Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Expo 2020 fuels confidence of Dubai's growth  Join our daily free Newsletter

MENAFN - Khaleej Times - 11/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Optimism especially high in manufacturing services; stable selling prices set to drive revenues.

the manufacturing sector retained its lead with respect to expectations in terms of volumes soldwith 69 per cent firms expecting an increase in sales volumes in the next quarter. — kt file photo

businessmen are looking more bullish in dubai as expo 2020 is attracting more new projects that are fuelling large companies’ confidence significantly.

the dubai business community has been significantly more optimistic during the first quarter of 2014 compared to the same period of the previous year. optimism is especially high among manufacturing and services firms according to the quarterly business survey conducted by the department of economic development or ded.

the composite business confidence index for dubai stood at 135.5 points in the march quarter of 2014 an increase of 22.4 points from the same quarter in 2013. new projects expected as a result of expo 2020 are driving positive perceptions.

following on from the previous quarter large companies continue to have a stronger outlook compared to small and medium firms as indicated by their corresponding index scores of 141.6 and 126.4 respectively. large companies are more optimistic than smes on all the parameters recorded in the survey.

from a sectoral perspective optimism with respect to selling prices volumes and new purchase orders is the highest within the manufacturing sector while optimism on hiring plans and net profits is the highest amongst service firms.

selling prices are largely expected to be stable with 73 per cent of the respondents expecting “no change” while seven per cent expect a decline due to stiff competition in the market as well as the effect of seasonal downturn associated with the second quarter.

with prices largely expected to remain stable the revenue increase estimates are largely driven by an expected increase in volumes. respondents forecasting an increase in sales volumes during the second quarter of 2014 accounted for 63 per cent as against 54 per cent in the previous year.

in line with the expectations or sales volumes 62 per cent of the respondents forecast an increase in new purchase orders in the second quarter of 2014. with respect to net profits 54 per cent are expecting an increase on the back of improvement in demand for their products whereas 10 per cent foresee a decline citing slowdown in business conditions and a decline in demand.

the businesses surveyed are more confident on hiring as compared to the same period last year but less confident compared to the previous quarter — 30 per cent intend to increase their staff count in the second quarter 2014 compared to 23 per cent in the same perio in 2013 and 39 per cent in the first quarter of this year.

the manufacturing sector retains its lead with respect to expectations in terms of volumes sold with 69 per cent firms expecting an increase in sales volumes in the next quarter.

within the services sector firms in the construction architecture and real estate sub-segment are extremely confident with respect to volumes of sales in the second quarter of 2014. on the other hand expectations are subdued in the hotels and restaurants segment mainly due to the impact of summer on tourist inflows and events.

transportation firms maintain a strong outlook with 65 per cent looking forward to better volumes accentuated by a growing population rising construction activity increasing trade (exports and imports) and a booming economy. within the trading sector building and construction food and beverages electronics and auto spare parts firms are particularly optimistic due to new contracts expected in the coming quarter.

the ded conducts the quarterly surveys as an effective tool to measure the pulse of the business community and allow the government and the private sector to track and analyse major trends and issues that have a bearing on economic activity in dubai.

a total of 502 companies in dubai were covered in the survey during the first quarter of 2014. the companies were asked to indicate if they anticipated an increase decrease or no change in key indicators such as sales revenues selling prices volumes sold profits and number of employees.

— abdulbasit?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Aug 24 2016 - Kuwait- OPEC basket price down to USD 45.34 pbKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) VIENNA, Aug 24 (KUNA) -- The price of OPEC basket was down by 70 cents to settle at USD 45.34 per barrel Tuesday as oppose to USD 46.04 pb the day before, said a ...

 Aug 24 2016 - Kuwait top leaders express solace fo Singapore on demise of ex-presidentKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, Aug 24 (KUNA) -- His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah has addressed a cable of condolences to Singaporean Presidnt Tony Tan on ...

 Aug 24 2016 - GCC joint institution presents works at Jordan-hosted festivalKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) AMMAN, Aug 24 (KUNA) -- The GCC Joint Programs Production Institution (GCCJPPI) will showcase three works at Jordan-hosted Third Media Festival The institution's ...

 Aug 24 2016 - Turkish Pres. says terrorism in Syria needs to stopKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) ISTANBUL, Aug 24 (KUNA) -- A military operation has been launched into Syria with the aim of putting an end to frequent attacks targeting Turkey, President Recep ...

 Aug 24 2016 - Bahrain hails support by Kuwait to kingdomKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) MANAMA, Aug 24 (KUNA) -- Bahraini Prime Minister Prince Khalifa bin Salman Al-Khalifa praised Wednesday the deeply rooted ties and support by the State of Kuwait ...

 Aug 24 2016 - Kuwait- Briefing of KUNA main news for Wednesday until 12:00 GMTKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT - His Highness the Amir Sheikh Sabah Al-Ahmad voices sorrow over powerful quake that left scores dead in Italy in cable to Italian President. ROME - ...

 Aug 24 2016 - Syrian Gov't deplores blatant Turkish interventionKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) AMMAN, Aug 24 (KUNA) -- The Syrian Government on Wednesday condemned Turkey's military intervention in the country's north. Turkish ground forces, equipped with ...

 Aug 24 2016 - Kuwait head of Arab tariffs cmte for 6th timeKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) CAIRO, Aug 24 (KUNA) -- The State of Kuwait has been elected for the sixth consecutive time as chair of Arab panel charged with tackling tariff exemption namely ...

 Aug 24 2016 - Kuwait- Health Min. patients returning home completed their treatmentKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, Aug 24 (KUNA) -- Minister of Health Dr. Ali Al-Obaidi said on Wednesday that Kuwaiti "patients who returned from abroad have fully completed their ...

 Aug 24 2016 - Kuwait- Gov't touts South Saad Al-Abdullah project as first Smart CityKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) By Khaled Al-Mutairi KUWAIT Aug 24, (KUNA) -- The government is working laboriously to ensure the success of the South Saad Al-Abdullah housing project, ...

more...


 





Google

Easy Forex
 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help