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Abu Dhabi Approves USD4.3bn Development Spending

Middle East : 27 September

Source: Reuters

ABU DHABI, Sept 25 (Reuters) – Abu Dhabi’s government on Wednesday approved 15.8 billion dirhams ($4.3 billion) worth of spending on infrastructure and social welfare projects, an official statement said.

The wealthiest emirate in the United Arab Emirates is investing billions of dollars in industry, tourism and infrastructure to diversify its economy away from oil. Since the 2011 uprisings in the Arab world, it has also boosted spending on housing and social services for its citizens.

Among the latest spending allocations are 7.4 billion dirhams to develop roads linking the city of Abu Dhabi with Saudi Arabia and Dubai. A total of 4.3 billion dirhams will go towards building a hospital in the city of Al Ain.

Other allocations are to develop the emirate’s electricity grid and waste water treatment facilities, and 3.1 billion dirhams to provide housing loans to 1,554 local citizens.

27 September

UAE Remains Top Arab Market

Source: Emirates
Country also has second largest trade volume after Saudi
The UAE remained the top Arab consumer market with its imports of more than $273 billion in 2012 exceeding a quarter of the region’s total imports.
Official data also showed the UAE had the second largest trade volume after Saudi Arabia, with its total commercial activity sharply [...]

27 September

Saudi Arabia Investing USD77bn in Infrastructure Projects

Source: Arab News 2013
Saudi Arabia is undertaking infrastructural improvement projects valued at $77 billion that include roads, bridges and rail.
According to the most recent figures, the ongoing roads and bridges developments across the GCC are currently valued at $109 billion.
The UAE, second worldwide for roads quality in the latest Travel and Tourism Competitiveness Report, has [...]

20 September

UAE Employers Increasing Staffing Levels Due to Economic Growth

Source: Gulf News 2013.
Dubai: Employers are increased hiring for new job openings in 2013 compared to the previous year due to increasing confidence in the country’s economic performance, HSBC’s Middle East & North Africa Chief Economist Simon Williams said.
Williams said businesses had increased their recruitment levels because they are confident the increase in the pace [...]

20 September

Rising Population ‘to Spur Non-Oil Growth in Qatar’

Source: Gulf Times 2013
Qatar’s rising population will have a “large positive” impact on the country’s non-oil growth, QNB has said in a report.
At the same time, the new wave of expansion will have a moderate impact on inflation and produce significantly higher road congestion in the next few years as new expatriates drive up demand [...]

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