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

UAE ranked 30th globally in Human Development Index

The UAE has been ranked the thirtieth among 187 countries, according to the index of human development world report 2011 released by United Nations Development Programme (UNDP).

Under the auspices of H. H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime minister, Minister of Presidential Affairs, UNDP, in collaboration with Emirates Council for Competitiveness, has organised a ceremony at UAE Centre for Strategic Research and Studies, in Abu Dhabi, to launch the human development report 2011. Read more

Investors turn to U.S. and Emerging Markets, Fund Manager Survey

• BofA Merrill Lynch Fund Manager Survey Finds Investors Turning to U.S. and Emerging Markets Amid Eurozone Fears
• 72 Percent of European Investors Expect Recession in Europe

Global investors are seeking respite from troubles in the eurozone by turning to U.S. and emerging markets equities, according to the BofA Merrill Lynch Survey of Fund Managers for November.

Globally, investors have slightly increased their exposure to equities since October’s survey. A net 5 percent of the panel is underweight equities, down from a net 7 percent a month ago. The proportion of investors overweight U.S. equities rose sharply to a net 20 percent from a net 6 percent in October. Read more

Dubai neither doomed to fail, nor a safe haven

The latest report from BofA Merrill Lynch Global Research was released today, titled, “BofA ML Emerging Markets – MENA Quarterly: Positioned to cope with global slowdown”.

Bellow are the highlights:

Macro overview: Positioned to cope with global slowdown

BofA Merrill Lynch believes that, compared to 2008, the region is broadly in a better shape to weather the global slowdown. Progress on corporate deleveraging, more robust banking systems, higher but broadly still reasonable breakevens, a heavy infrastructure pipeline and sovereign wealth are likely to cushion the global downturn. The bank sees MENA / GCC GDP growth at 5.8% and 6.9% in 2011 (vs. 4.7% and 5.2% previously).  The bank cut s2012 MENA / GCC growth to 4.0% and 3.9% (vs. 4.7% and 4.9% previously) mainly due to our expectation of flattish oil production in 2012 but still strong non-oil GDP growth, and higher base effect. Read more

Asia-Pacific’s HNWI Population exceeds Europe’s for First Time

• Wealth Management Firms Need to Offer Capabilities from Other Business Units to Meet Demands of Asia-Pacific HNWIs

Asia-Pacific’s population of high net worth individuals (HNWIs1) grew 9.7 percent to 3.3 million in 2010, exceeding Europe’s for the first time and placing the region as the world’s second-biggest market after North America, according to the 2011 Asia-Pacific Wealth Report released today by Merrill Lynch Global Wealth Management and Capgemini. Asia-Pacific HWNI wealth, which overtook Europe’s in 2009, gained 12.1 percent to US$10.8 trillion in 2010, compared with Europe’s US$10.2 trillion. With the fastest regional growth rate, the number of Ultra-HNWIs2 in Asia-Pacific rose 14.9 percent to 23,000, while their wealth jumped 16.8 percent in 2010, beating increases of 10.2 percent and 11.5 percent in global UHNWI population and wealth respectively. Now the world’s second-biggest market for HNWI wealth and population, the region’s HNWI numbers are also 18.3 percent larger than 2007, prior to the global financial crisis. Read more

MENAFN launches Premium Research Center

The Middle East North Africa Financial Network Inc (MENAFN.com) has launched its online Premium Research Center today, providing business professionals and decision makers in the region with needed market insight through first-class, specialized research and studies.

MENAFN’s Premium Research Center covers a wide variety of business sectors including Media, Business/Finance, Industry, Economy, Pharmaceuticals & Health, Real Estate & Construction and Telecommunication & Technology among others. Such extensive coverage of topics is possible through MENAFN’s partnerships with leading international research institutions.

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Middle East Digital Consumer Survey Report

Two-thirds of consumers in the Middle East use the internet to research products and services, according to new research published today by Econsultancy and Real Opinions.

The Middle East and North Africa Digital Consumer Report shows that 66% of consumers in MENA are using the internet to look for products or items to buy prior to purchase. Of these respondents, 48% use the internet occasionally and 18% use the web regularly to research products.

The report, which is based on a survey of more than 2,000 consumers across different regions in the Middle East, also shows that a third of consumers are currently purchasing products online, and this includes 27% who purchase occasionally and 6% who regularly buy online.

Online consumers are paying for a wide variety of products. Flights are widely bought on the internet in the Middle East, but other things paid for online include hotel reservations, utility bills and books. Read more

Precious Metals Weekly Report

A week gone by and so many new and old challenges to be considered:

• The Euro slumps to a new six month low against the US $ at 1.3650.
• ECB Board Member and Chief Economist Juergen Stark resigns on the eve of the G7 meeting in Marseille.
• Stock markets all over the world are in decline
• 10 Yr. Yield for US Treasury bonds fall to 1.92 %
• 1 Yr. Yield for Greek bonds reach 97 % in yesterday’s trading

There have been mixed messages surrounding the moves in the financial markets, to say the least. The widely anticipated speeches from FED chairman Bernanke on Thursday and the address from President Obama have so far failed to be a game changer for the US growth outlook. The current problems are much more focused on European Sovereign Debt issues and the search for possible answers towards these concerns. The next important diary date seems to now be the extended FED meeting on the 20th and 21st September where some clarification about potential growth accompanying measures from the FED can be expected. Read more

UAE Real Estate Quarterly Performance in 2Q11

Latest data released by leading research company indicates that the real estate prices in U.A.E. continued its slide during the second quarter of 2011. Key figures highlight the market performance and the latest developments within the real estate industry.

Real Estate Market Performance

Dubai apartment rents decreased over 2% in 2Q11, following a 2% decline in first quarter of 2011 over the previous quarter, while villa rents maintained their first quarter levels without any significant declines after a 1% drop in 4Q10.

Selling prices, however, dropped 3% for Dubai apartments led by Downtown Dubai, which dropped 8% QoQ and DIFC down 7% on new supply, according to the estimates of Global Investment House of Kuwait. Read more

Precious Metals Weekly Overview

Emirates NBD’s Precious Metals Report is out, prepared by Gerhard Schubert, Head of Precious Metals, Emirates NBD.

The August Non-Farm-Payroll was unchanged in the U.S., which was a very disappointing number, and the reaction of the markets was swift and clear. Gold rallied immediately, but  it was already up $35  even before the payroll figure was released. Some very courageous people took a wild guess on these numbers and bought massively on Friday morning, during European trading hours. Read more

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