Emirates is one of two flag carriers of the United Arab Emirates. Based in Garhoud, Dubai, the airline is a subsidiary of The Emirates Group, which is owned by the government of Dubai's Investment Corporation of Dubai. It is the largest airline in the Middle East, operating over 3,600 flights per week from its hub at Terminal 3 of Dubai International Airport. It operates to more than 150 cities in 80 countries across six continents on its fleet of nearly 300 aircraft. Cargo activities are undertaken by Emirates SkyCargo.
Dubai is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the country's seven emirates.
Dubai Shopping Festival is an annual month long event put together by the Dubai Festivals & Retail Establishment (DFRE), which is a part of Dubai's department of tourism. During the festival, shops offer discounts on their merchandise, daily car raffles and prize drawings are held to win items such as gold and cars, and there is a fireworks display. There are also a range of family activities and live shows that take place throughout Dubai.
A gold bar, also called gold bullion or gold ingot, is a quantity of refined metallic gold of any shape that is made by a bar producer meeting standard conditions of manufacture, labeling, and record keeping. Larger gold bars that are produced by pouring the molten metal into molds are called ingots. Smaller bars may be manufactured by minting or stamping from appropriately rolled gold sheets. The standard gold bar held as gold reserves by central banks and traded among bullion dealers is the 400-troy-ounce Good Delivery gold bar. The kilobar, which is 1,000 grams in mass, and a 100 troy ounce gold bar are the bars that are more manageable and are used extensively for trading and investment. The premium on these bars when traded is very low over the spot value of the gold, making it ideal for small transfers between banks and traders. Most kilobars are flat, although some investors, particularly in Europe, prefer the brick shape.
The economy of Dubai represents a per capita gross domestic product as of 2022 of US$46,665. Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, announced that the UAE's non-oil trade over 10 years totalled Dhs16.14 trillion. The UAE GDP jumping from $407 billion in 2021 to $440 billion in 2022 and $467 billion in 2023. Similarly, per capita GDP will also expand from $43,868 in 2021 to $46,665 in 2022 and $48,822 in 2023.
The London Bullion Market Association, established in 1987, is the international trade association representing the global Over The Counter (OTC) bullion market, and defines itself as "the global authority on precious metals". It has a membership of approximately 150 firms globally, including traders, refiners, producers, miners, fabricators, as well as those providing storage and secure carrier services.
Sharjah is the third-most populous city in the United Arab Emirates, after Dubai and Abu Dhabi. It is the capital of the Emirate of Sharjah and forms part of the Dubai-Sharjah-Ajman metropolitan area.
Rand Refinery (Pty) Limited is the largest integrated single-site precious metals refining and smelting complex in the world. It was established in 1920 to refine gold within South Africa which until that time had been refined in London.
There are many tourist attractions in Dubai, resulting from the large scale construction boom. Dubai received 14 million tourists from all around the world in 2015. Euromonitor ranked the world's 150 most visited cities by international tourists in 2009; Dubai ranked 7th. Dubai welcomed 14.36M visitors in 2022. Dubai's economy relies on many sections of the "state", one of the most important being tourism, in 2014 total 70,475,636 passengers traveled through Dubai Airport. To maintain this important position in the tourism industry they are known to create big and impressive tourist attractions.
Gold to Go is a product brand made by the TG Gold-Super-Markt corporation designed to dispense items made of pure gold from automated banking vending machines. The first gold-plated vending machine was located in the lobby of the Emirates Palace hotel in Abu Dhabi, dispensed 320 items made of gold, including 10-gram gold bars and customized gold coins. There are currently six vending machines installed across Europe and Peru. The first vending machine in the United States was installed in Boca Raton, Florida in December 2010. The "gold ATMs" are designed to be placed in shopping malls and airports and are meant to make ordinary people comfortable with the idea of investing in gold. The vending machines update their prices to market value every minute over an encrypted internet connection.
The Good Delivery specification is a set of rules issued by the London Bullion Market Association (LBMA) describing the physical characteristics of gold and silver bars used in settlement in the wholesale London bullion market. It also puts forth requirements for listing on the LBMA Good Delivery List of approved refineries.
Expatriates in the United Arab Emirates represent about 90% of the population, while Emiratis constitute roughly 12% of the total population, making the UAE home to one of the world's highest percentage of expatriates.
MKS (Switzerland) SA is a trader of precious metals. Based in Geneva, the group employs approximately 1,500 workers. MKS is an associate of the London Bullion Market Association (LBMA), and its subsidiary PAMP has been on the LBMA’s Gold List, widely recognised in the financial services industry as the indicator of quality, since 1987.
The London bullion market is a wholesale over-the-counter market for the trading of gold, silver, platinum and palladium. Trading is conducted amongst members of the London Bullion Market Association (LBMA), tightly overseen by the Bank of England. Most of the members are major international banks or bullion dealers and refiners.
PAMP SA is an independently operated precious metals refining and fabricating company and member of the MKS Group. It was established in 1977 in Ticino, Switzerland.
The following is a timeline of the history of the city of Dubai, United Arab Emirates.
Zabeel Park is an urban public park located in the Zabeel district of Dubai, United Arab Emirates. It is bounded by Sheikh Rashid Road to the north, the Sheikh Khalifa bin Zayed Road to the northwest, while the Sheikh Zayed Road cuts through the south. The park is divided into numerous sectors connected by pedestrian bridges, and there are multiple entrance gates. The Dubai Frame is located inside the park.
Valcambi is a precious metals refining company located in Balerna, Switzerland, and a subsidiary of Rajesh Exports Limited. Valcambi is owned by European Gold Refineries, which is owned by Global Gold Refineries AG, which in turn is 95% owned by REL Singapore PTE Ltd. and 5% by Rajesh Exports Limited India. Valcambi is thus 100% controlled by Rajesh Exports, the parent company of REL Singapore.
Baird & Co. is the largest gold refiner and the only full-service bullion merchant in the United Kingdom. Founded by Tony Baird in 1967; Baird & Co. initially dealt in numismatic coins expanding into bullion bars and jewellery as time progressed. The company is headquartered in Hatton Garden, London, operating out of a 30,000 sq foot high-security refinery in Beckton and an international branch in Singapore.
Kundan Group was established in 1971 and is headquartered in New Delhi, India. The company has a multi-business portfolio inclusive of gold refinery, cosmetics, chemicals, polymers, agro-commodities, precious metals, petroleum products, energy, and the import of bullion and pharmaceutical items.
NA (2016–17)