The Country Insights section of the Resource Desk introduces the Featured Country segment this month. This resource provides a more in-depth look into the newsletter's featured country by providing a synopsis of recent events that have occurred in the featured country, as well as additional links. Also, be sure to check out the extensive database of country information, which covers a wide array of statistics and knowledge, including everything from historical reference to currency conversion. This month, let globalEDGE help you learn new things and keep up-to-date with global events!
The United Arab Emirates (UAE) is the ideal candidate for business growth. With a population of over 5 million, an annual population growth of 6.9%, and a capital city (Abu Dhabi) whose population is expected to hit at least 1.25 million by 2020, the UAE is one of the fastest growing nations in the world. The liberal trade and financial policies, economic diversification, and sophisticated physical infrastructure make the UAE an attractive nation to conduct business in.
Although the UAE has successfully found growth within its own nation, much of its success can be linked to regional and global environments. The beneficial trade conditions between the UAE and other nations will soon lead to freer access to key markets, quicker technological transfers, and a boost in domestic industrial growth. The economic outlook for the UAE includes growth in both the oil and non-oil sectors, but the UAE hopes to become less dependent on oil and gas revenues.
Learn more about United Arab Emirates on globalEDGE Country Insights.
This month's poll question is:
"The UAE highlighted a general trend in world economics as it chose to shift 10% of its foreign reserves from U.S. Dollars to Euros. As countries begin to hold less foreign reserves in Dollars, will the U.S. economy be hurt?"
Please view our homepage to vote on this month's poll question.
GCC States 'Must Shift to Bonds to Finance Infrastructure Projects'
MENA Financial Network News (March 14, 2006)
http://www.menafn.com/qn_news_story_s.asp?StoryId=128962
With extensive infrastructure development on the horizon, the Gulf Cooperation Council (GCC) urged governments to shift to bonds to establish more suitable funding for these long-term projects. The move will add needed depth to the bond market as well as help to diversify bank funds. Gulf governments have benefited from available surpluses and low government debt recently, but the long-term nature of the infrastructure projects has increased the need for other funding options.
UAE Mulls Ten Percent Euro Reserves
Khaleej Times (March 13, 2006)
http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/business/2006/March/business_March268.xml§ion=business&col=
As the country plans to hedge its currency exposure, the UAE is considering a plan to switch 10 percent of its foreign currency reserves to the Euro from the US dollar. Though a decision is yet to be made, the impact of high oil revenues, massive investments and development projects have continued to improve GDP growth estimates, which are currently around 8 percent. The housing market also remains strong with a substantial number of under construction housing units helping to hold inflation around 4 percent.
View more News on globalEDGE.
Oil and Petrol
The Guardian (March 14, 2006)
http://www.guardian.co.uk/oil/0,,608464,00.html
The Guardian has composed a special report titled, "Oil and Petrol." The report contains a number of articles pertaining to oil consumption, new oil field discoveries, products that conserve oil, and many more items. Articles are continuously added to the report as they are written. Also contained within the special report are interactive guides on such topics as "Arctic Oil Exploration" and "Conflict with Iraq-Oil Reserves." In addition, links are provided for oil-producing nations and the major corporations within the oil industry.
Making China Your Second Home Market
The McKinsey Quarterly (March 7, 2006)
http://www.mckinseyquarterly.com/article_abstract_visitor.aspx?ar=1729&L2=21&L3=34
Many companies are now targeting China as a second home market. Companies within both the European Union (EU) and the United States are looking to set up operations in China as consumer demand is growing at an increasingly rapid rate. In addition, China offers low wages that allow companies to sell some of the Chinese output around the world while selling products locally at a considerable markup. (Free registration is required to view this article.)
View more In Depth Look articles on globalEDGE.
A sample of some of our recently added sites:
United Arab Emirates: National News of United Arab Emirates
http://www.gulfnews.com/nation/index.html
A sub-website of Gulfnews, a Dubai based media publishing plant, provides wide news coverage of the UAE, including politics, health, employment, leisure, traffic and transportation, and society. It also provides editorials on some popular topics.
Country: United Arab Emirates
Canada: International Trade Canada
http://www.itcan-cican.gc.ca/menu-en.asp
This is the official website of the International Trade Department of Canada. It provides information about the department, its services to Canadian and Non-Canadian businesses, trade and economic policies of Canada, Canada's relationship with some emerging markets in the world, and the department's representatives worldwide. The website can be viewed in both English and French.
Category: Research: Government Resources
Country: Canada
Taiwan: Ministry of Economic Affairs
http://investintaiwan.nat.gov.tw/en/
This site is the official website of the Industrial Development and Investment Center within the Ministry of Economic Affairs. Information about investment opportunities, the investment environment, and various possibilities are listed on the site.
Category: Trade: Trade Portals
View more recently added sites on globalEDGE.
Society for Human Resource Management (SHRM)
http://www.shrm.org/
The largest professional organization dedicated to human resource management in the world, the Society for Human Resource Management (SHRM) provides comprehensive knowledge, tools, news, conference, and services to over 200,000 members. Not only does the SHRM cater to the needs of human resource professionals, but it also desires to make human resource management a driving force in formulating and implementing organizational strategies.
Category: Professional Organizations
GLO-BUS
http://www.glo-bus.com/
GLO-BUS is an online exercise where teams of students run a digital camera company in head-to-head competition against companies run by other class members. Companies compete in a global market arena by selling digital cameras in four geographic regions. Students must make decisions relating to all aspects of operations including R&D, product line selections, production, outsourcing, pricing, marketing, and finance.
Category: Exercises And Simulations
View more Academy Resources on globalEDGE.
Featured Discussion: UAE's Growing Economy
With its recent popularity in the national press, the UAE has been given considerable attention by businesses both here and abroad. Recent reports from the country show outstanding GDP growth and relatively low inflation levels. As oil continues to surge in price, the UAE has seen healthy levels of export as they continue to build the infrastructure required for future growth. Imports have seen a marked increase in manufactured goods, machinery, and transportation equipment to support the investment in new seaports, airports and power plants. The UAE continues to evaluate free trade agreements with countries around the globe in hopes of encouraging additional foreign investment and trade.
What's next for the UAE? Can oil alone support their demands for future growth? What might free trade bring to the country? Has your business been successful in interacting with the UAE?
Join our online community to discuss this and many other current business topics!
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