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Foundations for Palm Jumeirah monorail to be completed soonDubai: The foundations for the path of the Palm Jumeirah's Dh900-million monorail transit system will be completed this month, according to Palm developers Nakheel. The 5.4km long transport system will run between the Gateway Station at the trunk of The Palm Jumeirah and the Atlantis Station on the crescent, calling at two intermediate stations on the way Trump Tower and Village Centre. Arabian Forasol, a UAE/Swiss company, has been awarded two piling packages for the Trump Tower station on the trunk and the Atlantis station on the Palm's crescent. Piling began on the crescent station this week and will start on the Gateway stop in September. The monorail will initially carry up to 2,400 passengers per hour per direction in four separate trains, each made up of three cars. read more. Work suspened at India Jute MillKolkata: Work at India Jute Mill at Srirampur in Hooghly district has been suspended since last night, with lower production being cited as the reason behind the management's decision.A suspension of work notice was put up at Arun Bajoria's India Jute Mill, which employs about 3,500 people."We came to know that India Jute Mill has been closed by the management late last evening. But reasons behind the move are yet to be known," INTUC leader Ganesh Sarkar said.According to workers, the management has cited lower production as reason for the decision."The mill management is trying to create trouble before a mass strike call by the jute mill unions against non-payment of arrears, including dearness allowance, which had been agreed upon by the mills," Sarkar alleged. . read more. Electrocutionist on course for Saturday's King GeorgeDubai: Electrocutionist is on target for Saturday's £750,000 King George VI And Queen Elizabeth Diamond Stakes at Ascot. Godolphin's Dubai World Cup winner came through his latest piece of work with flying colours and trainer Saeed Bin Surour reported: "He worked nicely and it's a case of so far, so good." Godolphin racing manager Simon Crisford added: "We were pleased with the way Electrocutionist worked and he is on course for the King George." Godolphin have a good record in the race, having won it five times in the past with Lammtarra (1995), Swain ('97-98), Daylami ('99) and Doyen ('04). Italian import Electrocutionist is a 5/2 second favourite to French raider Hurricane Run (5/4). The five-year-old found Ouija Board too strong in the Prince of Wales's Stakes at Royal Ascot last month after being behind in work at the time. read more. GNH signs $40m charter dealDubai: Gulf Navigation Holding (GNH), an oil and chemical carrier, and ST Shipping and Trading, Switzerland-based Glencore's shipping arm, one of the largest oil trading houses in the world, have signed a time charter agreement for three ships at Dh145 million ($40m). Under the terms of the agreement, GNH will time-charter two ships to ST Shipping and Trading for up to two years under long-term fixed rate employment, and a third at a floating market rate with a fixed minimum charter rate. The vessels are double hull, 48,000 metric tones deadweight each and have liquid capacity of about 50,000 cu m. The vessels are capable of speeds up to 15 knots. Ghazi Al Ibrahim, managing director and chief executive officer (CEO) of Gulf Navigation Holding said: "The confidence Glencore has placed in us through this deal reflects the credibility of our operations as a global operator." Gulf Navigation is now amid an initial public offering of Dh910m, to list on the Dubai Financial Market. read more. Viola brewing up desert stormTHE irony of a boy from Easterhouse conducting high-stakes global business from his luxury apartment in the Dubai Marina has not escaped John Viola. One of Scotland's busiest football representatives may have left his Bothwell base behind two years ago but reports of his professional demise have been greatly exaggerated. Barry Ferguson's long-serving agent and close friend opted for a drastic lifestyle change as the harsh financial reality of Scottish football finally bit. Yet far from indulging in the opulence of the millionaires' playground of the Middle East, Viola has never been busier. As well as operating a burgeoning property business in tandem with Derek Whyte, Viola is also a driving force behind the country's football boom. Once a salubrious retirement home for the likes of Gabriel Batistuta and Ronald De Boer, the Dubai soccer league has recently turned professional and, therefore, more discerning in its import policy. read more. United Bank Limited announces strategic initiatives in the Middle East and network expansion in new territoriesUnited Bank Limited (UBL), 51 percent owned by a consortium of Abu Dhabi Group led by H. H. Shaikh Nahayan Mabarak Al Nahayan, Minister of Higher Education and Scientific Research, Government of UAE, who is also the Chairman of the Bank and Bestway Group of UK headed by Sir Mohammad Anwar Pervez OBE, the Deputy Chairman of the bank, today announced its strategic initiatives in the Middle East and network expansion in new territories. . read more.We are committed to consolidate the most informative details out there to you in a single easy to use web site. 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