Addressed to all religions and cultures, the biennial award is to be granted to any individual or organisation that best inspires and promotes peace around the world.
According to a senior official, the underlying desire behind the award is to spread the inspiring values of Islam throughout the world. “We whole-heartedly believe that Dubai is an exemplary emirate by harmoniously accommodating over 200 nationalities who coexist in peace,” said Dr Hamad Al Shaibani, Chairman of the Board of Trustees of the Award.
Out of five to six similar awards being studied, such as the Nobel, Gandhi and King Faisal peace awards, the Mohammed bin Rashid Al Maktoum Award for World Peace will come up with something new and competitive globally.
“The door is open for ideas, but we promise something different and distinguished and His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, is the patron of the Award,” he said.
A workshop will be held soon to compare all relevant world peace awards, and then some renowned specialists will lay down the mechanism, terms and conditions of the award.
“Though no money value of the award has been set yet, it is going to be higher and more expensive than any similar award worldwide,” Dr Al Shaibani told Khaleej Times.
Sultan Butti bin Mejren, Deputy Chairman of the Board of Trustees, said the award is driven by its mission to nurture, disseminate and honour visionary contributions to world peace, through creative initiatives that are rooted in an Islamic world view, thereby fostering universal harmony. “This is only possible by adhering to the award’s five values of Equality, Integrity, Responsibility, Transparency and Tolerance.”
Mohammed Al Muhairi, member of the board of trustees, said the award will acknowledge those who dedicate themselves to noble causes pertaining to world peace. “The cumulative result will be the enhancement of international relations, and the advancement of civil dialogue in which any disagreements are resolved in a mutually respectful manner.”
Al Muhairi, who is also the head of the scientific section of the award, said the award, to be presented every two years starting from 2014, will promote respectful dialogue in an open-minded fashion that takes into account religious and cultural differences. “Throughout this process, the proceedings will be guided by the teachings of Islam in order to tolerate and accommodate differing points of view.”
Later on, Al Muhairi detailed the recommendations of the Dubai International Peace Convention held last month. “The 2012 edition of the convention, surpassing all expectations, saw over 153,000 people of diverse nationalities and faiths, and 36 new Muslims.”
“The milestone event, held under the theme ‘Aiming Global Unity through Peace’, has reinforced the prominent role played by the UAE in general, and Dubai in particular, as a beacon of hope and peaceful coexistence. “It also aims to root out extremist viewpoints and intolerance by stressing Islam’s teachings of moderation and tolerance, whereas violence, injustice and oppression are forbidden by all religions,” Al Muhairi added.
Nawaz ‘money laundering’ on NAB radar - Nation
ISLAMABAD - The National Accountability Bureau initiated inquiry into a reference filed by Minister for Interior Rehman Malik against the PML-N chief Mian Nawaz Sharif on charges of money laundering. “We have received the reference and initiated inquiry into the matter,” said NAB spokesman Zafar Iqbal, addressing a press briefing here Thursday.He said Rehman Malik, in a media talk, had mentioned two references against Nawaz – of those one had been filed in NAB while the other had been forwarded to Public Accounts Committee.However, he did not clarify as whether the reference with NAB pertains to the alleged embezzlement of $32 million or the other one.“As we are yet scrutinising the documents of the reference, it would be disclosed later as how much amount involved in this case,” he told the media. He rejected the impression that President Asif Zardrai had directed NAB chairman to suspend inquiries against Nawaz Sharif rather he had directed him not to commit any political victimisation like the one the former had been facing in the past. The spokesman said reference had been referred to the investigation team which started examination of the received documents assuring that the decisions would be taken on merit. He said so far, NAB had recovered Rs2.012 billion from the parties involved in the Rental Power Plants case after the Supreme Court handed it over to them on March 13, 2012.He said Rs 1,091 million have been recovered from Pakistan Power House and Walters International, Rs546 million from Techno Energy, Rs50 million from Young Gen, Rs225 million from Gulf Plant and Rs100m from Reshma Power Plant and that the process was yet going on.He said that NAB recommended placing Federal Minister Raja Pervaiz Ashraf and two former federal ministers on Exit Control List; however the recommendation was yet to be executed. However, he said the recovery would follow the initiation of probe into criminal liabilities against any of these accused. He said Pervaiz Ashraf had already recorded his statement with NAB, adding no money had yet been recovered from the said three ministers as the investigation team was yet examining the case. To a question about NAB’s stance on writing letter to Swiss authorities, the spokesman said they had already drafted a letter but the Supreme Court said it should be written by the Attorney General with the approval from Prime Minister.Regarding NICL case, he said the defence ministry was investigating the military officials while the case of a civilian CFA Saeed-ur-Rehman is under-probe in NAB.
Lewis Automotive hosts Business After Hours - Register-Herald
Lewis Automotive, a long standing business in Beckley, hosted a Business After Hours event offered by the Beckley-Raleigh County Chamber of Commerce Thursday evening to showcase their new showroom and added amenities the dealership now offers.
This is the second Business After Hours in the month of May, and according to Joe Guffy, information coordinator for BRCCC; a third will take place May 31 at Burning Rock, marking the first time in the history of BRCCC hosts three After Hours events in one month.
Lewis Automotive was founded in 1930 and one of the founder’s great-granddaughters, public relations manager Sarah Abrams, explained how the dealership has changed over the years.
“We were a Chevy dealer for years, but now Nissan has stepped in and become our flagship franchise and we have just completed this new Nissan showroom, so we wanted to host a Business After Hours here to get people to come out and see our new showroom,” she said.
Amenities in the spacious facility include flat screen televisions in a waiting room, a children’s play area, a drive-through weather-free service write-up area and 45 service bays. The business is pet friendly and offers free popcorn and coffee to guests throughout the day, she said.
Abrams shares the helm of Lewis Automotive with her sister, Rachel Abrams Hopkins.
New hours have also been established, she noted, explaining the service department is now open on Saturdays from 8 a.m. to 1 p.m.
Thursday’s event boasted food and beverages from Pasquale’s, along with representatives from NAPA Auto Part; United States Marine Corps, who were hosting a pull-up competition; and Elevation Sports, she added.
Guffy said approximately 50 people had registered to attend, although Abrams hoped more will turn out as they extended the hours.
“We offer After Hours events on a monthly basis because we want our members to networks with other business representatives in the area because you are comfortable doing business with someone you know, so we like to offer that opportunity to our members on a regular basis,” Guffy explained.
Lewis Automotive is located at 100 Appalachian Drive in Beckley, and is open Monday through Friday 8 a.m. to 7 p.m. and Sat 9 a.m. to 6 p.m.
For more information call 304-255-1555 or visit www.lewisautomotive.com
For more information on upcoming BRCCC events call 304-252-7328.
— E-mail: kvanpelt@register-herald.com
Architect rues missed business opportunities during CAN 2008 - Modern Ghana
Accra, May 17, GNA Frank Tackie, an architect has rued missed business opportunities when Ghana hosted the Africa Cup of Nations four years ago.
He said staging the continental flagship football event came with several business opportunities that could have developed the country in all aspects; rather a 'mess' was made of the 'golden' opportunity.
Speaking at the 4th Accra Sports Expo on Thursday on the topic Developing, multi -faceted, viable sports infrastructure, he said that the focus was largely on the construction of the four stadia to host the tournament instead of the bigger picture as a tool for national development.
Tackie, Chief Executive of the Consortium, a consulting firm of Architects, Planners and Engineers regretted that four-years down the lane, such a perfect opportunity to transform the developmental agenda of the country was accorded little or no technical expertise.
"It was as all about project approach and the focus was on the stadia. Ghana missed a golden opportunity during the 2008 Africa Cup of Nations and we may never get the chance again, he said.
He cited countries such as Malaysia, United Arab Emirates, Qatar and China, who have driven their economic agenda through the hosting of major international sporting competitions such as Professional Golfers' Association (PGA) tournament, Tennis Championship, Grand Prix amongst others due to strategic planning.
He explained that participation does not serve the objective of the Asian countries scrambling to host major international sporting events, rather to boost their economy and the construction of the country as a whole.
On sports talents development, he mentioned factors including exclusive nature of several sporting disciplines (example Golf, Squash), geographic location of sports infrastructure, inadequate funding, urban sprawl and land use concentration in Accra, Tema, Kumasi and Takoradi as major obstacles.
Tackie stated short and medium term infrastructure plans and underscored the need to intensify the regulatory role of Government in the provision of sports infrastructure by private sector standards for safety, public health amongst others as possible suggestions to tackling the problems.
He also called on the need to provide an enabling framework for mining, gas, financial institutions to provide public usage sports infrastructure.
The Architect also urged Government to bid to host mega projects that will make Ghana a destination for global sports competitions.
The four-day Sports Expo under the theme Promoting Africa's Talents Globally: Role of Sports Business is being organized by RICS Consult, the nation's foremost sports business consultancy firm and focuses on ways of leveraging all facets of sports business principles and practices to develop and globally promote Africa's Sports Talents.
The Expo Conference will also seek to reach consensus on a designed road map to assist African nations; governments, sports policy makers, administrators and performers re-think sports as an emerging industry with all its attendant benefits to grow African economies.
GNA
Money laundering laws to change - Bangkok Post
The Anti-Money Laundering Act will be amended and strengthened by the end of this year because the intergovernmental Financial Action Task Force on Money Laundering (FATF) has blacklisted Thailand for not responding to its suggestions, Deputy Prime Minister Kittiratt Na-Ranong said on Thursday.
FATF, the prime international watchdog against money laundering, earlier put Thailand on its "dark grey list" and recommended it introduce stronger measures to block money laundering, which was a source of financial support for terrorist groups. Thailand has not responded to the recommendation.
Therefore, it has included Thailand on the list of high risk and non-cooperative jurisdictions failing to meet international standards.
Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong (R) (Photo by Apichit Jinakul)
Mr Kittiratt said he understands well that this will definitely affect foreign investor confidence and Thailand as a whole.
He said Deputy Prime Minister Chalerm Yubamrung last week submitted draft bills seeking to amend the Anti-Money Laundering Act and Anti-Terrorism Act to the cabinet for consideration.
The bills were being examined by the Council of State. The two pieces of legislation, once approved by the government's legal advisory body, would be forwarded to parliament for deliberation.
The amendments were expected to be approved and implemented before the end of this year. It was hoped the FATF would then remove Thailand from its blacklist, he said.
A source said as a result of being blacklisted by the FATF, the cost of capital investment and financial transactions between Thailand and other countries would increase.
It would eventually impede international trading, including the opening of accounts with international financial institutions and remittances, as additional documents would be needed.
Clarification may be needed to identify the origin of the money and objective of transferring money abroad, and the time taken for monetary transactions would be longer, the source said.
CIMB Thai Bank chief executive Supak Sivarak said the amendment would improve the image of the country's financial system.
Even after the anti-money law has been amended to meet FATF requirements, he believed Thailand would continue to be on the blacklist until the committee on financial matters relating to money laundering meets again next year.
Although the blacklist had not yet caused much damage for financial transactions, the anti-money laundering law should be amended as soon as possible, Mr Supak said.
Did you know?
You can introduce your kids to edutainment reading with our Student Weekly magazine: Thailand's only all-English entertainment and education magazine for teens and all ages.
Aust stocks continue to tumble - ninemsn
Australian stocks continued to tumble at noon after local investors panicked over the debt crisis in Europe.
Australian shares opened at their lowest level this year and then continued their descent all morning in response to falls on Europe's main stock markets and the euro hitting a new four-month low against the US dollar.
However, Lonsec strategist Michael Heffernan said Australian shares had fallen even further than European markets.
"Greece is certainly the word," he said.
"The European markets seem to take it much more in its stride than we do. Their market is only down between one and two per cent and here we are blowing through the two per cent mark. Again we exaggerate the moves that have been going on around the world."
He said the local market's severe reaction to the falls in Europe could be attributed to our strong reliance on resources.
"Maybe it's because we're so far away we feel we have less control over what's going on," he said.
"Maybe we don't hear all the information that the others are getting...or it could be because we're so heavily focused on resources that slowdowns in world economies certainly have an impact."
At 1201 on Friday, the benchmark S&P/ASX200 index was down 81.5 points, or 1.96 per cent, at 4,075.9 while the broader All Ordinaries index was down 84.3 points, or two per cent, at 4,124.2.
On the ASX 24, the June share price index futures contract was 81 points lower at 4,079 with 23,493 contracts traded.
A week of turmoil on global markets has led to all of this year's gains being wiped off the local Australian market.
The previous 2012 lowest point for the All Ordinaries was on January 3 when the index reached 4,155 points while the lowest point on the ASX/200 was at January 3 when it reached 4,101 points.
Due to the uncertainty, the best performing sector at the open was gold stocks.
The spot price of gold in Sydney was $US1576.22 per fine ounce up $US1.45 from Friday's earlier level of $US1,574.77 per fine ounce.
Australia's biggest company BHP was 3.27 per cent lower at $31.70, while Rio was down 3.94 per cent at $55.87.
Fortescue metals lost 7.64 per cent to $4.53.
The major banks were all around two per cent lower.
US stocks have closed with losses well above one per cent as negative news continued from Europe.
National turnover was 814 million securities worth $2.161 billion.
George Zimmerman Making Money on Infamy - YAHOO!
COMMENTARY | Guilty or not, accused Trayvon Martin killer George Zimmerman has made a lot of money in donations towards his legal defense fund and living expenses. A news release from May 16 touts Zimmerman's official legal defense fund has raised $15,424 since the new fund was established May 3. Previously, an account set up by Zimmerman before his legal representation netted more than $200,000.
The site states around $30,000 was used to help Zimmerman go into hiding. Another $20,000 of funding is kept liquid for living expenses. That totals $50,000.
That's more than many Americans make in a year. And this is all because Zimmerman shot someone.
The case features two American ideologies that seem to be in conflict. Zimmerman has a right to make money the way he sees fit. In the Internet age, asking for donations through online giving is a perfectly legal and free market way to earn cash.
The other American ideal at stake is that of being innocent until proven guilty. No matter what new evidence or hearsay is released to the media, Zimmerman still deserves a trial of his peers to determine innocence or guilt. Zimmerman's legal defense fund may even continue beyond his trial if he is found not guilty. The ensuing controversy may force the man to go into hiding even further which would require even more money.
Martin's family has seen similar outpourings of money. The Kansas City Star reports the family has raised more than $100,000 to start a criminal advocacy foundation in Martin's name. Another $40,000 of time off was given to Sybrina Fulton, Martin's mother, by co-workers at the Miami-Dade housing authority.
Both sides of the emotional issue are trying to move forward. Legal entanglements and life-changing events can be traumatic. They are also times for friends and family to gather around close to help get through difficult moments.
Supporters of Zimmerman and Martin's family have banded together to help. One man needs money for fear of his life. The dead man's family needs money to deal with the heavy burden of losing someone they love. No matter the outcome of the trial, one thing is clear. Martin's death has galvanized two opposing forces in this great country.
Business Notebook - The State
Hilton Head Island is taking steps to streamline how new cellphone towers can be built on the resort island. The (Hilton Head) Island Packet reports the town planning commission is recommending allowing cell towers to be placed on vacant land in a move that could trim approval time from nine months to only two or three. Under the current rules, landowners must request a zoning change if a subdivision land use plan doesn’t allow towers. That’s a lengthy process that can take months. Industry experts say wireless carriers aren’t spending money to upgrade service on the island because new towers take too long to get approved and existing regulations are too restrictive.
With fewer passengers last year, bag fee revenue fell
NEW YORK U.S. airlines’ revenue from bag fees fell last year for the first time since they started collecting them. But that was no gift to fliers; there were just fewer people traveling. The Transportation Department said Thursday that the 17 largest airlines made $3.36 billion in bag fees last year, down slightly from $3.4 billion in 2010. The total number of passengers last year on those airlines fell by about 1.5 percent. Fees for first and second checked bags began four years ago, when fuel prices soared to all-time highs. But many airlines charged extra for extra heavy or oversized bags before then. The revenue airlines collect has been climbing ever since. Between 2008 and 2009, money from bag fees jumped by 42 percent. From 2009 to 2010, it increased by 24 percent.
Mortgage rates fall to record lows for third week in a row
WASHINGTON Average U.S. rates for 30-year and 15-year fixed mortgages fell to record lows for the third straight week. The steady decline has made home-buying and refinancing more affordable than ever for those who can qualify. Mortgage buyer Freddie Mac says the rate on the 30-year loan dipped to 3.79 percent. That’s down from 3.83 percent last week and the lowest since long-term mortgages began in the 1950s. The 15-year mortgage, a popular option for refinancing, declined to 3.04 percent. That’s down from last week’s previous record of 3.05 percent.
Jeff Wilkinson and The Associated Press contributed.
Every FDIC insured bank in Los Angeles is graded for their small business loans - PR Inside
Los Angeles - Bankinggrades.Com Connects Small Businesses With Banks That Lend
/EINPresswire.com/ Los Angeles - May 16, 2012 -- The month of May is host to Small Business Week, a time to recognize the contributions that small businesses make in our country. "One of the biggest challenges that small businesses face is access to capital," says Ami Kassar, CEO of MultiFunding, a small business financial advisory firm. "We decided to give small businesses a gift this year and help them find local banks that are friends of small business - Banking Grades (www.bankinggrades.com)."
Banking Grades is a proprietary online tool that grades every bank on its commitment to small business lending. Using public data from the Federal Deposit Insurance Corporation (FDIC),
Banking Grades compares the amount of a bank's deposits to the amount of loans that bank has made to small businesses. These loans are $1,000,000 or less. "Based on our experience of helping small businesses find financing, we believe that a one million dollar loan is a good barometer of small business lending," explains Kassar.On Banking Grades, anyone can search for an FDIC-regulated bank by name, zip code, city and/or address. Banks that make the most loans to small businesses (proportionately to their deposits) receive an A. Conversely, the banks are not making small business loans, receive an F. There are thousands of banks in between. "It is our hope that small business owners will use this tool to find local banks that will lend to them. All banks have money, but the biggest one or the closest one to your store isn't necessarily the one focused the needs of small businesses," says Kassar.
In Los Angeles, the following banks received an "A": Asian Pacific National Bank, Bank of Santa Clarita, Bank of Whittier, BBCN Bank, Beach Business Bank, Broadway Federal Bank, California Business Bank, Capital Source Bank, Commonwealth Business Bank, Community Commerce Bank, Eastern International Bank, Eh National Bank, Evergreen International Bank, GBC International Bank, International City Bank, Merchants Bank of California, Mission Valley Bank, National Bank of California, Open Bank, Pacific City Bank, Professional Business Bank, Stellar Business Bank and United Pacific Bank.
Banking Grades is sponsored by Hana Small Business Lending, The Receivables Exchange and IOU Central. For more information about MultiFunding, visit www.multifunding.com. For more information about Banking Grades, visit www.bankinggrades.com.
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