ArabianBusiness.com - Middle East Business News
Sunday, 22 November 2009 04:01 UAE time

YOUR DIRECTORY /

Ministry of Economy - UAE

Main Category: Other Government Ministry / Public Utility
City : Abu Dhabi
Country : United Arab Emirates


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ALL STORIES LIST


Major UAE illegal book traders shut down after raids

Traders in Dubai, Abu Dhabi and Sharjah fined and shops closed in anti-piracy clampdown.

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Officials set to finalise new UAE Companies Law

Expats expected to get 100% control of firms in some sectors under new rules.

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Dubai ruler says worst of crisis is over

UPDATE 2: Sheikh Mohammed also lauds relations between Dubai and Abu Dhabi.

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Dubai cost of living rises 4.5% in 2009

Big rises in cost of education and clothing lead increase while housing cost falls - official figures.

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Minister urges more post crisis transparency

UAE's economic chief also urges Islamic nations to increase innovation - speech.

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Investment in Abu Dhabi to reach $1tn

UPDATE 1: Economy chief upbeat on recovery, lowers inflation forecast for 2010 to 2.5-3%.

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UAE set to launch campaign against fake goods

Ministry of Economy initiative aims to protect intellectual property right.

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UAE, UK eye 60% increase in joint trade by 2015

Countries agree to develop closer economic ties after top level talks in London.

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Six jailed for illegal DVD sales in Dubai

UAE officials say prison sentence - a first for the Middle East - should serve as warning to violators.

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UAE ranked top trading partner with India - Minister

Trade worth $44.5bn in 2008-09 puts UAE ahead of US and China - top official.

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UAE food prices seen falling 30% with more competition

Retailers claim measures to increase competition in wholesale market have failed.

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UAE census in April 2010 to cost AED65m

Officials say 10,000 experts and analysts to work on the country's sixth population and building census.

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Three UAE consumer arbitration courts by year end

Consumer courts will protect consumers from commercial exploitation or fraud - official.

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Fitch affirms Abu Dhabi rating at 'AA'

Agency notes state-owned firms may eventually need gov’t help to service debt, however.

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UAE says food prices cut by up to 40% in Ramadan

Minister of Economy praises efforts to slash cost of essential food prices.

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Minister predicts UAE annual inflation to hit 3.5%

UPDATE 1: Sultan bin Saeed al-Mansouri says no risk of deflation this year.

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UAE foreign trade chief predicts 3% growth in 2009

Sheikha Lubna says UAE set to achieve 'significant economic gains' despite crisis.

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Airlines could benefit from UAE-Canada talks

Emirates, Etihad eye expansion as UAE economic chief talks to Canadian officials.

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UAE economy chief predicts growth in Q4

Minister Sultan Al Mansouri says the worst of the global economic crisis for UAE is now over.

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Dubai fruit and veg sellers fined for overcharging

Number of sellers fined AED1,000 for charging more than the official Ramadan price list.

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UAE personal wealth hit record high in 2008 - Ministry

Official figures show 16% rise compared to 2007 level but decline expected in 2009.

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UAE clampdown to prevent Ramadan price hikes

Inspectors will increase spot checks on food shops to protect consumers.

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53% unimpressed by UAE company set-up cost move

Poll reveals majority believe scrapping of AED150,000 minimum is 'too little, too late'.

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Deflation expected in UAE this year, says Deutsche Bank

Bank says further falls in real estate prices are set to keep the lid on costs generally.

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UAE scraps AED150,000 min to start company

President Sheikh Khalifa issues decree to reduce the cost of setting up new business.

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UAE population to top 5m for first time - Ministry

New official report says country will see 6.3% increase, despite impact of job losses.

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UAE's GDP grew to AED294bn in 2008

The country's non-oil sector grew by 3.9% in 2008, boosted by public and private investment, official figures.

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UAE cuts Ramadan food prices

Move follows deals agreed last week with food retailers allowing for discounts of up to 60%.

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UAE jobless rate sees small rise in 2008 - report

Unemployment rate still one of the world's lowest at about 4% - Ministry figures.

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Spot checks for retailers during Ramadan

Officials to monitor store prices to prevent overcharging during holy month.

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UAE economic policy to eye industry - minister

UAE government too encourage local, foreign industrial investment - Sultan Al Mansouri.

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UAE to launch special loans scheme for SMEs

UAE gov't to start loan scheme for small, mid-sized enterprises struggling for finance.

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UAE inflation slows to 1.9% led by housing slowdown

First monthly figures show inflation fell to 1.9%, April, after 12.3% high, 2008.

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UAE sees 2.7% fall in consumer prices in Q1

Figure revealed in first ever monthly inflation data, drop sparked by lower housing costs.

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UAE economy on path to recovery - Ministry official

UPDATE 1: Economic chief upbeat on future, says growth indicators will be seen in Q3/4.

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Abu Dhabi signals support for 100% foreign ownership

Move expected to boost foreign investment amid the global financial crisis.

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UAE economy shows early signs of recovery - minister

Foreign trade minister says country has overcome the initial impact of global crisis.

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UAE gov't sees 'innovation' as key to future economy

Economy minister says creativity-based economy central to post-crisis plan.

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UAE to support small, mid sized firms

UAE's economy ministry aims to encourage young Emiratis to work in SMEs; will focus on their training.

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UAE to come down hard on Indian Dish TV dealers

Ministry of Economy orders crackdown on trade of illegal satellite receivers.

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UAE minister predicts economic growth in H2, 2009

Minister of economy predicts 'some' growth in 2009, following IMF's 3.3% growth forecast.

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Sheikh Mohammed invites citizens and media to quiz him

Ruler of Dubai asks media and residents to post questions on his website from Saturday.

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Court plan debated to protect UAE consumers

Minsitry proposes court of arbitration to shield shoppers from rising prices.

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UAE launches new blitz on illegal software

Ministry warns businesses they could face closure if caught with illegal products.

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UAE economy grew by 7.4% in 2008

Minister of Economy also says that the impact of global crisis has been 'relative and minimal'.

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UAE's economy chief says 2009 contraction possible

Minister admits he cannot rule out negative growth, says UAE to cope better than peers.

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Shoppers to enjoy 30% discounts under UAE gov't scheme

The consumer protection initiative will cover food staples such as chicken and rice.

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Four computer resellers caught in Abu Dhabi raids

Authorities confiscate 300 illegal CDs together with computers found operating unlicensed software

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Food prices to halve as part of UAE gov't plan

By April food being sold across the country should be 50% cheaper - official.

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$21bn invested in UAE industrial sector in 2008

Economic minister says employment in sector has grown 40% in past four years.

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Buying versus leasing in the UAE

With scandals involving regional real estate tycoons, the recent chaos in the US housing market and the global financial crisis, people are wondering how the Middle East is going to be affected; more specifically how the real estate and property market will be influenced and whether it can retain the confidence of potential investors.

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January food prices set to drop by 25%

UAE's Ministry of Economy in deal with retailers to lower price on new stocks due in New Year.

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Industry will lead UAE's economy growth - Al Mansouri

Economy chief says industrial sector set to be main contributor to national GDP.

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Two distributors arrested in UAE raids

MoE confiscates 4,000 Pay TV decoders from warehouses in Dubai

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Gov't: No cash injection for UAE stock markets

Minister for economy says there are no plans to act to boost ailing shares.

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UAE urges retailers to cut prices

Economy ministry in talks with outlets over why drop in commodity and raw material prices not passed on.

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UAE investors buy farmland in Pakistan

Public-private sector consortium spends $40mn on land, will invest $20mn more, says official.

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Hi-tech cement probe to be launched in UAE

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Insurance sector 'needs to embrace more Emiratis'

Economy Minister says industry is falling behind on Emiratisation programme.

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Striking back

In this regional exclusive, UAE Government officials reveal how they won a major battle in the war against piracy, blocking access to rogue websites offering local users access to copyrighted broadcast content.

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UAE expat numbers predicted to grow 7% in 2009

Official figures reveal ratio between nationals and expats is expected to widen next year.

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UAE says GDP growth slows to 5.2% in 2007

Economy now $198.7bn or about 20% smaller than Ireland's, says economy ministry.

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Websites disrupted in TV piracy crackdown

UAE Ministry acts to shut down local connections to 10 Korean-based sites.

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UAE blocks illegal TV websites

Decision comes after fans accessed sites to watch the Euro 2008 championships for free

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Comply with new rules or face legal action, auditors told

Deadline set to comply with regulations aimed at boosting governance, transparency.

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Ramadan rip-offs probed by Ministry

UAE gives green light for inspection campaign and warns of closures for retailers that hike up prices.

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The mighty crackdown

Industy proposals from the UAE's Ministry of Economy represent a welcome push in the right direction.

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Respect Ramadan

Government warnings issued to rip-off retailers and tradition-inspired product developments should be applauded by the industry.

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Retailers face Ramadan price crackdown

Stores that exploit consumers during holy month will be severely punished, gov't warns.

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Five arrested in UAE software piracy blitz

Computer shops targeted in joint venutre to crack down on illegal software on sale in emirates.

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UAE eyes farmland in Africa, Asia

Ministry of Economy reveals investment targets in Sudan, Egypt, India and Pakistan to boost food supplies.

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Warning to shops over rogue discounts

Fines, threat of closure given to malls, supermarkets who fail to deliver on sales promises.

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Sharjah police seize illegal rice stash

Building inspectors uncover speculator's 2.5 tonne hoard of Indian basmati rice in villa, official says.

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Buried treasure

As media and broadcast industries struggle under alarming piracy rates, initiatives are yielding results.

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UAE seeks food deal in Kazahkstan

President announces investment plan in agricultural projects as part of drive to secure food supplies.

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UAE fixes new cement prices, approves dealers

Cement producers also agree to hike production amid shortages and rising prices.

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60% consider move due to rising costs

Arabian Business poll reveals widespread concern as cost of living continues to rocket in UAE.

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VAT plan 'would conflict with existing laws'

Economic chief raises concerns over proposals to introduce new tax on UAE imports.

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UAE slashes '07 economic growth estimate

Economy grew at 5.2%, down from 7.6%, growth slowest since 2002, figures show.

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Rice black market hits UAE

Black market emerges after gov't efforts to limit inflation push rice supplies off store shelves.

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UAE food inflation to 'ease'

Food, commodity inflation to slow this year after price controls introduced - Ministry of Economy.

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UAE, Milan look to boost bilateral ties

UAE economy ministry and Milan business chamber to cooperate on Islamic banking, financial services.

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UAE to invest $50bn in Algeria

Investment strategy to see UAE invest in industry, services, agriculture, energy sectors.

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Retailers warned over Ramadan price hikes

UAE Ministry of Economy tells shops not to exploit consumers during holy month.

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UAE inflation 11.1% last year - official

UPDATE 2: Inflation driven by rental and housing costs, which jumped 17.5%, ministry says.

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No intention of dropping dollar peg - UAE cbank

Al-Suweidi says decision based on safeguarding national interests, no foreign pressure.

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UAE to keep dollar link - Sheikh Mohammed

UAE prime minister says country will keep dollar peg so long as serves its interests.

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UAE looks to boost Spanish economic ties

Spanish king holds talks with Sheikh Khalifa during state visit to Gulf state.

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UAE to develop aluminium sector

UAE's Minister of Economy meets with Russian delegation, Dubal to boost aluminium industry.

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National survey to profile workforce

Ministry of Economy will question families across UAE to build reliable picture of employment in country.

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New cement price cap at US $92.5 per tonne

A tonne of cement in the UAE has been fixed at a cost of US $92.5 (AED340) by the Ministry of Economy.

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Foreign factors drive 40% of UAE inflation

External factors such as higher prices highlighted as major driver of rising costs by economy minister.

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Cement producers cut prices 6%

Firms agree with Ministry of Economy to reduce prices to help tackle record inflation in UAE.

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Dollar peg, record oil prices adding to inflation misery

Inflation expected product of economic boom, but effects being magnified - UAE.

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Cement cap set to rise

The price cap on cement is expected to be officially raised this week to around US $81.7 (AED300) per tonne, according to a source at the Ministry of Economy in Abu Dhabi.

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The UAE cracks down on price increases

The Ministry of Economy describes agreement to keep prices down at Carrefour as the latest effort in a "series of initiatives" with the industry.

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Cost catastrophe

Disputes over food price hikes have sent shockwaves through the industry and triggered prompt action coupled with scepticism.

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UAE looks to allow 100% foreign ownership

Gulf state may relax foreign ownership laws to lure international investment.

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Rice prices set to skyrocket

Major global exporters Vietnam and India plan to slash exports to combat domestic inflation.

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UAE urges supermarkets to import directly

Ministry of Economy encourages retailers to cut out middlemen to lower pricess.

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UAE crash victims face insurance denial

Insurers may try to refuse payouts from 200-car pile-up due to get out clause in policies.

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UAE in construction boom

The UAE economy grew 7.4% last year on the expansion of the manufacturing and construction sectors, as well as oil and gas, the Ministry of Economy said in a report last week.

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UAE targets 5% inflation in '08

Reducing inflation 'a big challenge', says minister, in face of predictions of 12% inflation this year.

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UAE to allow foreign ownership in six months

New company law will allow majority foreign ownership in certain sectors, minister says.

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UAE agrees food discounts with Co-ops

Union Cooperative Society chain to sell 16 basic foods at cut prices to nationals - ministry.

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CABSAT draws a crowd with key launches and initiatives

UAE Minister of Economy His Excellency Sultan bin Saeed Al Mansouri officially opened the 14th edition of CABSAT yesterday, marking the beginning of what is set to be the biggest and best installment yet of the region's top annual electronic media and satellite communications event.

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UAE economy surges 7.4% in '07

Expansion of manufacturing and construction sectors, as well as oil and gas, spur growth, ministry says.

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Retailers slam UAE food price cap

Maximum retail price for essential goods will badly affect quality and market supply, businesses say.

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UAE to publish inflation data monthly

Emirates plans to update consumer price index following review, source reveals.

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Warning sounds

The copyright law for background music in the United Arab Emirates is about to get very serious.

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UAE economy in 'good shape', may grow 6.6%

Central bank governor says strong demand for oil and gas will support growth this year.

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Region at risk as supply chains tighten

Global contraction of raw materials and workers' rights threatens to derail construction boom.

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UAE food prices head skywards

Basic food prices jump 36% with exporter demands to push rice up by more than 70%, newspaper says.

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Soaring growth not sustainable, warns minister

Gulf markets urged to monitor global issues which could negatively affect growth.

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UAE gov't slams 'incorrect' economic freedom report

Ministry rejects Economic Freedom report as 'inaccurate', and 'inconsistent'.

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AAA honours UAE Ministry of Economy for IPR efforts

Arabian Anti-Piracy Alliance presents plaque to Ministry of Economy in recognition of copyright protection efforts

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Bush and dogged downfall impact construction industry

The construction industry in the UAE took a beating last week due to heavy rain and US president George Bush's visit to the country.

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Out with the old, and in with the new

Michael Grose, Partner, Clyde & Co looks at the hottest topics that will be at the forefront of the legal profession in the region this year.

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UAE Ministry of Economy promotes IPR

HE Sheikha Lubna Al Qasimi addresses first Arab Intellectual Property Forum in Abu Dhabi

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Foreign investment in UAE tops $18bn

Sheikha Lubna unveils study showing FDI rose 10.8% in 2006 with Dubai the biggest recipient.

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UAE economy to surge 16%

Rocketing oil prices and a flurry of new mega-investments driving growth in the Emirates, IMF says.

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Private sector failing to attract Arab women

AIWF Forum: Sector needs to 'work ten times harder', says Sheikha Lubna.

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'No price hikes', traders warned

UAE Ministry of Economy threatens maximum penalties for suppliers who exploit increase in gov't wages.

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Nielsen to go full circle in Jeddah

The global information and media company reveals plans for its inaugural Consumer 360º conference in Saudi Arabia.

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UAE, US review trade talks progress

The two countries talk trade, economic relations and joint investment ventures during US treasury visit.

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Government and business need to work together on ICT economies says HE Sheikha Lubna Al Qasimi

Sheikha Lubna Al Qasimi, UAE Minister of Economy says more co-operation is needed to promote IT innovation

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Toxic toothpaste banned in UAE

Gov't orders eight brands of Chinese toothpaste off store shelves for containing a toxic chemical.

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UAE gets tough on Ramadan price hikes

Newspaper ads hammer home message that businesses exploiting consumers will be closed down.

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Rail plan still on track

The feasibility study for a 350km national railway network within the UAE has been completed and is now waiting approval from the government, according to a source from the Ministry of Planning and Economy in Abu Dhabi.

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Shops shut down for profiteering during Ramadan

UAE closes shops for exploiting consumers in holy month by hiking prices.

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The need to cap pay rises

The Middle East needs to take the painful step of setting a cap for public sector-owned industries to rein in inflation.

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Cap on cement being ignored

Cement prices are continuing to escalate despite the introduction of an official price cap a few months ago.

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Lubna: Boost Vietnam ties

UAE minister of economy says Emirates needs to increase bilateral ties through mutual investment.

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UAE insurance sector investment drops

Investment in the UAE insurance sector dropped by 5.6% last year to $4.7bn, official figures show.

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Still fancy a bite?

Is the region's multi-billion dollar food industry a playground for biotech companies or is this just the future?

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UAE reveals competitiveness plan

Ministry of Economy announces details of its strategy to enhance capability across the country's economic sectors.

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Abu Dhabi GDP to hit $159bn in 2010

UAE capital set to see $159bn GDP in 2010 as it maintains steady growth rate of 13%, report says.

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GM recalls Aveo cars in UAE

Around 1,500 Chevrolet Aveos with fuel-line faults that could cause fire in head-on collision have been recalled.

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Rupee incomes collapse in GCC

Weak dollar, strong rupee and soaring inflation mean Indian workers in Gulf are 30% worse off than last year.

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UAE, US trade talks continue

UAE ministers have held talks with Washington officials in a bid to move closer towards a FTA.

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UAE, US continue trade talks

The two countries are still keen to boost trade ties, despite failure to conclude a free trade agreement before TPA expiry.

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In Pole position

Poland offers the world a gateway to Eastern Europe. For the Middle East, this marks the rekindling of a decades-old relationship.

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Rice price hike gets green light

Suppliers get nod for 20% rise but threaten to pull supply if further increase not given.

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Exhibition to boost US$200m Poland-UAE trade

Dubai is to host a significant Poland-UAE trade exhibition with the aim of strengthening trade ties between Poland and the Middle East.

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Cap may breed illegal trade

Cement traders have warned that the UAE government's attempt to stabilise rising cement prices by setting a price cap, could lead to the growth of a black market in the regional construction industry.

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UAE inflation rate rises to 9.3%

Living costs are hit by soaring rental rates, according to government statistics.

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Exhibition to boost $200m Poland-UAE trade

The Polish Business Days Exhibition will be held in Dubai later this year.

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UAE fixes cement prices

Cap comes as rising cement costs threaten to slow the country's construction boom.

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UAE to lift foreign ownership curbs

The country is to allow 100% foreign ownership of some companies, minister says.

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UAE sets up insurance watchdog

Regulatory authority will launch in August to govern UAE insurance companies.

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UAE launches investment guide

The 165-page book is aimed at attracting more foreign investment into the country.

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Dubai ups the fight against fraud

Business fraud and fake goods are the target of a workshop organised by the customs authority.

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Deyaar sets up for IPO

UAE real estate company, Deyaar, has announced that it has secured the approval of the UAE's Ministry of Economy to launch its Initial Public Offering (IPO).

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UAE to crack down on price rises

Drive to lower inflation will see retailers and suppliers penalised for overcharging.

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MoE clamps down on piracy

The Ministry of Economy is applauded for its bid to curb mounting illegal software distribution in the UAE.

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9/11 a turning point in GCC, says Minister

UAE Minister of Economy, HE Sheikha Lubna, describes how attitudes shifted towards investing nearer home after attacks.

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Low cost, high skies

Cheap no-frills air travel is taking off in the GCC, says Gemma Greenwood.

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Quest to find Mr and Mrs Average

A UAE-wide survey will gather financial data and aim to identify the country's typical household.

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UAE Minister calls for open skies policy

UAE's Sheikha Lubna Al Qasimi says that protectionism is damaging regional airline growth.

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UAE ruling set to shake up electronics channel

Uncertainty reigns in UAE channel sector following historic government ruling

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READER COMMENTS

  1. UAE announces Eid and National Day holidays 02
    21 Nov ' 09 at 10:22
    Is it any wonder that Emiratis are reluctant to work in the private sector? One day extra and no request for early payment of salaries.   More  »
  2. RTA to lease out last batch of retail outlets available on Red Line 01
    21 Nov ' 09 at 14:10
    What happened of Last Minute and their 28 outlets - one on each station?   More  »
  3. Dubai plans start-up help for expat entrepreneurs 01
    21 Nov ' 09 at 11:37
    this is great news really makes sense, especially since Small & Medium Enterprises actually make UAE. I sincerely hope that this is...   More  »

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