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Banking Sector May Lead New Job Creation


Middle East : 11 April 2010

The results for the first quarter for the Middle East Banking Sector have just been released and it is looking very positive for the economy in the UAE. It has just been revealed that mergers and acquisitions volumes rose by almost 300% during the first three months of this year. There is currently over $10.7 billion promised in new deals and this actually makes it the busiest quarter in the Banking Sector since 2007.

Real Estate and Industry in the UAE were stronger than any other region and this certainly bodes well for future jobs in the United Arab Emirates. Many Banks will be recruiting this year but the key areas will be for specialist employees for large commercial units so it is now more important than ever to fine tune your CV and attain any new skills that may give you the competitive edge over the competition.

Other areas that are now growing again include the telecom and real estate sectors. Equity being issued increased by over 65% in these sectors over the last few months and it is predicted that they will continue to grow during the next three quarters.

The National Bank of Abu Dhabi, HSBC, Santander and Mitsubishi UFJ Financial Group were the top lenders in the first quarter with a total lending portfolio of almost $896 million.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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