BUSINESS & JOBS

In terms of acquisitions, Sweid said these might be "further down the line now that we're consolidating all the business that we have". In terms of its work on the Burj Khalifa, Sweid said the full value of the contract had been paid in full and on time by Emaar, although the firm was pursuing a claim against Samsung, the primary contractor on the tower, as work took longer than expected.

Austrian enamel jewellery specialist Frey Wille has opened two shop-in-shops in key airports as it seeks to further expand its presence in the duty free sector during 2010. The new outlets have started trading at Cairo Airport Terminal 3 and at Kuala Lumpur International Airport. A boutique in Madrid will start trading by the end of 2009, and there are plans for a Cannes shop next year, revealed Elmona.

Nominations for the prestigious Arabian Business Achievement Awards have opened, with the winners to be announced at a glittering ceremony on November 30th at Dubai’s Armani Hotel. This year’s awards will span 15 categories, including technology, media, retail and the sought after titles of Businessman and Businesswoman of the Year.

Since the first machine was installed in May, in the lobby of Dubai's Burj Khalifa hotel, 20 gold-to-go machines have been installed across Europe. Next month the first machines will open in the US.

Dubai property owners are caught in the twin-grip of declining rentals and unsustainably high service fees being charged by developers, pushing their return on real estate investment further down. Maintenance fees at some locations, including for Downtown Dubai and the Burj Khalifa tower in particular, are as high as 45 per cent of the annual rentals, further adding to the woes of investors who have seen valuations of some of their properties decline by almost 50 per cent over the past couple of years.

Armani-branded residences in the Burj Khalifa are comparatively holding their sale value, despite other apartments in the world’s tallest tower seeing price declines of more than 70 percent, real estate brokers have said. Average sale prices for the tower’s 144 luxury Armani Residences are valued at AED4-5,000 per square foot; at their minimum, almost double the AED2,800 per sq ft commanded by the remainder of the skyscraper’s 900 apartments, said Catherine Clarke, head of residential valuations at real estate consultancy firm Colliers International.

The House of Cartier showcased unique jewellery creations in the UAE following the Paris Biennale des Antiquaires that took place from 15 to 22nd September at the Grand Palais. These unique creations were revealed in 2 magnificent, high-profile events in Abu Dhabi at the prestigious Emirates Palace held on October 5th to 7th and in Dubai on October 11th to 12th at the iconic Burj Khalifa.

Renting an apartment in Burj Khalifa, the tallest tower in the world, is now more affordable as studios are being leased for Dh80,000 a year compared to Dh110,000 in August. "As property prices have declined in the UAE, Burj Khalifa is no exception. However, units owners are hanging on to their investment and preferring to lease than sell at lower prices," Adam Farani, Burj Khalifa specialist, Better Homes, told Emirates 24|7.

Interiors provider links up with Northern Ireland-based Mivan Gureni Lukwaro Depa, the interiors company that fitted out the world's tallest tower, Burj Khalifa in Dubai, has won four new contracts worth Dh100 million (US$27.2m). The Dubai company said its joint venture with Mivan, based in Northern Ireland, had won three orders in the UAE and one in Yemen. The largest of them is a 12-month project worth Dh60m for the Cleveland Clinic Abu Dhabi, which is scheduled to open in late 2012.

"From January 2011, it will be a requirement for all food businesses to have a Person in Charge (PIC) trained and certified in Food Safety," said Khalid Mohammed Sharif, Director of Food Control Department in Dubai Municipality, while addressing a press conference held at Armani Hotel, Burj Khalifa. "The PIC can be the owner of the business or a designated person, such as a shift leader, chef, kitchen manager or similar individual who is always present and involved in the work site and has direct authority, control or supervision over employees who engage in the storage, preparation, display, or service of foods," he said.