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THE ECONOMY - BUSINESS

UAE residents have positive perception of national well-being and businesses, with confidence in a bright future: survey

Posted on 16/03/2017

Residents of the United Arab Emirates have a resoundingly positive view of the country they live in and of the future, in stark contrast to views from other countries around the world. According to Brunswick Insight's global research, an overwhelming sense of well-being and security, trust in the capacity of business for doing good, and a burgeoning generation that is enjoying more financial stability than its predecessors, are some of the main factors underpinning optimism in the UAE. ...  >>MORE

Yachting industry one of main pillars for growth of Dubai’s maritime sector, says DMCA official

Posted on 28/02/2017

DUBAI, 28th February, 2017 (WAM) -- The yachting industry's importance to Dubai's maritime sector and the challenges facing the sector came under spotlight at the 2017 Middle East Yachting Conference held yesterday on Monday in Dubai. The yachting industry has proven to be one of the main pillars for the growth of Dubai's maritime sector and emerged as a main contributor to economic development, supported by leading initiatives that have had a great impact on the confidence of regional and ...  >>MORE

Ahmed bin Saeed lays foundation stone of Silicon Park Project

Posted on 28/02/2017

H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), the integrated free zone technology park, unveiled on Monday the commemorative plaque and laid the foundation stone of "Silicon Park", the first integrated smart city project taking shape at the hi-tech park. Once complete, the landmark development spanning 150,000 square metres and constructed at a cost of AED1.3 billion will reinforce the green ...  >>MORE

DED survey shows improved business confidence in Dubai

Posted on 02/02/2017

Survey results from the latest quarterly Business Confidence Index (BCI) of the Department of Economic Development (DED) show a marked improvement in business confidence in Dubai in the fourth quarter of 2016 over the same period in 2015. Results indicate that the 2017 budget, Expo 2020 and Dubai Plan 2021 are fuelling expectations as Business Confidence Index was at 120 points in Q4, 2016; compared to 116.1 in Q4, 2015. "Dubai's AED 47.3 billion budget for 2017 that, inter alia, aims to ...  >>MORE

Mohammed bin Rashid launches SME Classification System

Posted on 25/01/2017

Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, on Tuesday launched the SME Classification System. H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai attended the launch event at the headquarters of Dubai Executive Council, Emirates Towers. Sheikh Mohammed affirmed that the UAE will consolidate its global position by launching new initiatives and implementing strategies to support the business community. His ...  >>MORE

Dubai grew 2.7% in 2016, 3.1% growth expected in 2017: Ahmed bin Saeed Al Maktoum

Posted on 18/01/2017

His Highness Sheikh Ahmed Bin Saeed Al Maktoum, President of Dubai Civil Aviation, Chief Executive of the Emirates Group and Chairman of the Economic Development Committee in Dubai, said the economy of Dubai grew by 2.7% in real terms in 2016, despite declining oil prices, sluggish growth in developed as well as many emerging economies, and a mere 1.7% growth in global trade, its lowest since 2008-2009. The emirate is expected to grow by 3.1% in 2017, His Highness added. Delivering a keynote ...  >>MORE

Investment Corporation of Dubai records net profit of AED10.3 billion in H1 2016

Posted on 29/12/2016

Investment Corporation of Dubai, ICD, yesterday announced its consolidated financial results for the six-month period ended 30th June, 2016, showing revenues of AED82.5 billion and a net profit of AED10.3 billion. These results were achieved against a backdrop of lower oil and commodity prices, a strong US Dollar against other major currencies, and lackluster global economic growth. Revenues decreased by 7.8 percent and net profit decreased by 19.4 percent from the comparable period ended 30th ...  >>MORE

Dubai SME to support UN’s Sustainable Development Goals

Posted on 18/12/2016

Dubai SME, the agency of the Department of Economic Development (DED) in Dubai mandated to develop the small and medium enterprise (SME) sector, has launched a campaign to raise awareness on the Sustainable Development Goals (SDGs) established by the United Nations and adopted by the Dubai SME 2021 Plan. Running from 18th to 22nd December 2016, the campaign will bring to focus the social and economic impact of entrepreneurship development, while also showcasing outstanding corporate social ...  >>MORE

Dubai South to hit road with its first E-bus

Posted on 06/12/2016

In a significant step towards building a low carbon footprint city, Dubai South will bring out its first E-bus by early next year. An agreement in this regard was signed today with Transit Australia Group (TAG), Australian mass transit company, in the presence of Ahmed Al Ansari, Acting CEO, Dubai South and Michael McGee, CEO, TAG. "The signing of today's agreement marks an important step in the relationship between Dubai South, the Queensland Trade Commission and Transit Australia Group. ...  >>MORE

Dubai SME supports Hatta Development Plan

Posted on 05/12/2016

Dubai SME, an agency of the Department of Economic Development in Dubai, has committed to funding numerous projects in Hatta for the region's Comprehensive Development Plan, launched by Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum. Funding the projects supports the directives of Sheikh Mohammed to provide incentives for young Emiratis to become entrepreneurs and start their own businesses. Two of these talented young Emiratis are Manei ...  >>MORE

UAE reviews steps to strengthen business environment, entrepreneurship at SME World Summit in India

Posted on 24/11/2016

NEW DELHI: The UAE reviewed the steps it has taken so far to further promote entrepreneurship environment and highlight opportunities of building economic and business partnerships that support small and medium entrepreneurs, SME, to penetrate into new markets at regional and international levels. This came during the panel discussion on the UAE, themed "Global Partnership Opportunities for SME in the UAE," which was held within the activities of the 13th sessions of SME World Summit in New ...  >>MORE

Dubai SME-Dubai Holding partnership brings contracts worth AED17 mn to SMEs in H1 2016

Posted on 20/11/2016

Members of Dubai SME, the agency of the Department of Economic Development, DED, mandated to develop the small and medium enterprise, SME, sector, won contracts worth AED17 million during the first half of 2016 under a partnership between the agency and Dubai Holding, a global investment holding company. This partnership aims to support competitive entrepreneurs in the emirate, and across the UAE. The beneficiaries include 46 Emirati enterprises that are also covered by the Government ...  >>MORE

Global leaders recognised for leadership roles in Asia at ABLF 2016

Posted on 14/11/2016

The UAE last night celebrated Asian excellence at the Asian Business Leadership Forum Awards 2016, where 14 global leaders were recognised for their exceptional leadership efforts in Asia across the spectrum of the business, government, banking, finance, media, infrastructure and society fields. The ceremony, at the Palazzo Versace Dubai, was held under the patronage of Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture and Knowledge Development, and the Royal Patron of the Awards ...  >>MORE

Dubai Wholesale City signs MoU with Ningxia province of China

Posted on 14/11/2016

To enhance mutual collaboration and promote economic, trade and investment relations, Dubai Wholesale City, a member of TECOM Group, has signed a Memorandum of Understanding (MoU) with Ningxia province of China. Chief Executive Officer of Dubai Wholesale City, Abdulla Belhoul and Governor of the Ningxia province, Wang Heshan, signed the MoU in the presence of Department of Commerce representatives and international relations officials from the Ningxia province, in addition to other senior ...  >>MORE

Global Business Forum on Latin America to explore trade, investment opportunities

Posted on 06/11/2016

Experts attending the Global Business Forum, GBF, on Latin America will look at opportunities where the Gulf Co-operation Council, GCC, may act as a facilitator of economic co-operation and investment between the Middle East and Latin America. Organised by the Dubai Chamber of Commerce and Industry, the event will be held here on 9th and 10th November. The countries of Latin America are some of the most promising emerging markets in the world and the GBF offers an opportunity to exchange ...  >>MORE

Asian Business Leadership Forum set for 12th November

Posted on 03/11/2016

One of the UAE s leading business facilitation and networking companies, IEDEA, has announced that this year's Asian Business Leadership Forum, ABLF, 2016, scheduled for Saturday, 12th November, at the Palazzo Versace Dubai, will take place in association with the UAE Ministry of Economy. "The Asian Business Leadership Forum, ABLF, celebrates regional dialogue and co-operation to enhance growth opportunities and build a better future for the region. The UAE maintains good trade and economic ...  >>MORE

Mohammed bin Rashid School of Government launches ’The India Connection’

Posted on 31/08/2016

The Mohammed bin Rashid School of Government (MBRSG), a research and teaching institution specialising in public policy in the Arab world, on Tuesday launched a book titled ‘The India Connection' during a ceremony organised at the Dubai World Trade Centre. Based on entrepreneurship, innovation and cultural diversity in the UAE's labour market and their impact on sustainable economic development, the book highlights the experiences of Indian entrepreneurs in the UAE through live case studies ...  >>MORE

Dubai SME sees major rise in demand for entrepreneurial development programmes

Posted on 30/08/2016

The Dubai Entrepreneurship Academy, DEA, the educational arm of Dubai SME, has seen a 57 percent increase in the enrolment of trainees in its various programmes during the first half, H1, of 2016, compared to the same period last year. As many as 1,100 trainees were enrolled in 44 programmes being offered by the academy during the period, to support the strategic plan of Dubai. "The entrepreneurs enrolled during the first six months of 2016, are equal to the total enrolments for 2015, which ...  >>MORE

Dubai South quickly becoming key new hub

Posted on 22/08/2016

Dubai South is quickly becoming a key hub for business and investment. "Dubai South is integral to maintaining the emirate's position among the top five key international centres for trade and transportation, as a global business hub, and as a new global destination for investment. It also serves to boost Dubai's status as a capital of the aviation industry and home of happiness on the way towards implementing the Dubai Plan 2021,” said Sheikh Ahmad Bin Saeed Al Maktoum, President of Dubai ...  >>MORE

SCCI’s Business Incubate Programme to set up 50 offices for supporting SMEs

Posted on 16/08/2016

Sharjah Chamber of Commerce and Industry (SCCI) is allocating 50 new offices, which are fully equipped with facilities and part of the chamber's Incubate Business Programme recently-launched by Sharjah Economic Excellence Network "ShjSEEN." The plan aims at providing an inspiring environment for business entrepreneurs, who possess creative ideas and innovative projects to be executed in the UAE, and contribute to supporting Small and Medium Enterprises (SMEs) boosting economic prosperity ...  >>MORE

Dubai Financial Group sells stake in EFG-Hermes to Natixis

Posted on 15/08/2016

Dubai Financial Group (‘DFG'), a subsidiary of Dubai Group, has sold its 11.8% interest in EFG-Hermes Holding Company S.A E ("EFG") to Natixis Group ("Natixis") as part of debt restructuring, the group said on Sunday. A European banking leader, Natixis has an extensive international presence with offices in Europe, the Americas, Africa, Asia and Australia. "The sale of our stake in EFG Hermes is consistent with the business plan for Dubai Group, which was agreed with its lenders as part of ...  >>MORE

SCCI launches Business Intelligence System

Posted on 14/08/2016

The Sharjah Chamber of Commerce & Industry (SCCI) launched its ‘Business Intelligence System' – a smart scheme that aims to fully boost the chamber's digital transformation process for all its transactions and inquiries, in a move to exploit digital and technical technologies providing cutting-edge support to administrative decisions and preparation of corporate reports as part of the efforts to inspire a new administrative culture that endorses digital technologies. The initiative will assist ...  >>MORE

Safest countries to do business in: Dubai puts UAE in Top 5

Posted on 27/07/2016

The UAE is popularly-known as a safe haven in the world of business. Rightly so. Be it property, banking and finance, tourism, trade and travel, the UAE – Dubai to be precise – attracts foreign direct investments in a host of sectors from investors across different nationalities across all the continents. This fact was underscored further in the recently-released study, claiming that the Emirates is the among the safest countries in the Asia-Pacific and Middle East regions to do business in – ...  >>MORE

UAE private sector continues growth in June with employment edging up

Posted on 10/07/2016

Business activity in the UAE's non-oil private sector grew more slowly in June but remained robust, according to a survey published on Sunday. The seasonally adjusted Emirates NBD UAE Purchasing Managers' Index, which covers manufacturing and services, dropped to 53.4 last month from 54.0 in May. A figure above 50 means business is expanding; below 50 signals contraction. "The softening in new business and output growth in June may partly be due to the earlier start to Ramadan this year," ...  >>MORE

‘UAE one of the most innovative countries in five years, says Hamad Buamim

Posted on 13/06/2016

The Mohammed Bin Rashid Al Maktoum Business Innovation Award is aimed at enhancing the competitiveness of the emirate's business sector to make the UAE one of the most innovative countries in the world in the next five years. This was shared by Dubai Chamber of Commerce and Industry president and chief executive officer Hamad Buamim during an interview with Khaleej Times. "As the first award of its kind in the region, the Mohammed Bin Rashid Al Maktoum Business Innovation Award was launched by ...  >>MORE

Dubai SME launches first-ever report on the state of equity investment in small and medium businesses in Dubai

Posted on 18/05/2016

Dubai SME, the agency of the Department of Economic Development (DED) in Dubai mandated to develop the small and medium enterprise (SME) sector, has launched a report on the 'State of SME Equity Investment in Dubai,' the first initiative of its kind in the Gulf region, to encourage investment in the sector and attract direct capital into areas with vast potential for entrepreneurial and start-up growth, from private equity (PE) investors, venture capitalists (VCs)and angel investors. The ...  >>MORE

Dubai Exports supports local firms targeting new European markets through Bosnia

Posted on 17/05/2016

A delegation from Dubai Exports, the export promotion agency of the Department of Economic Development in Dubai, recently attended the Sarajevo Business Forum held in the capital city of Bosnia, as part of its efforts to introduce exporters and products from the UAE to new markets in 16 countries across south-eastern Europe. Dubai Exports was also one of the sponsors of the forum, which was attended by 750 representatives from different countries, including 20 exporting firms from the UAE. ...  >>MORE

Dubai private sector firms gain steam

Posted on 11/05/2016

Dubai witnessed the fastest rise in private sector business activity since September 2015 during April. In addition, Dubai private-sector companies are upbeat about their growth prospects for the year ahead. Dubai private-sector companies indicated a sustained recovery in growth momentum from the survey's record-low experienced in February. At 52.7 in April, up slightly from 52.5 in March, the seasonally-adjusted Emirates NBD Dubai Economy Tracker Index highlighted the fastest improvement in ...  >>MORE

Index of confidence in the business climate in Abu Dhabi scores 59 points, reflecting continuous positive view among businesses

Posted on 17/04/2016

The records set by the general index of confidence in the business climate and its sub-indexes in 2015 has shown a continuous positive outlook amongst various businesses towards the economic conditions in the Emirate of Abu Dhabi and optimism for the future in spite of s slight decline of the general index value which reached 59 points in 2015 against 62 points recorded in 2014. The new result of the general index of confidence came as part of the developmental indexes of the Economic ...  >>MORE

Dubai is a unique experiment in the history of the world, says leading global strategist

Posted on 10/04/2016

Dubai is a unique experiment in the history of the world, according to leading global strategist and best-selling author Dr. Paragon Khanna. Dr. Khanna was speaking at the second Dubai Knowledge Majlis organised by the Government of Dubai Media Office (GDMO), an initiative aimed at providing a platform for senior Dubai government officials to gain insights from leading international thought leaders and experts on vital issues impacting the future of the region. At the event, Dr. Khanna ...  >>MORE

Ecosystem for start-ups is more developed now

Posted on 04/04/2016

Team integration, forward planning financial forecasts and sustaining an ecosystem at work are among the key factors that attract investors towards aspiring SMEs and start-ups in Sharjah, said Ameera BinKaram, deputy chairperson of Nama and chairperson of the Sharjah Business Women Council (SBWC). SBWC launched the Start-Up Academy Sharjah Series to contribute to the enhancement of the local entrepreneurial ecosystem. More than 100 entrepreneurs received personalised start-up services from ...  >>MORE

UAE leads regional list and ranks among top 20 countries globally in 2016 Global Entrepreneurship Index

Posted on 30/03/2016

The United Arab Emirates has ranked 19th globally in the Global Entrepreneurship Index (GEI) Report 2016, advancing one spot from last year and surpassing countries such as Norway, South Korea, Turkey and Japan. The UAE topped the list of countries within the Middle East and North Africa region, which comprises 15 countries, including Turkey. An analysis of the UAE's performance in the GEI Report, prepared by the Federal Competitiveness and Statistics Authority, based in Dubai, showed that ...  >>MORE

UAE to remain business hub

Posted on 24/03/2016

Dubai World Trade Centre's new development projects will attract new businesses and boost Mice (meetings, incentives, conferences and events) sector in the emirate. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Wednesday inspected the master plan for One Central, which is a Dh8 billion mixed-used under development project. Sheikh Mohammed reviewed the detailed model of the One Central master plan development and ...  >>MORE

Survey: Dubai is the best centre worldwide for expansion of companies

Posted on 01/03/2016

A survey by the Alliance Business Centres Network for the Middle East and North Africa, MENA, has shown that Dubai ranked first among the best centres for the expansion of companies on a global level. The survey noted that Dubai was the choice of 21% of the total 300 companies that participated in the survey from Asia, Europe and North America to choose the best position for expansion globally. The survey also revealed that Singapore ranked in second position with 19 %, followed by Hong Kong ...  >>MORE

Dubai promotes forward thinking with "Destination Innovation: Where Next?

Posted on 29/02/2016

Dubai Tourism has commissioned "Destination Innovation: Where Next?" - a dynamic multimedia hub featuring quarterly content to support multinational companies around the opportunities and challenges of running a global business. The hub, launched by The Economist Intelligence Unit (EIU) and supported by Dubai Chamber, is part of a move to further enhance the sharing of best practices and learning from around the world to further supplement corporations and business leaders' decision making ...  >>MORE

Smart logistics holds key to enhanced business ties between Dubai and Hamburg: Dubai Chamber study

Posted on 29/02/2016

The Dubai Chamber of Commerce and Industry has released a study on the side-lines of its preparations to host the 5th Dubai Hamburg Business Forum in cooperation with the Hamburg Chamber of Commerce at the Chamber premises on March 22. Being organised under the theme, "Internet of Things: Innovation to Connect", the study focuses on the substantial synergy to share best practices and new technologies in IoT for the Smart Logistics Sector between the business communities of Dubai and Hamburg. ...  >>MORE

Dubai welcomes 85 delegates to experience the city’s world class business conferences

Posted on 24/02/2016

Dubai Business Events, DBE, Dubai's official convention bureau, has welcomed 85 guests from Europe, including 70 hosted buyers and a further 15 of Europe's leading media experts from the business events industry, to showcase the city's world class meetings, incentives, conferences and event capabilities. Western Europe is a vital market for Dubai, and in 2015 it remained the second highest regional contributor to the emirate's visitor volumes, bringing in nearly 3 million overnight visitors, ...  >>MORE

First CIS Global Business Forum recommends UAE model of diversification for post-oil era

Posted on 19/02/2016

The inaugural Commonwealth of Independent States Global Business Forum (CIS GBF 2016), concluded in Dubai with the overarching recommendation of embracing the UAE model of financial diversification to prepare CIS for the post-oil age and to enhance their financial competitiveness. Arranged under the patronage of Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, on the style, 'Ancient Routes-- New Opportunities,' the two-day occasion ...  >>MORE

Dafza draws record number of Indian firms in 2015

Posted on 14/02/2016

Dubai Airport Free Zone Authority (Dafza) said it has witnessed an impressive 23 per cent increase in the number of Indian companies operating within its premises last year. Official statistics reveal that India came first in the list of Dafza investors by country last year, accounting for 38 per cent of total Asia Pacific investments. The investments of Indian companies, 45 per cent of which are multinational companies, focus on the electronics and communications sector which ranked first at ...  >>MORE

Global Cities 2016 Report sees larger role for Dubai in global business community

Posted on 28/01/2016

The Global Cities 2016 Report, published by Knight Frank, a leading independent global property consultancy, says that international investment is more likely to look at either established centres or emerging cities that have moved into the global league. The report expects property investors to seek a balance of growth and diversification in a global property portfolio. This year, the report includes a Watch List of five cities that Knight Frank believes are set to play a bigger role in the ...  >>MORE

DED sees 17.4 percent rise in licenses as Dubai attracts more businesses and investors

Posted on 26/01/2016

The Department of Economic Development, DED, in Dubai issued 22,691 business licenses in 2015, an increase of 17.4 percent compared to the total number of licenses issued in 2014 and a clear indication that Dubai remains an attractive destination for companies and investors due to robust economic activity prevailing in key economic sectors in the emirate. The latest achievement also rounds up a 75 percent increase in new licenses between 2010 and 2015, at an annual average of 15 percent. A ...  >>MORE

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Quick List

UAE residents have positive perception of national well-being and businesses, with confidence in a bright future: survey


Yachting industry one of main pillars for growth of Dubai’s maritime sector, says DMCA official


Ahmed bin Saeed lays foundation stone of Silicon Park Project


DED survey shows improved business confidence in Dubai


Mohammed bin Rashid launches SME Classification System


Dubai grew 2.7% in 2016, 3.1% growth expected in 2017: Ahmed bin Saeed Al Maktoum


Investment Corporation of Dubai records net profit of AED10.3 billion in H1 2016


Dubai SME to support UN’s Sustainable Development Goals


Dubai South to hit road with its first E-bus


Dubai SME supports Hatta Development Plan


UAE reviews steps to strengthen business environment, entrepreneurship at SME World Summit in India


Dubai SME-Dubai Holding partnership brings contracts worth AED17 mn to SMEs in H1 2016


Global leaders recognised for leadership roles in Asia at ABLF 2016


Dubai Wholesale City signs MoU with Ningxia province of China


Global Business Forum on Latin America to explore trade, investment opportunities


Asian Business Leadership Forum set for 12th November


Mohammed bin Rashid School of Government launches ’The India Connection’


Dubai SME sees major rise in demand for entrepreneurial development programmes


Dubai South quickly becoming key new hub


SCCI’s Business Incubate Programme to set up 50 offices for supporting SMEs


Dubai Financial Group sells stake in EFG-Hermes to Natixis


SCCI launches Business Intelligence System


Safest countries to do business in: Dubai puts UAE in Top 5


UAE private sector continues growth in June with employment edging up


‘UAE one of the most innovative countries in five years, says Hamad Buamim


Dubai SME launches first-ever report on the state of equity investment in small and medium businesses in Dubai


Dubai Exports supports local firms targeting new European markets through Bosnia


Dubai private sector firms gain steam


Index of confidence in the business climate in Abu Dhabi scores 59 points, reflecting continuous positive view among businesses


Dubai is a unique experiment in the history of the world, says leading global strategist


Ecosystem for start-ups is more developed now


UAE leads regional list and ranks among top 20 countries globally in 2016 Global Entrepreneurship Index


UAE to remain business hub


Survey: Dubai is the best centre worldwide for expansion of companies


Dubai promotes forward thinking with "Destination Innovation: Where Next?


Smart logistics holds key to enhanced business ties between Dubai and Hamburg: Dubai Chamber study


Dubai welcomes 85 delegates to experience the city’s world class business conferences


First CIS Global Business Forum recommends UAE model of diversification for post-oil era


Dafza draws record number of Indian firms in 2015


Global Cities 2016 Report sees larger role for Dubai in global business community


DED sees 17.4 percent rise in licenses as Dubai attracts more businesses and investors