providing them with the necessary knowledge and skills. "
The site includes additional resources necessary information documents and case studies. Provide certification courses and educational credits for a number of bodies, in addition to the level of qualified sector are a fellowship certificate approved by the Data Center (DCCA ) And certification of energy management expert (PEM ). -- Tradearabia News Service
Oman suspends new development projects as low oil bites
Oman has announced several major steps to alleviate the impact of slumping oil prices on its finances including the suspension of new projects, as well as capital expenditures for the year pending the re-evaluation of these projects in the next fiscal year, said a report.
The Ministry of Finance has issued a circular directing all state-owned companies to implement recent Royal directives including a cut in spending, boosting revenue earnings, and thereby reducing the budget deficit, reported Oman Daily Observer.
The circular stated that the goals should be achieved by:
*Reducing the operating and administrative expenditure approved for the financial year 2020 by 10 percent;
*Suspending the implementation of new projects, as well as capital expenditures for the year pending the re-evaluation of the projects in question in the next fiscal year;
*Suspending all external training programmes and participation in workshops, conferences and exhibitions; and
*Slashing allocations towards official missions by no less than 50 per cent.
The ministry also stressed the need for all state-owned companies to submit revised operating budgets before the end of April incorporating the spending cuts enumerated, the report added.
UAE issues decree to regulate private sector jobs
The UAE's Ministry of Human Resources and Emiratisation has allowed private sector businesses affected by the Covid-19 measures to restructure the contractual relationship with employees, reported the Gulf News.
These contractaul changes are to be made in mutual agreement through gradual procedures, it stated.
Under the decision approved by Nasser Thani Al Hamli, Minister of Human Resources and Emiratisation, businesses affected by precautionary measures taken to prevent the spread of coronavirus and seeking to reshuffle their business structure shall gradually adopt the following actions, in agreement with their employees:
The decision, which will be effective from the date of issuance - March 26, states that affected businesses having more employees than they need must register the additional staff on the virtual job market, so that they can be recruited by other businesses.
Meanwhile, these businesses will remain obliged to provide these employees with accommodation and other dues, except for salary, as long as they are in the country or until they are hired by other businesses.
Under Article 4 of the decision, businesses seeking to recruit during the suspension of overseas hiring shall be required to:
*Post their vacancies on the virtual job market, search through available data, and select whoever meets the requirements
*Apply for a work permit from the ministry, which will be provided through online systems, and hire selected candidates. Businesses can choose from a transfer work permit of employee to new employer, temporary work permit or part-time work permit.
*Temporary reduction of salary
Article 5 states that businesses seeking to temporarily reduce the salary of an employee during the said period shall sign an additional annexure. The validity of this temporary annexure is limited to the agreed-upon term, or as long as this resolution remains valid, whichever is.
This annexure can be renewed in agreement of both parties. It shall be issued in two copies, with one copy for each party. The employer should be ready to present it to the ministry whenever requested.
Under Article 6, businesses seeking to permanently reduce the salary of an employee should first obtain the ministry's approval to do so by applying for 'change of a job contract’s data' according to effective procedures.
As per Article 7, employees in the country looking for jobs should register with the virtual job market and apply for available jobs listed by registered organisations based on their qualifications and experience.
The provisions of this resolution is only applicable to expatriate employees and during the period of applying the above-mentioned precautionary procedures.
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