1 | Page www.indembassyuae.org OVERVIEW Dubai’s foreign trade soared three per cent in Q1 2015, hitting Dh331 billion compared to Dh323 billion in the same period of 2014. Imports had the lion share with Dh205 billion, while exports climbed to Dh32 billion and re-exports Dh94 billion. Dubai-based Hospitality Management Holdings (HMH) has said it is targeting emerging markets such as China and India as it looks to grow occupancy and revenues at its portfolio of hotels. The developer Sobha has become a stakeholder in a new investment management business set up to fund large-scale property projects in India. Abu Dhabi-based retailer LuLu Group International has bought London’s iconic Great Scotland Yard building in a $170m deal. Abu Dhabi-based VPS Healthcare Group is investing £150 million (Dh856m) on a cancer care hospital in London set to open in 2017. The UAE has been named as one of the top 10 markets for retailers in the world. The Retail Operations Index by the construction consultancy Arcadis found that the UAE was the eighth-most popular global location among international retailers – the highest in the Middle East. भारत का राजद ू तावास, अबू धाबी Embassy of India, Abu Dhabi ECONOMIC AND COMMERCIAL REPORT: JULY, 2015 Inside the issue • Dubai foreign trade in Q1 2015 grows 3% to Dh331 billion China, India, USA and KSA spearhead Dubai’s trade partners • Dubai's HMH targets China, India to offset 'market challenges • Sobha Group becomes partner in Indian property venture • LuLu group buys London’s Great Scotland Yard building for $170m • VPS Healthcare Group is investing £150 million (Dh856m) on a cancer care hospital in London • UAE now one of top 10 markets in the world for retailers
Transcript
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OVERVIEW
Dubai’s foreign trade soared three per cent in Q1
2015, hitting Dh331 billion compared to Dh323
billion in the same period of 2014. Imports had
the lion share with Dh205 billion, while exports
climbed to Dh32 billion and re-exports Dh94
billion. Dubai-based Hospitality Management
Holdings (HMH) has said it is targeting emerging
markets such as China and India as it looks to
grow occupancy and revenues at its portfolio of
hotels. The developer Sobha has become a
stakeholder in a new investment management
business set up to fund large-scale property
projects in India. Abu Dhabi-based retailer LuLu
Group International has bought London’s iconic
Great Scotland Yard building in a $170m deal. Abu
Dhabi-based VPS Healthcare Group is investing
£150 million (Dh856m) on a cancer care hospital
in London set to open in 2017. The UAE has been
named as one of the top 10 markets for retailers
in the world. The Retail Operations Index by the
construction consultancy Arcadis found that the UAE was the eighth-most popular
global location among international retailers – the highest in the Middle East.
भारत का राजदतूावास, अब ूधाबी
Embassy of India, Abu Dhabi
ECONOMIC AND COMMERCIAL REPORT: JULY, 2015
Inside the issue
• Dubai foreign trade in Q1
2015 grows 3% to Dh331
billion China, India, USA
and KSA spearhead
Dubai’s trade partners
• Dubai's HMH targets
China, India to offset
'market challenges
• Sobha Group becomes
partner in Indian
property venture
• LuLu group buys
London’s Great Scotland
Yard building for $170m
• VPS Healthcare Group is
investing £150 million
(Dh856m) on a cancer
care hospital in London
• UAE now one of top 10
markets in the world for
retailers
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INSIDE THE NATION
UAE moves towards enacting new
insolvency law.
The long-awaited new insolvency law has
taken a big step towards becoming a reality
after being approved by the Cabinet. Sheikh
Mohammed bin Rashid, Prime Minister and
Ruler of Dubai, said that the proposed draft
law includes flexible strategies to bail out
businesses that have encountered financial
troubles that might lead to bankruptcy. The
new law, is reported to be largely based on
French insolvency practices, drawing on a
number of provisions from German law, as
well as legal codes from countries such as
the Netherlands and Japan.
Lower oil prices drag on IPIC earnings
International Petroleum Investment
Company (Ipic), an Abu Dhabi government-
owned energy holding company, said last
year’s earnings fell by 29 per cent, mainly
on lower oil prices. Ipic, which owns or
holds stakes in nearly two dozen domestic
and international companies, said that
revenues for last year fell by 3 per cent to
Dh188 billion, with lower oil prices partially
offset by revenue from new acquisitions.
Earnings were down to Dh5.6bn, compared
to Dh7.9bn a year earlier, and would have
been lower had it not been for foreign
exchange gains. The company valued total
assets at Dh243.5bn, down from Dh251.2bn
at the end of 2013.
DCCI strengthens leadership in IT sector.
Demonstrating its commitment to offering a
reliable IT service and infrastructure to
employees and customers, the Dubai
Chamber of Commerce and Industry (DCCI)
has been awarded ISO/IEC 20000 -1:2011
certification from French classification
organisation Bureau Veritas. After a
successful completion of a certification
audit, Dubai Chamber has been awarded
the ISO/IEC 20000-1:2011 for its effective
overall IT service level management
standards including reporting, budgeting
and accounting for IT services as well as
information security, supplier, incident,
change and release management.
Ajman Chamber to enhance cooperation
with all countries.
The Ajman Chamber of Commerce and
Industry (ACCI) organised the annual
diplomatic Majlis in presence of a number
of consuls and representatives of countries.
The meeting comes within the Chamber’s
keenness on enhancing and strengthening
the foreign cooperation with all countries,
in addition to discussing opening new
markets for the emirate’s investors.
Weaker industrial output in Abu Dhabi
signals slowing economic growth.
The industrial production index dipped 0.5
per cent in the first quarter from the same
period last year. It was led by weaker
activities in transport equipment and paper
manufacturing, which both shrank more
than 60 per cent. The index is a measure of
manufacturing output that Statistics Centre
Abu Dhabi publishes quarterly. The value of
construction projects in Abu Dhabi awarded
in the first three months fell significantly
from the previous quarter, according to
data published by Abu Dhabi Commercial
Bank. But the bank said that US$25 billion
of new projects were set to be awarded in
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the second quarter, up from the $8bn
confirmed for the first quarter.
UAE banks remain best performers in the
GCC.
UAE banks continue to dominate the
rankings, providing six of the top ten ranked
banks. Saudi Arabia provided two of the
other top ten, with Bahrain and Qatar
contributing one each. These four countries
also provided Sharjah’s Invest bank was the
best performing commercial bank in the
GCC for the second year in a row in 2014,
according to a survey.
Dubai foreign trade in Q1 2015 grows 3%
to Dh331 billion China, India, USA and KSA
spearhead Dubai’s trade partners
Dubai’s foreign trade soared three per cent
in Q1 2015, hitting Dh331 billion compared
to Dh323 billion in the same period of 2014.
The growth is attributed to the emirate’s
heavy investment in its infrastructure,
which has significantly enhanced its
attractiveness to international businesses.
Imports had the lion share with Dh205
billion, while exports climbed to Dh32
billion and re-exports Dh94 billion. China
was Dubai’s premier trade partner, with
Dh47 billion worth of goods traded
between them. India turned second with
trade value totalling Dh24.7 billion. The USA
followed with Dh19.5 billion and KSA came
in fourth with a trade value of Dh17.1
billion.
ADFD inks partnership agreement with
Emirates Foundation
The Emirates Foundation for Youth
Development has signed a partnership
agreement with the Abu Dhabi Fund for
Development (ADFD) to strengthen
initiatives aimed at empowering, guiding
and inspiring Emirati youth to build a better
future for their homeland. The agreement
will see ADFD provide financial and strategic
support for Emirates Foundation
programmes and open the way for the two
organisations to share knowledge and
experience to promote and progress youth
development across the UAE.
Automotive industry in ME booming
The Middle East’s love for all things
automotive shows no sign of slowing down
with booming car sales across the region
also reflected in the rapid growth and
global interest in this year’s Dubai
International Motor Show (DIMS), which
returns in November. Underlining its
position as the largest international
automotive event in the Middle East,
organisers of the 13th Dubai International
Motor Show have received unprecedented
interest from the leading names in the
automotive world.
UAE now one of top 10 markets in the
world for retailers
The UAE has been named as one of the top
10 markets for retailers in the world. The
Retail Operations Index by the construction
consultancy Arcadis found that the UAE was
the eighth-most popular global location
among international retailers – the highest
in the Middle East. The index was based on
five key criteria: quality of infrastructure;
market demand; the economic
environment; the ease of setting up
(including business freedoms); and the ease
of operating in a country.
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GCC food industries’ investments
bordering on 24 billion USD in 2014
The Gulf Organization for Industrial
Consulting (GOIC) announced that the
number of factories operating in the GCC
food industries sector increased from 1606
in 2010 to 1965 in 2014, a compound
annual growth rate (CAGR) of 5.2%. During
the same period, investments jumped from
13688 million USD to 23757 million USD, a
five-year CAGR of 14.8%, while the labour
force increased from 159613 workers to
238825 workers, a CAGR of 10.6%.
UAE logistics market to be worth $27b
Sustained growth across key economic
sectors such as FMCG, retail,
pharmaceuticals, oil and gas, automotive
and logistics is fuelling demand for high
quality materials handling products and
services across the Middle East. The UAE
logistics market alone is expected to be
worth $27 billion in 2015, up 15 per cent
from 2013, thanks to strong import and
export figures as well as an uptick in local
manufacturing, according to global analysts
Frost & Sullivan.
Emaar Malls records 37% growth in H1
Emaar Malls, the shopping malls and retail
business majority-owned by global property
developer Emaar Properties, recorded a 37
per cent growth in net profit during the first
six months of 2015 to Dhs845 million ($230
million), compared to the same period in
2014. Revenue for half-year 2015 was
Dhs1.462 billion ($398 million), 16 per cent
higher compared to the same period last
year. Tenant sales across all Emaar Malls
assets were Dhs9.6 billion ($2.6 billion)
almost similar to last year retail sales
performance. Emaar Malls, which includes
The Dubai Mall, its flagship mall and the
world’s largest retail and entertainment
destination, welcomed over 62 million
visitors during the first six months of 2015,
11 per cent higher than during the same
period last year.
Dubai's HMH targets China, India to offset
'market challenges'
Dubai-based Hospitality Management
Holdings (HMH) has said it is targeting
emerging markets such as China and India
as it looks to grow occupancy and revenues
at its portfolio of hotels. The hotel operator,
the first in the Middle East to offer halal-
friendly, alcohol-free properties, said it
performed strongly during the first half of
2015 despite "various market challenges".
Inbound FDI rises 25% at $13 billion in
2014
The UAE accounted for an “overwhelming
bulk” of outbound capital investment from
the GCC, spending an estimated $20 billion
in 2014, more than six times its fellow GCC
members combined. According to data
released by fDi Markets, GCC outbound
foreign direct investment, or FDI, to 15
countries in 2014 increased slightly by
number of projects but saw a decline in
capital expenditure to an estimated $22
billion. Globally, FDI flows fell by eight per
cent in 2014 to reach $1.3 trillion, down
from $1.4 trillion in 2013 amid slowing
economic growth. In 2014, the inbound FDI
into the UAE, which remains as the top
investment destination in the Middle East,
rose by 25 per cent to reach $13 billion, but
fell short of the $14.4 billion forecast,
according to UAE’s minister of Economy
Sultan Saeed.
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Dubai appoints US firm for new Creek
crossing
Dubai’s Roads & Transport Authority (RTA)
has appointed US-based Parsons
International as the engineering consultant
for the Shindagha corridor scheme. The US
firm will complete the preliminary concept
and design, prepare tender documentation
and supervise the construction of the
project, which includes a signature bridge
across the entrance to the Dubai Creek, a
12 lane expressway and various
intersections in Deira and Bur Dubai.
UAE retenders Etihad Railway project
management
Etihad Rail has invited consultants to
resubmit offers for the project management
of the second phase of the UAE’s federal
rail network. The second phase of the
Etihad Railway network had previously
included a link to Al-Ain that would connect
to the Omani rail network, with a link
running from Buraimi and onto Sohar. It is
understood this section of the railway has
now been removed from the second phase.
Value of UAE construction sector tops 2008
peak
The UAE’s construction sector in 2014
topped the peak it achieved in 2008, with a
production value of AED295bn ($80bn). In
2008, which was the peak of Dubai’s and
Abu Dhabi’s real estate boom, the
production value for the construction sector
reached AED292bn. The statistics for 2014,
compiled by the National Bureau of
Statistics, were revealed by UAE Vice-
President and Prime Minister and ruler of
Dubai Sheikh Mohammed bin Rashid al-
Maktoum, who highlighted the fact that the
value of the construction sector in 2014 was
almost double the AED155bn it was worth
when he took charge of the UAE cabinet in
2006.
Limitless to pay debts early as part of
restructuring
Dubai-based developer Limitless will pay
AED2.07bn ($563.6m) to banks and trade
creditors as part of its revised financial
restructuring. Limitless is in negotiations
with its banks to agree on new terms and
conditions for the repayment of the
remaining debt and requires the banks to
agree to an extension of period to
December 2018. It says almost 90 per cent
of the banks agreed to the revised terms.
There are 18 banks involved in the
restructuring; about 60 per cent of the bank
loans were provided by local banks. The
repayment of AED1.9bn in bank debt will
include an early payment of AED411m that
is due in December 2015.
BILATERAL RELATIONS
Trade Promotional Activities.
The Embassy disseminated information on
the Buyer Seller Meets/Reverse BSMs being
organized by Export Promotion
Councils/Trade Bodies in India and
facilitated participation of interested
companies in these events.
Healthcare destination Medeor opens in
Abu Dhabi
Medeor 24x7 Hospital, a multi-specialty
family hospital located in the heart of Abu
Dhabi, opened its facilities on July 7, 2015
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to residents of the capital, offering an
unparalleled patient-centric healthcare
experience and access to a team of
healthcare professionals with the very best
in medical knowledge and expertise. The
hospital is committed to meeting the
current and future needs of the local
community with world-class multi-specialty
healthcare services.
Sobha Group becomes partner in Indian
property venture
The developer Sobha has become a
stakeholder in a new investment
management business set up to fund large-
scale property projects in India. Sobha’s
founder, PNC Menon, has also become a
director of RootCorp, a company set up
alongside the Indian finance house Nichani
Group and property consultancy Savills. It
aims to take advantage of recent market
liberalisation in India, allowing investment
in large-scale property projects by funds,
and is targeting institutional investors from
the Middle East and Europe. Its first fund,
the India Debt and Yield Opportunities
Fund, will invest stakes of up to 30 per cent
in certain projects, and is aiming for returns
on investment of 20 per cent.
Invest on new London cancer care hospital
Abu Dhabi-based VPS Healthcare Group is
investing £150 million (Dh856m) on a
cancer care hospital in London set to open
in 2017. The 150-bed hospital will occupy a
historic grade II-listed property that was the
former home of Royal Masonic Hospital,
which became the Ravenscourt Park
Hospital in 2002, but closed down in 2006.
VPS, however, will retain the name
Ravenscourt Park Hospital. It would be the
first private hospital in the UK to offer the
proton beam therapy, a kind of
radiotherapy, used in cancer treatment.
LuLu group buys London’s Great Scotland
Yard building for $170m
Abu Dhabi-based retailer LuLu Group
International has bought London’s iconic
Great Scotland Yard building in a $170m
deal. The deal was struck with London-
based developer Galliard Homes and is the
second investment in London by LuLu
group’s managing director and Indian
businessman Yusuffali MA. He also invested
in the East India Company last year.
Gulf region can become top export
destination for Indian pharma exporters
Medicine markets in the gulf countries have
huge potential for Indian drugs and the
region can become the top export
destination for Indian pharma exporters,
according to Dr. Vinay Deshmukh, director,
Regulatory and International Affairs,
Sarkone LIfesciences, Ras Al Khaimah, UAE.
There is considerable potential to expand
shipments of medicines from India. Those
who want to export their products from
India can find new export markets in the
UAE as majority of the population in the
United Arab Emirates has a liking for Indian
made medicines. UAE can become a top
buyer of Indian generic or off-patent
medicines, he added.
Dubai based billionaire Sunny Varkey in
talks to buy stake in Versity Education
Dubai based billioner Sunny Varkey, who
leads GEMS Education, is in talks to buy
stake in India's Versity Education
Management. Private Equity Fund New Silk
Route (NSR) that had bought 28% stake in
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Versity Education for around $30 million in
2012 is the seller, two sources close to the
deal developments told ET. Varkey is a non-
resident Indian and his Gems Education is
the largest operator of private
kindergarten- to-grade-12 schools in the
world, with 50 schools and 140,000
students across the Middle East, Africa,
Europe, Asia and North America.
Dubai's Emaar says committed to projects
in India
Dubai's Emaar Properties said, it was
committed to its projects in India through
its joint venture Emaar MGF Land, and that
India was a key market for Emaar. Its
statement followed a report in India's
Economic Times which quoted unnamed
sources as saying Emaar was close to ending
its decade-old joint venture with Indian firm
MGF Developments.
Trade Enquiries.
A total of 71 trade enquiries were received
during the month in the Embassy in Abu
Dhabi and the Consulate General of India in
Dubai.
Trade Disputes.
No trade dispute has been received during
the month.
MARKET WATCH
Apicorp may issue first of $3 billion sukuk
in 2015
Arab Petroleum Investments Corporation
announced that it could issue its first sukuk
later this year as part of its recently-
established $3 billion programme aimed at
diversifying its sources of funding. The
company, known as Apicorp, said in a
statement that the sukuk programme
marked a strategic step for the investment
company as it seeks to become a regular
issuer of sukuk in global markets, and would
position the company’s credit alongside its
multilateral development banks peers.
Etihad Airways chooses Okta to provide
identity management services in the cloud
Etihad Airways and Okta announced a
strategic technology partnership to
integrate Okta’s identity and access
management platform into the airline’s
existing security infrastructure. This
partnership will enable the airline to
oversee its global data network of
customers, employees and partners in the
cloud. The multimillion dollar deal comes as
an integral part of Etihad Airways’
technology and innovation strategy to
further strengthen its architecture and
security through strategic partners. It will
enable the airline to easily authenticate,
federate, manage and secure user access to
its growing list of cloud and mobile
services.
DWC targets China to attract foreign
investments
Business Park Free Zone, part of Dubai
World Central (DWC), announced it has
concluded meeting with companies in
China, in a bid to attract foreign investment.
The delegation from DWC’s Business Park
visited three Chinese cities, including
Beijing, Chengdu and Taiyuan. The meetings
were facilitated by LPT Management
Consultancy. Business Park held meetings
with companies from China’s perishables,
logistics and general trading sectors, which
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are keen on expanding their operations in
the Middle East, North Africa (MENA) and
South Asia region, according to Paolo Serra,
vice president of Business Park.
Dubai FDI partners with BCB initiative of
UK
The partnership between Dubai Investment
Development Agency (Dubai FDI), an agency
of the Department of Economic
Development (DED), and the British Centres
for Business (BCB) initiative of the UK
Government has seen UK-based Fourth, an
acclaimed technology solutions provider for
the hospitality industry, strengthening their
presence in Dubai as part of global
expansion plans.
Dubai Silicon Oasis and SAP Training and
Development Institute join hands to
support tech start-ups
Dubai Silicon Oasis Authority, DSOA, the
regulatory body for Dubai Silicon Oasis,
DSO, the integrated free zone technology
park, signed a sponsorship agreement with
SAP Training and Development Institute,
appointing the firm as a non-exclusive
sponsor of DSOA’s wholly owned Dubai
Technology Entrepreneurship Centre, DTEC.
ADIA in the hunt for $6.7bn Australian
property portfolio
The Abu Dhabi Investment Authority (Adia)
is among the bidders for a US$6.7 billion
Australian property portfolio. The sovereign
wealth fund is understood to be bidding
with Dexus Property Group for the real
estate being sold by Morgan Stanley’s
Investa Property Group. Blackstone Group
and Brookfield Asset Management are also
among the bidders. Other bidders include
LaSalle Investment Management with China
Investment Corporation and Cromwell
Property Group with Redefine Properties.
Dubai-China trade at Dhs47b in Q1
China is well positioned as Dubai’s top
trading partner, with bilateral trade volume
valued at Dhs47 billion in the first quarter of
2015, Director of Dubai Customs, Ahmed
Mahboob Musabih, revealed following a
business meeting with Consul General of
China in Dubai, Li Lingbing. Musabih hailed
the exceptional UAE-China commercial
relations, noting that Dubai-China trade
scored a record Dhs175 billion in 2014. The
two sides explored Dubai-China bilateral
trade ties and discussed mechanisms for
further coordination in Customs operations
to see more growth and prosperity in their
mutual trade.
Investcorp acquires majority stake in NDT
Corrosion
Investcorp, a global provider and manager
of alternative investment products, said it
has completed the acquisition of a majority
stake in NDT Corrosion Control Services, the
largest testing services company for the
industrial sector in Saudi Arabia. Investcorp
acquired the stake in NDT CCS from the Al
Shuwayer Group, which founded the
Company in 1975 and retains a minority
stake alongside Investcorp. NDT CCS, which
also has operations in the UAE and licences
to operate in Kuwait and Qatar, provides
non-destructive testing (NDT) services for a
range of industrial sectors including oil and
gas, petrochemicals, mining, nuclear and
utilities.
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5 TOTAL TRADE 66,575.55 72,681.84 75,455.01 59,540.24 59,042.53
6 %Growth 53.15 9.17 3.82 -21 -0.84
7 TRADE BALANCE
1,069.22 -830.80 -2,821.71 1,500.00 7,025.67
Source : Dept. of Commerce, Govt. of India
India’s top 10 Exports to UAE:
Values in US$ Million
S. No.
HS Code
Commodity 2013-2014 2014-2015
1 71 Natural or cultured pearls, precious or semiprecious stones, pre.-metals,clad with pre-metal and articles thereof; imitation jewellery ;coin.
12,778.80 12,280.37
2 27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes.
5,039.94 6,525.72
3 62 Articles of apparel and clothing accessories, not knitted or crocheted.
947.94 1,507.56
4 89 Ships, boats and floating structures. 1,068.58 1,181.39
5 61 Articles of apparel and clothing accessories, knitted or corcheted.
789.86 1,142.70
6 88 Aircraft, spacecraft, and parts thereof. 1,060.36 1,068.95
7 84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof.
637.27 711.47
2
8 73 Articles of iron or steel 791.22 701.71
9 72 Iron and steel 528.18 641.6
10 85 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers and parts.
1,035.73 615.73
India’s total exports to UAE 30,520.42 33,034.10
India’s top 10 Imports from UAE
Values in US$ Million
S. No.
Hs code
Commodity 2013-2014 2014-2015
1 27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes.
13,263.35 13,379.83
2 71 Natural or cultured pearls, precious or semiprecious stones, pre.-metals,clad with pre-metal and articles thereof; imitation jewellery ;coin.
11,899.69 8,795.43
3 74 Copper and articles thereof. 681.13 638.7
4 72 Iron and steel 460.79 572.48
5 76 Aluminium and articles thereof. 427.76 502.26
6 39 Plastic and articles thereof. 341.23 479.21
7 25 Salt; sulphur; earths and stone; plastering materials, lime and cement.
308.18 312.45
8 89 Ships, boats and floating structures. 569.55 243.35
9 15 Animal or vegetable fats and oils and their cleavage products; pre. Edible fats; animal or vegetable waxex.
68.04 217.04
10 85 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers,and parts.
75.03 105.74
India’s total imports from UAE 29,019.82 26,008.43
Source : Department of Commerce, Govt. of India.
3
UAE’s total non-oil trade for the year 2014 UAE’s Trade Value (US$ Billion) India’s share Total Imports 189.76 9.19% Total Non Oil Exports 36.03 14.86% Total Re-exports 66.41 8.73% Total Trade 292.20 9.78%
GDP Nominal GDP (US$ m) 286,049 347,454 372,314 402,285 419,660 396,962 421,790 Nominal GDP (Dh m) 1,050,516 1,276,025 1,367,323 1,477,594 1,541,413 1,458,041 1,549,235 Real GDP growth (%) 1.6 4.9 4.7 5.2 4.6 3.2 3.4 Origin of GDP (% real change)
Agriculture -10.5 0.2 -5.5 -1.2 0.1 0.1 0.1
Industry 2.6 5.4 4.6 4.2 3.5 2.2 2.3
Services 0.7 4.4 4.9 6.5 6 4.4 4.7 Population and income
Population (m) 6.7[b] 7.1[b] 7.5[b] 7.9[b] 8.4 8.9 9.3 GDP per head (US$ at PPP) 69,612[b] 70,882[b] 71,432[b] 71,980[b] 71,816 71,242 71,126 Fiscal indicators (% of GDP) Consolidated government revenue 29.8 34.6 36.1 34.6[b] 31.9 25.7 27 Consolidated government expenditure 32 30.4 27.4 28.0[b] 27.9 30.5 29.9 Consolidated government balance -2.2 4.1 8.8 6.6[b] 4.1 -4.8 -3
Net public debt 53.2[b] 45.1[b] 44.7[b] 44.5[b] 45 48.1 46.4 Prices and financial indicators Exchange rate Dh:US$ (end-period) 3.67 3.67 3.67 3.67 3.67[a] 3.67 3.67
Trade enquiries from India for the month of July 2015 received by the Consulate
General of India in Dubai
No. Name Inquiry
1 Bharat Export Line Agro
2 PG & Company Agro
3 Fortune Idea Fab Agro & Textile
4 Hana International Exporter Leather Goods
5 Laxmi Industries Spices
6 National Buildings Construction Coorporation
Construction
7 Trilok Steels Steel
8 Ardent Exim Tiles
9 Abhinav Overseas Hardware
10 Jain Exports Agro
11 Ratnodip Sinha Garments & Handicrafts
12 Morgain Industries Cosmetics & Perfume
13 Flexo Industry Agro
14 Unique Stone Stones
15 VSK Internationals Agro & Spices
16 SN Exports Perfume
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Seafood
Agro
Tea & Coffee
Spices
Silver & Costume Jewellary & Handicrafts
17 Neo Tech Cosmetics & Cleaning Agents
18 Sri Parvathi Exports Agro, Textile & Spices
19 Galaxy Traders & Exporters Marble & Granite
20 Jesdavis Enterprise Agro & Spices
21 Jainik Enterprise Oil & Gas, Electrical & Chemical
22 Agar Exports Agro & Garments
23 JB Enterprise Aluminium
24 Udit Prasana Agro
25 Ajit Asher Agro, Leather, Garments & Gift Items
26 VR Healthcare Pharma
27 SSS Export Agency Spices & Imitation Jewellary
28 J & P Exports Textile - Garments, Garbage Bags & Electric Switches - Sockets
29 Anu International Textile
30 PKL Enterprise Rice
31 Salgram Bhoorchand Chemicals
32 Indian Granite Export Granite & Tiles
Trade enquiries from UAE for the month of July 2015 received by the Consulate General of India in Dubai
No. Name of Complainant Name of the Complainee
1 M T Industries Mr. Jassim, Jasim Ahli Trading
List of all the Indian Business Councils in UAE
Mr. Mohan Jashanmal Chairman Indian Business/ Professional Group P.O. Box : 316 Abu Dhabi(UAE) Tel : 00971 2 6335569 Fax : 00971 2 6338322 E-mail : [email protected]
Mr. Paras Shahdadpuri President Indian Business & Professional Council
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P.O. Box No. 25414 Dubai (UAE) Tel : 00 9714 3324300 Fax : 00 9714 3325655 E-mail : [email protected] Website : www.ibpcdubai.com Mr. Sudesh Aggarwal Chairman Indian Business & Professional Council PO Box : 28336 Sharjah (UAE) Tel : 00 9716 5696110 Fax : 00 9716 5696119 E-mail : [email protected] Website : www.ibpc.org.ae Adv. Sunny Varughese President Indian Business & Professional Council PO Box : 31291 Ras Al Khaimah, U. A. E. E-mail : [email protected] Mr. Sudesh K Aggarwal Chairman India Trade & Exhibition Centre PO Box 66301, Sharjah Tel: 00 9716 5304404, Fax: 00 9716 5304403, Email: [email protected] Website : www.itecuae.com
Exhibitions in Abu Dhabi
07 - 28 Jul
Ramadan and Eid Festival 2015
01 - 04 Sep
Chic Lady 2015
09 - 12 Sep
Abu Dhabi International Hunting and Equestrian Exhibition 2015
10 - 21 Sep
Eid al-Adha Exhibition 2015
01 - 03 Oct
Arab Carpet Expo incorporating Arab Flooring Expo, Yarn & Fiber Expo and the International
Green Carpet & Flooring Conference 2015
04 -06 Oct
Power-Gen Middle East & WaterWorld Middle East 2015
05 Oct- 07 Dec
IOF Regionals 3rd
Middle East and Africa Osteoporosis Meeting 2015
19 - 21 Oct
World Halal Travel Summit 2015
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20 - 22 Oct
Taweya 2015
27 - 29 Oct
Najah Education & Training 2015
31 Oct- 02 Nov
Arab Health Recruitment & Training Fair 2015
01 - 04 Dec
Abu Dhabi International Flower and Garden Exhibition (Zuhoor 2015)
