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Valuable concise reference source on the UAE,
covering political system, economy, business, history and heritage,
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Natural history of the UAE,
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THE ECONOMY - ECONOMIC DEVELOPMENT
 Arab media sheds light on UAE economy
Posted on 04/12/2009
Media across the Arab world continued to shed light on the strength of the UAE economy and its resistance to the repercussions of the global economic crisis.
Tunisia's 'Al-Shurooq' daily newspaper said that despite the global economic crisis which cast its shadow on the entire world, the UAE is braving the fallouts and is continuing to implement its developmental projects spread across the seven emirates, especially in Abu Dhabi and Dubai.
The projects are progressing forcefully as per the
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 Three women enter ADCCI election fray for first time
Posted on 03/12/2009
For the first time in the history of the Abu Dhabi Chamber of Commerce and Industry (ADCCI), three women are in the fray for the election of its board of directors.
The ADCCI elections will be held on Monday and all 72,226 members of the ADCCI are expected to take part in the voting.
The three women candidates are: Fatima Al Jaber, CEO of the Al Jaber Group, and Noura Jasem Al Nowais, CEO of Al Benaa Real Estate Investment – both UAE nationals – and Egyptian Himat Mohammed Mahmoud, who is
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 UAE inflation at 1.9% in first 10 months of 2009
Posted on 25/11/2009
Annual consumer inflation in the UAE averaged 1.9 per cent in the first 10 months of the year but prices fell 0.1 per cent month-on-month in October itself, official figures showed yesterday.
Year-on-year only clothing, health and entertainment categories decreased in cost, the ministry of economy's national bureau of statistics said in a statement published on its website.
Rent and utility prices increased 0.96 per cent year on year in the first 10 months, revealed the figures.
Monica
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![]() Contribution of non-oil should be increased for long run economic growth, Mohammed Omar Abdullah
Posted on 24/11/2009
H.E Mohammed Omar Abdullah, Under Secretary of Department of Economic Development in Abu Dhabi has underlined the need to increase the contribution of non oil sector for long term economic development of Abu Dhabi.
"We generate our main income from oil, however this is not enough in the long run and we have to increase the contribution of non oil sector for maintaining economic stability", he said while interacting with foreign journalists at ECSSR on Monday. These journalists have been
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![]() UAE economy could expand 5% in 2010
Posted on 24/11/2009
The UAE is poised to make a strong comeback from the nearly flat growth it experienced last year and growth next year will be more sustainable compared to the boom of 2008, according latest projections.
"We are seeing a fundamentally strong recovery taking shape in the Gulf region with the UAE and Saudi Arabia leading the trend. We estimate Dubai will grow about 3 per cent next year and the UAE economy as a whole will experience about 5 per cent growth,” said Marios Maratheftis, Regional Head
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 UAE economy to see sharp rebound in 2010
Posted on 19/11/2009
Lower oil production will ally with slowing construction activity to try and depress the UAE economy in 2009, but the economy is expected to rebound by nearly four per cent in 2010, the Economist Intelligence Unit (EIU) said yesterday.
In a statement sent to Emirates Business, the London-based information unit said it had cut its earlier forecasts about the contraction in the UAE's gross domestic product (GDP) this year from four to 3.5 per cent following an improvement in oil prices and
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 Economy Ministry will follow up results of UAE-UK Joint Economic Committee meeting, Mansouri
Posted on 16/11/2009
HE Engineer Sultan Bin Saeed Al Mansouri, UAE Minister of Economy said the Ministry has adopted a focused programme of action to follow up on the results of the previous UAE- UK Joint Economic Committee Meeting and to ensure that the implementation of the agreed decisions is running smoothly.
Al Mansouri said that both countries should benefit from the successful results of the committee meeting.
"The implementation programme will help to enhance the economic ties between our countries. We
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 UAE non-oil economy to rise 2.1% despite sharp drop in oil output
Posted on 16/11/2009
Heavy public spending triggered by the global fiscal crisis will boost the UAE's non-oil economy by 2.1 per cent in 2009 despite a sharp decline in the country's oil production, said a Saudi investment firm yesterday.
NCB Capital, an affiliate of Saudi Arabia's largest bank, National Commercial Bank, also said the recent surge in crude prices had prompted it to revise its projection of the UAE's fiscal balance to a surplus this year.
In its weekly bulletin, NCB Capital said the UAE's real
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 Mansouri stresses need to unify efforts for economic development
Posted on 14/11/2009
HE Eng. Sultan bin Saeed Al Mansouri, Economy Minister, has underlined the need to unify Arab efforts in supporting common economic interest and increasing trade among Arab countries.
During his meeting with HE Mohammed Al Hussein, Syrian Minister of Finance, said that investment opportunities would have to be explored that could benefit economic growth in the Arab world.
HE Dr. Rostom Al Zoubi, Syrian Ambassador to the UAE and a number of senior officials were also present.
They underscore
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![]() UAE shines as GCC poise to attract $45bn investments by 2014, KFC report
Posted on 12/11/2009
The GCC civil aviation sector is poised to attract more than $45 billion (Dh165bn) in investments over the next five years, according to a new research by Kuwait Financial Centre (Markaz).
The UAE is well ahead of other GCC countries on this count, with its new Al Maktoum International Airport in Jebel Ali's Dubai World Central development due to open in the middle of next year, and with the airport expected to increase the country's capacity by an additional 120 million passengers, says the
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 Innovation is driving force for further developing Islamic world: Al Mansouri
Posted on 09/11/2009
Istanbul - H.E. Sultan bin Saeed Al Mansouri, UAE Minister of Economy, said that innovation is the driving force for the development of the Islamic world. He was addressing the COMSEC Ministerial Meeting held in Istanbul.
Al Mansouri urged Islamic nations to join hands and strengthen the level of coordination to explore promising investment opportunities. He also called for more cooperation in small and medium businesses, industries and agriculture.
He said the Islamic world with a
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 COMSEC opened, Minister of Economy heads UAE delegation
Posted on 08/11/2009
Istanbul - Turkish President Abdullah Gul opened here yesterday morning the twenty-fifth meeting of the Permanent Ministerial Committee for Economic and Commercial Cooperation (COMCEC) of Organisation of Islamic Countries (OIC). The UAE delegation to the meeting is headed by Minister of Economy HE Sultan Bin Saeed Al Mansouri.
The issues such as the global financial crisis, cooperation between member states and the fight against poverty are among the items topping the meeting's agenda.
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 Capital to spend US$1tn on major projects
Posted on 03/11/2009
Abu Dhabi will spend US$1 trillion (Dh3.67tn) on major infrastructure, property and manufacturing projects, the Minister of Economy said.
The unprecedented infrastructure spending comes as the emirate speeds up its economic diversification plans in response to the global financial crisis, with projects valued at more than $100 billion under way.
"The planned investments to be implemented through public and private partnerships in infrastructure, real estate and manufacturing sectors over
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![]() IMF praises UAE's handling of crisis
Posted on 02/11/2009
An International Monetary Fund (IMF) mission has praised the policies and measures taken by the UAE to overcome the fall out of the global financial crisis.
The IMF mission is visiting the country within Article 4 consultation report to collect data and to be familiar with the economic developments for an assessment report. The mission met with Minister of State for Financial Affairs Obaid Humaid Al Tayer.
It said financial policies have played an important role in supporting and
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 Abu Dhabi's inflation drops 1.2% in first nine month: SCAD
Posted on 25/10/2009
Statistics Centre- Abu Dhabi (SCAD) issued this week its first detailed report on consumer prices index (CPI) and the rate of inflation in the Emirate of Abu Dhabi. According to the report, the rate of inflation in the Emirate has dropped to only 1.17% during the first nine months of the current year, compared with the same period last year, as evident from the consumer price index.
Statistics Centre - Abu Dhabi (SCAD) will be releasing its CPI report periodically, Considering that the report
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