{"id":87617,"date":"2023-12-26T00:00:00","date_gmt":"2023-12-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/uae-is-the-most-competitive-arab-economy-amf-says-plus-happy-boxing-day\/"},"modified":"2023-12-26T00:00:00","modified_gmt":"2023-12-26T00:00:00","slug":"uae-is-the-most-competitive-arab-economy-amf-says-plus-happy-boxing-day","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2023\/12\/26\/uae-is-the-most-competitive-arab-economy-amf-says-plus-happy-boxing-day\/","title":{"rendered":"UAE is the most competitive Arab economy, AMF says. Plus: Happy Boxing Day"},"content":{"rendered":"

Good morning, ladies and gentlemen, and happy Boxing Day <\/strong>(to our British, Canadian, Aussie, and Kiwi readers) and St. Stephen\u2019s Day <\/strong>(to our Irish friends). <\/p>\n

How slow a news day <\/strong>is it<\/strong>? <\/strong>Let\u2019s put it to you this way: It\u2019s news that the Environment Agency of Abu Dhabi has added eight species of wasps to its database. <\/p>\n

No, not those WASPs\u2026 <\/strong>The invertebrates, known as Digger Wasps, were caught earlier this year with malaise traps in Al Wathba Wetland Reserve and Al Bida, Barqa Saqoor, and Houbara Protected Areas, per the Abu Dhabi Media Office<\/a>.<\/p>\n

Sound smart- <\/strong>Digger wasps are solitary invertebrates whose females lay eggs on paralyzed insects to ensure food is available for their young once they hatch. After the larvae feed and emerge from the nest as adults, they seek out a female mate to prepare a nest for their eggs. Don\u2019t tell us we\u2019ve never taught you something new\u2026<\/strong><\/p>\n

\n

\n

THE BIG STORY here at home this morning is the UAE maintaining pole position in the <\/strong>Arab Monetary Fund\u2019s latest Arab Economic Competitiveness Index<\/strong>, underpinned by strong macroeconomic performance and investment appeal for business. We have the rundown in this morning\u2019s news well, below. <\/p>\n

** You\u2019re reading Zero Issue #20 of EnterpriseAM UAE. <\/strong><\/p>\n

** Think of a zero issue as a \u201cbeta.\u201d<\/strong> This issue has not been published or distributed to a wide audience. <\/p>\n

** Did you receive this as a forward?<\/strong> Email editorial@enterprisemea.com and let us know if you\u2019d like to be added to our list of beta readers ahead of our launch.<\/p>\n

** Have a comment, criticism, or story tip? <\/strong>Hit up patrick@enterprisemea.com<\/a>. <\/p>\n

PUBLIC SERVICE ANNOUNCEMENTS-<\/p>\n

<\/a> #1- The taxman is coming:<\/strong> You\u2019re going to want to check out the Federal Tax Authority\u2019s (FTA) tax guide<\/a> if you think there\u2019s a chance you\u2019ll do AED 1 mn or more in business in the UAE next year as a private individual, state news agency Wam<\/a> writes. The guide is designed to help individual residents sort out their tax status before the new year starts. Both residents and non-residents with permanent businesses in the Emirates are subject to tax if their turnover exceeds AED 1 mn in 2024. <\/p>\n

The exemptions: <\/strong>Income from wages, real estate investment, or personal investments.<\/p>\n

#2- Leave early for the airport if you\u2019re traveling \u2014 and make New Year\u2019s Eve plans now: <\/strong>Dubai International Airport anticipates 4.4 mn arrivals between 15 and 31 December, while Etihad Airways projects 1.4 mn travelers in December, Wam<\/a> reports. Hotel occupancy rates have also skyrocketed since mid-December, and full occupancy is expected on New Year's Eve. <\/p>\n

<\/a> #3- Dubai\u2019s Emirates Road is <\/strong>closed<\/a><\/strong> from Expo Road to Al Fayah Truck Road <\/strong>in both directions thanks to flooding. The RTA pointed to Sheikh Mohammed bin Zayed Road as an alternative route to Dubai or Expo Road if your destination is Abu Dhabi.<\/p>\n

\n

DATA POINT- <\/p>\n

<\/a> Institutional investors poured into domestic stocks this year: <\/strong>Institutional investors purchased some AED 7 bn (USD 1.9 bn) worth of domestic stocks in 2023, making them responsible for nearly 78% of total trading activity on Abu Dhabi and Dubai markets year-to-date, Wam<\/a> reports. The bulk of the share purchases was concentrated on the ADX, with a net institutional investor purchase of around AED 6.1 bn. The DFM made up the other AED 808.1 mn. <\/p>\n

<\/a> Data point in the making <\/strong>on consumer<\/strong> spending:<\/strong>The Federal Competitiveness and Statistics Center (FCSC) will carry out a year-long survey of the spending habits of 19k families, according to a Community Development Ministry statement<\/a>. The poll will compare families\u2019 income with expenditure. The survey will produce \u201ca series of data and indicators related to the lifestyle of families from both economic and social perspective.\u201d<\/p>\n

\n

HAPPENING THIS WEEK-<\/p>\n

<\/a> #1- The Sharjah Consultative Council will kick off its regular session <\/strong>on Thursday<\/strong> to discuss the Emirate\u2019s budget for the upcoming fiscal year, Sharjah24<\/a> reports. <\/p>\n

#2- Catch another KPL Art Hub exhibition: <\/strong>Abu Dhabi\u2019s Maktaba<\/a> opened an art exhibition at Khalifa Park Library. The exhibition, which runs until January 14, 2024, includes the artwork of 60 emerging local and regional artists, Zawya<\/a> reports. <\/p>\n

\n

THE BIG STORY ABROAD<\/p>\n

On an exceptionally slow news day globally: <\/strong>Hamas, Palestinian Islamic Jihad, and Israel\u2019s war cabinet are reportedly cool to Egypt\u2019s expansive three-point peace plan \u2014 but none of them have (yet) publicly said \u201cNo,\u201d suggesting there still plenty for negotiators to do behind the scenes.<\/p>\n

Otherwise, it\u2019s so slow that <\/strong>the FT is leading its homepage with fiction<\/a><\/strong>(a short story written by former CIA officer turned bestselling author David McCloskey), the WSJ is puzzled that Americans are buying more and more cars, but driving less<\/a>, and leading the Mideast homepage of Bloomberg is \u2026 a thought piece on Goldman\u2019s losing position on Chinese equities<\/a>.<\/p>\n

CIRCLE YOUR CALENDAR-<\/strong><\/p>\n

Federal government entities will be closed on New Year\u2019s Day<\/strong>, the Federal Authority for Government Human Resources said last week<\/a>. <\/p>\n

The last weekend of the year is a big one for pop fans<\/strong>, with Sean Paul and T.I. playing<\/a> Dubai\u2019s Coca Cola Arena and X Factor India star Jubin Nautiyal performing<\/a> at the DutyFree Tennis Stadium, both this Saturday, 30 December.<\/p>\n

Madinat Jumeirah\u2019s Festive Market<\/strong> is also on throughout the holiday season<\/strong>, with a host<\/a> of parties across Dubai, Abu Dhabi, and the rest of the country on 31 December.<\/p>\n

Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, ladies and gentlemen, and happy Boxing Day (to our British, Canadian, Aussie, and Kiwi readers) and St. Stephen\u2019s Day (to our Irish friends). How slow a news day is it? 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