A new financial centre for Abu Dhabi is taking shape on Al Maryah Island. Due to formally launch in 2015, Abu Dhabi Global Market (ADGM) is designed to promote the emirate as a global financial centre, develop the economy and make Abu Dhabi an attractive environment for financial investments. Developing the financial services sector is one of the seven pillars of Abu...
The best way of using public funds to encourage entrepreneurship has long been a source of debate. Market purists argue that a government’s role is primarily that of an enabler, in that its core focus should be on creating an environment in which capital can flow from investors to new businesses. The classic example of this approach is Silicon Valley, where a confluence...
Having seen a five-fold increase since 2001, Abu Dhabi’s GDP reached an estimated $260bn in 2013 at current prices. The hydrocarbons industry comprised 55% of output, a two-point drop in comparison to the year before, highlighting the increasing diversity of the emirate’s economy.
Trade relations between the GCC and Asian economies have been growing steadily for some time now. Recent developments suggest, moreover, that they are set to expand further over the next decade. While there are some risks associated with Asian markets, the GCC as a bloc is deepening its commitment to the region. This is signalled by a number of potential trade agreements...
Following a difficult period for the international shipping market, in 2012 the container route from Shanghai to the Gulf through Dubai saw the second-highest rate of freight growth in the entire Asian region. This was part of an emerging trend of the maturation of GCCAsia trade. A relationship that was once just based on energy demand is diversifying and the GCC is seen...
In December 2014, Dubai International Airport (DIA) emerged as the busiest airport in the world for crossborder passengers, surpassing London’s Heathrow airport, according to The Guardian, with 70.5m international passengers, compared to 68.1m at Heathrow. This was despite a reduction in traffic due to runway renovations, making it likely that Dubai...
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