The United Arab Emirates, sometimes simply called the Emirates or the UAE, is a country at the southeast end of the Arabian Peninsula on the Persian Gulf, bordering Oman to the east and Saudi Arabia to the south, as well as sharing maritime borders with Qatar to the west and Iran to the north. In 2013, the UAE's population was 9.2 million, of which 1.4 million are Emirati citizens and 7.8 million are expatriates.
The banking sector in the UAE is quite fragmented, with the market currently being served by 23 domestic banks and 28 foreign banks. Banks incorporated in Abu Dhabi and Dubai hold the lion’s share of total domestic assets.
|Agriculture||fruits, vegetables, tobacco.|
|Manufacture||Petroleum, Crude Petroleum, oil, gold, diamonds, raw aluminum, oil and etc.|
|Services (Including financial)||49.8% (2015 est.)|
|National Bank of Abu Dhabi||Banking|
|First Gulf Bank||Banking|
|Abu Dhabi Commercial Bank||Banking|
NASDAQ Dubai is a Dubai-based stock exchange that lists regional and international shares in the Middle East. Through the exchange, regional issuers can access regional and international investment. International issuers can access investment from the region, through a primary or dual listing. The NASDAQ Dubai region includes the United Arab Emirates and the rest of the Gulf Cooperation Council (GCC), the wider Middle East and North Africa, Turkey and the Indian sub-continent.
The majority shareholder of NASDAQ Dubai is DFM, which acquired two thirds of the shares in May 2010 from Borse Dubai and NASDAQ OMX Group. Borse Dubai still owns one-third of the shares.NASDAQ Dubai is located in the Dubai International Financial Centre, a financial free zone. The exchange is regulated by the Dubai Financial Services Authority. Abu Dhabi Securities Exchange (A.D.X.) (formerly Abu Dhabi Securities Market) [ADSM] is a stock exchange in Abu Dhabi, United Arab Emirates (UAE). It was established on 15 November 2000 to trade shares of UAE companies. There are trading locations in Abu Dhabi, Al Ain, Fujeirah, Sharjah, and Ras Al Khaimah. The Dubai Financial Market (DFM) is a different exchange that trades shares of other public UAE companies but investors can also trade ADSM shares with some of the brokers based at DFM.The ADSM has more companies listed than DFM but trading volume is usually much less. During 2004-2005 there was a substantial increase in share prices and trading activity. From the end of 2005 through until mid-2006 there was a significant downturn with the overall ADSM index dropping just over 30% in the first six months of 2006.
The global crisis was transmitted to Arab economies through several distinct channels: the financial markets, the crude oil market, Arab investments in global asset markets, tourism, the remittance income of Arab workers, and the region’s non-oil exports, originating primarily in North Africa and destined for Europe.
The financial sector was the initial pathway. The first financial shock wave was felt in regional stock markets, which had traditionally suffered from high degrees of volatility. These markets received large volumes of new investment during 2004–7 as a result of the inflow of record-high oil revenues and the repatriation of their foreign investments by some Arab private investors after the September 2001 attacks. Some countries such as Egypt and Jordan, which had previously liberalized their financial markets, experienced especially sizeable foreign investment inflows. In the meantime, Arab stock markets remained highly volatile.
Financial institutions and real estate developers are among the largest publicly listed companies in Arab markets, and both were adversely affected by the global financial crisis. The global crisis sharply reduced the flow of foreign investment into real estate; as a result, the uptrend in real estate prices in the Middle East, which had lasted for several years, came to an end in 2008. This development put severe pressure on real estate construction firms and encouraged sell-offs in regional stock markets. In turn, the end of real estate speculation sharply increased mortgage defaults, and as a result, many listed commercial banks came under financial distress.
Established in December 1971, the country is a federation of seven emirates. The constituent emirates are Abu Dhabi (which serves as the capital), Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah and Umm al-Quwain. Each emirate is governed by an absolute monarch; together, they jointly form the Federal Supreme Council. One of the monarchs is selected as the President of the United Arab Emirates. Islam is the official religion of the UAE, and Arabic is the official language, although English is widely spoken and is the language of business and education, especially in Abu Dhabi and Dubai. The UAE's oil reserves are the seventh-largest in the world, while its natural gas reserves are the world's seventeenth-largest. Sheikh Zayed, ruler of Abu Dhabi and the first President of the UAE, oversaw the development of the Emirates and steered oil revenues into healthcare, education and infrastructure. The UAE's economy is the most diversified in the Gulf Cooperation Council, with its most populous city of Dubai is an important global city and an international aviation hub. Nevertheless, the country remains principally reliant on its export of petroleum and natural gas.
The UAE has been criticised for its human rights record, including the specific interpretations of Shari'a used in its legal system. The UAE's rising international profile has led some analysts to identify it as a regional and middle power.
Mohammed Bin-rashid Al-maktoum
The United Arab Emirates dirham, also known as simply the Emirati dirham, is the currency of the United Arab Emirates. The dirham is often abbreviated "AED", while unofficial abbreviations include "DH" or "Dhs.". The dirham is subdivided into 100 fils. The name Dirham derives from the Greek word Drachmae, literally meaning "handful", through Latin. Due to centuries of old trade and usage of the currency, dirham survived through the Ottoman Empire. The United Arab Emirates dirham was introduced on 19 May 1973. It replaced the Qatar and Dubai riyal at par.
The Qatar and Dubai riyal had circulated since 1966 in all of the emirates except Abu Dhabi, where the dirham replaced the Bahraini dinar at 1 dirham = 0.1 dinar. Before 1966, all the emirates that were to form the UAE used the Gulf rupee. As in Qatar, the emirates briefly adopted the Saudi riyal during the transition from the Gulf rupee to the Qatar and Dubai riyal.
|National Song||"Ishy Biladi"|
|Currency||United Arab Emirates dirham (AED)|
|GDP / GDP Rank||668.933 Billion USD|
|GDP Growth Rate||3.9 Percent|
|GDP Per Captial||$67870.778 (PPP)|
< 1.0% Jews
< 1.0% Other Religions
Other Arab And Iranian 23%
South Asian 50%
Other Expatriates (Includes Westerners And East Asians) 8%
President – Sheikh Khalifa bin Zayed Al Nahyan
Prime Minister – Sheikh Mohammed bin Rashid Al Maktoum
|Website||Go to the web|
|Public Debt||19.304 Percent|
|Unemployment Rate||3.691 Percent|
|Labor Force (Occupation)||-|