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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. DIFX and Bahrain Stock Exchange sign Memorandum of UnderstandingA Memorandum of Understanding (MoU) was signed today between Bahrain Stock Exchange (BSE) and Dubai International Financial Exchange (DIFX) to develop and strengthen capital markets activity in the region. The MoU was signed by Fouad Rashid, BSE's Director, and Nasser Alshaali, Chief Operating Officer of the DIFX. The MoU aims at strengthening and increasing cooperation between both parties in areas relating to exchange of expertise and information by both parties. The MoU will work on increasing awareness among both parties market participants regarding the legal framework and investment opportunities available in both bourses. It also encourages listed companies in both stock markets to cross list their securities. The MoU encourages both parties to jointly organize training programs and enhances relations and cooperation between market participants operating on both stock exchanges Mr. read more. Grand Hyatt DubaiI drove up to one of Dubai's newest luxury hotels, the Grand Hyatt Dubai, with it's towers majestically standing watch over the edge of the emirate's historic creek. The hotel is a combination of resort facilities, luxury hotel guest rooms and suites, residential apartments and I'm told, one of the most advanced conference centres in the Middle East, all set within a lush oasis of 37 acres of landscaped gardens. The hotel claims it offers a first for a Dubai hotel - the concept of a city resort which includes first-class recreational facilities such as a Zen-inspired Grand Spa, tennis centre, indoor and outdoor swimming pools and jogging track set, and yet the hotel is situated close to the city centre, and just minutes from Dubai International Airport. The property has 674 hotel guest rooms and suites, luxuriously appointed and classically-styled, each providing ultra-modern digital technology and communications. read more. Kerala CM express hope on Smart City projectAn agreement with Dubai Internet City (DIC) for setting up the controversial 'Smart City' project in Kochi could be finalised within a month, state Chief Minister V S Achuthanandan said. "Both sides are hopeful that an agreement could be possible in a month," Achuthanandan told reporters here after holding talks with the DIC representatives here. Asked whether the project would be on joint venture basis as suggested by the previous UDF government, Achuthanandan said options were open in this regard. "DIC could implement the project on their own," he added. Talks with DIC were similar to the ones the government was holding with other major IT companies, he said, adding many IT majors have shown interest in setting up their arms in Kochi, considering the strategic importance of the city. 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.We want to invite you to stop back soon and view the additional information we'll have. 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