Author Archives: Joshua Amponsem

Dubai Introduces Electric, Self-Driving Transport

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. read more

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UAE Passports May require no Visa to Travel soon

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. 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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Emirates Insolaire to Expand as Solar Market Grows in GCC

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. read more

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Saudi Arabia Launch New Program to Invest $50b in Renewable Energy

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. read more

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Tourist Court to be instituted in Abu Dhabi

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. read more

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UAE Stays on the Top of Islamic Finance Development for the 4th Time.

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. read more

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KNOWLEDGE SUMMIT 2016

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. read more

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RAKFIF to disclose the reason for the recent investment growth in RAK

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. read more

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Real Estate in RAK

Real Estate in RAK is one of the most attractive places for vacation as ranked as the most beautiful emirate in 2014. Real Estate plays a major role in the functioning of the Emirate as the most attractive place in UAE. read more

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New Development in Ras Al Khaimah Set to Strengthen Tourism and Hospitality Sector

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GCC region is classified to have its GDP contribution largely from fuel – somewhat true, some emirates within the United Arab Emirates are devising new means to strengthen their economy. Tourism and Hospitality is anticipated to be the new venture for GDP growth in emirates like Ras Al Khaimah. Following its super initiatives to attract global investors – Which cuts across the Emirates Free Trade Zone and the existing Ras Al Khaimah Investment and Development Office (RAKIDO) that sees to the wellbeing of all investments and development in the Emirate and the annual RAK Finance and Invest Forum; Ras Al Khaimah is continuously attracting visitors as the years pass by. By 2020, tourism could triple for the emirate considering the number of investments and projects underway to bridge current gaps existing between tourist demands and RAK’s capacity. read more

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KNOWLEDGE SUMMIT 2016: Knowledge, Present and Future.

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In 2015, the government of Dubai launched Knowledge Summit as a part of a quest to localize knowledge and also bring together influencers of knowledge from the global sphere. As the name of the event suggests, it is known as the biggest knowledge conference in the United Arab Emirates. Migrated from the known Knowledge Conference in 2014, the Knowledge Summit features a more strengthened, robust and broadened event. This year, the event will be held at the perfect location ever, the Grand Hyatt Hotel Dubai on the Sheikh Rashid Road, Oud metha Road, Dubai. read more

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Best Place for Infrastructural Investment – Ras Al Khaimah, UAE

Doing  business in a foreign land can be very stressful as investors usually has to spend more time to build trust with local authorities and other offices that they require to operate smoothly. In some parts of the world, doing business as a foreigner is accompanied with more receptive feedback from local authorities. read more

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