...SHARJAH HIGHER COLLEGES OF TECHNOLOGY PROJECT COVER SHEET- (ASSESSMENT 2) [20%] Course Name | ECON N400 | Faculty Name | Angelo Olo | Project Title | Outlook of the UAE Economy | Due Date | Nov. 4, 2012 | Section | | Date Submitted | 3-11-2012 | Student Name | --- | Student ID | --- | This assessment will assess the following Learning outcomes: This assessment will assess the following learning outcomes: * LO 2: Analyze patterns of economic activity in the UAE from an oil-based economy to development of the non-oil sector. * LO 3: Evaluate the role of the non-oil sectors on the UAE economy. Declaration; Individual: * No part of this assignment has been copied from another source, (not from another group or student, an internet source or a book). * When another person’s words are used, this is shown in the text with “…” and referenced. * No part of this assignment has been written for me by any other person. * I have a copy of this assignment that I can produce if the first copy is lost or damaged.Name ………………………………………………… Signature …………………………………………….Declaration; Group: * No part of this assignment has been copied from another source, (not from another group or student, an internet source or a book). * When another person’s words are used, this is shown in the text with “…” and referenced. * No part of this assignment has been written by anyone other than the members of the group named below. * We have a copy of this assignment that...
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...In: Business and Management Uae Economic Outlook Economy September 2010 UAE Economic Outlook 2010 UAE Economic Outlook 2010 GDP expected to grow in 2010 Inflation expected to drop to 0.4% in 2010 UAE struggled to post a budget surplus in 2009 Dubai World reaches agreement to restructure its debt UAE GDP expected to grow by 0.6% in 2010 The global recession, which started in Q4-2008, halted UAE‟s economic growth significantly. After a 7.5% growth in real GDP in 2008, UAE‟s GDP increased by only 1.3% to reach AED515bn in 2009. Despite the global recession, the non-oil GDP grew by 8.4% in 2009. Due to the decrease in oil prices and production, the non-oil sector contributed 71% of the GDP in 2009 compared to 66% during the previous year. Overall Broad Money supply decreased by 0.3% as of Q2-2010; grew by 5.4% in 2009 The UAE government implemented expansionary monetary and fiscal policies to stimulate aggregate demand in 2009. Due to the effects of the recession on the economy, the UAE government wanted to expand the money supply and encourage growth. Money Supply (M1) and Broad Money (M2) grew by 3.7% and 2.2% respectively, while the overall broad money (M3) decreased by 0.25% as of Q2-2010 due to a decrease in government deposits. UAE maintained a budget surplus for its fifth consecutive year The budget surplus in recent years was largely credited to high gas and oil profits due to high oil prices. Total government revenue was almost AED293bn for...
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...United Arab Emirates and Economics Institution United Arab Emirates and Economics Introduction The United Arab Emirates is a capitalist country which gives the private investors an opportunity to manage, and maintain commercial and industrial sectors in order to ensure growth and development. The economy has one of the highest Gross Domestic Product (GDP) per capita worldwide. Thus, this allows many people from different parts of the world entering and investing in the economy and also gives them the opportunity to leave whenever they feel like without engaging in various formalities. The country can also be viewed as one that has a liberal market philosophy and which comprises small amounts of corruption in most of the public sectors. Capitalism refers to a system of raising, spending and conserving a given set of monetary value in a given market. Under this economic system, there are three key markets that are the money or financial market, the labor market and the product market. Labor providers are paid wages and salaries depending on the nature of employment. They make products that are sold by the firms, companies and corporations to the consumers. Money market is involved in both the supply and demand for money. Money supply is mostly undertaken by the central banks of various countries while demand is determined by the speculative transaction and precautionary motives respectively. The money market operates...
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...Economy September 2010 UAE Economic Outlook 2010 UAE Economic Outlook 2010 GDP expected to grow in 2010 Inflation expected to drop to 0.4% in 2010 UAE struggled to post a budget surplus in 2009 Dubai World reaches agreement to restructure its debt UAE GDP expected to grow by 0.6% in 2010 The global recession, which started in Q4-2008, halted UAE‟s economic growth significantly. After a 7.5% growth in real GDP in 2008, UAE‟s GDP increased by only 1.3% to reach AED515bn in 2009. Despite the global recession, the non-oil GDP grew by 8.4% in 2009. Due to the decrease in oil prices and production, the non-oil sector contributed 71% of the GDP in 2009 compared to 66% during the previous year. Overall Broad Money supply decreased by 0.3% as of Q2-2010; grew by 5.4% in 2009 The UAE government implemented expansionary monetary and fiscal policies to stimulate aggregate demand in 2009. Due to the effects of the recession on the economy, the UAE government wanted to expand the money supply and encourage growth. Money Supply (M1) and Broad Money (M2) grew by 3.7% and 2.2% respectively, while the overall broad money (M3) decreased by 0.25% as of Q2-2010 due to a decrease in government deposits. UAE maintained a budget surplus for its fifth consecutive year The budget surplus in recent years was largely credited to high gas and oil profits due to high oil prices. Total government revenue was almost AED293bn for 2009, a decline of 35% from the previous year, while hydrocarbon...
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...Discuss any economic resource which is scarce in UAE or a well-known country. Then analyze the pros and cons of the government procedures which have been carried out toward this problem. In your opinion, what are the most effective suggestions to solve this scarcity problem? INTRODUCTION: Economic resources are the land, labor, capital and entrepreneurial ability that are combined to produce outputs in order to meet the ever-changing needs and wants of individuals and society as the whole. They earn, rent, wages, interest, and profit, respectively as their resource payments. Good and services that are scarce are economic goods. Scarcity is the basic economic problem that is unlimited human needs and wants, in a world of limited resources. UAE is oil rich country which is in a serious danger of losing its water resource in the coming 50 years. Abu Dhabi is one of the richest emirates swallow around 550 liters of water per day by per person which is comparatively quite more as compare to other countries in the world.UAE government incurs lot of money on the energy cost as desalination plants are set up in order to provide fresh water. Desalination plants costs $18 million a day, apart from this they also have huge environmental impact. The arid climate of the country plays a significant role in the water resources availability. Rainfall, which is a main source of recharge for different water resources, such as surface water and groundwater, is scanty and extremely irregular...
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...Performance Appraisal At Department of Economic Development How Performance appraisal is being implemented in the DED Introduction Department of Economic Development (DED) is a department that is established by Abu Dhabi government to have an economic dimensions and influences on the investors who are giving the trust to invest in Abu Dhabi. The department is very important for each investor in the UAE because whenever they want to establish any company or factory they have to go and check what are the policies and regulations with the commercial affairs in order to build up a company with a developed economic environment that would attract both the foreigners and locals. It has more than 50 branches in Abu Dhabi, Al Ain and Al Gharbiya. DED’s objective is to achieve the best economic development by its commercial affairs and the economic regulation for the best interest of the country. The research paper will talk about how the performance appraisal will be applied in this government department and how do they deal with it through an economic development environment. On the other hand, we’ll be able to analyze what are the differences between what we’ve studied through this course and what it is implemented through the department. As I am working in the HR department at DED and that always deal with doing the performance appraisal and checking if there is any difficulties that the employees would face it while they are giving their opinion about performance appraisal...
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...of UAE and France Economies Submitted to: DR. Asima Shiraz Usama Rehan Khan 4650578 | TBS905 ------------------------------------------------- A Comparative Analysis of UAE and France Economies Submitted to: DR. Asima Shiraz Contents Abstract 2 Introduction to UAE Economy 2 Introduction to French Economy 2 GDP (Gross Domestic Product) 3 Components of GDP 4 Consumption 4 Private Investments 4 Government Expenditures 5 Net Exports 6 Unemployment 7 Inflation 8 Exchange Rate 8 Critical Analysis of Economies 10 France 10 United Arab Emirate 11 Abstract This paper is an attempt to give the comparative analysis of the economies of France & UAE. Both economies vary in their structure, size and opportunities. This work tries to elaborate the economies by discussing variable like GDP, Inflation, Exchange Rate and Unemployment. It tries to give a clear picture of the past trends, factors influencing the variations and future predictions. It also involves the critical analysis of both the economies that what current scenario would shape up the future. Introduction to UAE Economy The UAE has an open economy with high sizable annual trade and per capita income. Since the discovery of oil in UAE more than 30 years ago the country has achieved economic diversification and reduced the contribution of oil and gas to GDP to 25 percent. UAE has transformed itself from desert principalities to a modern state with high standard of living. UAE government...
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...Economic Environments on Business Activities Task 4 Your local magazine plans to publish a follow-up article to the first one, which was well accepted. In this article, you will need to choose one of the two organisations from your initial article and compare it with an organisation from another industry. This requires you to research a different economic environment and to look at one business from that industry. This business with then be compared with your local business. * Draw up a table of economic data for your local organisations and one other contrasting economic environment. * Choose at least two economic topics and collect relevant data from two different industries example GDP, retail sales, inflation and interest rates. * Using the data collected in your table, describe the influence of two contrasting economic environments (i.e. the economic data collected) on business activities within your selected organisations. Economic Environment An economic environment is the factors that have effects on the working of the business. This will include the system, policies and the nature of the economy, economic resources, level of income, distribution of income, trade cycles and wealth. GDP The gross domestic product or the gross domestic income (GDI) is one of the measures of national income and output. It is defined in 3 ways which gives identical results. 1. It is equal to the total expenditures for all final goods and services produced within the country throughout...
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...Department of Economic Development Challenges The Department of Economic Development in Dubai organizes, regulates, and boost trade within the industry of Dubai, UAE. This Department registers business and gives licenses and commercial protection (“Dubai business”, 2012). Due to such a significant Department and the role it plays within the city of Dubai, it faces some challenges. A survey was completed based on prospects for the year 2012, and according to that survey, the Department of Economic Development faced some challenges throughout the year (Sambige, 2012). The Business Confidence Index that was under the Department of Economic Development was not as successful as it was in its previous years. The reason for this fallout was due to the summer holidays and the time of Ramadan during the past summer (Sambige, 2012). The Dubai faces the challenge, of trying to increase productivity as a result of the scarcity of capital as well as the increased cost, given the global environment (Rowe, 2012). The economic crisis that hit Dubai, deeply affected the DED. The construction and the real estate sectors in the city minimized vastly by 14.7% and 2.6% in 2010, compared to 19.5% and 19.8% in 2009 (Rowe, 2012). Another challenge that the DED is facing this year is the economic slowdown that is occurring in other countries such as Europe, China, India, as well as other GCC countries. There have been issues such as economic crisis in other parts of the world as well as the rise...
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...Arab Women (Non - National) in UAE Changes in the labor market across the world have triggered human migration across the globe. The migration is in search of opportunities and pressure from home countries. The fight for human equality and unfavorable economic conditions in home countries are some of the factors triggering the migration. Potential countries in terms of economic growth are final destinations for these immigrants. They feel a growing economy will boost earning, education and empowerment opportunities. Adina is an ambitious Arab woman born in UAE, by Yemen parents. She feels her stay in UAE if worth than her native Yemen. She is compelled to work hard by the growing economy in UAE; she has to keep up with the pace in order to fit in the economy. Adina is a young woman living with her family in Dubai. UAE economy is the strongest in western Asia, a fact that has raised the living standard especially in cities. To keep up with the growing economy, Adina merged her studies with a job in the aluminum industry in Abudhabi. It is a challenge for her to manage both the education and her job, considering she work during the weekdays and attend her lectures on weekends. She is also expected to meet demands and obligations by her family. She is determined to face these challenges in order to secure her future in UAE economy. Adina admires good life in UAE, and she works hard to maintain the status. Life has not been always good for Adina; UAE has presented her with various...
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...sources, benefit from global sourcing advantages, or gain flexibility in the sourcing of products • Gain access to lower-cost or better-value factors of production • Develop economies of scale in sourcing, production, marketing, and R&D • Confront international competitors more effectively or thwart the growth of competition in the home market • Invest in a potentially rewarding relationships with foreign partners 2. Describe the five drivers of globalization? Explain in detail with reference to BRIC Countries. • Worldwide reduction of barriers to trade and investment. • Transaction to market-based economies and adoption of free trade in China, former Soviet Union countries, and elsewhere. • Industrialization, economic development, and modernization. • Integration of world financial markets. • Advances in technology. The BRIC countries are made up of Brazil, Russia, India and China - although if we were to categorize them by importance, it would actually be CIRB. The BRIC are both the fastest growing and largest emerging markets economies. They account for almost three billion people, or just under half of the total population of the world. In recent times, the BRIC have also contributed to the majority of world GDP growth. According to various economists projections, it is only a matter of time before China becomes the biggest economy in the world - sometime between 2030 and 2050 seems the consensus. In fact, Goldman Sachs believe that by...
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...The food and beverage industry that we are going to enter is huge and wide especially in UAE, because UAE is one of world's leading food and beverage markets. According to report done by KPMG company in 2016 “ the food and beverage industry size measured by euromonitor was approximately AED52.4 billion ’’. The F&B industry continue growing due to the position of UAE as a global tourism country and the different cultures in it. The food industry in UAE divided into three major segments: retail outlets, other market outlets, restaurants. So in this fragmented industry we chose to open new restaurants for healthy fast food. There are about 2755 restaurants in Sharjah , 4600 in Dubai , and 2800 in AD , where 54% of people in AD eat out fast...
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...customer base. This will be achieved through high-margin services. For these plans, UAE seems like a good option. This concise marketing plan will explain six factors; market needs and growth opportunities, SWOT analysis, market competition, service offering, service identification and justification for this specific service. Market Needs KFF’s gourmet brand will be provided along with a well-designed catering service. The company is looking forward to serve customers in four different ways. The first one is to provide them with delicious gourmet with the cutting-edge presentation. This will be quite difficult because there are numerous ethnic groups in this region (Taylor, 2009) and each will prefer a different type. Second need is the well-planned strategy; everything from menu selection from timing the course delivery should be perfect. Dependable customer services come next in the list. Final point is to offer above three at optimum rates, in line with customer expectations. Market Growth Estimation of business strengths by judging the market growth is one of the major aspects of marketing plan (Kotler & Keller, 2006). Our proposed market, the United Arab Emirates (UAE), is one of the fastest growing economies in the world. That is why countless businesspersons are investing in this emerging business hub. Even after being adversely effected by the global crisis in the last two years, economic growth figures are expected to reach 3.2% this year (Gulf Daily News, 2010). In addition...
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...Islamic Architecture in the UAE Many cities all over the world are developing to become important urban areas in all respects like Tokyo, New York and Mumbai. Every city has some reasons for their develop like building factories, importance of the location and much more. On the other hand there are some cities that had decline like Detroit, Flint and Cleveland because they only have depended on one resource for income. Abu Dhabi has grown through its economic vision and it is trying to sustainable its development through diversification to avoid declining. Development and growth in cities is shown through some reasons. The strategic location of the city. For this reason, most major cities are on rivers or at the junction of important overland routes (City, 2008). Moreover some cities owe for the importance of religion and became centers of worship (City, 2008). For example the city of Rome survived the collapse of the Roman empire because it was the capital of western Christendom (City, 2008). Early cities that developed strong military forces added to their territory, wealth and importance by conquest. Favorably located settlements often became large and prosperous through commerce (City, 2008). Also some modern cities owe to their development and to the fact that they were built as national capitals. Like Washington, D.C; Canberra, Australia (City, 2008). Climate also is a an important factor; the cities of Florida owe much of their growth to the state’s...
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...TOYS – NOT A CHILD'S PLAY TO INDIA Lakshmi Assistant Professor Chinmaya Institute of Technology, Kannur Introduction:- Indian toy industry which is more than 75 years old is on a path of economic recovery. Owing to the downturn in Indian economy this industry has witnessed a stagnation and degrowth for the past few years . In 2012 the current value growth of toys fell to 17%. The major contributiroies to this fall was inflation and influx of cheap chinese toys. However it is pertinent to note that despite the...
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