Daily Personal Finance Insights – Protecting investors
UAE ease of doing business
The World Bank has released its latest findings on the ease of doing business among 185 countries analyzed. The UAE ranks first in paying taxes, as the country does not impose taxes on income. The overall ranking of ease of doing business is 26 for the UAE of the 185 countries studied.
However, certain factors were not so favourable according to the World Bank; the UAE is ranked 104th for resolving contracts, 101st for resolving insolvency and 128th for protecting investors.
Keeping the money at home
Andrew Scott, Professor of Economics at London Business School predicted that the coming years would see investments staying within the Middle East region, where there is huge scope for trade and services, rather than the majority of goods and money going outside the region. The indications are that the UAE has learned a major lesson: it needed to develop capital markets in its own country, rather than putting money into foreign markets and seeing little of it returning to the UAE.
Emirates Islamic Bank encourages customers to save
In an effort to aid liquidity and help people build for the future Emirates Islamic Bank (EIB) is encouraging people to save and secure their future.
Faisal Aqil, Deputy CEO, Consumer Wealth Management, of EIB said: "Emirates Islamic Bank is committed to providing customers with tailored products that meet their specific financial requirements, while encouraging them to save on a regular basis." Adding. "With the Kunooz Value Plus Account, we offer customers an innovative way to secure the future.”
Marriott debuts campaign to empower Women
Women business leaders from the Middle East and Gulf States gathered at the JW Marriott Marquis Dubai to discuss 'Women as Dynamic Forces of Change.' Created as a forum to empower women, the luncheon and panel discussion sparked the beginning of a longer-term strategic brand partnership between JW Marriott and Vital Voices, a global non-profit that trains and mentors women to enhance their leadership and economic opportunity.
As part of its commitment to supporting women’s leadership in the economy, JW Marriott will continue to source products for its hotels from women-owned businesses.
Middle East IT spending
Middle East (ME) IT spending is projected to total US$ 192.9 billion in 2013, a 5.5% increase from 2012, according to the latest forecast by Gartner, Inc.
Spending on ‘IT devices’ is forecast to reach US$ 29.6 billion in 2013, up 7.7% from 2012; devices are represented by mobile phones, media tablets, PCs, and printers, with mobile phones excelling with more than 14% spending growth in 2013. Mobile phone sales between 2013 and 2016 are forecast to increase 64%, reaching US$ 32.7 billion.