economy and business
The Dubai Financial Market and NASDAQ Dubai
The Dubai Financial Market
The Dubai Financial Market (DFM) was established in March 2000 as a secondary market for trading both local and foreign securities and bonds.
As of fourth quarter 2006, its trading volume stood at about 400 billion shares, worth a total of 95 billion US dollars in total. The DFM had a market capitalisation [...]
Inflation
Inflation is a serious concern with any growing economy.
In Dubai years of strong economic growth have been accompanied by rising inflation rates – inflation rose by over eleven percent in both 2007 and 2008.
This is partially due to a near doubling of commercial and residential rental costs, substantially increasing the cost of living for residents. [...]
GDP, import, export and oil bullets
Here are seven statistical factoids relating to import, export, oil and GDP :
Dubai’s gross domestic product as of 2005 was 37 billion US dollars.
Although Dubai’s economy was built on oil revenues, oil and natural gas now account for less than six percent of this figure.
It is predicted that Dubai’s oil reserves will be exhausted in [...]
Free zones and trade
Due to its location, Dubai was traditionally a convenient place for business to bridge the gap between East and West and it continued to be an important trade route in the 1970s and 1980s.
Dubai has a free trade in gold and until the 1990s was used as a base for smuggling gold ingots into India, [...]
The changing economy of Dubai
When people think of the riches of the Arab nations they tend to think of only one thing – oil.
But the rulers of Dubai are well aware that their natural resources are finite and are making preparations for dealing with their inevitable exhaustion.
Once wholly reliant on oil revenues, Dubai’s economy has become increasingly diversified in recent years.
Gas [...]