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Natural history of the UAE,
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THE ECONOMY - ECONOMIC INFORMATION
 UAE to forge closer economic ties with Poland
Posted on 09/02/2010
The UAE Minister of Economy, HE Sultan Bin Saeed Al Mansouri, has hailed the recent visit of a UAE delegation to Poland as a valuable step forward in economic relations between the two countries.
Al Mansouri said, "Poland and the UAE share considerable common ground on a variety of important economic issues, and we expect even closer cooperation and more mutual investment opportunities as an outcome of this extremely fruitful meeting. This exercise has underlined the attractiveness of the UAE
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![]() Dubai Department of Economic Development issued 11,635 licences in 2009
Posted on 08/02/2010
The Dubai Department of Economic Development (DED) announced that the Dubai's economic activities in 2009 continued to surge, highlighting the investors' trust in the economic opportunities available in the emirate and the UAE.
The DED issued 11,635 licences for various businesses in 2009. The majority of these were issued in the commercial sector recording a 76 per cent increase, followed by the professional sector (22 per cent), industrial (one per cent) and tourism (one per cent). The DED
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 Inflation in UAE hits nine-year low
Posted on 08/02/2010
The UAE inflation hit a nine-year low of 1.5 per cent in 2009, in line with forecasts, as prices returned to a downward path in December due to a fall in the household category, preliminary data showed yesterday. The global financial crisis ended an oil- and real estate-fuelled boom in the Gulf, depressing consumer prices from record peaks set in 2008, with some countries such as the UAE experiencing temporary deflation in 2009. The UAE's consumer prices fell 0.4 per cent on an annual basis in
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 Abu Dhabi to set new growth target
Posted on 03/02/2010
Abu Dhabi won't reach its growth target of 7 per cent this year, as stipulated in the emirate's 22-year economic plan, said Mohammad Omar Abdullah, undersecretary at Abu Dhabi's department of economic development.
"We have to make downward adjustments in terms of the growth," Abdullah said in an interview on Tuesday in Abu Dhabi. "The average growth will be 6 to 7 per cent according to the vision; this will not be the case," he said. He was referring to this year, the department said.
The
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 Ministry of Economy reports Dh125 billion in private equity capital
Posted on 01/02/2010
The Ministry of Economy has released figures showing that 131 private equity firms were operating in the UAE at year-end 2009, with capital of Dh126 billion, (Dh116 billion as paid-up capital).
According to the report, six companies have increased their capital in 2009 to reach an amount of Dh599 million representing 25% increments.
A total of sixty-nine companies with paid-up capital of Dh19 billion were operating across a number of sectors in Abu Dhabi, while Dubai registered 47
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 Polish President honours UAE Minster of Economy
Posted on 31/01/2010
Warsaw - Poland's President Lech Kaczyski has honoured HE Sultan Saeed Al Mansouri, UAE Minister of Economy, with the Commander's Cross with the Star of Order of Merit of the Republic of Poland.
This honour is being conferred for the first time at a ministerial level. Waldemar Pawlak, Polish Deputy Prime Minister and Minister of Economy, presented the honour to Al Mansouri, who headed a UAE delegation to Poland.
The delegation held discussions with the Polish officials, suggesting proposals
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 Economy minister meets Polish officials
Posted on 28/01/2010
Economy minister H.E. Sultan bin Saeed Al Mansouri, who is currently visiting Poland, held talks today with a number of Polish officials.
Al Mansouri said Poland was considered a key economic, tourist and strategic destination. He added that during his talks with the officials here, 55 Polish companies expressed desire in setting up joint ventures with their Emirati counterparts in the fields of petrochemicals, manufacturing industries, agriculture and steel.
The Polish officials met by Al
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 UAE scores high in economic freedom
Posted on 24/01/2010
Economic freedom – ease of doing business – improved further in the UAE last year, as its overall score was higher than the global and regional averages, reflecting improved sentiments particularly in business freedom, investment freedom and property rights, said a survey.
The 2010 Index of Economic Freedom published by Washington-based Heritage Foundation and the Wall Street Journal has ranked the UAE as the 46th most economically free country, registering an increase of 2.6 points to 67.3
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![]() Ministry of Economy registers 4198 trade agencies until December 2009
Posted on 21/01/2010
The Ministry of Economy yesterday revealed that 4,198 trade agencies have registered with the Ministry until December 31, 2009, with 349 new agencies registering last year.
Hamid Bin Butti, Executive Director of the Commercial Affairs Sector at the Ministry, said that of the 349 agencies registered in 2009, 208 are based in Abu Dhabi; 121 in Dubai and 20 in Sharjah and other Northern Emirates. He said that of the total registered agencies, 2550 were in Abu Dhabi, 1474 in Dubai and 147 in the
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 Minister of Economy discusses cooperation with Finnish counterpart
Posted on 20/01/2010
H.E Sultan bin Saeed Al Mansouri, Minister of Economy met yesterday with his Finnish counterpart Mauri Pekkarinen, who is leading a delegation on a visit to the UAE.
Present was Matti Lassila, the Ambassador of Finland to UAE. During the meeting, Al Mansouri welcomed the Finnish delegation, expressing UAE's desire in developing the economical cooperation with Finland. They also discussed ways of boosting future cooperation between UAE and Finland, as well as means to enhance economic
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 UAE economy set for 2.5% growth
Posted on 19/01/2010
The UAE's gross domestic product (GDP) in real terms will grow 2.5 per cent this year, according to a report released yesterday by Shuaa Capital, a regional investment bank.
Speaking at a press conference, Mahdi Mattar, head of research and chief economist at Shuaa Capital and the author of the report, said that the growth will be led by Abu Dhabi as it benefits from a recovery in oil prices and production.
Strong growth in the non-hydrocarbon sector supported by government investment and
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 IMF to produce UAE economic assessment
Posted on 13/01/2010
The IMF says it will produce an assessment of the UAE's economy after a delegation from the institution concluded meetings with key government officials about the country's growth prospects.
A Central Bank official described the regulator's meetings with IMF representatives as productive, as the two sides discussed significant economic events of the past year and the outlook for this year.
During the visit between January 3 and 11, the delegation also met with officials from Dubai's
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 Q4 to bolster 2009 results
Posted on 12/01/2010
The fourth quarter performance of UAE corporates is likely to indicate recovery in late 2009 and improved earnings for the first quarter of 2010 as telecom, banking and realty companies are projected to announce encouraging results with minor exceptions to some select companies.
Telecom companies will emerge as top performers, while Abu Dhabi-based banks, with an exception to ADCB, are expected to post positive results for the fourth quarter, according to data collected by Emirates Business
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![]() Economy Ministry to publish amendments to industrial property law
Posted on 11/01/2010
The Ministry of Economy has announced plans to publish proposed amendments to the industrial property law no. 31 for 1996 on its website, inviting comments and suggestions from the stakeholders, experts and specialists. The Ministry's Under secretary Mohammed Ahmed bin Abdul Aziz Al Shihi said the amendments were aimed reforming industrial legislations to become in tune with the agreements signed by the UAE within the Trade Related Aspects of Industrial Property Rights (TRIPS) agreement. He
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 Positive forecasts for UAE economy
Posted on 10/01/2010
The UAE economy is expected to grow by up to five per cent in 2010 after a sharp slowdown in growth last year because of a steep fall in crude prices and production, said a semi-official study.
Analysts said the growth target in 2010, projected by the government-controlled Emirates Industrial Bank (EIB), could be achieved given the expected expansion in non-oil sectors, and the increase in oil prices and the UAE's crude output.
But the London-based Economist Intelligence Unit (EIU) appeared
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