Consumer confidence declined among Middle Easterners

Consumer confidence declined in four of six Middle East and Africa markets in Q1 2013, reflecting negative sentiments about personal finances and job prospects, according to findings from the Nielsen Global Survey of Consumer Confidence and Spending Intentions. Egypt and Saudi Arabia each reported double-digit confidence declines from Q4 2012, as the index levels for these two markets fell 20 and 16 points, respectively. Confidence in Pakistan declined seven index points to a score of 87, and confidence in United Arab Emirates dropped five index points to 108, which was the highest index reported in the region. Confidence in South Africa increased two index points to 78 and confidence in Israel rose one point to a score of 91. Read more

Private equity focus shifts from emerging markets

Private equity investment activity in the Americas is positioned for a solid year, while markets in Europe and Asia-Pacific tread water; this according to the fourth annual edition of the bellwether report on the state of the industry, released recently by Bain & Company. Read more

Bad for schools’ business, but good for hotels performance

School Holidays Increased Hotel Performance in Dubai and Abu Dhabi in March

A new report released by HotStats has found that this year’s spring school holidays had a very positive effect on the hotels’ performance in Dubai and Abu Dhabi. Hotel occupancy in the two emirates was between nearly 82% to about 90% in March 2013. According to the study, that was due the schools’ spring holiday break, as well as the different sports and cultural events that were held in the region last month.

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Global Device Shipments up 9% in 2013 to Reach 2.4 Billion Units

Gartner Says Worldwide PC, Tablet and Mobile Phone Combined Shipments to Reach 2.4 Billion Units in 2013

Traditional PC Market Predicted to Decline 7.6 Percent as Change in Consumers’ Behavior Drives Transition to Tablets and Ultramobiles

Worldwide devices (the combined shipments of PCs, tablets and mobile phones) are on pace to total 2.4 billion units in 2013, a 9 percent increase from 2012, according to Gartner, Inc. Device shipments are forecast to continue to grow, reaching more than 2.9 billion units in 2017, but the mix of these devices will significantly change over the forecast period. Read more

Moody’s plans to downgrade debt ratings of 12 GCC banks

Moody’s Investors Service has today placed on review for possible downgrade the subordinated debt ratings of 12 banks in the six Gulf Cooperation Council (GCC) countries, namely Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. The affected banks are Arab National Bank, Banque Saudi Fransi, Abu Dhabi Commercial Bank, Emirates NBD PJSC, First Gulf Bank, Mashreqbank PSC, Commercial Bank of Qatar, Doha Bank, Qatar National Bank, Burgan Bank, Bank Muscat and BBK B.S.C. Read more

UAE ranks 24th among 144 countries, Global Competitiveness Report

Persisting Divides in Global Competitiveness as Switzerland, Singapore and Finland Top Competitiveness Rankings in 2012

• Competitiveness gap widening among European countries
• US remains world’s innovation powerhouse despite decline in overall ranking
• People’s Republic of China most competitive among large emerging markets; India, Russia fall

Switzerland, for the fourth consecutive year, tops the overall rankings in The Global Competitiveness Report 2012-2013, released today by the World Economic Forum. Singapore remains in second position and Finland in third position, overtaking Sweden (4th). These and other Northern and Western European countries dominate the top 10 with the Netherlands (5th), Germany (6th) and United Kingdom (8th). The United States (7th), Hong Kong (9th) and Japan (10th) complete the ranking of the top 10 most competitive economies.

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Dubai’s residential sector likely to overcome high supply in 2013, CBRE

The UAE has registered a solid economic performance for the year, bucking negative global trends that continue to hamper the recovery in Europe and the US. The latest figures from the IMF show a 4.0% growth for 2012, with non-oil sector GDP expanding by 3.3%. This trend is expected to continue during 2013 with the non-oil sectors growing by 3.5%. Read more

It’s for free(mium): New trend for smartphone apps

Nothing is impossible when it comes to setting prices for smartphone apps. In such a highly competitive market, freemium models are clearly on the rise. Staggered prices combined with cleverly communicated value are sure-fire ways to boost customer loyalty. Simon-Kucher’s international App Store Study reveals further ways in which apps are successfully sold. Read more

Global Consumer Confidence Increases One Point in Q3

• Sixty-Two Percent of Global Respondents Say They Are in a Recession;
• Sixty-Nine Percent Are Changing Spending Habits to Save More

Global consumer confidence increased one index point to 92 in Q3 2012, and is up four index points from the same period the previous year (Q3 2011), according to global consumer confidence findings from Nielsen, a leading global provider of information and insights into what consumers watch and buy. Read more

Financial systems across the world are stalling

• World Economic Forum Financial Development Report 2012 shows that financial systems across the world are stalling
• Hong Kong tops the Financial Development Index; top six economies remain the same as last year’s rankings. Japan and Switzerland each moved up one spot to 7th and 8th position respectively.
• The Report analyses 62 financial systems and capital markets around the world

Financial systems across the world are stagnating, leading to challenges for a global economic recovery, according to the fifth edition of the World Economic Forum’s Financial Development Report 2012 released today.

There have been improvements in the banking system, such as Tier 1 capital ratios and non-performing loans to total loans, this signifies only a small step forward in what has been a sluggish recovery. Read more

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