AIM 2011 in Brief

AMEInfo:The UAE's central bank has said it is seeking to finalize a review of regulations on mortgages, banks' loan exposure and liquidity, to ensure they were put into practice quickly, Reuters has reported. "The board instructed speedy finalization of the review of all articles of the said regulations to expedite approval and ensure timely implementation thereof," it said. The central bank has imposed regulations to limit risk at UAE commercial banks three times over the past year, but has then backed off from enforcing them after complaints from the banks. Arabian Business:Italian shipyard Sanlorenzo has said it has delivered a 40-metre aluminium superyacht to Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai. The 40Alloy model was showcased during the recent Dubai International Boat Show 2013, and has now been officially delivered to Sheikh Mohammed, also the UAE's prime minister and vice president. Reuters.com:The European Union's top trade official said on Saturday he wants financial services to be included in negotiations on an ambitious EU-U.S. free trade pact. BBC:Cypriot President Nicos Anastasiades has said a big bailout - which has provoked mass public anger - was needed to avoid a "disorderly bankruptcy". The 10bn-euro ($13bn; £9bn) deal agreed by the EU was "a painful but controlled management of the crisis", he said. Gulf Business:The United Arab Emirates' central bank said on Saturday it wanted to finalize a review of regulations on mortgages, banks’ loan exposure and liquidity to make sure they were put into practice quickly. The central bank has imposed regulations to limit risk at UAE commercial banks three times over the past year, but has then backed off from enforcing them after complaints from the banks. CNN:Eurozone finance ministers Saturday granted a $13 billion bailout package to Cyprus as it grapples with a bloated financial sector that is threatening the region's economy. Yahoo News:Stocks are at record highs. The multi-decade bull market for bonds is likely over. But these days, even playing defense requires treading carefully. What's a cautious, long-term investor to do? Dubib.com:Abu Dhabi: Individual confidence indicators are on the rise, according to the results of Abu Dhabi consumer confidence in economic performance index 2012. Trade Arabia:The Bank of Sharjah, a leading bank in the UAE, has approved the distribution of 10 per cent of cash dividend to the shareholders for the financial year ended December 31, 2012. The Guardian:George Osborne will press ahead with an austerity-first program in his budget on Wednesday, while gently loosening the Treasury's purse strings to offset the worst of planned welfare cuts and injecting funds to boost much delayed infrastructure projects.

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AIM 2012 in Brief

The Annual Investment Meeting started on a strong note on the morning of May 1st, 2012 at the Dubai International Convention & Exhibition Center. Inaugurated by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of the Dubai International Financial Centre (DIFC) delivered more than expected.

Amidst powerful statements made during the Opening Ceremony on the status of FDI delivered by HE Rustam Minnikhanov, President of the Republic of Tatarstan, The Russian Federation and HE Zafer Caglayan, Minister of Economy of Turkey,many words of congratulations poured to thank Her Excellency Sheikha Lubna Bint Khalid Al Qasimi, UAE Minister of Foreign Trade for hosting the event.

In her introductory address, Sheikha Lubna Bint Khalid Al Qasimi recalled the world economic situation against which the prominence of the UAE in reenergizing trade and investments worldwide. “The UAE economic empowerment started with the exceptional leadership and strategic visions of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, Head of State, and his brother His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. Well-planned government guidelines and strategies, a competitive economy and an advanced trade status have also contributed to the UAE’s emergence as a bridge between East and West. Since then, it is worth noting that the UAE has highly committed to enhancing its resources through economic diversification and foreign investment promotion throughout the region. We have created and maintained in the Emirates a highly favorable business and investment climate. The efforts of these organizations have been instrumental in many of the UAE’s achievements, such as ranking 25th out of 139 countries in the Global Competitiveness Report issued by the World Economic Forum in 2010, 40 out of 183 countries in the Doing Business Report issued by the World Bank, and 1st among Arab countries and 16th worldwide in the Global Trade Enabling Report 2010 issued by the World Economic Forum.”

“The Annual Investment Meeting does not only matter for the region, this is an important global platform for FDI” said His Excellency Armen Gevorgyan, Deputy Prime Minister, Armenia. He centered his speech on the drastic policy and strategy changes Armenia is implementing now to keep ahead of the global race for competitiveness. “Education, science and technology–focused investments have become consequential and paramount to our long term economic strategy. The continuous shift in world economy changed and transformed the relationship between investors’ countries and the host economies.

HE Rustam Minnikhanov
President of the Republic of Tatarstan,
The Russian Federation

There is no doubt that this Forum will play an important role
in stimulating global investment and we were pleased
to participate in it.