UAE Property Investment better than Cash

The rental returns on premium real estate investments in the UAE are at least three times higher than having cash in the bank according to the Middle East’s largest private developer, DAMAC Properties.

The rate of interest on a six-month fixed term deposit at HSBC is 2.1%, compared to rental yields in the UAE of between 7-12%, according to property consultancy CB Richard Ellis. Read more

Corporate Business Revamp: Go Social or Die

Strategies for turning Business Social

Together with mobile and cloud computing, everything “social” emerges as a leading trend.

Much of the business community in Dubai and the UAE is not acting on these trends. Still, even large organizations are operating on the belief that “social” is not that important, because their business remains profitable.

However, a new trend can be a game changer and entire industries can be wiped out or forced into bankruptcy. Remember how fast the retail software, music, video and book chains have disappeared not so long ago?

Can a similar phenomenon happen to businesses that are not adopting to changes, not listening, engaging and nurturing their employees and customers? Read more

Gold decade-long bull run nears the end

Gold is nearing the end of a decade-long run that has lifted prices by more than 600 percent, some market observers believe.

The yellow metal has been a top-performing asset since 2001, as portfolio diversification, concerns over sovereign risk and rock-bottom interest rates aided to push prices from a low around $250 an ounce in 2001 to a height above $1,920 in September 2011. Read more

Political stability key as Dubai renews efforts to tap investment

Dubai’s bid to bounce back from the global economic crisis will be mapped out in a wide-ranging report to be published by the global publishing, research and consultancy firm Oxford Business Group (OBG).

The Report: Dubai 2013 will explore the Emirate’s move to regain the ground it lost during the downturn, including its efforts to attract new investors which have been strengthened by a politically stable climate. It will also contain a detailed, sector-by-sector guide for foreign investors, alongside a wide range of interviews with the most prominent political, economic and business leaders. Read more

Dubai’s retail rebounds along the tourism sector

Dubai’s retail sector seems well positioned to enter a period of solid growth, underpinned by rising tourist influx and demand in the local economy. Strong tourism sector, combined with increased consumer confidence and soaring domestic spending, is expected to empower further growth also in the retail sector across the country, with Dubai having become the focus of retail construction developments in the UAE. Read more

UAE Ranked 5th Country Worldwide for Efficiency of Government Spending

• UAE raised two ranks from last year

The UAE was ranked fifth in the world in terms of efficiency of government spending in the 2011-2012 Global Competitiveness Report of the World Economic Forum (WEF), reflecting the UAE’s leadership’s vision and strategy of achieving prosperity for its citizens. HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and the Minister of Finance, attributed this global achievement to the wise leadership of HH Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, and HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister, Ruler of Dubai. Read more

Arab Monetary Fund unlikely to offer aid to Eurozone

The Arab Monetary Fund is unlikely to offer any funding assistance to the Euro zone, because it needs to provide loans to unrest-hit countries across the Arab world, according to Director General Jassim al-Mannai. The 22-member AMF has already provided loans worth around $548 million to Jordan, Morocco and Yemen in 2010. This amounts mark  the highest level of annual lending in the last 22 years, AMF’s annual report shows.

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Protests alter forecasts for premium growth in MENA

The political and social unrest in the Middle East and North Africa (MENA) region will affect the insurance industries of each country to varying degrees, though the projected negative impact on premiums overall in the region is not expected to be severe, a new special report from A.M. Best Co. finds. Read more

UAE’s Bankruptcy and Financial Restructuring Law almost ready

The Ministry of Finance (MoF) has announced that it has referred the Bankruptcy and Financial Restructuring Law Initiative, which was prepared in coordination with specialized local and international entities, to the technical committee at the Ministry of Justice. The announcement was made following a meeting headed by HE Younis Haji Al Khouri, Undersecretary of MoF between committees from MoF, Ministry of Economy, Ministry of Justice, and the UAE Central Bank which took place at MoF’s headquarters in Dubai today. Read more

Dubai Chamber prepares for 3rd Dubai Business Gala

Dubai Chamber of Commerce and Industry is putting the final touches on preparations for the 3rd Dubai Business Gala, which will be held on November 29, under the patronage of His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman and Chief Executive of Emirates Airline & Group, and Chairman of Dubai Airports.

The gala, held at the Madinat Jumeirah, is the premier meeting of its kind in the Middle East and North Africa region, attracting more than 1,000 business leaders, including prominent VIPs and heads of Dubai’s business groups and councils. This year it is sponsored by Emirates Airline. Read more

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