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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 - GOLD
 UAE records Dh3.6 billion gold sale in Q2 of 2008: WGC Report
Posted on 18/08/2008
The World Gold Council's regional office in Dubai announced that the UAE gold sales increased from Dh3 billion in the second quarter of 2007 to Dh3.6 billion contributing to a 20% increase. The same positive sales value increase was recorded in KSA as gold sales increased by 14% and 2% in other Gulf countries. Additionally, Egypt witnessed an astounding sales increase of 48%.
The high and volatile gold price continued to dampen demand in tonnage terms during Q2, particularly for jewellery.
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 Dubai Q2 gold imports down 2.1 pct
Posted on 10/08/2008
Dubai's second-quarter gold imports fell 2.1 percent to 143 tonnes, compared with a year ago, and exports plummeted 15.8 percent to 64 tonnes, figures from the Dubai Multi Commodities Centre (DMCC) showed on Saturday. The Gulf Arab emirate's total gold imports for the first half of 2008 were down 4.7 percent, at 265 tonnes. Total exports during the same period rose 26.1 percent to 179 tonnes, according to figures in a DMCC statement.
Gold trade through Dubai reached $6.01 billion in the first
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 Dubai gold sales up by 17% in June
Posted on 08/07/2008
Dubai's gold jewellery sales volume rose 17 per cent in June after picking up in the second quarter on expatriate demand, a senior gold industry executive in the Gulf Arab emirate said on Monday. "After prices became less volatile and relatively lower later in the quarter demand picked up by almost 15 per cent, and in June it was up by more than 17 per cent," Tawhid Abdullah, managing-director of the Dubai Gold and Jewellery Group told Reuters. "We are also entering the peak of summer where
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 Dubai gold trade hits US$35b in '07
Posted on 18/06/2008
The growth so far has been tremendous. Dubai has the highest concentration of jewellery shops in the world, and the industry witnessed trade worth US$35 billion last year, accounting for 20 per cent of the global jewellery trade of US$173 billion in 2007, said the Chief Executive Officer of Dubai Shopping Festival(DSF) and Dubai Summer Surprises(DSS).
Laila Suhail, addressing the press conference announcing The Dubai Gold and Jewellery Group (DGJG)'s support for the coming DSS.
She added:
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 UAE gold sales jump 15% to Dhs3.1b in Q1
Posted on 22/05/2008
The World Gold Council's regional office in Dubai announced that the UAE gold sales increased from Dh 2.7 billion in the first quarter of 2007 to Dh 3.1 billion contributing to a 15 per cent increase.
The same positive sales value increase was recorded in Saudi Arabia as gold sales increased by 7 per cent. Additionally, Egypt witnessed an astounding sales increase of 64 per cent.
The sharp rise in the gold price, which briefly touched record levels above $1,000/oz in mid-March, was a key
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 Dubai gold sales up by 30 per cent
Posted on 13/04/2008
Dubai reported a 30 per cent increase in gold sales from 2006 to 2007 – despite record price highs for the yellow metal – thanks to gold and jewellery retailers in the emirate taking measures to boost sales, industry leaders attending the sixth annual Dubai City of Gold Conference said. Speakers at the two-day conference being held at Dubai's Park Hyatt hotel added that high prices reiterate the gold's core investment value. However, they added, that the jewellery trade had been hit by the
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 High prices lower Abu Dhabi gold sales in February
Posted on 10/03/2008
Record prices have frightened gold buyers in Abu Dhabi, depressing the precious metal's sales volume by 20 per cent in February, the emirate's Gold and Jewellery Group chief said. "Just as the market started to recover in January, prices started to rise again and almost hit US$1,000 an ounce, so many buyers stayed away from the market... but in terms of value the market was unchanged," Tushar Patni told Reuters. "But as we approached March, they started to get accustomed to the new price levels
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 UAE gold sales shine despite rising prices
Posted on 17/02/2008
Retail gold sales in the UAE increased 24 per cent in value terms last year as jewellery consumption increased by eight per cent over 2006 despite the 15 per cent increase in gold prices, the World Gold Council's regional office in Dubai said on Saturday. Overall, gold consumption in the Gulf region increased 19 per cent as Saudi Arabia and Egypt reported sales growth of 33 per cent and 29 per cent respectively.
High and volatile gold prices had a major impact on the fourth quarter of 2007.
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 Abu Dhabi gold sales recovering after '07 slump
Posted on 10/02/2008
Abu Dhabi's gold sales, hit by last year's record prices, are slowly recovering as buyers adjust to current high prices, the Gulf emirate's Gold and Jewellery Group chairman said on Saturday. "The market recovered in January and was unchanged compared to the same period in 2007 ... so we cannot complain after what we saw at the end of last year," Tushar Patni told Reuters. "The buyers are now accustomed to current price levels, and we think the market is set to see positive sales figures in the
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 UAE consumer confidence falls but remains positive
Posted on 06/02/2008
Consumer confidence in the UAE has declined in the past six months, according to the latest MasterCard Worldwide Index of Consumer Confidence findings for the first half of 2008.
From a score of 88.8 six months ago out of a possible score of 100, the UAE index came down to 78.5. Indications for the UAE are that consumer sentiment is overall positive and optimistic with a high index score.
In the Middle East and Levant, the UAE ranked third in consumer confidence with Kuwait (93.3) and Saudi
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 Dubai Gold Receipt enables financing of over US$100 million
Posted on 06/02/2008
Secured financing has reached unprecedented levels in the UAE with the Dubai Gold Receipt (DGR) enabling financing of over US$100 million over the past eight months, according to an announcement from Dubai Multi Commodities Centre (DMCC). Gold traders, bullion banks and vault operators have used DGR, an electronic vault receipt system operated by DMCC, to enable US$103.8 million of financing against a total of 4,442 kgs of gold and 1,500 kgs of silver stored in DMCC-approved vaults in the UAE.
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 Dubai 2007 gold trade increases 29% to US$19.03bn
Posted on 27/01/2008
The total gold trade through Dubai reached US$19.03 bn in 2007, an increase of 29% from 2006, according to a statement by Dubai Multi Commodities Centre (DMCC).
In 2006, Dubai's gold trade was estimated at US$14.75 bn, up from US$10.73 bn in 2005.
A total of 559 tonnes of gold was imported into Dubai in 2007, up by 14% from 489 tonnes in 2006. Exports from Dubai increased marginally to 287 tonnes compared to 274 tonnes in 2006. Gold price averaged US$696 per ounce in 2007, up from US$604 per
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![]() 55pc increase in Dubai gold trade
Posted on 25/10/2007
Gold trade through Dubai reached US$5.23bn in the third quarter of 2007, an increase of 55pc from USD 3.37bn during the same period in 2006, Dubai Multi Commodities Centre (DMCC) announced Thursday.
"A total of 174 tonnes of gold was imported into Dubai in the third quarter of 2007, 47pc higher than 118 tonnes in the same period in 2006. This is the highest third quarter imports recorded in the last seven years. During the same period, a total of 68 tonnes of gold was exported from Dubai,
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 Abu Dhabi gold sales down 20%
Posted on 03/10/2007
The volume of Abu Dhabi's gold sales fell 20 per cent in September, and 10 per cent in the third quarter versus the same periods a year earlier, due to high gold prices, its Gold and Jewellery Group chief said yesterday.
"September was a very quiet period for gold sales in terms of both volume and value due to the very high gold prices and October did not start on a positive note either," Tushar Patni said. Demand from foreign workers and residents in Abu Dhabi buying gifts to take home
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 Dubai August gold futures trade up 20%
Posted on 20/09/2007
Dubai's commodities exchange said yesterday it traded 48,780 gold futures contracts worth US$1.04 billion in August, a 20 per cent rise over the previous month, as investors returned to the market after the summer vacation.
Gold is seen as a safe-haven metal and as a hedge against inflation. The metal is also influenced by oil, currency moves, and generally trades in the opposite direction to the dollar.
Dubai, the Gulf trade and tourism hub, launched the region's first gold futures exchange
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