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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 can maintain fiscal surplus at US$23
Posted on 10/12/2008
UAE will be able to tide over the global economic melt-down as the country is well-positioned to maintain fiscal surplus in 2008 and 2009 since it has the lowest "break-even oil price” in the GCC of US$23 (Dh84.48) per barrel against the IMF's baseline petroleum price projection of US$68 per barrel for 2009, a report by Abu Dhabi Commercial Bank (ADCB) said.
The report said UAE's debt has been backed by foreign asset reserves that leaves the country's capacity unimpaired. The bank added that
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 Lubna praises Russia's robust economic growth
Posted on 11/11/2008
H.E. Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade, has praised the efforts made by Russia to overcome challenges and re-emerge as a global economic power.
Delivering a keynote speech at the Second Russian Investment Roadshow, opened yesterday in Dubai, Sheikha Lubna said Russia once again takes centerstage, this time in our own thriving city of Dubai and in the most economically vibrant country in the Middle East.
"In 2007, Russia achieved a remarkable ninth straight year
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 Mohammed bin Rashid inaugurates Global Agenda Councils' sessions
Posted on 08/11/2008
Vice President and Prime Minister of UAE and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum, opened yesterday the Global Agenda Councils' sessions in Jumeirah in Dubai.
Over 700 economists and heads of the economic councils, as well as Klaus Schwab, founder of the World Economic Forum are attending the sessions.
Sheikh Mohammed welcomed in the speech the participants, hoping for the success of summit and adoption of resolutions that would serve the world economy and ease
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![]() Industrial capital in UAE manufacturing exceeds US$20 billion
Posted on 04/11/2008
The UAE is investing heavily in its industrial manufacturing sector, stimulated by and the need to diversify the economy and booming economic growth which is fuelling demand for finished products and materials.
According to official figures released by the Ministry of Finance and Industry, the total cumulative industrial capital value of all non-oil and gas industrial projects in the UAE now exceeds US$ 20 billion, creating 290,000 jobs.
The Middle East Manufacturing Exhibition (MEMEX),
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![]() OBG releases The Report : Dubai 2008
Posted on 04/11/2008
Oxford Business Group (OBG), the global publishing, research and consultancy firm, has launched The Report: Dubai 2008, the latest of its annual business guides to the emirate.
Rated as the premier guide to Dubai, the publication features a series of exclusive interviews with leading political and economic figures in the emirate.
The interviews and the analysis of The Report, describe Dubai as a pro-business city based on solid convictions and strong commitments to override any challenge that
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![]() UAE’s external debt growth slows, touches US$170b in first half: Fitch
Posted on 02/11/2008
The pace of growth in UAE's external debt slowed in the first half of 2008 to reach US$170 billion, according to Fitch Ratings, a leading global rating agency.
After surging by 70 per cent in 2007 to D145 billion at end 2007, UAE's external debt slowed this year, rising by US$25 billion in first half, up 17 per cent, the rating agency said in a report published on Saturday.
Officials at the UAE Ministry of Finance and the Central Bank were unavailable on Saturday for their comments on the
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![]() UAE has a backup plan to weather financial crisis, says top official
Posted on 31/10/2008
The global liquidity crunch and financial market turmoil will not deter the UAE from implementing and delivering all announced projects on time because authorities have a back-up financing plan, says Hani Al Hamili, Secretary-General of the Dubai Economic Council (DEC).
"Even if the global credit situation worsens and the meltdown continues indefinitely, our government has its own source of finance to fall back on," Al Hamili said on the sidelines of a conference on value added tax this week.
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 UAE inflation may drop to 7%
Posted on 26/10/2008
Plunging oil prices and a stronger dollar will bring the UAE's annual inflation rate down to seven per cent from its last measured point of 11 per cent, a top official has said.
The lower price of oil has brought local diesel prices down while the weaker European currencies will result in cheaper imports of food and consumer goods, Salah Al Shamsi, Chairman of the Federation of Chambers of Commerce and Industry and the Abu Dhabi Chamber of Commerce and Industry, told Emirates Business.
Oil
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 UAE inflation likely at 12.9 per cent in 2008: IMF
Posted on 21/10/2008
Inflation in the UAE is likely to be 12.9 per cent in 2008, higher than 11.1 per cent in 2007, before easing to 10.8 per cent in 2009, according to International Monetary Fund's latest regional economic outlook report for the Middle East and Central Asia.
The IMF report, released on Monday, said that the inflation has emerged as a key issue in the Middle East and Central Asia, and is well above the average and emerging market countries.
According to the report, UAE's real gross domestic
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 Economy Mnister leads UAE delegation to GCC meetings
Posted on 12/09/2008
Economy Minister, Sultan bin Saeed Al Mansouri, is leading a UAE delegation to the 39th meeting of the trade cooperation committee and the 28th meeting of the industrial committee of member states of the Gulf Cooperation Council (GCC), which open yesterday in the Saudi port city of Jeddah.
The two ministerial meetings will discuss a number of issues on the agendas, including recommendations made by a task force of GCC trade and agriculture ministries, issues related to joint GCC actions and
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![]() Inflation in GCC to ease: IMF
Posted on 03/09/2008
The International Monetary Fund (IMF) said on Tuesday that record high inflation levels in the UAE and other GCC countries could be temporary as there were already signs of an easing in the price spiral in the wake of a dollar recovery.
In an exclusive interview with Khaleej Times, IMF's director for the Middle East and Central Asia Mohsin Khan said with the US dollar gaining strength, there are signs that in some GCC countries the inflation was in fact slowing.
"While the depreciation of
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![]() Abu Dhabi denies report on inflation
Posted on 03/09/2008
Abu Dhabi yesterday denied press reports that inflation in the emirate was as high as 12.88 per cent in the second quarter of this year and said it is working on a new index that will cover the whole UAE.
The Abu Dhabi Department of Planning and Economy (DPE) said the inflation figure reported by a Western news agency on Monday was incorrect.
"The inflation rate cited by the media yesterday is incorrect and inaccurate… the department is currently developing a methodology to calculate the
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 Investments in Abu Dhabi's Economic Zones rose to 12 billion in 2007
Posted on 07/08/2008
The volume of investments in Abu Dhabi's Economic Zones rose to Dh12 billion during 2007, according to a report by the Department of Planning and Economy in the Emirate.
Unveiled yesterday, the Socio-Economic Report (2007) for Abu Dhabi Emirate said the economy of Abu Dhabi continued to perform strongly throughout the 2007, thanks to the judicious privatization policies that the government has undertaken in recent years. Another factor which lent impetus to the strong growth of Abu Dhabi's
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![]() 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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