Upcoming EventsAug16Wedall-day The 2nd Asia (Guangzhou) Battery... @ China Import & Export Fair ComplexThe 2nd Asia (Guangzhou) Battery... @ China Import & Export Fair ComplexAug 16 – Aug 18 all-dayGBF Asia engages in the battery and associated applications in the field of power and energy storage. It also focus on displaying the whole production chain of battery materials, and equipment. With a determined aim, the trading and technical exchange … Continue reading →Sep17Sunall-day 4th Middle East Cyber Security C...4th Middle East Cyber Security C...Sep 17 – Sep 20 all-dayMiddle East nations are witnessing significant economic and technological transformation due to growing business opportunities in large industries such as banking, financial services, insurance (BFSI) in the region. With the rapid economic growth and the increasing threat of cyber crimes, … Continue reading →Sep26Tueall-day Electric Vehicles UAE ConferenceElectric Vehicles UAE ConferenceSep 26 – Sep 27 all-dayTo support EV integration in the UAE His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Executive Council, launched the Dubai Green Mobility Initiative as part of the Dubai Clean Energy … Continue reading →all-day Intersolar Middle East @ Conrad Dubai HotelIntersolar Middle East @ Conrad Dubai HotelSep 26 – Sep 27 all-dayThe most Powerful Solar Conference in the MENA Region taking place September 26-27, 2017 at the Conrad Dubai Hotel in the United Arab Emirates read moreSep27Wedall-day Smart Parking UAESmart Parking UAESep 27 – Sep 28 all-dayThe 3rd Annual Smart Parking UAE 2017 conference will bring a fresh approach to government authorities who will share their experiences at every stage of implementation. The event will reach into healthcare facilities, high access areas and real estate development … Continue reading →all-day Smart Parking UAE ConferenceSmart Parking UAE ConferenceSep 27 – Sep 28 all-dayThe 3rd Annual Smart Parking UAE 2017 conference will bring a fresh approach to government authorities who will share their experiences at every stage of implementation. The event will reach into healthcare facilities, high access areas and real estate developments … Continue reading →
Author Archives: Joshua Amponsem
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.
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.
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.
Dubai Investments, the world-class company investing in profitable entities and the largest investment company listed on Dubai Financial Market is aiming at a substantial growth in the ever increasing solar energy trends across the UAE through Emirates Insolaire LLC. Since late 2014, renewable energy has continuous growth in investments and advancement in the solar technology.
Gulf Council Countries renewable energy targets have been reported to have the potential of creating an average of 140,000 direct jobs per year. The report which was published last year by International Renewable Energy Agency (IRENA) on renewable energy market analysis in the Gulf Council Countries (GCC) region sees an appreciable growth of renewable energy in the region and also declares Saudi Arabia as the world’s seventh largest oil consumer and the world’s largest oil exporter, thus making it an oil dependent economy. However, the country has declared plan to diversify its economy by depending on more green technology and sustainable sources.
In previous reports, I had reiterated the growing tourism sector in the United Arab Emirates. This has accordingly expanded other sectors including real estate, hospitality, and recreational centers, and additional infrastructural developments which keeps attracting tourists. This is also increasing the number of expatriates in the region.
Last week, during the 2016 World Islamic Banking conference (WIBC), the fourth edition of the Islamic Finance Development Report was released. According to the report, global Islamic finance development (as measured by the IFDI global average value) declined to 8.8 in 2016 from 9.9 in 2015, reflecting the poor performance of many nations due to aspects that are based on actual market practice, such as financial performance and corporate social responsibility. The decrease in performance had been attributed to the global fall in the prices of oil which significantly affected the finances of oil dependent countries and countries with an Islamic finance presence, like the GCC. Although this resulted in a decline in profitability measures, the fall in oil prices had not so much impact on the growth on the GCC Islamic finance assets – aside Kuwait which experienced a 3 per cent decline in assets.
The Knowledge Summit 2016 commenced yesterday, 5th December with a remarkable opening from H.E. Jamal bin Huwaireb (Managing Director of MBRF) who inaugurated the Summit with an opening address, in addition to announcing the results of the Arab Reading Index. The event has brought together Ministers of education from around the Arab World to discuss the role of reading in building a national identity.
In less than 3 weeks Ras Al Khaimah’s Finance and Investment Forum will be held at the Rixos Bab Al Bahr, UAE under the patronage of the ruler of the Emirate and key stakeholders of the Emiarte – including Senior Executives from RAK Chamber of Commerce & Industry, RAK Ceramic, RAKIA, RAKTDA, Department for Civil Aviation, RAK Ports, Al Marjan, Al Hamra Group, RAK BANK, RAK Public Works, etc. This year, the event features officials of the Emirate to enlighten participants across the globe on the investment. From December 13-14, the two day event will explore many sessions and dialogue which will expose participants to a wider range of investment knowledge an prospects.