ETIQUETTE & DRESS: Hospitality plays a central role in Emirati culture and is also present in business interactions. Whether in business or social interactions, longer greetings are an important prelude before proceeding to other matters. Handshakes are common as a greeting in business settings...
After a robust performance in 2015, the sector has entered 2016 ready to weather the economic challenges presented by a subdued oil price and is well positioned to pursue growth where opportunities arise in the coming years. With total assets estimated at $127bn in 2014, the UAE has one of the largest sharia-compliant banking sectors in the world – the third largest after Saudi Arabia and...
The Abu Dhabi Securities Exchange (ADX) has quickly developed from a fledging investment platform to an institution of global significance. At the end of 2015 a total of 66 public companies were listed on the exchange, with insurance, banking and industry making up the largest subsectors in terms of listings. The government has made moves to expand its debt and bond offerings in recent times,...
With assets of Dh2.47trn ($672.3bn) as of December 2015, the UAE banking system is the largest in the region. These assets are deployed within the federation as well as across the GCC, the traditional destinations of Europe and the US, and the world’s emerging markets. While local lenders remained profitable in 2015, the effects of a sustained drop in oil prices were seen in both balance...
Recent decades have seen the GCC become increasingly connected to the wider global economy through trade and investment links. Over the years capital flows between the Gulf and the rest of the world have deepened significantly, with both the historically important blocs of Europe and North America, and emerging market economies such as India, China and Brazil. The total stock of FDI in Abu...
The emirate of Abu Dhabi has put its significant hydrocarbons resources to strategic use in recent years, using the wealth derived from oil to underpin the UAE’s diversified economic growth targets. Meanwhile, the emirate’s Economic Vision 2030 has identified sectors through which Abu Dhabi can boost non-oil GDP, with areas such as tourism, manufacturing, ICT and health care now driving the...
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