Quotes: US 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 for 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


 






  MENA News Headlines
 Jul 29 2014 - New additions to Local Harvest brand of datesKhaleej Times
(MENAFN - Khaleej Times) E dates come from farmers who have contracts with ADFSC and therefore practise date palm farming according to the centres standards.For the next three weeks the Abu Dhabi ...

 Jul 29 2014 - PayTabs to launch online solutions in Bahrain, SaudiMENAFN
(MENAFN) PayTabs, a payment processing solution company co-owned by Saudi Aramco, is set to launch its online payment processing solutions in Bahrain and Saudi Arabia, Gulf Daily News reported.The ...

 Jul 29 2014 - Mobily signs LTE-4G roaming deal with BatelcoMENAFN
(MENAFN) Mobily telecom has signed an LTE-4G roaming deal with Bahrini Batelco to provide customers with advanced Internet services, Arab News reported.This agreement coincides with Eid Al-Fitr ...

 Jul 29 2014 - Radiant During RamadanMuscat Daily
(MENAFN - Muscat Daily) Keep your skin and hair glowing and shiny even as you're fasting in this holy month. Some tips... Moisturise Your skin too gets dehydrated when you fast. It is ...

 Jul 29 2014 - Duqm Airport takes offMuscat Daily
(MENAFN - Muscat Daily) The newly opened Duqm Airport received its first Oman Air flight ahead of schedule on Wednesday with officials saying that the facility will serve as an air transport and ...

 Jul 29 2014 - Air fares rise by 35 as travellers rush to make the most of long breakMuscat Daily
(MENAFN - Muscat Daily) Fares of most airlines have gone up due to the increase in demand during Eid al Fitr holidays. The prices of tickets to different destinations have gone up by nearly 35 per ...

 Jul 29 2014 - MoHC invites bid for construction of $250mn Oman Cultural ComplexMuscat Daily
(MENAFN - Muscat Daily) After announcing the appointment of the UK-based international consultancy and construction company, Mace as project manager for the Oman Cultural Complex (OCC), the Ministry ...

 Jul 29 2014 - Moon sighting expected on Monday eveningMuscat Daily
(MENAFN - Muscat Daily) The crescent of the new moon is expected to be visible on Monday evening across all governorates in the sultanate, marking the beginning of the month of Shawwal, according to ...

 Jul 29 2014 - Pakistan's film industry becomes alive againArab News
(MENAFN - Arab News) HORE: A breed of brand new independent filmmakers is successfully filling the void left by an obsolete industry known as Lollywood.In many ways 2013 was an era-defining year for ...

 Jul 29 2014 - Pak-British singer faces death threats over Gaza supportArab News
(MENAFN - Arab News) NDON: Zayn Malik probably wasn't expecting the barrage of abuse he received from followers after he pledged his support for the #FreePalestine social media campaign The ...

more...


 






Google

 
 

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help