"The whole earth is in jail and we're plotting this incredible jailbreak". - Wavy Gravy

Home

Blog

UAE Facts

CASE Diary

Site Responses

UAE Economy

UAE Judiciary 

UAE Constitution


UAE Disputes

UAE History

Environmental Rights


UAE Wealth Funds

Free Trade Pacts

Business and Rights

General Information

 

Location Map
 
Supreme Council

UAE Ministry

Zayed Centre
   
Official  Addresses

Press Reports


Support Us

Our Sponsors

Feedback

Site Map

Links
 

Special Features

 
The Spying Issue 
 
Stop Port Deal
The Port Deal
Dubai Ports World
Horror Facts
Port Deal Images
 
Special Features
 
Human Trafficking
Camel Kids
The Facts, Child Jockeys
Victims of Injustice
 
Free Speech Issue
 
Internet Filtering - UAE
UAE Hackers
 
Free Trade Issue (FTA)
 
Free Trade USA - UAE
Migrant Workers
 
The Child Rights Issue
 
Special Reports  -  2005
Special Reports  -  2004
Special Reports  -  2003
 
The Islands Issue
 
Claims Three Islands
Abu Musa
Greater & Lesser Tumbs
History of  Islands
 
The ZCCF Issue
 
Zayed Centre
 
Gulf War - I & II
 
Gulf War
War History
UAE Participation
 

 

News Online


Washington Post
New York Times
Los Angeles Times
India Times
Khaleej Times
Gulf News

More Links

Useful Links

  
 Child Slavery Lawsuit
 Port Deal Images
 The Horror Facts
 Free Trade USA - UAE
 Migrant Workers

     UAE FACTS
     RESPONSES
     HUMAN TRAFFICKING 
     CAMEL KIDS
     PRESS REPORTS
    VICTIMS

 

  

Travel & Tourism



 

'UAE Wealth Funds'
The sovereign wealth funds - United Arab Emirates


The sovereign wealth funds accumulated by oil-rich Arab sheikdoms is reported as much as $4.5 trillion to $7 trillion today. The exact amount is impossible to ascertain due to lack of their transparency and accountability.

Abu Dhabi is the largest and wealthiest of the seven emirates in the UAE. It owns 10 per cent of the world's proven oil and gas reserves. The emirate owns 95 per cent of the oil and gas reserves of the UAE. The country is presently earning record oil revenues rolling in at a rate of $225-million (U.S.) a day.

Abu Dhabi Investment Authority, the world's largest government controlled investment pool, is estimated to have assets worth over $1000 billion (U.S.). The emirate is controlled by Sheikh Khalifa bin Zayed Al Nahyan, son of late dictatorial ruler of United Arab Emirates 'Sheikh Zayed bin Sultan Al Nahyan". ... More (UAE Facts)




BACKGROUND:


AB 1967 would have prevented California's retirement systems from contributing to regimes with terrible human rights records by making new investments or renewing investments with private equity firms such as the Carlyle Group, which is partly owned by a sovereign wealth fund affiliated with the UAE.


There is growing concern among elected officials and the public about sovereign wealth funds (i.e. government investment vehicles), in particular about these funds' frequent lack of transparency and about the advisability of foreign governments having ownership stakes in defense companies and critical infrastructure such as roads, bridges and airports. There is also concern that sovereign wealth funds may be more likely to invest in order to achieve political rather than profit-maximizing goals, increasing the risk of financial instability. In addition to the heightened risks these investments face, it is unconscionable for California to invest the retirement funds of its public workers for the benefit of egregious human rights violators. Many sovereign wealth funds are affiliated with and earn profits for governing regimes with human rights records that are among the worst in the world.


Three of the largest sovereign wealth funds, which together control more than $500 billion in assets, are affiliated with the United Arab Emirates, an emirate whose government, according to the State Department, has "severely restricted workers' rights" The State Department has also cited evidence of "significant additional human rights problems" in the United Arab Emirates, including arbitrary and incommunicado detention, human trafficking, legal and societal discrimination against women, and government-imposed restrictions on civil liberties, among others.


Public retirement systems in California currently invest with the Carlyle Group, a Washington D.C. based private equity firm. In 2007, the Carlyle Group sold a 7.5% stake in its management and operations to the Mubadala Development Company, an arm of Abu Dhabi, one of the seven countries that comprise the UAE. In addition to the $1.35 billion investment, the Abu Dhabi fund agreed to invest a further $500 million into Carlyle's buyout funds. AB 1967 would prevent California's retirement systems from undermining human rights by making new investments or renewing investments with private equity firms such as the Carlyle Group, which is partly owned by a sovereign wealth fund affiliated with the UAE.


SEIU is 1.9 million members united to improve services not only in our communities throughout North America but also with our counterparts around the world to help ensure that workers, not just corporations and CEOs, benefit from today's global economy.

000000

UAE. Human rights campaigners have called on the Scottish parliament to prevent Dubai from investing in one of Scotland's most prestigious golf courses because of alleged "abuses of its migrant workforce".

The UAE government-owned Dubai World is negotiating to buy part of Turnberry in Ayrshire, which is due to host next year's Open Championship. There is also speculation it wants to take over the Gleneagles and Loch Lomond resorts in a US$800 million deal.

But the author of a damning report into the welfare of Dubai workers from India, Pakistan, Sri Lanka, Nepal, China and the Philippines claimed that Scottish ministers have a moral obligation to force the Emirates to address the abuses before any deal is concluded.

Human Rights Watch concluded that many of the 700,000 poorly paid foreigners lured to the region by loans from employment agents to pay for their passage have to repay them at exorbitant interest rates. They sometimes live 20 to a room in labour camps and many have their passports held in bond by their employers.

The report said that migrants have no access to trade unions or collective bargaining to improve wages and conditions and are banned from one year from working in the region if they go on strike.

The UAE is preparing legislation related to regulation of trade unions and permitting organised collective bargaining.

The local Labour MP Sandra Osborne is to write to the UK Foreign Secretary David Miliband, Trade Secretary John Hutton and the UK ambassador for the region on the issue.

Human Rights Watch said that not a single employer has been investigated by the government or threatened with fines over failure to pay wages.

A spokeswoman for Leisure Corp, responsible for Dubai World's golf portfolio, said: "We and all our contractors abide by the rules in place in this market, which ensure that workers' living and working conditions are at acceptable levels."



1-boycott-socialist  1-boycott-socialist2  1-boycott-socialist3  environmental_issues

environmental_issues2  environmental_issues3  environmental_issues4

environmental_rights1

Read More at: The IPCC

 


 

Find More Responses Here


Top

 

Google
  Search Web Search UAE Prison









Find More Responses Here


Top


HOME ABOUT US  OVER VIEW ARTICLES l  NEWS LETTER  SPONSORSHIP  l  CONTACT US 
 WEBSITE STATISTICS   TERMS & CONDITION l  PRIVACY POLICY  DISCLAIMER
 
If you know someone in the United Arab Emirates who would like their story on the web, please contact us with relevant details. We are committed ourselves in highlighting
the trauma and pain felt by the helpless victims.
Mailto:info@uaeprison.com
 
We also very much welcome your feedback. Or send your comments
and suggestions to:
mail@uaeprison.com


Powered by Mint Valley Technologies (P) Ltd.




This site is best viewed in  800 X 600 resolution and optimized for 
Microsoft Internet Explorer
however, it is still Netscape Friendly.

View My Guestbook     |       Sign My Guestbook

 


 


MINTVALLEY GROUP OF WEB SITES, SPONSORS &  PARTNERS

E-Tourism
Airlines India
  ;  Cruise Lines India  ;  Indian Islands  ; Yachts India Scuba India.  ;  Travels India     Beaches India  ;  Water Sports India  ;  Taxi India  ; Kadmat  
Kerala Tourism  ;  Trains India  Kashmir Tour Home stays India  ;  Hotels Lodges   ;  States America  ;  Asia Malaysia Marinas Asia ;   Monsoon World
Tourism Yellow Pages  ;  Cruise Lines Asia
  ; Emerald Islands   ;  Laccadive ;  Harbour Marina Tinnakara ;  
Oceanarium.in  ;  B2BTravels
Oceanarium.biz  ;  India Maldives  ;  B2Bscuba B2BAyurveda ;  MintValley Travel 
 
E-Business
MintValley
  ;  Vallarpadam ; Vypeen  ; AC IndiaStates IndiaOffices IndiaStores India  ;  Works IndiaB2B Kerala ; Boats Kerala ; B2B Career
Kochi Times  ; Properties KeralaProperties Karnataka ; Maharashtra PropertyIndia UAEPhones Mobiles  ;  B2B UsB2B Bahrain Ports Asia  
 
Ports India ; 
India Russia  ; Kakkanad ; O Industry ; Commerce Dubai Orchids India ; JobsRs ; Web 2 Freelance ; Web2.0 Industry

HVAC, Energy & Science
HVAC
Earth ;  B2B Earth ;  Aircons  ;  Split AC  ;  Gas India  ;  Grills India  ;  HVAC SAUDI  ;  HVAC UAE  ;  HVAC Middle East
B2B Life ;  HVAC UAE Premier  ;  Aircons International Astronomy USA  ;   Robots India  Astronomy India 

Legal & Rights
Lawyers India ; Police India  ; India RightsLegal Cell ; Asia Rights ; UAE Human RightsDuty Doctor ; Earth Packages
Niyama Sameeksha ; 
PBD IndiaBoycott UAE ; Juris Consult UsSpirituality India

B2B Group And More
  Outsourcing B2B Integration (B2B) | A Virtual Office that serve Virtually all Needs! | Port Based Industries Vallarpadam and Vypeen
The Exotic and Natural Blends! |The Colorful Tropical Flowering, The Emeralds! | The Wonders of The Sea!
Protect the Environment. Our Earth is in serious trouble! 
Sponsors & Partners Updates!

 



 


The UAE Facts
   UAE FACTS
   Responses Main
  Response Archives

The Child Slavery Issue
 Child Slavery Lawsuit

The Spying Issue
10 Smart Reasons to STOP Port Deal!

   The Port Deal
  Dubai Ports World
   The Horror Facts
   Port Deal Images

 Free Trade Issue
   Free Trade USA - UAE
   Migrant Workers

 Free Speech Issue
   Internet Filtering - UAE

 Human Rights Issue

  HUMAN TRAFFICKING
  CAMEL KIDS
   HINDUSTAN TIMES
  THE PIONEER
  PEOPLE SPEAK
  MORE REPORTS

 The BCCI Issue
 
The BCCI Affair

  Victims Reports
 
VICTIMS OF JUSTICE
  
Response Main Page