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Newsletter 21

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Stay tuned with the Italian Chamber of Commerce in the UAE!

Aperitivo Italiano - Capanna nuovaYou are kindly invited to our

APERITIVO ITALIANO

Venue: Capanna Nuova – Dubai Marine Beach & Resort Spa
Timing: from 7PM
Date: 17th of November 2018

DESIGNER IN DUTYDESIGNER IN DUTY

Venue: OCONCEPT
Timing: from 7PM TO 10PM
Date: 14th of November 2018

Luca Gregorio: best designer at white show 2015 at fashion week in Milan

The Italian designer will draw the malph winter 2020 collection in “o concept store” in dubai

The live performance is a “window-art” involving all participants.

A selection of news articles that featured in official publications in UAE and Italy related to the business, economy and culture of the two countries.

JUMPS 10 PLACES IN WORLD BANK'S EASE OF DOING BUSINESS LISTJumps 10 places in world bank’s Ease of Doing Business list

The UAE climbed 10 spots to 11th place in the World Bank’s annual Ease of Doing Business ranking, following a package of reforms in the past year that boosted the country’s economic competitiveness. Country ranks 11th out of 190 economies, due to utility, real estate and judicial reforms. The Emirates is the highest ranking economy in the Middle East and North Africa, and joins the World Bank’s top 20 ranking out of 190 economies for the first time. The country was trailed by developed countries with Sweden in 12th place, Canada (22), Germany (24), Spain (30), France (32) and Japan (39).

Source: The National

Metro commuters set world record for forming longest human chain
METRO COMMUTERS SET WORLD RECORD FOR FORMING LONGEST HUMAN CHAIN

Dubai has achieved another Guinness World Record, this time for the most number of nationalities riding the metro together on Thursday. The feat, which saw commuters coming from 96 countries hopping on the Metro and forming a human chain, was the culmination of the week-long celebration of Public Transport Day organised by the Roads and Transport Authority. It broke the previous record of 75 nationalities set by Norway in 2013.

Source: Khaleej Times

KHALIFASAT LAUNCH IS ANOTHER HISTORIC, PROUD MOMENT FOR UAE- FNC
Khalifasat launch is another historic, proud moment for UAE: FNC

On Monday, the 30th of October, the UAE’s very first 100 percent engineered and developed satellite was launched into orbit from the Tanegashima Space Center in Japan. This represents another historical and proud moment for the UAE and its people. UAE is moving forward in its cultural and scientific mission, creating hope and inspiration for others, adding that the nation is a pioneering model that inspires future generations to achieve massive accomplishments.

Fonte: Khaleej Times

Dubai turns islamic economy hub
DUBAI TURNS ISLAMIC ECONOMY HUB

Key initiatives have helped position Dubai as a global hub of Islamic economy with the sector’s contribution to the emirate’s gross domestic product (GDP) registering 14 percent growth, outpacing the global trend. Driven by various strategic initiatives, the share of Islamic economy in Dubai’s GDP grew from 7.6 per cent in 2014 to 8.3 per cent in 2016, According to the recent ‘State of the Global Islamic Economy Report 2018-19’, the UAE ranks top globally across five Islamic economy sectors as Islamic finance assets globally recorded a surge to $3.8 trillion while global Muslim spend on food and beverage is expected to reach $1.9 trillion by 2023.

Source: Khaleej Times

DUBAI TO OPEN FIRST SKIN BANK IN ARAB REGION
Dubai to open first skin bank in Arab region

Dubai is in the process of setting up a skin bank, the first in the region, which will be used in grafting of burn cases and other patients in need. For the skin bank, excess skin will be preserved according to international standards and will be used for burn patients or trauma patients in cases where skin grafting is not possible or there is not enough skin of the patient to cover the wounds. Besides the skin bank, the DHA will also set up a Cardiology Centre and Cancer Centre by 2020, all in time for the Expo 2020.

Source: Khaleej Times

Why now’s the time to buy a Dubai dream homeWHY NOW’S THE TIME TO BUY A DUBAI DREAM HOME

On Prime property has become more affordable in Dubai as prices continued their downward trajectory in the third quarter of 2018. The emirate was ranked 39th in the Global Residential Cities Index by consultancy Knight Frank. The real estate consultancy said prices in Dubai declined 3.8 percent year on year in the third quarter of 2018; 4.2 percent in the last six months and 2.6 percent on a quarter-on-quarter basis. Dubai prime property prices witnessed the second highest decline in the Middle East after Istanbul, which saw a 6.3 percent drop in super prime home prices. According to real estate services firm Chestertons, an additional 10,000 units are expected to be delivered in Dubai this year and another 70,000 before Expo 2020.

Source: Khaleej Times

GENDER PARITY CAN DRIVE ECONOMIC GROWTH IN UAEGender parity can drive economic growth in UAE

Women play a highly important role not just in the overall economic growth of a country. According to the Council on Foreign Relations, if women’s participation in the UAE is fully equal to men’s, the nation’s GDP can gain further by 16 percent by 2025, which is equal to an overall gain of $101 billion, or $10,985 per person. UAE leads the region in four specific issues of the indicators used to measure gender parity: access to education (100), to financial services like bank accounts and digital payments (59), access to the Internet and mobile phones (98), legal policies and protections (98).

Source: Khaleej Times

Special – Saudi Arabia

Saudi Arabia to offer visitor visa for special events
SAUDI ARABIA TO OFFER VISITOR VISA FOR SPECIAL EVENTS

Saudi Arabia will offer an electronic visa for foreign visitors to attend sporting events and concerts from December, the Kingdom said on Tuesday. At present, foreigners traveling to the country are largely restricted to resident workers and their dependents, business travelers, and Muslim pilgrims who are given special visas to travel to holy sites. The ‘sharek’ visa process will be introduced for a motor race on December 15, according to a statement by the General Sports Authority (GSA).

Source: Khaleej Times

NO INTENTION OF 1973 OIL EMBARGO REPEAT- SAUDI MINISTERNo intention of 1973 oil embargo repeat: Saudi Minister

In a column published last week, Saudi-owned Al Arabiya channel’s general manager Turki Aldakhil warned that imposing sanctions on Riyadh could spark global economic disaster as oil could jump to $200 per barrel. Khalid Al Falih said that if oil prices went up, it would slow the global economy and trigger a recession. “This incident will pass. But Saudi Arabia is a very responsible country, for decades we used our oil policy as a responsible economic tool and isolated it from politics,” Falih said.

Source: Khaleej Times
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