NL/28.05.2017

/ / May 2017, Newsletters









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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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