While fossil fuels remain the mainstay of Abu Dhabi’s economy, in recent years the emirate’s authorities have nonetheless expended considerable efforts to place it at the forefront of global initiatives to advance renewable energy. The culmination of these efforts occurred in June 2015, when Abu Dhabi’s Masdar City played host to the opening...
As greenhouse gas emissions continue to rise and the threat of global warming looms ever larger, the world faces a conundrum: how to reduce the amount of harmful CO being released into the atmosphere in a global economy that continues to rely on fossil fuels for the majority of its energy requirements.
July 2015 marked a watershed moment in the Arab Gulf’s decades-long history of cheap oil, as the UAE became the region’s first country to remove subsidies for transport fuel. Abu Dhabi-based daily The National reported on July 28, 2015 that prices for 95-octane unleaded petrol rose overnight from Dh1.72 ($0.47) per litre to Dh2.14 ($0....
Now entering its 10th year of mandatory health insurance legislation, Abu Dhabi’s insurance sector is at something of a crossroads. Although penetration is rising and the industry’s gross written premiums (GWPs) have recorded double-digit growth in recent years, loss ratios have deteriorated over the same period, the industry recorded some of...
In a bid to strengthen the insurance sector and promote industry consolidation, the UAE Insurance Authority (IA) recently introduced new financial regulations for underwriters, aimed at improving solvency, technical provisions and accounting practices, and setting new investment and minimum capital requirements. These reforms will bring the...
To what extent are the principles of Islamic banking universal, and how can these play a role in penetrating the conventional market?
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