Last Week in UAE

Minimal impact of BREXIT expected in UAE:


UAE being the country with the highest number of entrepreneurs in the Middle East can breathe a sigh of relief. Due to UK’s referendum on its membership of the EU, there was a major setback in the world market but UAE saw minimal impact on its economy. The limited exposure to the two currencies in banking system and limited connection between the UAE financial system and that of the UK assures low risk for the UAE Economy.

UAE and Bahrain emerged as the top generator of jobs among GCC:

Generation of jobs in the Gulf Cooperation Council (GCC) region continued to slow down since may 2016 due to low oil market  and global economic uncertainty. UAE and Bahrain emerged as the top generator of jobs among the region, said Monster Employment Index for the Middle East. Hiring in oil and gas companies, banking, financial services and insurance companies remained sluggish. But on the brighter side, candidates who are healthcare professionals, as well as those with experience and qualifications in sales and business development and engineering and production are in demand.

UAE’s ENEC awards $3bn nuclear deals to 14000 local companies for UAE’s first nuclear energy plant:

ENEC’s Barakah nuclear power plant country’s first nuclear energy plant is currently under construction in the Western region of Abu Dhabi. 65 per cent of construction is been completed so far and (ENEC) has confirmed that $3bn (Dhs 11bn) have been awarded to more than 1,400 local companies for the construction nuclear energy plant last week in UAE. By incorporating a number of UAE-based companies in the project, The Emirates Nuclear Energy Corporation aims to contribute to the development of the local economy and to stimulate the growth of heavy industries in the country.

Dubai and Abu Dhabi rise up in the most expensive city list:

In a survey by consulting firm Mercer, Dubai and Abu Dhabi have climbed up several places in the ranking of the most expensive cities in the world for the expatriates. Dubai climbed up two places from last year to 21st while Abu Dhabi is ranked 25th from 33rd. Due to Dollar strength and rental increases many Middle Eastern cities have climbed up the rankings.  Also, Middle Eastern cities like Beirut (Lebanon) which dropped from 44th last year to joint 50th with Amman (Jordan) – up four places. This means cities in the region have become more expensive for the expatriates and with increase in the cost of living expatriates would expect a raise in their housing allowances.

Dubai ranked among the top 10 world’s cities for green buildings:

Meydan_CityDubai has secured its place as one of the top ten global cities for green buildings, a recent white paper published by consultancy firm Solidiance. The emirate is ranked eighth in the list, which measured cities for their green building performances and initiatives across four different categories. Three of the categories have focused on the number of green building initiatives & their effectiveness, while the last category focused on each city’s overall green performance.

Dubai scored of 43.52 per cent, scoring most strongly in the ‘green building efficiency and performance’ category. However, it scored poorly in the waste recycling metric and in its renewable energy consumption levels. Paris, Singapore, and London were found to be at the top of the list, with the largest number of green buildings and initiatives.

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