BXB Blog: SME Insights and Trends

SME News

Brent Crude Oil down 14% on Virus Concerns…

In the UAE, non-oil sector GDP grew at just 1.1% last year – the slowest pace since at least 2011 – down from 2018’s 1.3%.

SME News

50 initiatives are underway to attract and support Small Businesses in UAE...

Achievements include Hub71 (the technology centre) with 39 startups, the Abu Dhabi Climate Initiative, the AED 535m Ventures Fund and so on.

SME News

Tourists into Saudi Arabia are forecast to rise by 38%…

CEOs in Saudi Arabia are upbeat about the domestic economy while remaining concerned about the global growth outlook, according to a KPMG survey of 50 CEOs.

SME News

UAE discovers 80trn cubic feet of Gas Reserves in Jebel Ali – the largest discovery in 15 years…

UAE discovered 80trn cubic feet of Gas Reserves in Jebel Ali – the 4th biggest gas field in the Middle East. It opens the potential to enter the LNG market.

SME News

The number of new Investors in Dubai accelerated by 86%…

The number of new investors in Dubai accelerated by 86% to more than 60,700 in different economic sectors during 2019, according to the DED.

SME News

DMCC reports 20% Q4 increase in New Company Registrations…

Dubai attracted a record-high 16.73mn international overnight visitors in 2019, rising by 5.1% YoY.

SME News

The US-China Phase 1 Trade Deal was signed last week...

Dubai announced the establishment of a “Dubai Future District” dedicated to the new economy, with ten initiatives to support it including an AED 1bn fund.

SME News

Iran abandons Nuclear Deal as US tensions escalate …

The Dubai 2020 budget estimates record spending of AED 66.4bn (USD 18.1bn), up 17% yoy; infrastructure spending is set to decline for a 2nd consecutive year, ahead of the Expo this year.

Dubai

Saudi Arabia’s PIF announced USD 1.07 Billion “Jada” Initiative to support SME’s ...

Abu Dhabi’s Non-Oil Trade declined by 8.8% yoy to AED 154.4 Billion (USD 42 Billion) in January-September 2019, as a result of a 12.7% decline in imports alongside a 14.8% dip in exports.

SME News

Aramco briefly hit the USD 2 Trillion Valuation …

The Dubai PMI fell to 53.5 in November (October: 54.6), with output growing at the softest rate since April 2016 and a slower rise in new orders.

SME News

UAE approved a Federal Law on the Insolvency of Natural Persons …

UAE approved a federal law on the insolvency of natural persons, to allow debtors to either settle their financial obligations through a court-approved payment plan or insolvency and the liquidation of their assets.

SME News

Bilateral Trade between Dubai and China posted 81% Growth …

The UAE Central Bank revealed a decline in Foreign Assets by 0.8% to AED 374.3bn (USD 101.9bn) in Q3 this year, largely resulting from an 84.8% decline in Foreign Securities.

SME News

Saudi Aramco issues its IPO Prospectus …

UAE announced the discovery of new hydrocarbon reserves estimated at 7 billion barrels of crude oil and 58 trillion standard cubic feet of conventional gas.

SME News

Saudi Crown Prince gave the Green Light for the Aramco IPO …

Total re-exports from the UAE amounted to AED 1.046t trillion over the past three years, together accounting for 1/4th of UAE’s total trade volume during the period.

SME News

UAE will levy Excise Tax on Electronic Smoking Devices, Tools and Sweetened Beverages from December 1 …

Banks need to send feedback on the UAE Central Bank’s proposed property lending caps to limit exposure to the real estate sector by October 31.

SME News

Dubai plans to offer a new long-term “Cultural Visa” …

UAE PMI slowed to a 9-year low but Dubai recorded a 135% yoy increase in FDI to AED 46.6bn in H1 this year.

SME News

Banks in Egypt have lent EGP 146bn (USD 8.93bn) to SMEs …

The logistics sector in UAE is expected to contribute 8% of GDP by 2021; last year, the sector’s gross output touched AED 219bn (USD 59.67bn).

SME News

UFC 242 boosts Businesses as Sales increase in Abu Dhabi ...

UAE’s non-oil private sector growth falls: PMI fell to an 8-year low of 51.6 in August (July: 55.1). The output growth rate was at its weakest in just over six years, while employment slipped to 49.9 in August (July: 50.5).

SME News

Egypt’s RiseUp acquires Saudi’s MENAbytes for an undisclosed sum …

UAE PMI fell to 55.1 in July, from June’s 57.7 and lower than Q2’s average of 58.2. Output prices were reduced for the tenth successive month. Consumer prices in Abu Dhabi fell by 1.1% mom and 1.4% yoy in July – the biggest drop since at least 2015 – after the housing and utilities sub-ind

SME News

Since 2014, China Continues to be Dubai’s Top Trade Partner …

Private sector employment in the UAE rebounded, rising by 1.2% in Q1vs a 0.6% drop in the previous quarter, supported by an acceleration in real estate sector jobs (+4.4% yoy), according to the UAE central bank.

SME News

Over 2,055 SMEs received support from the Government Agency Dubai SME in H1 …

UAE changes sponsorship rules: the new resolution allows expats to bring family members into the country.

SME News

Saudi's Misk to offer 15 MENA start-ups up to $1m …

The Dubai Economy Tracker index edged down to 58.4 in June (May: 58.5), with the employment sub-index remaining flat at 49.4.

SME News

UAE announced 100% foreign ownership in 122 economic activities …

UAE announced 100% foreign ownership in 122 economic activities across 13 sectors

SME News

UAE approves sectors eligible for 100% foreign ownership…

The UAE Cabinet has approved the sectors and economic activities eligible for up to 100 percent foreign ownership.

3 things that Guarantee Success and Failure in Sales

3 things that Guarantee Success and Failure in Sales