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Survey ranks UAE third most optimistic nation

Posted on 13/11/2008

Consumer confidence in UAE remains quite stable as the economy is driven by strong domestic growth particularly in the FMCG and retail sector, ranking UAE the third most optimistic nation according to a survey. The Nielsen Global Consumer Confidence survey showed that out of 52 countries surveyed, UAE consumers ranked third most optimistic for their local job prospects and state of their personal finances. Despite being affected by the current global conditions, consumers in the UAE and ...  >>MORE

UAE Ranks 4th for Doing Business in the Arab World

Posted on 11/11/2008

The International Finance Corporation (IFC) and World Bank have issued a joint report on ‘Doing Business in the Arab World 2008, and their findings has established that the UAE is ranked fourth in the Arab world and 46th globally for the ease of doing business. The joint report has also analysed the reform process-taking place in the Arab world on the improving business climate. The report has ranked nations recognising their efforts in easing tight regulatory controls, where UAE has fared ...  >>MORE

UAE woman making staggering achievements

Posted on 10/11/2008

UAE woman making staggering achievements WAM Abu Dhabi, 9th Nov. 2008 (WAM) -- The UAE woman's gains and achievements were triggered by the programmes and political empowerment plans under the leadership of UAE President HH Sheikh Khalifa bin Zayed Al Nahyan. Today, the UAE national woman occupies top positions in all fields, and contributes effectively in the development process in the country through participation in the sovereign authorities: executive, legislative and judiciary, as well as ...  >>MORE

Slower growth good for UAE, says S&P

Posted on 06/11/2008

The current liquidity squeeze and the consequent slowdown in economic growth can be positive for the UAE as it could alleviate infrastructure and resource bottlenecks that had been stoking inflationary pressures, Standard & Poor's (S&P's) Ratings Services said. A slower growth will also reduce the risk of a significant oversupply in the real estate market, the rating agency said in its latest report. S&P's said liquidity would remain tight in the medium term, resulting in a slow-down of ...  >>MORE

UAE ranked top in prosperity index

Posted on 05/11/2008

The UAE is ranked the most prosperous GCC country and the second most prosperous country in the Middle East by the Legatum Prosperity Index for 2008. The country ranks 28th among the 104 countries surveyed in the Legatum index which goes beyond GDP in its assessment of national prosperity and defines prosperity as material wealth coupled with quality of life. "The UAE is among the top Arab countries in the world, there is an especially high quality of life here," said Dr William Inboden, ...  >>MORE

OBG releases The Report : Dubai 2008

Posted on 04/11/2008

Oxford Business Group (OBG), the global publishing, research and consultancy firm, has launched The Report: Dubai 2008, the latest of its annual business guides to the emirate. Rated as the premier guide to Dubai, the publication features a series of exclusive interviews with leading political and economic figures in the emirate. The interviews and the analysis of The Report, describe Dubai as a pro-business city based on solid convictions and strong commitments to override any challenge that ...  >>MORE

UAE’s external debt growth slows, touches US$170b in first half: Fitch

Posted on 02/11/2008

The pace of growth in UAE's external debt slowed in the first half of 2008 to reach US$170 billion, according to Fitch Ratings, a leading global rating agency. After surging by 70 per cent in 2007 to D145 billion at end 2007, UAE's external debt slowed this year, rising by US$25 billion in first half, up 17 per cent, the rating agency said in a report published on Saturday. Officials at the UAE Ministry of Finance and the Central Bank were unavailable on Saturday for their comments on the ...  >>MORE

UAE inflation likely at 12.9 per cent in 2008: IMF

Posted on 21/10/2008

Inflation in the UAE is likely to be 12.9 per cent in 2008, higher than 11.1 per cent in 2007, before easing to 10.8 per cent in 2009, according to International Monetary Fund's latest regional economic outlook report for the Middle East and Central Asia. The IMF report, released on Monday, said that the inflation has emerged as a key issue in the Middle East and Central Asia, and is well above the average and emerging market countries. According to the report, UAE's real gross domestic ...  >>MORE

UAE improves ranking on Global Competitiveness Report

Posted on 15/10/2008

The United Arab Emirates has consolidated its position as one of the most competitive economies in the region, moving up by six positions to 31st place in the Global Competitiveness Report 2008 -2009, released by the World Economic Forum. Overall, the country improves its ranking across all pillars of the Growth Competitiveness Index (GCI), with a more stable macroeconomic environment and a better assessment of the quality of the educational system. The country's institutional environment ...  >>MORE

US International Religious Freedom Report 2008 praises UAE

Posted on 22/09/2008

The US International Religious Freedom Report 2008, released by the Bureau of Democracy, Human Rights, and Labour, commends the policy of religious tolerance adopted by the UAE leadership toward non-Muslim religious groups. It cited the organisation by the Centre of Information Affairs of an event that reflected the improvements and positive developments in respect for religious freedom. The Report says, "On May 17, 2008, the Media Affairs Centre of the Deputy Prime Minister's Office organised ...  >>MORE

Investments in non-oil sectors accelerate UAE growth rate

Posted on 18/09/2008

Investment by the UAE government in the agriculture, industrial, real estate and service sectors has accelerated the country's growth rate, says the UAE Annual Social and Economic Report 2007 issued by the Ministry of Economy. External trade has also played a significant role in boosting the country's economy and constitutes a high percentage of the gross domestic product (GDP). "The increase in earnings due to exports and re-exports is attributed to successful policies and the free zones ...  >>MORE

DIFC report outlines proposed structure for Gulf central bank

Posted on 16/09/2008

The Dubai International Financial Centre Authority released Monday a report outlining options for the institutional structure and governance of a proposed Gulf Central Bank, a central requirement to meeting the January 2010 deadline for implementation of a GCC common currency. Entitled "The Institutional Framework of the Gulf Central Bank", the report says the GCB could be formed and in operation by 2009 to prepare the way for the currency's introduction and to test and fine tune the bank's ...  >>MORE

UAE's ranking in World Bank's report boosted

Posted on 14/09/2008

The UAE's first private credit information company, Emcredit, has been recognised by the World Bank as a significant factor in the UAE's reforms to boost business environment in the country. According to the World Bank's Doing Business Report 2009, Emcredit's collection of "information on the repayment pattern of individual borrowers as well as firms has allowed better supervision of the debt level of banks and borrowers." The report highlights that Emcredit has been instrumental in improving ...  >>MORE

UAE is 16th on Financial Development Index

Posted on 10/09/2008

The UAE ranks 16th among 52 countries in the World Economic Forum's inaugural Financial Development Index released on Tuesday. The rankings consider several factors such as business environment, financial stability, size and depth of capital markets, and ease of access to capital. The US came at the top of the list followed by the UK, Germany, Japan, Canada and France respectively. The UAE ranks 16th, topping the Middle East region in the index. "This is a great achievement for the UAE in ...  >>MORE

UAE tops Mena in pursuing credit information, says World Bank report

Posted on 10/09/2008

The UAE has topped the Middle East and North Africa region in pursuing reforms in credit information, owing primarily to its initiative to set up a private credit bureau, World Bank said in its report Doing Business 2009. The UAE was ranked 46th in ease of doing business category. The UAE was also ranked fourth in the countries easiest to pay taxes just after Maldives, Qatar and Hong Kong. According to the report, economies that rank high on the ease of paying taxes tend to have lower and less ...  >>MORE

RCS to send 2500 ton of humanitarian relief aid to Lebanon

Posted on 12/08/2006

The UAE's Red Crescent Society (RCS) has started loading a ship of immediate humanitarian relief aid for war-ravaged Lebanon. The new consignment is instructed by General Sheikh Mohammed bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces and is being followed up by Sheikh Hamdan bin Zayed Al Nahyan, Deputy Prime Minister and Chairman of RCS. Loading operations are underway at Abu Dhabi Port and in RCS's warehouses and RCS is racing against time ...  >>MORE