Archive for: ECONOMY

Growing UAE-Italy trade to boost MICE industry

Growing UAE-Italy trade to boost MICE industry

UAE-Italy bilateral trade stood at Dhs. 25.7 billion in 2014 Expo Centre CEO Attends UFI Meeting, Visits UAE Pavilion at Expo Milano The exhibitions and meetings industry has a lot to gain from the growing trade and business relations with the UAE and Italy, a leading trading partner of the […]

 
 

Iran Nuke Deal brings cheer for Auto industry

Iran Nuke Deal brings cheer for Auto industry

Iran at the crux of opening up for business again, huge potential for Auto One of the best things that the recent nuclear deal is spelling out for Iran is the phasing out of economic sanctions. Once the sanctions are lifted, and the economy is thrown open for business again, […]

 
 

A Greek Tragedy

A Greek Tragedy

Op-Ed by Steen Jakobsen, Chief Economist of Saxo Bank This is now officially a Greek tragedy. In many ways, it is relatively easy to understand why the result was a No from Greece. There is little to lose, as a Yes to more austerity hardly was a great choice for […]

 
 

UAE PMI falls to a near two year low

UAE PMI falls to a near two year low

Latest Emirates NBD data shows that the UAE PMI has fallen to a near two year low, signaling sluggish economic growth UAE non-oil private sector economy dropped to a 22-month low of 54.7 in June, down from 56.4 in May Non-oil private sector firms in the UAE reported the weakest improvement […]

 
 

UAE and Saudi Arabia continues to grow despite lower oil prices

UAE and Saudi Arabia continues to grow despite lower oil prices

UAE and Saudi Arabia continues to grow despite lower oil prices, according to the latest Macro report from Crédit Agricole Private Banking  UAE new orders grow, and job creation hit three-month high in May’15 Saudi Arabia’s output and new orders expanded, but the growth rate eased GCC consumers to benefit […]

 
 

Top 5 Service Sectors of Dubai [Infographic]

Top 5 Service Sectors of Dubai [Infographic]

“Dubai has continued to focus on its core strength -services. From retail and real estate to maritime transport, tourism and financial services, the emirate’s economy and key services sectors are in full flight.” ~ Oxford Business Group says in their latest report “The Report: Dubai 2015“. Infographic: Top 5 Service […]

 
 

Qatar to grow at 7.3% in 2015

Qatar to grow at 7.3% in 2015

Qatar to post strong growth in 2015 backed by expansion of the non-hydrocarbon economy and the Barzan gas project. GDP might taper in 2016 and 2017. Qatar’s economy is expected to register a real growth of 7.3 percent in 2015, driven by gathering expansion of the non-hydrocarbon economy and a […]

 
 

UAE turns into an economic power throughout 10 years

UAE turns into an economic power throughout 10 years

GDP rose from 314.81 billion dirhams to 1.54 trillion dirhams in the last 10 years A new report by “HotelandRest” stated that the United Arab Emirates, over the past ten years under the leadership of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, has turned into a […]

 
 

Emirates NBD lists $500 million bond on NASDAQ Dubai

Emirates NBD lists $500 million bond on NASDAQ Dubai

Prominent banking group is now largest issuer on the exchange by total value of conventional bonds, at 2.25 billion dollars Bond underlines the exchange’s growth as centre of fixed income activity His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD, today rang the market-opening bell to celebrate […]

 
 

Government IT Spending Fuels Saudi Arabia’s Innovation Economy

Government IT Spending Fuels Saudi Arabia’s Innovation Economy

Massive Government ICT investments transforming Saudi Arabia’s innovation economy, enhancing development, business growth and productivity. Saudi IT Market Set to Top USD 14 Billion by 2017with Government Sector Fastest-Growing Industry Vertical: IDC More than 500 of Kingdom’s Organisations Set to Attend GITEX Technology Week 2014 Government ICT investment is transforming Kingdom […]

 
 

World Cup boost Dubai’s Food Retail Sector

World Cup boost Dubai’s Food Retail Sector

Findings Confirm Positive Impact of Soccer World Cup on Dubai’s Food Retail Sector Soccer World Cup has kick started in Brazil and the next one month will keep billions of fan across the globe shuttle to and fro between high waves of enthrallments and disappointments.  Nevertheless, this mega event of […]

 
 

Philippines to become trillion dollar economy by 2030

Philippines to become trillion dollar economy by 2030

Philippines economy to more than double over next decade, says IHS research. According to the World Bank, Philippines has been among the emerging markets in the region given its sound economic fundamentals and highly-skilled workforce. The economy of the Philippines is the 4th largest economy in South East Asia and the […]

 
 

IHS Forum Identifies Key Points for Middle East Economic Growth

IHS Forum Identifies Key Points for Middle East Economic Growth

As far as economic prosperity is concerned, one doesn’t have to look towards the otherwise conventional Western countries nor towards the Far East, in China. It’s in the Middle East that the treasure trove of economic prosperity lies with new highs being expected in the forthcoming two decades. Scott Key, […]

 
 

Beyond: A Time lapse Journey through the UAE

Dubai topped the list for the best place to work, ahead of others such as New York, Hong Kong, Singapore, London and Paris

Beno Saradzic’s work shows never-before-seen pictures of Dubai and Abu Dhabi that explain the regions’ development through the lens of the camera. What laymen know about photography can pass through the eye of a needle. There’s more to photography than merely clicking pictures and then throwing them away if the […]

 
 

Defence Outlays Decrease Globally, Spike in Middle East: SIPRI Survey

Defence Outlays Decrease Globally, Spike in Middle East: SIPRI Survey

Defence expenditure forms one of the core fiscal expenditures of countries with millions of dollars being spent by governments to ensure that their defence system is up-to date and bolstered with highly refined arsenal. Defence expenditures aren’t however mindlessly carried out, but are carefully applied strategies that are subject to […]

 
 

Middle East Nations Capitalise on Liquidity and Stock Sizes to Attract More Foreign Investors

Middle East Nations Capitalise on Liquidity and Stock Sizes to Attract More Foreign Investors

The economic boost in the Middle East has also extended to the stock market and stock market indices in the region. Most significant in this context are the stock markets in the UAE and Qatar which have gone up substantially since the provisional list of stocks was released by MSCI […]

 
 

The African Economic Safari: Booming Onwards

The African Economic Safari: Booming Onwards

African economy is gearing up for unprecedented boosts thanks to boosts in the form of vital FDI, PEs and SWFs. The National Bureau of Statistics quite recently published the report on the Nigerian economic rebasing endeavour which put the West African country’s GDP ahead of South Africa, making it the […]

 
 

The Yakutian Advantage: Investing in the Far-East Singularity

The Yakutian Advantage: Investing in the Far-East Singularity

8th April 2014 will see the commencement of the Annual Investment Meeting (AIM) in Dubai which will see delegates from all over the world, including the Sakha Republic of Russia, for whom this meeting is an inaugural participation. Otherwise colloquially known as Yakutia, the Sakha Republic is located in far-east […]

 
 

The Bigger Picture: Nigeria pips South Africa to become Africa’s Biggest Economy

The Bigger Picture: Nigeria pips South Africa to become Africa’s Biggest Economy

Nigeria has pipped South Africa as the largest economy in Africa in terms of GDP figures as per the recently published report of the National Bureau of Statistics carried out after the rebasing exercise of the Nigerian economy. As per the released report, the Nigerian GDP for 2013 stands at […]

 
 

Challenges remain for doing business in GCC

Challenges remain for doing business in GCC

EIU’s report on Business Environment in GCC Countries indicates quite a revelation even as the region continues to display positive economic trends As country after country across the globe found itself plummeting from the pedestal of business and economic security, it looked as if the Middle Eastern countries – most […]

 
 

Middle East and Africa’s M&A deals halved in Q1 2014

Middle East and Africa’s M&A deals halved in Q1 2014

Whilst a majority of corporate sectors have indeed posted increased sales for the first quarter in 2014 in Middle East and Africa (MEA), there are nonetheless a few sectors that have had a dip in their sales activities. One of those few domains whose sales activities that have taken a […]

 
 

Dubai Duty Free sales rise 10% in 2014 Q1

Dubai Duty Free sales rise 10% in 2014 Q1

Dubai Duty Free Records 10% Increase in Sales Activities in Q1 2014 Dubai’s Airport Terminal 3 contributes 62% of the overall sales Sales figures and tabulations for the first quarter of sales activities for 2014 have been released by all leading corporates and companies. Dubai Duty Free has posted its […]

 
 

IATA Report Indicates Stronger Aviation Demand in the Middle East

IATA Report Indicates Stronger Aviation Demand in the Middle East

Statistics for commuter traffic for February, released by the International Air Transport Association (IATA), showed a surge in the demand for the aviation transportation with a percentage increase of about 5.4 percent. This increase has been placed in context to the commuter traffic trend for February, in the previous year. […]

 
 

The Future of Aviation Sector: the UAE and BRICS Strategic Alliance

The Future of Aviation Sector: the UAE and BRICS Strategic Alliance

The aviation and aeronautics domain is one that countries look to solidify as a mark of their proclaiming their presence in the biggest of economic stages in the world. Predominantly the most developed countries in the world are regarded to be pioneering leaders in the aviation sector, creating unprecedented commercial […]

 
 

Dubai amongst Global Metropolises with Stronger Economic Trends

Dubai amongst Global Metropolises with Stronger Economic Trends

JLL Survey Highlights Dubai amongst Global Metropolises with Stronger Economic Trends In order to determine and map out the futuristic developmental trends of leading metropolises, leading global property consultants, Jones Lang LaSalle (JLL) carried out the first City Momentum Index (CMI) analysis across 111-major cities across the world. The CMI […]

 
 

Dubai World Expo 2020: Towards Connecting Minds as One Fraternity

Dubai World Expo 2020: Towards Connecting Minds as One Fraternity

The concept of World Expos predates to the mid-19th century with the inaugural Great Exhibition conducted in London in the year 1851. Since 1928 however, World Expos have been conducted by the Bureau of International Expositions (BIE) head-quartered in Paris, France with bids and tenders invited from all countries. SEE […]

 
 

Stimulus to Dubai Medical Tourism: DHA Unveils New Healthcare Initiative

Stimulus to Dubai Medical Tourism: DHA Unveils New Healthcare Initiative

DHA has come up with an innovative plan to step up Dubai medical tourism sector. Dubai attracts millions of tourists from all over the world who come to see the fusion of modernity and traditionalism that prevails all over the region. But there are various dimensions to the tourism aspect […]

 
 

Middle East and Africa Lead in IT Infrastructure Spending: More Revealing Gartner Trends

Middle East and Africa Lead in IT Infrastructure Spending: More Revealing Gartner Trends

Middle East & Africa IT Infrastructure Spending will Reach $3.5 Billion in 2014 Towards the end of the 20th century – the 1900’s so to speak – there emerged this new fad to call the new millennium as ‘Y2K.’ It was a technological reference that eluded many except for those […]

 
 

Dubai Most Expensive for Rental Property Investment in the Middle East: Latest Survey Reports

Dubai Most Expensive for Rental Property Investment in the Middle East: Latest Survey Reports

Dubai is the most expensive region for expatriates to rent properties with 30% increase in rental property rates What’s the next best thing to do if we aren’t able to afford our ‘dream home’ in an exquisite foreign location? Of course, try and rent our dream palazzos! But even renting […]

 
 

Gold Demand Soars in Asia: WGC Expects Positive Trends to Continue

Extraction and production of the precious yellow metal gold by Turkey has increased by 43% to 24.4 tonnes in 2011 compared from a year ago. Photo - Reuters

Gold – the yellow metal that’s as priceless as the word can imply. Everyone wants to own gold, wants to buy it as an investment for the future. But not many do manage to invest in gold thanks to its ever-increasing prices. And the ones who do are quite careful […]

 
 

Commerce Activities in Dubai Surge: Brighter Times Await in the Horizon

Commerce Activities in Dubai Surge: Brighter Times Await in the Horizon

Dubai’s economy is bouncing back with latest trade figures revealing that Dubai’s trade grew exponentially to over 1.32 trillion dirhams (about US$ 362 million) in 2013, leading to a growth of about 7.6%. Regarded to be one of the richest regions in the oil-laden Middle East, the UAE and in […]

 
 

Jet Etihad Airways’ strategic alliance troubled by newer speed bumps

Jet Etihad Airways’ strategic alliance troubled by newer speed bumps

Jet Etihad deal encounters yet another problem with reports emerging about envoy intervention in the passing of the deal The strategic alliance between India’s leading airline operator Jet Airways and Abu Dhabi’s premier aircraft services, Etihad Airways was touted to be the revolution to spark the entire Indian aviation sector. […]

 
 

S&P Reaffirms Kuwait’s ‘AA’ Rating: Oil Reserves ‘Stabilise’ Outlook

S&P Reaffirms Kuwait’s ‘AA’ Rating: Oil Reserves ‘Stabilise’ Outlook

S&P reaffirms Kuwait’s AA rating and has given the country a ‘stable’ lookout thanks to its existing resources of crude oil. Amidst the growing turmoil that some countries are facing with regard to their credit rating in the international market, Standard and Poor (S&P) one of the world’s biggest credit […]

 
 

Global Economy on the Uptick – Chief Economist

Global Economy on the Uptick – Chief Economist

Overall Global Economy to See 3.3% Growth in 2014. IHS Top10 Predictions foresees an end to “wallowing in an economic soft patch.” After wallowing in an economic “soft patch” for the past two years, the global economy is likely to emerge in 2014 with modest growth of 3.3 percent compared […]

 
 

The power of Draghi’s words

The power of Draghi’s words

Today’s ECB meeting and subsequent speech by Draghi will shape the future outlook in the markets and will define future policy directions. Words used by influential policymakers often work effectively to shape the future of the financial markets. ECB Chairman, Mario Draghi’s famous promise that Europe would not be left […]

 
 

Shinzo Abe’s tax hike gamble

Shinzo Abe’s tax hike gamble

Shinzo Abe’s sales tax hike is seen as a political and economic gamble but it is a necessary measure that will allow Japan to get its economy back on track. It seems that the much acclaimed Abenomics has managed to achieve another milestone with the passing of a national level sales tax. […]

 
 

Whom to Blame for Muslims’ Unending Nightmares

Whom to Blame for Muslims’ Unending Nightmares

Every now and then, you read some comments or hear people blaming Muslims and Arabs for the ongoing chaos and unending violence currently happening throughout the world. At large, people, mainly those living in the North Western hemisphere, criticize most of the Muslim world, Arab countries in particular, for being […]

 
 

The Economy – A Rising Tide Lifts All Boats

The Economy – A Rising Tide Lifts All Boats

As JFK said; “A rising tide lifts all boats.” As the world economy improves, regional economies are rising on a tide of success created in other countries. Now that we are living in an evermore globalized world, nations are no longer entities unto themselves. While they were once insulated from […]

 
 

Turkey’s economy at risk from political turmoil

Turkey’s economy at risk from political turmoil

The greatest immediate concern for Turkey is the economic one, specifically, what the current political troubles can do to the net flow of foreign portfolio investment. Central Bank of the Republic of Turkey (CBRT) Governor, Erdem Başçı estimated that from the beginning of May through to mid-June, USD  7.9 to […]

 
 

MENA to outpace global economy

MENA to outpace global economy

Despite facing challenges of a weak global economy and volatile domestic politics, the MENA region is showing robust economic performance. According to the QNB Group, the region’s economy will grow by 3.5 to 4 percent this year. Further improvements are expected in 2014 along with growth rates of 4.5 to […]