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| A comprehensive guide
to current and future events and exhibitions in the UAE |
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Valuable concise reference source on the UAE,
covering political system, economy, business, history and heritage,
education, women, healthcare, tourism and environment. |
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Natural history of the UAE,
covering all animals and plants recorded in the Emirates. |
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Report by National US Arab Chamber of Commerce on the UAE. Vol XV, No 3, June 2007. Includes analysis of UAE economy. |
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THE ECONOMY - ECONOMIC INFORMATION
![]() UAE tops in daily per capita consumer spending in world
Posted on 29/06/2008
The UAE tops in daily per capita consumer spending in the world, which is alarmingly as high as US$27, against US$3.5 in rest of the Arab world, says a study. This huge gap is set to expand even more, with the spending behaviour going unnoticed and in the absence of corrective measures.
According to initial findings of a recently conducted survey by the Department of Planning and Economy in Abu Dhabi on the income and spending of families shows that consumption tendency was alarmingly high as
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![]() Study to modify price index
Posted on 24/06/2008
Abu Dhabi will use the findings of a household spending survey this year to modify an outdated consumer price index to more accurately calculate inflation, a government official said yesterday. Abu Dhabi, the world's fifth-largest oil exporter, will begin calculating price rises based on the new index in the fourth quarter, said Butti Ahmed Al Qubaisi, assistant under-secretary for the Department of Planning and Economy. Inflation in Abu Dhabi hit 11.7 per cent in 2007 and held at 11.5 per cent
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 UAE recorded 11.1 percent inflation rate in 2007: Economy minister
Posted on 18/06/2008
The United Arab Emirates last year recorded an inflation rate of 11.1 percent, it was announced by the Economy Minister, Sultan bin Saeed Al-Mansouri. The figure, which reflects increase in prices of goods and services last year, is calculated by measuring the percentage change in prices of a representative basket of goods and services consumed by the average UAE household throughout the country.
The Minister highlighted the importance of the inflation index, which is based on the consumer
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![]() New report on inflation in Abu Dhabi
Posted on 15/06/2008
During the past year, the United Arab Emirates witnessed consecutive increases in housing rents, cost of production and prices of goods and services pushing the overall inflation rate in Abu Dhabi to 10.9% at the end of 2007 and to 11.5% in the first quarter of 2008, according to the recent Weekly Report by the Abu Dhabi Department of Planning and Economy.
"The interest rates prevailing in the UAE domestic market merely demonstrate a response to external conditions, but do not do not reflect
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![]() UAE participates in the Arab-Turkish economic forum
Posted on 13/06/2008
Istanbul - The United Arab Emirates is ranked as the most dynamic economy in the Arab world. The country is also seen as a shining example for the progressive Arab-Turkish relations, a senior official at the Ministry of Economy said.
Mohammed Ahmed bin Abdul Aziz Al Shihi, Under Secretary of the Ministry of Economy, made the remarks during a speech he delivered before the 3rd Arab-Turkish Economic Forum, which started yesterday in Istanbul.
The two-day forum is being attended by Turkish
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 UAE and Germany agree to bolster economic cooperation
Posted on 12/06/2008
The seventh meeting of the UAE-German joint committee for economic, trade and technical cooperation concluded in Berlin on Tuesday with a call to boost cooperation between the two countries. The meeting was jointly presided over by UAE minister of economy HE Sultan bin Saeed Al Mansouri and Dr. Bernd Pfaffenbach, Administrative Secretary of State, Ministry of Economics and Technology of Germany. The two-day meeting discussed a host of issues in an effort to enhance economic cooperation between
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![]() Ordinance issued on unified economic index
Posted on 12/06/2008
Minister of Economy HE Sultan bin Saeed Al Mansouri has issued a ministerial ordinance regarding the country's unified economic index. The ordinance, which comes as per an authentication from the federal cabinet, sets up a committee to amend and update the existing economic index and classify various economic activities in the country into a unified system. Assistant Undersecretary for corporate affairs at the Ministry of Economy Humaid bin Batti Al Muhairi said that the new classification of
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![]() Curbs on sharp salary rises planned
Posted on 03/06/2008
The emirate of Abu Dhabi will take measures to curb sharp increases in local workers' salaries to tempt foreign investors as part of its ambitious five-year economic diversification strategy, according to an official report.
The Abu Dhabi Department of Planning and Economy (DPE) said checking soaring costs of projects and manpower would support its 2008-2012 strategy, which gives priority to attracting capital and expanding the private sector.
In a report outlining the strategy, the DPE said
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 DPE weekly report emphasises social obligations of the private sector
Posted on 25/05/2008
The weekly report published by Abu Dhabi's Department of Planning and Economy (DPE) has urged the private sector to fulfill their various social, cultural and moral initiatives of paramount value to the community.
The report said that the world trend toward market economy has led governments to waiver their traditional obligations toward communities gradually, which maximized private sector responsibility.
'The aspired role of the private firms is no longer limited to money making only, but
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 ADCED calls for boosting investment awareness
Posted on 25/05/2008
Abu Dhabi Council for Economic Development (ADCED) has called for diverting cash liquidity surplus in Abu Dhabi into direct investment through boosting investment awareness. The ADCED reiterated in its recent report that "the chance is now open for specified small enterprise investment by setting up serious productive projects that will contribute in expanding productive base in the economy and curb negative phenomena, which accompany economic prosperity". It added that there should be advanced
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![]() WEF previews Global Agenda Summit in Dubai
Posted on 20/05/2008
The World Economic Forum announced on Monday the launch of a committee of leading experts on the Future of the Middle East.
The group "the Global Agenda Council on the Future of the Middle East" is one of more than 80 that will set up to tackle key global issues. For each major topic the Forum will identify and convene 15 to 30 of the world's leading experts to capture the very best knowledge on each issue and integrate it into global collaboration and decision-making processes. All the
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 UAE, Japan discuss boosting ICT collaboration
Posted on 05/05/2008
UAE Minister of Economy Eng. Sultan Bin Saeed Al Mansouri and Japanese Government and private sector representatives on Sunday discussed mutual collaboration in information and communications technology (ICT). Both sides affirmed the UAE?s status as Japan's primary trade partner in the Middle East. The meeting also explored ways to further boost UAE-Japan cooperation in the field of ICT and related services.
The Japanese delegates discussed their country's leadership in traffic information;
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![]() Private sector needs restructuring: Report
Posted on 27/04/2008
The Private sector needs to make better use of the available government incentives and stimulating policies to boost its capacity so as to raise its contribution to the Gross Domestic Product of Abu Dhabi (Dh401.6 billion in 2007) which stood at 18.2 per cent last year, according to the weekly media report issued by the emirate's Department of Planning and Economy.
Under the rapid transformations in the global economy, the report added, the government of Abu Dhabi would opt to widen the scope
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 UAE inflation to hit 12% as Fed cuts rates, says Merrill
Posted on 23/04/2008
Continuing interest rate cuts by the US Federal Reserve and their expected echo in UAE monetary policy will push the UAE inflation rate to 12 per cent this year from an estimated 10 per cent in 2007, analysts have said.
Another cut of 25 basis points in the Fed fund rate is expected to be announced after the April 29-30 meeting of the Federal Open Market Committee in Washington, investment bank Merrill Lynch's global economics team said in a report released yesterday. Their projection is based
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 Abu Dhabi Economy & Planning Dept. to launch weekly report
Posted on 20/04/2008
A new weekly report for the media will be launched next week by the Department of Planning and Economy in Abu Dhabi, it was announced. The new report which will be distributed to local media outlets will be providing in-depth analysis and statistics on the most significant economic issues in the emirate of Abu Dhabi. The announcement was made at a press briefing by assistant undersecretary at the Department Butti Ahmed Al-Qubaisi who underscored the role of the media as an effective instrument
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