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Natural history of the UAE,
covering all animals and plants recorded in the Emirates. |
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THE ECONOMY - ECONOMIC DEVELOPMENT
![]() Department of Economic Development issues 14,360 licences In 2011
Posted on 09/02/2012
Key economic sectors and economic activity in Dubai remained stable and growing in 2011, with the Department of Economic Development (DED) issuing 14,360 business licenses during the year. The professional services sector, at seven per cent, accounted for the most number of licenses in 2011 followed by the tourism sector at five per cent.
The top ten business activities in Dubai accounted for 12,527 - 24.8 per cent - of the 50,589 activities for which licenses were issued in 2011, compared to
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![]() Dubai will meet debt maturities in 2012, says report
Posted on 06/02/2012
Dubai will overcome its debt maturities in 2012 with the help of internal cash flow, asset sale and market refinancing, said a report.
Lebanese Bank Audi analysts said in a report that Dubai is indeed likely to be able to manage the rollover of its 2012 debt maturities through a combination of internal cash generation, potential asset sales and market refinancing.
Investment bank JP Morgan also said in a report last month that Dubai's government-related entities (GREs) can pay down or
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![]() UAE Minister of Economy discusses key economic issues at Davos
Posted on 29/01/2012
Davos - Sultan Al Mansoori, UAE Minister of Economy, said the Arab Spring, which began one year ago, presents challenges to the economies across the region, but also opportunities.
Speaking to the Media at the World Economic Forum in Davos, he added that the UAE, as a stable, secure state, will see some immediate short-term benefits as investment flows to safe havens, but in the longer term, all economies in the Middle East will benefit.
"The Arab Spring presents an opportunity for all
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 UAE proves keen to keep an edge
Posted on 23/01/2012
The UAE and South Korea have linked up in an effort to ensure the competitiveness of their national economies and maintain an edge over nearby rivals.
The Emirates Competitiveness Council (ECC) has partnered its South Korean counterpart to boost productivity in the UAE economy. It has also signed research and development deals with universities in both countries intended to bolster strategic industries.
The two countries are seeking to share expertise of economic management that has led to
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 UAE most diversified economy in Middle East
Posted on 23/01/2012
The UAE was the most diversified economy in the Middle East, more than many of the developed countries, according to IMD World Competitiveness Centre Index.
The index ranked the emirate as the 26th most diversified economy in the world, more diversified than Norway (29), Hong Kong (30), Australia (32), Spain (45), Portugal (47), New Zealand (48), Luxembourg (51), Greece (54) and Russia (58).
IMD rated Canada just one notch above the UAE, ranking it 25th most diversified economy globally.
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 The UAE is the second best Arab economy in 2011: Forbes - Middle East
Posted on 10/01/2012
The UAE has been ranked the second best Arab economy, according to "Forbes - Middle East" study 2011.
According to the study, the high oil prices, witnessed during the past year, have contributed to the achievement of profitable revenue growth in the economies of the Arab oil-exporting countries, 7 of which topped the list of "2011 Top Performing Economies in the Arab Region." Saudi Arabia topped the list, followed by the UAE in the second place, Qatar in third place and Oman in fourth place.
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![]() Mohammed bin Rashid issues decree on fines levied on economic establishments
Posted on 09/01/2012
Vice-President and Prime Minister of UAE His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as the Ruler of Dubai, has issued a decree on the value of fines imposed on the economic establishments in the Emirate of Dubai.
The Decree No. 1/Year 2012 stipulates to reduce the amount of the fines in accordance with the rates and periods specified in the table annexed with it. The violations existed prior to the issue of the decree on 5th January 2012 only will be eligible for
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 Global uncertainty causes slump in UAE non-oil sector's output
Posted on 05/01/2012
Business growth in the UAE's non-oil private sector slumped to a four month low in December, according to the latest HSBC Purchasing Managers' Index (PMI).
Output and new order growth both rose at weaker rates last month while employment levels stagnated, the report said. The situation is also unlikely to improve dramatically in the first quarter of 2012 because of the gloomy global economic scenario.
The HSBC PMI, which measures business activity of 400 private firms in the UAE across
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 Abu Dhabi registers 893 firms
Posted on 02/01/2012
The Abu Dhabi Department of Economic Development (ADDED) registered 893 new construction firms under 42 categories last year, a statement said.
It has also renewed 813 licences and modified 26.
Licence renewals increased by 30 per cent compared to 623 renewals in 2010.
Since the implementation of new regulations, 42 engineering consulting offices were classified in Abu Dhabi, whereas the number of registered and classified engineering consulting offices amounted to 684.
Equal
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![]() UAE families see uptick in Q4 expenditure
Posted on 26/12/2011
Nearly half of UAE-citizen families in Abu Dhabi expect their monthly spending will go up in the fourth quarter of the year, according to opinion polls results.
The findings further reveal that household borrowing in the capital went up 3.8 per cent and more than 19 per cent of expenditure accounts for payment of loan instalment.
“Forty-eight per cent of citizen families, expected that their monthly expenditure would increase during the fourth quarter of this year,” according to the
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 MoE: Price-related complaints on the rise
Posted on 19/12/2011
The Ministry of Economy (MoE) has received 6,195 complaints related to price hikes this year and this includes 1,200 complaints, which were filed after the UAE President issued a decision to increase the salaries of federal authority staff earlier in the month.
Dr Hashim Al Nuaimi, director of the Consumer Protection Department, said that the ministry had received 407 complaints in the first quarter, 598 in the second, 1,403 in the third and 258 during September and November.
He explained
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 Al Mansoori: GCC common market is able to become an influential cluster on the global economic map
Posted on 15/12/2011
Sultan Al Mansoori, UAE Minister of Economy, said GCC countries have a golden opportunity to support the performance of the GCC common market to be an influential cluster in the international arena such as the European Common Market. He referred to the possibility of achieving this, especially as the Gulf economy has the ability to take advantage of various new economic opportunities in the world and always fully prepared for integration in the global economy.
Al Mansoori was speaking during
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 UAE back in top 25 global rankings
Posted on 11/12/2011
The UAE has managed to overcome several obstacles to return to the Top 25 rankings of countries based on brand attributes established by FutureBrand in its 2012 Country Brand Index report.
What makes it even more compelling is that this was achieved in a particularly volatile year for the neighbourhood.
Lana Bdeir, managing director of FutureBrand Middle East and Africa, said: "Given the backdrop of the Arab Spring, the UAE has clearly come out as a secure place to live and work in the
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![]() UAE remains a major hub for foreign investment
Posted on 08/12/2011
The UAE plays a vital role in re-energising trade and investment worldwide and is now the regional headquarters of over 25 per cent of the top 500 companies in the world, said Shaikha Lubna Al Qasimi, Minister of Foreign Trade.
Speaking at the official release of Why UAE, a new book about setting up business here, and the official launch of the UAE foreign trade relations map, Shaikha Lubna said the UAE is now diversifying its economy by relying on non-oil sectors.
With regard to the
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 Dubai makes progress in cutting debt, but challenges remain
Posted on 07/12/2011
The Dubai government and its state-owned entities have come a long way in tackling its maturing debt during the last two years, with the government now facing significantly lower liabilities, rating agency Moody's Investor Services said yesterday.
Despite the consistent improvement in governance, transparency and discipline shown by Dubai entities that resulted in the upgrading of credit ratings for some of these entities, Moody's said that some of these entities continue to face refinancing
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