Nearly 80 percent of the expatriate population is “economically active”, compared with only 45 percent of Emiratis, a recent market study shows. Nearly 20 percent of the population were voluntarily unemployed while 2.3 percent were looking for work, records from the National Bureau of Statistics revealed. The Report on Economic & Social Dimension 2009 showed
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The Barack Obama administration is putting plans in place to double US exports to the UAE over the next five years, according to Assistant Secretary of Commerce Suresh Kumar. US companies seeking to do business in the UAE will receive support from the US government as the US sees the UAE as a “gateway to
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Emirates Airline announced to hire more than 700 pilots over the next 18 months to support new routes, new aircraft and increased frequencies. The airline currently has a fleet consisting of 147 planes with a further six aircraft due to arrive this calendar year. A total of 144 planes worth around AED176 billion ($48 billion)
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Set to open on June 27 for cargo flights, Al Maktoum International, the centrepiece of the $33 billion Dubai World Central megaproject, is planned to be the world’s largest airport when it is fully completed. The five-runway airport will eventually be able to handle 160 million passengers a year, up from the previously projected 120
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Last month, the UAE government had projected growth of around 3.2 percent in 2010. “The UAE economy will grow in 2010 and 2011 at an expected range of roughly 4 percent,” central bank Governor Nasser Al Suweidi told an Islamic finance conference in Singapore. “The UAE is embarking on a few landmark projects like the
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Banking in the UAE – A terrible customer service experience… Setting up a bank account in the UAE can become a daunting task especially if you want a corporate account. First of all, banking rules vary from branch to branch (within the same bank!!!!!) and what is possible in one branch is impossible in another
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Unfolding efforts by Dubai to restructure its corporate holdings and manage an estimated US$85 billion (Dh312.2bn) in debt appear to be winning the confidence of investors, judging from prices for the emirate’s bonds. Dubai Government bonds, which have been rising steadily since last month, continued to climb after news that the Government-owned conglomerate Dubai World
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A stem cell processing and storage bank will start operations in Qatar in July 2010, putting the Gulf state at the forefront of regenerative medicine, company chiefs have announced. The Virgin Health Bank (VHB), which will collect, process and store cord blood taken from the umbilical cord of newborns, is a partnership between Qatar Science
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Mediation or Alternative Dispute Resolution Whether companies have difficulties with suppliers and customers, patent infringements or problems with employees: Normally objective discussion quickly becomes emotional and positions harden. Frequently court litigation becomes the only way to solve the problem. Control over the proceedings is taken out of the hands of the adversarial parties and the
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