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Report ranks UAE as seventh in consumer confidence

Report ranks UAE as seventh in consumer confidence

A recent survey by global marketing research firm has given seventh rank to the United Arab Emirates (UAE) in the list of world’s most optimistic nations in terms of consumer confidence level, during the second quarter of 2009. 

The UAE was said to have registered a five-point rise in its confidence level, by AC Neilson in its Global Consumer Confidence Survey report, reflecting hopes of early revival of its economy. 

New visa rules raise concerns among expatriates

New visa rules raise concerns among expatriates

It has been reported that expatriates in the United Arab Emirates (UAE) might have to deal with certain issues with the new visa legislation.

The fresh rules that have been introduced consist of an increase in the fee of obtaining a visa, and the completion of compulsory health insurance for all visitors to the Middle East region.

With the high visa fee, there is a fear that the joint cost of health insurance will delay some expatriates, who are living in the UAE, from inviting their friends and relatives to come and stay with them.

Five pct increase in guests seen by Dubai hotels

Five pct increase in guests seen by Dubai hotels

The first half of 2009 saw a five percent increase in the number of guests in Dubai hotels, with the guest numbers reaching 3.85 million, compared to the same period a year earlier. This increase is noteworthy given the fact that the travel sector is suffering because of global slowdown, said the Department of Tourism and Commerce Marketing (DTCM) yesterday. 

DED unveils digital face of business life

The Department of Economic Development (DED) recently introduced the new website of the Dubai business community.

The website has been designed with the aim to improve public access to business-related information and procedures.

The sources aid that the latest digital website is the first of many steps planned for the near future to improve the business community's interaction with the Department.

Two Australian property developers charged with fraud

Two Australian property developers charged with fraud

The court documents specify that a sum of nearly $38 million, concerning the sale of land in Dubai, was demanded by two Australian property developers, who are now suffering in a Dubai jail.

In statement of claim, filed by the James Packer-backed Sunland group yesterday, Matthew Joyce and Angus Reed have been mentioned to be involved in over a $63 million sale of land on an exclusive Dubai waterfront.

Hike in UAE consumer confidence during Q2

Hike in UAE consumer confidence during Q2

Monday saw Nielsen Co declaring that, in the second quarter, UAE consumer confidence hiked; however, spending habits were affected due to concerns over job security and the state of the economy.

It was forwarded by Nielsen that out of a possible 200 points, consumer confidence in the Gulf state rose 4 points to 93 in June. During the last survey conducted in March, the confidence was at 89. However, the points were still down from the 110 points in the second half of 2008.

NBAD Launches Overseas Expansion Drive

NBAD Launches Overseas Expansion Drive

National Bank of Abu Dhabi, the nation's second-largest bank by assets, is introducing a major overseas expansion drive, with the aim to double its operations in Egypt and penetrate the fast-growing Indian market.

NBAD has decided to enlarge its network of 28 branches in Egypt to 50 outlets by fiscal 2013.

Despite economic uncertainties in the worldwide economy, NBAD has continued to achieve "good results" and will press ahead with its proposals for expansion.

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