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Newsletter 03/2019

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

Newsletter 03/2019

Thr IICUAE is glad to invite you at our Aperitivo Italiano.

Location: AMALFI, Palazzo Versace Dubai

Date: 23rd of February 2019

Timing: 7PM to 11PM

100 AED Entrance inclusive of two selected house bevergaes and cocktail bites ispired by Vanitas’ new menu.

Take the opportunity to discover the Italian way to drive, having a look at the 500 Fiat, Abarth 595 and Alfa Romeo Stelvio.

Newsletter 03/2019
Newsletter 03/2019

ADVANCE RESERVATIONS ARE REQUIRED

Book your reserve through Reserve Out

or by calling 00971 4 234 9986

https://www.instagram.com/p/BtdwX6-HJ1f/?utm_source=ig_share_sheet&igshid=1mjwgs0aryix4

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.

HAMDAN’S HOLOGRAM SHOE DEFINES FUTURE
The Crownr Prince of Dubai chose his hologram avatar to map out his vision for future cities. Using visual aids, infographics, futuristic videos and life-like images, he helped the World Government Summit audience imagne the future that would have vertical farms, self-driving cars and artificial intelligence-powered widnows that capture and store power.

REFORMS FOR PROSPERITY
Calls for further reforms in the Region were raised again as the outlook for oil-exporting mean countries is uncertain because regional countries have not recovered from the oil price shock witnessed five years ago. The IMF Managing Director Christine Largade called on Arab Nations to rein in public debt, which has more than doubled in the last 5 years. She emphasized that the economic path ahead for the region is challenging and it makes the task of fiscal policy much harder and even more Important to build strong foundations to anchor fiscal policy.
Source: Khaleej Times

UAE ECONOMY TO LEAD GCC
Economic recovery across the Middle East and North Africa is set to slow down in 2019 and growth is likely to be weaker than more expect, but the UAE at 3.5% growth is likely to be the best performer in the Region in the run up to Expo2020 Dubai. in the Gulf, low oil prices shouldn’t cause major balance sheet strains, but tighter fiscal policy and oil output cuts will be the key reasons for weak economic growth to weaken. While the UAE’s economy is likely to be the best perfom in the Gulf, Saudi Arabia’s economy is set for a slowdown this year on the back of oil output cuts and tighter fiscal policy.
Source: Khaleej Times

Newsletter 03/2019

ADOPTION OF EMERGING TCH POISED TO ACCELERATE IN 2019
The UAE’s willingness to adopt the technologies of the Forth Industrial Revolution, including artificial intelligence, the Internet of Things and blockchain, will see an acceleration in 2019. AI, in particular, is set to contribute $320 bln to the Middle East economy in 2030, equivalent to 11% of GDP. In addition, the Middle East is expected to account for 2% of the total global benefits from AI in 2030. Annual growth in the contribution of AI per year across the Region is estimated between 20-34%.
Source: Khaleej Times

DUBAI RESTAURANT NUMBERS UP ON EASE OF DOING BUSINESS
Foodies across Dubai will have no shortage of dining options to pick from anytime soon, as the Emirate witnessed a 9.7% increase in the number of restaurants and cafes in 2018. The total number of operational restaurants and cafes in Dubai reached 11.813 at the end of 2018.In addition, the number of new restaurants and cafes the opened in Dubai in 2018 reached 1.109, compared to the 1.011 which opened in 2017. Experts say that the increase in new restaurant openings is driven by a growing population, an the ease of doing business in the city. More than  nationalities and work in Dubai, which is today among the top destinations in the world. International and regional restaurants and coffee shops operating in Dubai attract all segments of the community including residents and visitors.
Source: Khaleej Times

UAE STUDENT BUILD SATELLITE TO HELP FIGHT CLIMATE CHANGE
A group of university students in the UAE are building a satellite that aims to help the planet on its fight against climate change. The project is under the educational strategies of the UAE Space Agency and is meant to be launched into space by the end of this year. With the satellite, we will be able to point out what exactly causes the greenhouse gases and predict how to prevent them. it will provide data calculations to students and researchers, so they can work towards fighting against the production of these gases. This is not the first time university students in the UAE are developing a space object. Last November, students from the Khalifa University had built and launched another Nano satellite, MySat-1, which is currently placed in the International Space System.
Source: Khaleej Times

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