MENA | UAE’s 50 initiatives; Abu Dhabi fees; solid regional PMIs
New rules on residency visas are just part of the 50 economic initiatives
announced by the UAE to celebrate its golden jubilee. The measures include
new visa categories to attract and retain skilled workers in the country’s latest bid to diversify its economy away from dependence on oil.
What you will learn:
- Abu Dhabi has also introduced reforms on fees to improve the ease of doing business, attract investment and innovation and boost economic growth.
- Regional PMIs showed continued expansion in the non-oil sector in August.
- The UAE posted a reading of 53.8, with strong growth in business activity and employment. Saudi Arabia showed a loss in momentum with a reading of 54.1, down from 55.8 in July, but still comfortably above the 50 no-change mark, while Qatar’s PMI rose to 58.2, the second highest on record.
- The UAE has launched fifty economic initiatives this week in the run-up to its golden jubilee in December and ahead of the global summit next year.
High debt costs suggest European office price correction
Our analysis suggests a 10% correction is needed on average for the major office markets in Europe to compensate for the higher cost of debt, with prime yields required to soften by 10bps-75bps to generate a low-risk interest coverage ratio at a reasonable LTV.Find Out More
Why an ageing population doesn’t mean soaring inflation
What’s the future for inflation? Joachim Nagel, the new president of Germany's central bank, believes the rapidly ageing global population will play a key role – ramping up pressure on prices in the medium term. While we agree slowing labour supply will stifle output growth, in his recent discussion Nagel failed to fully consider the demand side of the argument.Find Out More