Uncertainty reigns in UAE channel sector following historic government ruling
ArabianBusiness.com staff writer , Tuesday, 31 October 2006, ArabianBusiness/News
UAE's Sheikha Lubna Al Qasimi says that protectionism is damaging regional airline growth.
Rob Corder, Monday, 05 February 2007, ArabianBusiness/News
A UAE-wide survey will gather financial data and aim to identify the country's typical household.
Rob Corder, Monday, 12 February 2007, ArabianBusiness/News
Cheap no-frills air travel is taking off in the GCC, says Gemma Greenwood.
UAE Minister of Economy, HE Sheikha Lubna, describes how attitudes shifted towards investing nearer home after attacks.
Rob Corder, Friday, 23 February 2007, ArabianBusiness/News
The Ministry of Economy is applauded for its bid to curb mounting illegal software distribution in the UAE.
Diana Milne, Sunday, 22 April 2007, ArabianBusiness/News
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).
ArabianBusiness.com staff writer , Saturday, 28 April 2007, ArabianBusiness/News
Business fraud and fake goods are the target of a workshop organised by the customs authority.
Safura Rahimi, Thursday, 10 May 2007, ArabianBusiness/News
The 165-page book is aimed at attracting more foreign investment into the country.
Regulatory authority will launch in August to govern UAE insurance companies.
Reuters, Tuesday, 12 June 2007, ArabianBusiness/News
The country is to allow 100% foreign ownership of some companies, minister says.
Cap comes as rising cement costs threaten to slow the country's construction boom.
Reuters, Sunday, 17 June 2007, ArabianBusiness/News
The Polish Business Days Exhibition will be held in Dubai later this year.
Andrew White in Warsaw, Monday, 18 June 2007, ArabianBusiness/News
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.
Living costs are hit by soaring rental rates, according to government statistics.
Dubai is to host a significant Poland-UAE trade exhibition with the aim of strengthening trade ties between Poland and the Middle East.
Suppliers get nod for 20% rise but threaten to pull supply if further increase not given.
Poland offers the world a gateway to Eastern Europe. For the Middle East, this marks the rekindling of a decades-old relationship.
The two countries are still keen to boost trade ties, despite failure to conclude a free trade agreement before TPA expiry.
UAE ministers have held talks with Washington officials in a bid to move closer towards a FTA.
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Comments 1-7 of 7
Posted by Doug Lynch, USA on 27 April 2007 at 03:50 UAE time
The can look at the retailers, but the majority of costs come from utlities, transportation and rents. Cost of housing for employees and other factors beyond the retailer's control cause prices to increase.
Look at the price increase in hotel rooms over the past three years.
Posted by Zulqarnain Abidy, Dubai, UAE on 26 April 2007 at 16:37 UAE time
Housing rent is roughly estimated at 25 to 45% of the take home. The every year increase of 10 - 30% of rents can neither help inflation, nor maintaining or increasing the national growth rate. An effective on house rents would help inflation at low and growth rates on higher side.
Posted by S.Kaur, Dubai, UAE on 26 April 2007 at 14:06 UAE time
A random survey among 30 people I know all confirm their landlords have not done a thing to adhere to the rent cap. In fact, they do not mind if tenants move out as they claim there is more than enough demand. People most affected are the ones who have been here for slightly more than a year, with no increment on salaries but directly hit with high rent increases. We do not know enough about what authorities are really doing to get to the bottom of this problem. This is really part of a solution to retain talent!
Posted by Jeremy Plumley, Dubai, UAE on 26 April 2007 at 13:34 UAE time
Accommodation costs, whether renting or considering purchasing, are THE major factor in UAE inflation. If it was 9.5% in 2006 and the rent cap then was 15% (but only for sitting tenants - if you moved or were new to the country it was much higher) and accommodation takes at least 33% of income on average, as our American friends say - do the maths!
The 7% cap helps but it should apply to the value of the property as assessed by the Government for new and existing tenants and buyers and the Goverment must seriously penalise landlords and property owners who attempt to get round the cap. If jail and/or confiscation of property is the only way, that's what should happen.
Posted by G.McEwan, Abu Dhabi, UAE on 26 April 2007 at 08:54 UAE time
The article comments on the rent cap of 7% as a vehicle of reducing inflation to a more reasonable level. However, many landlords are ignoring the 7% cap. Where can the victims go to get advice on the legitimacy of increases well in excess of this cap, even as high as 22%.
Posted by Rodger Clarke, Dubai, UAE on 26 April 2007 at 08:48 UAE time
The cost of the goods themselves are only part of the total price. The supplier also has to cover overhead costs, including rent and staff wages, both of which are under extreme pressure due to supply shortages in the UAE in recent times. Sharp price rises are virtually unavoidable when you have an economy that is booming to the extent that the UAE is.
Posted by husam, Dubai on 26 April 2007 at 08:29 UAE time
This is a great plan as some retailers have went greedy with no limits. Please let us know if there is a complain line that consumers can call to complain.