Where do you anticipate greater bilateral cooperation between South Korea and the UAE?
The last decades of rapid economic growth in Dubai are a well-known phenomenon. Equally well known are the economic shocks the emirate witnessed in wake of the global financial crisis. The mood in Dubai, however, is swinging back towards a more guarded optimism as it regains its status among regional and international economies. Dubai is still...
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...
The global financial crisis hit Dubai hard. Local government-backed investment companies were overextended and had taken on a high level of risk during the years of readily available capital from international banks, many of which had assumed the government would guarantee every deal. Exact figures vary, but estimates suggest that Dubai firms...
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