Welcome to the Ministry of Finance Website
Last Login
  • عربي
  • Accessibility
  • Help
  • Contact Us
  • Sitemap
  • Communication Channels
  • Text to Speech

Monday 1 - 2 - 2016


 01/02/2016

Gulf News

Dubai: The UAE will invest in human capital in a bid to achieve sustainable growth, it was announced on the concluding day of a ministerial retreat held to brainstorm the challenges of a post-oil economy. In the coming weeks, a strategy focusing on human capital will be announced. The strategy, to be prepared by ministers, will aim at boosting efficiency and productivity and enhance competitiveness in order to achieve sustainable growth. “Investing in human capital is the global approach in the 21st century, and the only means to achieve sustainable development that drives our country towards greater progress and prosperity,” said His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

Read More

Gulf News

UAE banks are likely to consolidate existing business and become more prudent in lending in 2016 as deposits wither away amid a prolonged period of lower oil prices. The drop in deposits will prompt more conservative lending, which means profit growth will be harder to come by this year, according to analysts. “I think 2016 will be a slower year where banks will focus more on conserving and maintaining their overall balance sheet while trying to avoid credit losses,” says Timucin Engin, Director, Financial Services Ratings at Standard & Poor’s in Dubai. “For 2016-17, the major focus of banks will be more on maintaining costs and keeping their asset quality intact rather than growing the business.”

Read More

Zawya

Iran's ability to oversupply the market with oil and further stomp on the oil price, worries about another Fed rate increase, plus bankers' predictions that all sectors will see a softening in lending appetite in the UAE, has made the coming months somewhat uncertain. According to the 2015 Credit Sentiment Survey by the Central Bank of the UAE, results from the December quarter credit sentiment survey revealed a down-tick in credit appetite within the UAE overall. This follows several quarters of robust lending growth. The report showed that demand for credit across corporates and small businesses contracted across all emirates in December, with the net balance measure in aggregate dropping to -8.1 in the December quarter and stayed in negative territory for the first time.

Read More

Gulf News

The year 2015 can be marked by increased volatility across asset classes on the back of series of events that unfolded from possible “Grexit” from the EU to China’s sudden devaluation, and to end the year with Fed’s policy lift-off. The rapidly changing themes during the year also took investors by storm, as before they could absorb one, the next one was already looming in the background. The year also witnessed depletion of global forex reserves held by central banks, falling from a peak of around $12 trillion (Dh44 trillion) in the beginning of the year to $11.25 trillion, the largest drop in decades.

Read More

Gulf News

If you are looking for an introduction, there is none this time. Straight on to the facts by answering this question: How should the UAE’s economy look like in 2050? Fiscal policies The UAE should focus on reducing unneeded expenses and deviating from oil revenues by increasing revenues from other sources. The below explains how that could be achieved. Taxes – increasing revenues * Taxes and other fees are estimated to now account for 35.4 per cent of revenues (CIA Fact Book), with taxes being 0.4 per cent (World Bank). Taxes should make at least 30 per cent of the UAE’s revenues by 2050.

Read More

Gulf News

Ajman: Khalifa Fund for Enterprise Development (KFED) recently organised the thirteenth Tawasul Forum in Ajman as part of the Fund’s interest in spreading initiatives aimed at enhancing the business environment and the different regions within the UAE. Ahmad Al Hashemi, manager of Ajman branch said that the Khalifa Fund will “continue working towards creating the appropriate environment for the growth of SMEs all over the UAE”. He added that the Fund’s management is keen to communicate with Emirati entrepreneurs and listen to their views and learn about the challenges they face in order to cooperate with them and find optimal solutions for them.

Read More


Page last updated : 02/05/2016 10:08 PM