United Arab Emirates Insurance Report Q3 2010

Research and Markets has announced the addition of the “United Arab Emirates Insurance Report Q3 2010″ report to their offering.

The United Arab Emirates Insurance Report provides industry professionals and strategists, corporate analysts, insurance associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the United Arab Emirates’ insurance industry.

The development of the UAE, Dubai in particular, as a regional hub for insurance and other financial services will likely be complicated by the volatility in the markets following the problems of Dubai World in late 2009. Nevertheless, the UAE’s physical infrastructure, the willingness and ability of the government of Abu Dhabi to continue to provide support to Dubai and the UAE’s competitive advantage in logistics and pharmaceuticals mean the insurance sector should continue to develop. Read more

BofA Merrill Lynch Fund Manager Survey Finds Bearish Sentiment Waning As Risk Appetite Improves

Bearish sentiment among investors about the outlook for the global economy and corporate earnings has eased, according to the BofA Merrill Lynch Survey of Fund Managers for August.

The survey shows a net 5 percent of respondents predicting that the global economy will improve in the next year. This represents a modest turnaround from July when a net 12 percent of respondents predicted the world economy would deteriorate. Read more

Dynamic changes throughout the global property markets

The second quarter of 2010 was marked by dynamic changes throughout the  property markets, according the recently released RCA’s mid-year 2010 report on the state of the global commercial real estate developments.

Transaction activity slowed in Asia Pac and not entirely due to governmental curbs instituted by China. Europe also experienced a pause in its recovery as worries about a double-dip recession scenario were renewed. However, the Americas which had yet to experience a significant rebound, finally saw a spike in activity and recorded its best quarter for property sales since the start of the recession.

Globally, sales of signifi cant commercial property totaled just under $100.0 b in Q2, down from $135.1 b in Q1. Compared to a year earlier, transactions were up 33% in Q2, but this still represents a slowing from increases of 138% and 91% in the prior two quarters. Read more

United Arab Emirates Business Forecast Report Q4 2010

Although oil prices remain high and some developments in the real estate market may inspire confidence, Dubai’s debt problems have not been resolved; and resumption of construction activity will prolong an over-supply situation in the housing market. For Abu Dhabi, the picture is somewhat brighter, with the infrastructure, oil and industrial sectors all having recovered in 2009 and 2010. However, domestic demand remains a weakness across the country, as is evident from still falling rents. A renewed slowdown in the US and Chinese economies, hurting external demand, will therefore be very harmful for growth and financial stability. Read more

Wildcat Publishing launches ‘The Oil ‘&’ Gas Year, Abu Dhabi 2010′

Researched on the ground over a period of seven months, The Oil ‘&’ Gas Year, Abu Dhabi 2010 brings together interviews, articles and resources covering all aspects of Abu Dhabi’s oil and gas industry, and is a platform from which leading energy executives can communicate their messages to their peers. Read more

The Global Islamic Finance Report 2010

BMB Islamic, a leading provider of Sharia structuring and advisory services, today launches the Global Islamic Finance Report 2010 (“GIFR 2010″), the first fully comprehensive and authoritative account of Islamic banking and finance to date. Read more

House Price Index for Dubai decreased 4% in Q2 2010 according Colliers International

Average house prices in Dubai have fallen slightly according to the Colliers International Q2 2010 Dubai House Price Index published. The index recorded a 4% decrease in house prices since Q1 2010, the first quarter-on-quarter contraction to be registered by the index in 12 months.

The index slipped 5 basis points from 119 in Q1 2010 to 114 in Q2 2010, while the blended average house price for Q2 2010 was approximately Dhs1,014 per ft2 (Dhs10,915/m2), down from Dhs1,061 per ft2 (Dhs11,420/m2) in the first quarter.

Despite the second quarter slide, the index still shows a 7% increase in overall house price values year-on-year from Q2 2009 to Q2 2010.

However, Colliers International cautions that forthcoming housing supply and declining rental incomes are likely to put downward pressure on house prices moving forward. Read more

UAE transport sector shows positive outlook

A Dubai Chamber of Commerce ‘&’ Industry analysis showed a strong potential and positive growth outlook for the UAE’s transportation sector. The analysis further indicated that the UAE transportation sector provides market accessibility by linking producers and consumers together in what is rapidly becoming more and more of a globalised world. The major impacts of transport on economic processes can be categorised as; (i) geographic specialisation; (ii) increased competition and (iii) increased land value. Read more

Abu Dhabi Real Estate Market Overview – Q2 2010

Jones Lang LaSalle, the world’s leading real estate investment and advisory firm, released its latest ‘Abu Dhabi Real Estate Market Overview – Q2 2010: July 2010’ covering the Abu Dhabi office, residential, retail and hospitality market segments.

Highlights of the overview:

• While developers have scaled back many projects, the additional supply entering the market has seen average rentals and sale prices decline in most sectors over Q2 2010 as the market continues to adjust from the unsustainable levels of performance recorded during 2008 and 2009.
• Market conditions in Dubai continue to have a negative impact on Abu Dhabi due to the complex interrelationship between the two markets. Other than selective relationship lending, liquidity remains tight and many developers are experiencing cash-flow issues.
• Office market vacancies continue to increase as new supply comes on stream and will continue until economic development initiatives boost new demand. This is providing additional choice for tenants. Rental prices continue to decrease with the gap between Grade A and Grade B rentals widening.
• Limited supply entered the residential market in Q2 2010 and the market continues to experience an overall under-supply situation, particularly in the lower to mid-market segments. However, average rental prices continued to decline quarter on quarter with few sales transactions taking place.
• The retail market remains under supplied taking into account the spending power of the population and increasing tourism spend with more than 95% occupancy rates especially for high quality retail space. Rental rates have remained stable over the past three quarters.
• Supply continues to outpace demand in the hotel market. The corporate sector continues to dominate as Abu Dhabi continues to develop its tourism offerings. ADR and hotel occupancy rates face continued pressure especially within newer development areas such as Yas Island.

Upward trend in gold price in Q2 of 2010 backed by strong fundamentals

UAE and Saudi Arabia second only to India in the strongest performers in jewellery segment

Mixed economic news around the world, concerns over a double dip recession and significant fiat currency weakness meant gold retained its lustre as a protector of wealth during the second quarter 2010, according to the World Gold Councils (WGC) latest Gold Investment Digest (GID). The quarter recorded significant net inflows into various gold-backed investment vehicles, as investors sought to harness golds investment benefits at a time of weakness and pronounced volatility in other asset classes.

While China has remained resilient, GID also suggests that jewellery demand in other key markets has continued to recover from a weaker 2009. Read more

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