The UAE’s new bankruptcy law | A Move To Ease Business Fears

The UAE is in the process of implementing a new bankruptcy law. The new bankruptcy law is intended to create a more modern, debtor-friendly regime, with particular emphasis on the rescue of a distressed debtor’s existing business or the restructuring of the debtor’s liabilities, rather than formal liquidation or bankruptcy. The new law will be […]

Dubai Economic Growth Expected to Slow

Posted on Mar 15, 2012 in UAE Economy, UAE Investment and Finance

The United Arab Emirates’ economic growth is expected to slow to 2.3% this year, from an estimated 4.9% in 2011, due to limited potential for further increasing oil production amid an uncertain global economic environment, according to the International Monetary Fund. The IMF also noted that in the event of a worsening of world economic […]

Company Merger Regime In The UAE | Real Estate Mergers Expected To Increase in 2012

The real estate sector of the United Arab Emirates (UAE) expects to see a number of significant mergers and business consolidations this year. Why? The UAE real estate market is still struggling to recover after real estate prices slumped in 2008 and it is expected that mergers between real estate developers would be needed to […]

UAE Economy Sees Modest Growth in 2011

The UAE economy grew at a rate of 3.3% in 2011, according to Economy Minister Sultan bin Saeed al-Mansour. That’s less than the 3.9% analysts expected, but more than twice the rate of growth seen in 2010. Increased growth was due to higher oil prices and trade with Asia, but hampered by sluggish real estate […]

Dubai’s Stocks Retreat Most in a Year on Bets Rally Overdone

 Dubai’s benchmark stock index retreated the most in more than a year, led by Arabtec Holding Co., to become the world’s worst-performer amid speculation this year’s rally was overdone. La Repubblica

MENA Job Prospects Pick Up

There are signs that the MENA economy may be turning around. In the next three months 50% of UAE firms have indicated that they will be hiring new staff, according to a survey by Bayt.com and YouGov. That’s a slightly higher figure than for Q4 2011. 63% of the poll respondents said that they expect […]

UAE Domestic Spending Tops Region

Posted on Feb 8, 2012 in Emirates-Middle East, UAE Economy

Consumer spending in the UAE is tops in the region, leaving all others far behind. UAE consumers spent an average of $21,577 per person in 2010, according to a study by the Arab Monetary Fund. Qatar came in second with individual average spending of $14,650, although its GDP per capita was the highest in the […]

Entrepreneurs to Benefit from UAE Bankruptcy Reforms

A draft of a new UAE bankruptcy law has been delivered to the UAE’s Ministry of Justice. The law has been in the works for two years, and its genesis may have been the dire economic straits traversed by some of the Emirate’s largest financial institutions in the course of the world economic crisis of […]