Monthly Archives: June 2017
by Muhammad Hassaan Bhagat, Senior Consultant in Forensics & Compliance Department of Grant Thornton UAE
14-15 November 2017
24-25 October 2017
2-3 October 2017
Interview with Scott Manson, Cyber Security Leader for Middle East and Turkey, Cisco
Steven Malone, director of security product management at Mimecast, commented:
As the Internet of Things (IoT) comes into focus, a majority of organizations across the world are trying to understand its role and relevance to their growth. IoT already connects more than 10 billion devices worldwide and over the next five years, this number is expected to grow to 100 billion. By 2025, IoT will generate economic benefits between USD 4 to 11 trillion globally. By all indications, IoT is a logistical and economic force that every organisation should address.
Healthpoint Wins ‘2017 UAE Emerging Orthopedics Service Provider of the Year Award’ at the 2017 Frost & Sullivan Middle East Best Practices Awards
Healthpoint was named ‘2017 UAE Emerging Orthopedics Service Provider of the Year’ at the 2017 Frost & Sullivan Middle East Best Practices Awards Banquet -held on 24th May at Atlantis, The Palm in Dubai
Dubai is set to spearhead the push towards efficient public transportation through innovative technologies. All public transport stakeholders including insurance companies, carmakers and drive through restaurants are sure to be affected.
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.
Following the recent launch of the UAE Passport Force initiative which is designated to aid the UAE passport to become a part of the top class important passports in the world, the 2017 Global Passport Power Rank reveals UAE to be the first important passport in the Arab region and 22nd in the world. Although the long-term goal is to fall within the five most powerful passports, this new achievement is contributing immensely to the region’s 2021 Vision.
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.
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.
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.