NL/28.05.2017









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Hello,

CRIF – Dun & Bradstreet is pleased to bring to you the latest edition of our newsletter ‘CRIF Gulf Insights’ (CGI). CGI will keep you informed about the current trends in the GCC markets and highlight key events in the regional and global economy.

We look forward to your feedback at [email protected]

Happy Reading!

Best Regards,
CRIF Dun & Bradstreet Communications Team

CGI | Issue 71 | May 2017

Country Risk Update – UAE

The UAE will continue to strengthen its position as a regional safe haven and business hub. Access to global markets from Dubai will be among the best in the world. Dubai goes against the global trend and increases its investment inflows, helping to reduce the UAE’s dependency on oil and gas revenues.According to the latest report of the Dubai FDI Monitor, in 2016 it attracted AED25.5bn (USD6.9bn), making it the seventh most successful global city.Importantly, scientific and research services ranked third, accounting for 6% (up from only 1% in 2015). Meanwhile, foreign investment stocks in Abu Dhabi, the largest emirate, increased by 8% in 2016 to reach AED95.1bn (USD25.9bn).

Business, Finance and Commodity News

UAE sees steep rise in credit card applications

The number of people applying for credit cards in the UAE soared by 65 percent year-on-year in the first quarter of 2017, new research shows.This marked a huge overall increase in the number of credit card applications during the period – at 102.4 percent, according to a research. During the same period last year, the most applied-for card was a premium offering with a minimum salary requirement of AED20,000 ($5,444) per month.

UAE is all set for VAT implementation starting next year

The UAE government is going full steam ahead with the implementation of a value added tax (VAT) in the country from January 1, 2018. The Federal National Council (FNC) approved the draft law last month and the final law is waiting for the presidential approval.With the imminent VAT implementation, tax practitioners, technology consultants and relevant government departments are gearing up for the new tax regime in the country.

UAE banking merger could be just the start

The UAE has a new banking giant. The merger of National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB), which came into effect late on March 30, has created the biggest financial entity in the country, with about $183bn worth of assets — one-quarter of the entire sector. The Abu Dhabi government and state-owned entities will own about 37 percent of the merged entity.

UAE gears up: Sin tax good for health, bad for firms

The announcement on Tuesday of new taxes on tobacco products and carbonated drinks will have an impact on the industry, according to experts and analysts.The first tax on carbonated,or fizzy, drinks, will see prices rise by 50 per cent. This applies to all carbonated drinks except for sparkling water.Separately, a tax of 100 per cent will be placed on energy drinks, such as Red Bull,and tobacco products, effectively doubling their price.

UAE banking major raises $587m in green bond debut

National Bank of Abu Dhabi has issued the Gulf region’s first green bond, raising $587 million for projects to fight climate change as said on Thursday. Proceeds from so-called green bonds help to finance projects in renewable energy, energy-efficiency, green transport and waste water treatment.The five-year bond is listed on the LSE. Global green bond issuance could reach $125-150 billion this year as demand for low-carbon infrastructure investment continues.

Commodity Tracker

D&B Article of the Week

How to mitigate the risks of venture capital

Getting into angel investment can be scary. You could lose everything – even if you do it right. So how do you best mitigate the risk? As an angel investor, you are going in with your eyes open that you could lose the money,” says Vikas Shah, a visiting professor of entrepreneurship at the MIT Sloan School of Management.
“That’s your maximum risk here, plus reputational risk and all of those things. But you are looking at that business and it’s the gut feel you have. Question two, can that team execute? If it makes sense and that team can execute, that’s the bulk of my risk mitigated.” 
Saud Al Nowais, a commercial counsellor for the UAE to the United States, suggests investing through angel networks and firms such as VentureSouq, which will hold your hand through the process.
 

CRIF D&B Highlights

Over 360 clients and partners at the 2017 CRIF Lending Forum in San Antonio, Texas..
This year edition of the CRIF Lending Solutions Forum, was held on May 7-10 at the Hyatt Regency Hill Country Resort and Spa in San Antonio, Texas, and attendees had the opportunity to enjoy captivating keynote speakers, informative education sessions, countless networking opportunities and spectacular evening events that allowed them to soak in everything Texas has to offer.

CRIF Gulf Introduces iPulse in UAE
iPulse is a new state of the art business application that supports end-to-end field due diligence process. For more information, send an email to [email protected]

Click Here to visit us!

Upcoming Events this Week

The Indian Property Show 2017
Jun 08 – Jun 10
World Trade Center

AIB Annual Meeting
Jul 02 – Jul 05
JW Marriott Marquis

Reading Recommendation of the Week

Wealth Can’t Wait
Wealth Can’t Wait: Avoid the 7 Wealth Traps, Implement the 7 Business Pillars, and Complete a Life Audit Today! David Osborn and Paul Morris, two of the most popular and celebrated wealth-building minds in the game today, have mastered the art and science of sustainable wealth creation through entrepreneurship, passion.
Release Date:
April 04, 2017

Did You Know?

You Could Protect Your Business Globally using CRIF D&B’s Business Rating Reports? 
Click here to know more

CRIF GULF DWC LLC
Level 15, ’48 Burj Gate’, Downtown Burj, Shaikh Zayed Road, Dubai, UAE 
Tel. +971 4 406 9900
www.dnbuae.com

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NL/21.05.2017









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Hello,

CRIF – Dun & Bradstreet is pleased to bring to you the latest edition of our newsletter ‘CRIF Gulf Insights’ (CGI). CGI will keep you informed about the current trends in the GCC markets and highlight key events in the regional and global economy.

We look forward to your feedback at [email protected]

Happy Reading!

Best Regards,
CRIF Dun & Bradstreet Communications Team

CGI | Issue 70 | May 2017

Country Risk Update – Oman

The ports of Sohar and Salalah are emerging as regionally competitive infrastructure facilities, soon to be joined by Al Duqm. The government is targeting high-end tourism as an area for growth. Oman boosts tourism potential though the development of its airlines, expanding the number of routes and flights, and significantly increasing the number of hotel rooms.The government hopes to attract five million foreign visitors by 2040, by which time the industry will employ over 500,000 people and contribute between 6-10% of national GDP. To extract greater value of hydrocarbons resources, the state-operated company Oman Oil has signed a USD7bn deal with Kuwait Petroleum International to build an oil refinery in the nascent port town of Duqm.

Business, Finance and Commodity News

Dubai sees over 126% rise in new businesses launched during Q1

The number of new businesses that launched in Dubai during the first quarter of the year increased by 126.5 per cent year-on-year, according to figures from Dubai Economy. Dubai Economy has taken giant strides in enhancing ease of business and competitiveness as part of our strategic objective of enabling sustainable growth and positioning Dubai as the preferred investment destination

UAE climbs to 26th in World Bank’s Doing Business ranking

The UAE has topped the Middle East and North Africa region in the World Bank’s 2017 Doing Business ranking.The World Bank said the UAE was among the top 10 economies for improvements to business regulations this year alongside Brunei Darussalam, Kazakhstan, Kenya, Belarus, Indonesia, Serbia, Georgia, Pakistan and Bahrain.

Dubai sees rise in off-plan property sales

Dubai registered a 45 per cent increase in the sales of off-plan residential properties in the first quarter of the year, compared to the previous quarter, a new report has found. According to a report, the number of transactions for ready properties in the emirate grew by 4 per cent on average during the period. Overall, transactional activity – for both ready and off-plan units rose by 25 per cent quarter-on-quarter in Q1.

Saudi to introduce flexible work contracts

Earlier, oil was higher than $100 a barrel which encouraged a seemingly endless stream of lucrative projects. Now, with crude priced at half that, companies are trying to rebuild their balance sheets. The downturn has translated into pain for investors in two of the largest construction companies in the UAE. Investors may look to DSI results on May 14 for signs its restructuring plan is working after Arabtec reported its first quarterly profit since 2014. 

The growth of green bonds in the Middle East

Green finance continues to feature strongly as policy makers push for more sustainable energy sources in an era of growing concerns over climate change.The Middle East continues to make good progress towards green growth and a low-carbon economy, providing significant opportunities for green bonds as a source of financing.

Commodity Tracker

D&B Article of the Week

You Can’t Handle the Truth? Assessing Truth and Meaning

There is a reason why we promise to tell the truth, the whole truth, and nothing but the truth. Each of these is a distinct thing. It’s hard to ignore the concept of Truth, especially in an election year. Accusations of lies, assertions of truth, fact checking, and apologies for “miss-speaking” seem to be everywhere. Philosophers have struggled with the concept of truth for millennia, yet it is still one of those concepts that we seem to understand intrinsically until we try to define it. So what do we really know about the truth in data, and how do we know we know it? Read more

CRIF D&B Highlights

CRIF strengthens its positioning in Jamaica by acquiring all shares in CRIF NM Credit Assure Ltd.
CRIF NM Credit Assure was established in 2011 with the objective of providing a world-class credit bureau and related added-value services in Jamaica and the Caribbean. After obtaining the license in 2012 from the Ministry of Finance to operate a full file (positive and negative data) credit bureau in Jamaica, it began operations in September 2013, benefiting from the experience and commitment of both CRIF and Massy Technologies InfoCom Jamaica (MTIJ). 

CRIF Gulf Introduces iPulse in UAE
iPulse is a new state of the art business application that supports end-to-end field due diligence process. For more information, send an email to [email protected]

Click Here to Know More and Register for Free!

Upcoming Events this Week

Future Technology Week 2017
May 21 – May 23
World Trade Center

Middle East Economic Forum
May 21 – May 24
JW Marriott Marquis

Reading Recommendation of the Week

Extreme Ownership
In Extreme Ownership, Jocko Willink and Leif Babin share hard-hitting Navy SEAL combat stories that translate into lessons for business and life. With riveting firsthand accounts of making high-pressure decisions as Navy SEAL battlefield leaders, this book is equally gripping for leaders who seek to dominate other arenas.
Release Date:
October 20, 2015

Did You Know?

You Could Protect Your Business Globally using CRIF D&B’s Business Rating Reports? 
Click here to know more

CRIF GULF DWC LLC
Level 15, ’48 Burj Gate’, Downtown Burj, Shaikh Zayed Road, Dubai, UAE 
Tel. +971 4 406 9900
www.dnbuae.com

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