UAE Highlights
United Arab Emirates: Monday, June 30 - 2008 at 08:00
A new law issued by the Securities and Commodities Authority (SCA) has stipulated that all listed securities must obtain credit-rating. Abu Dhabi Commercial Bank has announced one more bond issue, this time in Singapore. Also, Dubai’s new low-cost carrier has been officially named, FlyDubai.
Global Snapshot
The US Fed has finally paused after cutting its policy rate by 325 basis points in the last ten months. Meanwhile, European sentiment surveys show a declining trend evens as inflation soars. Taiwan joined the other regional central banks in tightening monetary policy.
GCC Focus
The section includes excerpts from the Kuwaiti budget, which has been officially passed, the Central Bank of Bahrain’s Annual Report for 2007 and the World Trade Organization’s (WTO) Trade Policy Review for Oman.
UAE housing mortgage market to surge
United Arab Emirates: Wednesday, December 12 - 2007 at 07:18
The UAE's housing mortgage market will increase nine-fold during the next five years to Dhs161bn ($44bn) in 2012, according to a research report by EFG-Hermes, a regional investment bank. The report said the UAE's financial system had a total of Dhs46.3bn in mortgage assets up to the end of the second quarter of 2007, including a large amount of commercial mortgages. Housing mortgages are estimated to be at less than Dhs18bn for 2007, reported Gulf News.
Daily Economic Sheet
