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UAE, Namibia discuss joint cooperation
Dubai to boost public spending by 20pc, Merge Entities
Cabinet approves new organisational structure of the Ministry of Economy
Qatar, UAE to stay richest among Arab countries
UAE cushioned by surge in oil revenue, strong fiscal position
Economic diversification and openness drive UAE economy growth: Mansouri
UAE-China Joint Economic Committee sign minutes of 5th round of talks
UAE-China Joint Committee opens fifth round of talks in Abu Dhabi
UAE, Italy sign minutes of joint economic committee's meetings
UAE records highest Arab FDI growth
Capital to grow more than 17% by year-end
UAE economy strong enough to face global financial crisis
Slower growth good for UAE, says S&P
UAE looks forward to stronger Islamic cooperation on investments: Economy Minister
UAE tops prosperity index in the Arab World

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UAE, Namibia discuss joint cooperation
Posted on 28/12/2008

Economy Minister, Sultan bin Saeed Al-Mansouri has received Namibian Minister of Trade and Industry, Hage Geingob and discussed with him bilateral relations between the two countries and ways to boost them in the areas of economy, investment and industry. They stressed the need to boost the level of trade of exchange to commensurate with the economic development in both countries. The Namibian minister made a presentation about the existing investment opportunities in his country, ...  >>MORE



Dubai to boost public spending by 20pc, Merge Entities
Posted on 28/12/2008

xThe Government of Dubai plans to boost public spending by 20 per cent next year to stimulate the economy and keep pace with its infrastructure development targets, Nasser Al Sheikh, Director-General of Dubai's Department of Finance, told Khaleej Times in an exclusive interview on Saturday. To better-position itself to face challenges posed by the global economic crisis and its impact on the domestic economy, government also plans to merge and consolidate operations of some of its departments ...  >>MORE



Cabinet approves new organisational structure of the Ministry of Economy
Posted on 25/12/2008

The UAE Cabinet has approved the new organisational structure of the Ministry of Economy (MoE), which complements the ministry's Strategic Plan 2008-10. The new structure comes in line with the ministry's guidelines to update and strengthen its operational strategies to comply with the requirements of the coming phase. HE Engineer Sultan Bin Saeed Al Mansouri, Minister of Economy, said the new organizational structure marks a turning point in the history of the Ministry as it comes in line ...  >>MORE



Qatar, UAE to stay richest among Arab countries
Posted on 15/12/2008

Qatar and the UAE remained the wealthiest Arab nations in 2007 and are expected to maintain that position this year because of high growth in their economies, according to official estimates. Although they have recorded one of the highest population growth rates in the world over the past 10 years, strong performance of their hydrocarbon sector has allied with massive public and private investment to catapult the two countries to the forefront of the club of wealthy nations. The figures by ...  >>MORE



UAE cushioned by surge in oil revenue, strong fiscal position
Posted on 15/12/2008

A surge in the UAE's petrodollar earnings in 2008 will ally with its strong fiscal balance to offset losses from the global financial crisis, a key Saudi bank said yesterday. The massive overseas assets along with its diversified economy will also allow the UAE to maintain real growth in 2009 despite the global crisis and an expected decline in its oil output because of slackening world crude demand, the Saudi American Bank (Samba) said in its monthly economic bulletin. Citing estimates by ...  >>MORE



Economic diversification and openness drive UAE economy growth: Mansouri
Posted on 04/12/2008

HE Sultan Bin Saeed Al Mansouri, Minister of Economy, has said that concerted efforts to diversify the economy and a policy of openness adopted by the UAE's leadership have been the prime drivers in establishing the UAE as the second largest Arab economy. In an interview with Sama Dubai on the occasion of the UAE National Day, Al Mansouri said that the country's GDP rose from Dh6.5 billion in 1971 to Dh730 billion in 2007, an increase by 112 times, which is the result of the wise economic ...  >>MORE



UAE-China Joint Economic Committee sign minutes of 5th round of talks
Posted on 29/11/2008

The UAE and China signed the minutes of the 5th meeting of the Joint Economic Committee which concluded a round of talks in Abu Dhabi to further promote relations and find ways overcome barriers to achieving the goals set by bilateral agreements and MOUs. The minutes was signed on Thursday by Undersecretary of the Ministry of Economy Mohammed Ahmed Bin Abdul Aziz Al Shehhi and Vice Minister of Commerce of China Dr. Gao Hucheng who both led the talks. Al Shehi expressed satisfaction at the ...  >>MORE



UAE-China Joint Committee opens fifth round of talks in Abu Dhabi
Posted on 28/11/2008

The UAE-China Joint Economic Committee opened its fifth round of talks in Abu Dhabi yesterday with high ranking officials from both side attending the meeting. Under Secretary of the Ministry of Economy Mohammed Ahmed Bin Abdul Aziz Al Shehhi led the UAE side while Vice Minister of Commerce of China (PRC) Dr. Gao Hucheng led the Chinese side at the talks. The fifth round of talks draws major importance as it comes against the backdrop of exceptional global economic situations. The meeting ...  >>MORE



UAE, Italy sign minutes of joint economic committee's meetings
Posted on 26/11/2008

The UAE-Italy Joint Economic Committee concluded on Monday a series of meetings in Abu Dhabi with the signing of the minutes by UAE Minister of Economy Sultan Bin Saeed Al Mansouri and Italian State Minister for Foreign Trade Adolfo Urso. At the signing ceremony, Al Mansouri underscored the outcome of the meetings which he said contribute to stronger economic relations between the two countries and set a new beginning for cooperation and trade. The UAE and Italy, he added, are keen on ...  >>MORE



UAE records highest Arab FDI growth
Posted on 25/11/2008

The UAE has recorded the highest growth in foreign direct investment (FDI) in the Arab World over the past seven years because of a surge in its economy and the opening up of more sectors, according to official data. Between 2005 and 2007, the UAE also emerged as the second largest Arab capital exporter after Kuwait, with an outflow of more than US$20 billion (Dh7.34bn), nearly a third of the total outgoing Arab FDI, showed the report by the Kuwait-based Inter-Arab Investment Guarantee ...  >>MORE



Capital to grow more than 17% by year-end
Posted on 10/11/2008

Abu Dhabi's growth rate will exceed 17 per cent by the end of 2008 and the emirate's economy will remain strong despite the international financial meltdown, according to the head of the Department of Planning and Economy. "Abu Dhabi's strong economy will continue to grow and the capital will attempt to link up more with the global economy through the enhancement of the private sector's role," said Chairman Nasser bin Ahmed Al Suwaidi. "The Swiss KOF Index of Globalisation, which measures the ...  >>MORE



UAE economy strong enough to face global financial crisis
Posted on 06/11/2008

Following the decisions taken by the government in response to the international financial crisis, liquidity is available in the UAE, says Economy Minister Sultan bin Saeed Al Mansouri. And the economy is strong enough to deal with the repercussions of the global meltdown. "The UAE economy will enjoy a good growth rate but 2009 will be a real test for the global and UAE economies," Al Mansouri told Emirates Business at the International Talent Conference organised by etisalat. "There is full ...  >>MORE



Slower growth good for UAE, says S&P
Posted on 06/11/2008

The current liquidity squeeze and the consequent slowdown in economic growth can be positive for the UAE as it could alleviate infrastructure and resource bottlenecks that had been stoking inflationary pressures, Standard & Poor's (S&P's) Ratings Services said. A slower growth will also reduce the risk of a significant oversupply in the real estate market, the rating agency said in its latest report. S&P's said liquidity would remain tight in the medium term, resulting in a slow-down of ...  >>MORE



UAE looks forward to stronger Islamic cooperation on investments: Economy Minister
Posted on 25/10/2008

Istanbul - UAE Economy Minister Sultan Bin Saeed Al Mansouri said the UAE has one the Regions' most competitive economies in terms of attracting foreign investments. The UAE ranks 31st globally in Davos Global Competitiveness Index (GCI) for 2008-2009, issued by Davos World Economic Forum and first in the Middle East and North Africa (MENA) region and first on the Arab World Competitiveness Index. It also ranks 23rd globally on the Davos Business Competitiveness Index (BCI) for 2008. Al ...  >>MORE



UAE tops prosperity index in the Arab World
Posted on 16/10/2008

The UAE has been rated the best country in the Arab World in promoting prosperity and general satisfaction with life in a global survey of 104 states. The country – which was placed 28th in the world – owes its high ranking to Dubai's diversified economy, according to the report by the Legatum Institute. "Within the UAE, Dubai has moved past dependence on oil exports towards a more diversified economy based on attracting international capital and talent," says the institute, an independent ...  >>MORE

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