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Spirit of Norway take the field as strong favouritesDubai: Spirit of Norway go in as strong favourites in the Honda British Grand Prix the fifth round of the UIM Class One World Powerboat Championship in Plymouth this week. Though Spirit of Norway lead the title race by 17 points, they have not had it going their way this season. And when the defending World Champions line up in Plymouth tomorrow, they will be wary of the threat that the list of would-be challengers is growing after each race this season. Midway through the 2006 season, with four races run, the championship is developing into one of the most unpredictable and compelling for many years. Five boats have taken either pole position and/or race wins so far. Spirit of Norway and King of Shaves, running the Lamborghini-Skema V12 and Foresti&Suardi-Roscioli Hotels with the Lamborghini-Scam V12 have set the pace in qualifying to grab pole position and Spirit, with Qatar 95 and Jotun, both running the Mercury Class 1 V8, taking race wins. 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. Bags full of possibilities for job creationJOB creation is often seen as requiring big projects, massive capital outlay or state intervention. Business and government overlook opportunities in the so-called second economy. Instead of pouring money into job creation, why not support and expand existing markets created by the entrepreneurial instincts of poor people? An excellent example of this is the Johannesburg cross-border retail trade sector, where more than half a million people are coming into the city each year to shop, bringing in between R15bn and R20bn a year. Figures from South African Tourism indicate that one third, or R15,7bn, of the total spend by domestic and international tourists in SA in 2004 was in Johannesburg. Of this, R5,7bn, or more than one-third, was from regional shoppers travelling overland to SA. read more. Work starts on IT PlazaFatima International has started preliminary work on its $68m commercial tower, IT Plaza, located at Dubai Silicon Oasis, according to Gulf News. The main building contract will be awarded shortly, with the 15-storey tower due for delivery in Q3 2008. . read more. Order on state-run units to be amended: Andhra CMHyderabad, Aug 2: Under attack from the opposition and Left on a controversial order on reforms in public enterprises, Andhra Pradesh Chief Minister Y S Rajasekhar Reddy today announced it would be amended to remove apprehensions about the retrenchment of workers."I have asked the chief secretary to study the order in depth and carry out needful amendments to dispel all doubts," Reddy told reporters here.Terming the opposition campaign against the order as "much ado about nothing", he said the order, issued by the Public Enterprises Department, had only talked about an action plan to improve the functioning of state-run units and mentioned an estimated figure of surplus staff."Let me make it clear that our government will not retrench any jobs nor will it close down any profit-making public sector undertaking. 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. Schneider slams GibsonNew York: Actor Rob Schneider publicly announced that he would never work with Mel Gibson due to the anti-Semitic remarks he made when he was arrested recently.According to hollywood.com, Schneider took out an ad in Variety titled "An Open letter to the Hollywood Community". It said: "I, Rob Schneider 1/2 Jew, pledge from this day forth to never work with Mel Gibson, actor-director-producer and anti-Semite." He went on to add that even if he were offered a role in "Passion Of The Christ 2" he would still turn it down. He also praised Hollywood talent manager Bernie Brillstein for publicly saying that he would refuse to work with Gibson. Schneider closed the letter by saying: "Of course that would only be after I talked with my financial backers. Some of whom share Mr. Gibson's hankering for a good bottle of tequila. read more.This is the business that we can help with. 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