Ben Alton gave the morning devotional. He talked about righteous desires to overcome difficult challenges and be all we can.
“Redeemer of Israel” was the opening song.
DIFC – Dubai International Financial Center was originally created to build an international financial center that could have its own laws. We were addressed by Rebecca who reports direct to Jeff Singer. She is super sharp and articulate. She studied finance and law in the UK and married an Emirati, who now has citizenship. One of their big concerns is that Abu Dhabi recently announced they are going to build a financial center. The competition will be a challenge because they don’t see any real ability to differentiate offering or services. They can really only rely on first mover advantage and the Dubai lifestyle, which is more tall-building and leisure activities. The challenge is those can be duplicated. It will be interesting to see how this plays out.
What a beautiful building and great conference room. These guys do it right! They move so many containers and ships around the world; the logistics are incredible. They are going to expand the port to move two times the current capacity in the next 20 years. The size of ships has gone from 5,000 to 40,000 tons in the last 15 years and they expect to get 80,000 in the next couple of years. They provide lunch and it was amazing!!!
Did a bus tour of the ports and ships. Wow, these things are huge!
Burj Al Arab – Jumeirah Group:
Clayton the COO spoke to us about the history of the group. they had us in a really nice room on the top floor with great hors d’oeuvres.
His best point was that in every culture members must at some point submit to that culture if they are going to be effective in it. We got a tour of some rooms. They are incredibly large and decadent.