The emirate’s reputation as a safe haven – a sentiment supported over the past 12 months by its stability during much regional and international turmoil – plus the ability of its government-related entities (GREs) to negotiate restructuring packages with their creditors, have recently created some very positive conditions for a revival of the...
Among Dubai’s insurers, one of the most widely anticipated developments set for the year ahead is the likely introduction of mandatory, employer-funded health coverage for all Dubai residents. This is expected to give a major boost to both premiums and competition as local insurers do battle for health care accounts. The move is expected to ease...
With global Islamic financial assets worth some $1.2trn at the end of 2011 and growth of 150% over the previous five years, according to the UK Islamic Finance Secretariat, Dubai has long been eager to take a bigger share of this rapidly expanding market.
While the equities story in Dubai has been one of gradual recovery since the global downturn, on the commodities side, the emirate has been going from strength to strength. Central in this has been the success of the Dubai Multi Commodities Centre (DMCC), the licensing authority for the Jumeirah Lakes Towers Free Zone. Since its establishment in...
After facing some tough challenges in recent years, Dubai’s banking sector now shows many signs of having turned the corner. Stronger regulation and more robust financials are providing a healthier environment for expansion, while significant progress has been made in tackling the legacy of the global financial crisis. A major part of the UAE’s...
With micro, small and medium-sized enterprises (MSMEs) accounting for such a large share of Dubai’s economy, financing these vital wheels of the emirate’s industrial machine has become an increasingly important part of both bank and government development plans. According to research by government agency Dubai SME, some 95% of the emirate’s...
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