Daily Personal Finance Insights – Eco credit

Daily Personal Finance Insights – Eco credit
14 March 2013

First green credit card

First Gulf Bank (FGB), launched the UAE’s first green Visa Credit Card in association with Masdar, Abu Dhabi’s renewable energy company.

For every purchase made by the customer using the card, FGB will automatically contribute on behalf of the customer up to 0.6% of the transaction value towards a fund that will support environmental and sustainable projects

UAE consumer confidence on the rise

MasterCard has revealed the results of the latest MasterCard Index of Consumer Confidence, which indicates that Consumer Confidence in the UAE is steadily rising, with a score of 91.4  as compared to 86.0 in the previous edition of the Index released 6 months ago.

Consumers in the UAE are ‘extremely optimistic’ in their overall consumer confidence score, and are positive about all five indicators measured in the Index.

When compared to the previous edition of the survey, consumers are more optimistic about Quality of Life (95.6 vs. 88.6), Employment (95.2 vs. 88.9), Economy (94.6 vs. 89.1) and the Stock Market (86.9 vs. 77.0). Consumers also remain very optimistic about Regular Income (84.7 vs. 86.2), despite a slight decrease in its score when compared to 6 months ago. 

UAE bright star in world economic woes

The UAE has a stable investment environment supported by sustainable economic growth, making it “the only window of opportunity in the troubled world economy,” according to a Russian radio report. 

In a special report on the UAE, the Voice of Russia said: “the markets of the Gulf region, and specifically the United Arab Emirates, provide the best environment to attract international investments and give the only ray of hope in the world's dark economic tunnel.” The report cited the UAE's booming economy; high growth rates; positive performance indicators in non-oil sectors, such as tourism, trade and logistics; and high oil prices as factors that reinforce the UAE's ability to attract investments and to gain investors' confidence.

Exports up

UAE exports grew 61% to Dh135.7 billion in first nine months of 2012.

“The preliminary statistics of the UAE non-oil foreign trade showed that gold has been the major item in the UAE export structure at a top of the major ten exported goods with Dhs79.8bn, followed by ethylene polymers in the basic forms with Dhs5.3bn, jewellery and jewels with Dhs4.9bn, crude aluminium with Dhs3.3bn, propylene polymers in the basic forms with Dhs2.9bn, petroleum oils and oils obtained from bituminous minerals with Dhs2.4bn,” the Federal Customs Authority (FCA) said in a press release.

Asia- Pacific came at the top of the major trade partners of the UAE in non-oil foreign trade with a total of Dhs326.1bn at 42% of the total trade. Europe came second with Dhs222.2bn at 29% of the total trade, then the MENA with Dhs110.6bn (14%), America and the Caribbean with Dhs64.9bn (8%). The Western and Central Africa region came in the fifth place with Dhs23.2bn (3%) and finally came COMESA with Dhs20.8bn (2.7%). 

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Head of Behavioral Finance
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