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Dubai Foreign Trade Grow by 16% at Dh679b in the First Half of 2013

Middle East : 22 November

Source: Gulf News 2013

Dubai foreign trade achieved 16 per cent growth at a value of Dh679 billion in the first half of 2013 compared to the same period last year, Sa’ad Al Awadi, CEO of Dubai Exports , an agency of the Department of Economic Development ( DED ), told media at the Exporters Forum 2013 yesterday.

He added that Dubai Exports achieved 22 per cent increase in the first half of 2013 while re-exports grew at 13 per cent in the same period.

The overall Dubai trade is predicted to maintain a steady growth rate between 13-15 per cent by the end of this year, Al Awadi said.

The strategy of Dubai Exports is based on facilitating businesses in the emirate looking for new opportunities in various markets, he added. “ Dubai Exports has a support system to provide local manufacturers and traders with business opportunities in fast-growing markets.”

In the last three years, the department has enhanced the international presence of UAE-based companies based by introducing them to new markets through dedicated trade mission. “ Dubai Exports has helped over 300 UAE-based exporters to be present in the export markets and is looking ahead to target continuously new potential markets.”

Sami Al Qamzi, Director-General of DED , said such meetings will serve to make local businesses and foreign importers aware of new capabilities that Dubai continues to add to its business environment, especially in terms of infrastructure development and sectors such as halal products.

“While Dubai has retained its strengths as a regional hub for trade, particularly for exports and re-export operations, ongoing local, regional and international developments present vast opportunities for Dubai to move to the next level of international growth. This in fact translates as greater opportunities for traders and exporters looking to expand to markets overseas,”

22 November

Sultanate’s Salaries to Rise 5.6% in 2014

Source: Muscat Daily 2013
Muscat – Salaries in the sultanate are expected to rise by 5.6 per cent in 2014 against a predicted inflation rate of 3.5 per cent as companies begin to focus more on pay, performance and promotion decisions, according to management consultants Hay Group.
Launching its annual compensation report on Tuesday, Hay Group said [...]

15 November

UAE Property Boom: 192 Skyscrapers to Rise Over 150-Metres by End-2015

Source: Emirates 24|7 2013
The UAE, currently ranked among the fastest growing real estate markets in the world, will have 192 skyscrapers, rising over 150 metres in height by end of 2015, says a new report.
Dubai’s skyline will be home to 149 of those hi-rises, while Abu Dhabi will have 32 skycrapers, the Council on Tall [...]

15 November

Private Consumption, Infrastructure Boom ‘to Drive Qatar Economy’

Source: Gulf Times 2013
Qatar’s economy will continue to show “strong, although slowing momentum”, reflecting the country’s “robust private consumption and the significant infrastructure development programme”, S&P has said.
Economic risks for the Qatari banking sector remain average in a global comparison. Qatar has made some progress toward diversifying its economy although it still depends heavily on [...]

15 November

UAE No.2 Arab FDI Recipient

Source: Emirates
The UAE has emerged as the second largest Arab recipient of foreign direct capital (FDI) after Saudi Arabia, attracting more than $nine billion in 2012.
Official Arab data showed FDI flow into the UAE surged by around 25 per cent while FDI in Saudi Arabia and other Arab League members declined last year.
From around $7.6 [...]

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