Mercer’s annual Cost of Living Survey finds African, Asian, and European cities dominate the list of most expensive locations for working abroad

  • Luanda overtakes Hong Kong as the most expensive city for expatriates to live in according to Mercer’s 23rd annual Cost of Living Survey.
  • Victoria in the Seychelles ranks 14th most expensive city sharing the same ranking with Moscow.
  • Cape Town, Blantyre and Windhoek ranks amongst the 15 cheapest cities globally.

In a rapidly changing world, mobility has become a core component of multinational organizations’ global talent strategy. To support the growing number of international assignees working in an increased number of locations, organizations are focusing on evaluating assignments from a cultural perspective, preparing for regional and lateral moves, and modifying compensation approaches to stay competitive. As organizations grapple with these challenges, they are working hard to accommodate the needs of their workforce and to support employees’ careers. According to Mercer’s (www.Mercer.com) 2017 Global Talent Trends Study, fair and competitive pay as well as opportunities for promotion are top priorities for employees this year – not surprising given the current climate of uncertainty and change. read more

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Which country has the best environment for Tech Startups in MENA?

The MENA region is trending on tech startups and its success, but more importantly, UAE is taking lead with its smooth business start-up systems and an enabling environment to support innovation. The Emirate has the highest number of venture capitals in the MENA region –currently possessing 19 venture capitals. According to founder and co-founders of tech start-ups, there is, even more, ease operating in a free zone as compared onshore, as free zones are indeed free from complex bureaucratic and regulatory procedures. The free zones help simplify things by aiding in areas such as visa acquisitions, residence permits, documentation and bank accounts. Series of success story testimonies within the tech start-up area makes it an attractive sector and a booming one for UAE. read more

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Dubai Date Export Can Achieve More Returns Even After 2016’s $85.1m

Dubai has made an impressive progress in date export. The country’s total date trade in 2016 amounted to 221.7 million USD, with export representing the largest share (85.1 million USD), imports (72.1 million USD) and re-exports (64.5 million USD) in the trade value. The growth of the sector between 2011 and 2015 is recorded at 34.1 percent compound annual growth In 2015, the country was offering the best prices of dates being imported to Europe the lead market as some leading markets in Europe and North America had a tight price. The price of dates exported from Dubai in 2016 was 786 USD/ton, while the price for re-exports and imports were 405 USD/ton and 399 USD/ton, respectively. read more

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UAE Ranked Third Best Jurisdiction For Accounting And Tax Compliance

The UAE has been attracting international investors with ease due to the Emirate’s simplified business registration, accounting, and tax systems. Based on this ease of operating, the TMF Group’s inaugural Financial Complexity Index 2017 has revealed that the UAE is the third least complex jurisdiction in the world for accounting and tax compliance. The Financial Complexity Index which was ranked using key metrics such as the accounting, tax rules, and regulations in different jurisdictions, and risks associated with non-compliance in these areas, showed that all the five least complex jurisdictions in the Index have simplified reporting requirements and beneficial tax rates to encourage investment. read more

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Advancements in Autonomous Flying and VTOL Technologies Poised to Make Limited Commercial Applications of Flying Cars a Possibility by 2035

Partnerships between flying car, automotive, aerospace and technology companies will drive new growth opportunities, finds Frost & Sullivan’s Mobility team read more

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ICT HEALTH Wins ‘2017 UAE Healthcare IT Service Provider of the Year Award’ at the 2017 Frost & Sullivan Middle East Best Practices Awards

ICT Health LLC was named ‘2017 UAE Healthcare IT Service Provider of the Year‘ at the 2017 Frost & Sullivan Middle East Best Practices Awards Banquet held on the 24th of May at Atlantis, The Palm in Dubai. read more

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Abu Dhabi hosts The Maritime Standard Ship Finance and Trade Conference 2017

(from left to right) Clive Woodbridge, Editor, The Maritime Standard; Sanjay Mehta, Chairman, S One Capital; Jesper Kjaedegaard, Partner, Mercator International; Jacob Berman, Managing Director, Standard Chartered; Anders Kron Commercial Manager Middle East, Sohar Port and Freezone; Venugopal Venkatesh, CFO, Oman Shipping Company; Ali Shehab, Deputy CEO, Kuwait Oil Tanker Company; Abdulkareem Al Masabi, executive vice president – ports unit, Abu Dhabi Ports; Trevor Pereira, Managing Director, The Maritime Standard; Khamis Juma Buamim, Managing Director & Group CEO, Gulf Navigation Holding; H.E. Dr. Abdullah Salem Alkatheeri, Director General, Federal Transport Authority-Land & Maritime; H.E. Sheikh Talal Al Khaled Al Sabah, CEO, Kuwait Oil Tanker Company; Dr. Ali Obaid Al Yabhouni, Chairman, UAE Shipping Association; Capt. Abdul Wahab Al Diwani, Federal Transport Authority-Land & Maritime; Capt. Mohamed Juma Al Shamisi, CEO, Abu Dhabi Ports; Bora Bariman, Head of Energy & Marine, National Bank of Fujairah; Eng. Yasser Nasr Zaghloul, CEO, National Marine Dredging Company; Chris Peters, CFO, Emirates Ship Investment Company; Vasudev Amonker, Unit Head – Int’l Lending, Burgan Bank Group; Eng. Rashed Al Hebsi, CEO, Tasneef; Marcus Machin, Director, Tufton Oceanic (Middle East) Limited; Thomas Kriwat, CEO, Mercmarine Group of Companies; Ziad Touma, Partner, Fichte Legal Consultants

The third annual The Maritime Standard Ship Finance and Trade Conference will take place on November 8th 2017 at the Sheraton Abu Dhabi Hotel and Resort. The event is expected to attract more than 150 senior executives from different sections of the market, including shipping, ports, finance and banking and law. read more

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Growing Employment Opportunities and Rising Business Activities will Continue to Drive Remittance and Bill Payment Industry in UAE: Ken Research

  • Infrastructure developmental activities being undertaken by the government to increase job opportunities in the country.
  • Growing number of expatriates in UAE to augment growth in the international outbound remittance market.
  • Rising business activities in the field of construction, real estate, information technology and others are anticipated to stimulate growth in the market.
  • Increasing consumption of electricity, water, mobile phones and others are expected to stimulate growth in the bill payments market. Growing mobile wallet platform will lead to rise in penetration and user base with some initial customer acquisition cost.

The ever-growing remittance transaction volume in UAE is anticipated to escalate further in the coming years. read more

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Increasing Number of Indoor Theme Parks and all Inclusive Packages are Acting as Major Driver for the Middle East Theme Park Market: Ken Research

Ken Research announced its latest publication on Middle East Theme Park Market Outlook to 2021, suggested that International theme parks, improved technology and safety in the amusement parks are attracting large number of tourists, generating high revenue for the market read more

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WannaCry might be the tip of the iceberg

The attack on 200,000 plus computers across more than 120 countries around the world by the WannaCry ransomware certainly got the attention of governments, media, consumers and law enforcement. But the actual impact could have been so much worse. read more

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A.M. Best Briefing: VAT Implementation Poses Significant Challenges for GCC Insurers

Uncertainty persists as to when precisely Value Added Tax (VAT) will be introduced in the member states of the Gulf Cooperation Council (GCC), and the process surrounding a roll-out. However, given the fiscal pressures in the region, the introduction of taxation seems inevitable and could cause short-term cash-flow issues for insurers. read more

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How You Can Alter the Strength of Your Passport – And Why You Should

Micha Rose Emmett

Across the world, the social and political landscape appears to be becoming increasingly turbulent. When conducting business on an international scale, there are already several challenges to contend with; ranging from unpredictable markets and currency exchange rates, to time zones and managing teams across continents – but there is one aspect that you have the potential to take some control over – your passport. read more

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Patchi Holds Ground-breaking Ceremony for Region’s Largest Chocolate Manufacturing Facility at Dubai Industrial Park

122,000 sq feet facility to include production zones, stores, service areas and Patchi’s new state-of-the-art headquarters read more

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Advertising and Retail Sector are Leading Economic Activities in Dubai.

Advertising – including campaigns, promotions, trade fairs are booming in Dubai as this reflects in permits being issued to this sector of the Emirates economy. Over the first quarter of this year, the Dubai Economy has witnessed 1,604 advertising permits being issued by the business registration and licensing (BRL) sector. These permits are issued to help standardize the activities, products, and services rendered by the various types of economic activities in Dubai. The permits help businesses to communicate their activities and increases its demand. read more

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