The Kingdom’s banking sector posted solid growth in 2011 and 2012 and is now one of the largest in the GCC, with total assets reaching $439.7bn by the third quarter of 2012. In addition, bank profitability has risen in recent years, reaching $8.23bn at the end of 2011, up from $6.94bn at the end of 2010 and $7.14bn at the end of 2009. The industry’s expansion over the past few years is largely...
The Middle East
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Saudi Arabia continues to post strong economic growth on the back of its thriving petroleum sector anchored by a steady political and financial base. One of the largest exporters of oil worldwide, the country has also had some of the highest economic growth rates. Real GDP growth was forecast at 6.8% for 2012, following 8.5% expansion in 2011 and 4.8% in 2010. However, a new wave of strong state...
With oil prices at sustained high levels and the government pushing ahead with a large-scale investment programme to upgrade infrastructure, address social issues and further diversification, Saudi Arabia’s economy is thriving.
While hydrocarbons continue to make up the lion’s share of the emirate’s GDP, oil revenues are supporting long-term efforts to diversify the economy. Oil and gas accounts for about 52% of real GDP, down on previous years, followed by construction, manufacturing and real estate. High-quality transport infrastructure, meanwhile, is boosting trade activity and free zones in Abu Dhabi.
This chapter provides an overview of Yas Island, which hosts several of the emirate’s major
touristic attractions and accommodation options. The chapter also provides a listing of Abu Dhabi’s other leading hotels and resorts, as well as useful telephone numbers and facts for visitors, including information about language, visas, currency and more.
Chapter | Legal Framework from The Report: Abu Dhabi 2013
This chapter outlines the general rules for establishing a business in the emirate, including the key corporate, labour and property laws relevant to companies doing business locally in Abu Dhabi. The chapter also includes an overview of the judicial structure, as well as information on arbitration and appeals.