A model of the Louvre which will be built on Saadiyat Island. Pawan Singh / The National
A model of the Louvre which will be built on Saadiyat Island. Pawan Singh / The National

High hopes of capital inflows next year



With a nascent recovery in the property market and higher government spending spurring economic growth, investment is expected to increase in Abu Dhabi next year, analysts said.

The Abu Dhabi Government forecasts growth will accelerate to 5.7 per cent a year through to 2016. The pickup from an estimated 3.9 per cent this year will be led by government investment in metals, chemicals and the arts, including branches of the Guggenheim and Louvre, and is set to exceed expansion in Saudi Arabia and Qatar of 3.9 per cent and 5 per cent, respectively, Bloomberg reported yesterday. "We expect [Abu Dhabi's] real GDP growth in 2012 to be around 5 per cent, premised on 6.4 per cent growth in oil output, together with a 4 per cent growth in non-oil sectors," Standard and Poor's said last month.

UAE stock markets are set to benefit from an uptick in fund flows.

"The UAE markets I can tell you next year, will be the best performing GCC market," said Nabil Farhat, a partner at Al Fajer Securities in Abu Dhabi. "You have the improvement in the real-estate market, which has seen stabilisation and even some upward movement. That will attract capital from outside and the liquidity we all are looking for."

Fund managers are bullish that a recovery in the banking sector will help to bring investor interest back to the market.

"The banking sector is doing well, growth reached 17 per cent, even when we look at non-performing loans, our ratios were much better than Saudi Arabia's," said Wadah Al Taha, the chief investment officer at Al Zarooni Group, an investment company in Dubai. On Wednesday, the Central Bank reported that provisions for bad loans fell in October for the first time since 2008.

The Abu Dhabi Securities Exchange General Index has risen 11.6 per cent so far this year, while the Dubai Financial Market General Index has advanced 19 per cent in the same period.

That compares with an advance of 15 per cent for the MSCI Emerging Markets Index.

A Dh44.56 billion (US$12.13bn) UAE federal budget is expected to be finalised soon, of which 39 per cent will go to social services, 22 per cent to security and 2 per cent to infrastructure and building.

This is a 7.6 per cent increase on last year and is part of a three-year spending plan of Dh133bn.

The federal budget accounts for only about 11 per cent of overall fiscal spending in the Emirates, with Abu Dhabi also setting its own budget for the next 12 months.

"New developments in the logistics sector, alongside an increase in non-oil trade, are expected to keep Abu Dhabi's economy on track for moderate expansion in the coming year, with plans for further diversification set to deliver increasingly balanced growth," the Oxford Business Group said in its Abu Dhabi: Year in Review 2012 report.

Meanwhile, next year could also see increased investment in Saudi Arabia as equity valuations remain at historic lows amid hopes for increased spending that could be announced in the Saudi budget for next year, analysts said.

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

While you're here
Hotel Data Cloud profile

Date started: June 2016
Founders: Gregor Amon and Kevin Czok
Based: Dubai
Sector: Travel Tech
Size: 10 employees
Funding: $350,000 (Dh1.3 million)
Investors: five angel investors (undisclosed except for Amar Shubar)

The low down on MPS

What is myofascial pain syndrome?

Myofascial pain syndrome refers to pain and inflammation in the body’s soft tissue. MPS is a chronic condition that affects the fascia (­connective tissue that covers the muscles, which develops knots, also known as trigger points).

What are trigger points?

Trigger points are irritable knots in the soft ­tissue that covers muscle tissue. Through injury or overuse, muscle fibres contract as a reactive and protective measure, creating tension in the form of hard and, palpable nodules. Overuse and ­sustained posture are the main culprits in developing ­trigger points.

What is myofascial or trigger-point release?

Releasing these nodules requires a hands-on technique that involves applying gentle ­sustained pressure to release muscular shortness and tightness. This eliminates restrictions in ­connective tissue in orderto restore motion and alleviate pain. ­Therapy balls have proven effective at causing enough commotion in the tissue, prompting the release of these hard knots.

What is a Ponzi scheme?

A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
LIVING IN...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Duterte Harry: Fire and Fury in the Philippines
Jonathan Miller, Scribe Publications

The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

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Tips for SMEs to cope
  • Adapt your business model. Make changes that are future-proof to the new normal
  • Make sure you have an online presence
  • Open communication with suppliers, especially if they are international. Look for local suppliers to avoid delivery delays
  • Open communication with customers to see how they are coping and be flexible about extending terms, etc
    Courtesy: Craig Moore, founder and CEO of Beehive, which provides term finance and working capital finance to SMEs. Only SMEs that have been trading for two years are eligible for funding from Beehive.
WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

Jawan
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EMIRATES'S%20REVISED%20A350%20DEPLOYMENT%20SCHEDULE
%3Cp%3E%3Cstrong%3EEdinburgh%3A%3C%2Fstrong%3E%20November%204%20%3Cem%3E(unchanged)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBahrain%3A%3C%2Fstrong%3E%20November%2015%20%3Cem%3E(from%20September%2015)%3C%2Fem%3E%3B%20second%20daily%20service%20from%20January%201%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EKuwait%3A%3C%2Fstrong%3E%20November%2015%20%3Cem%3E(from%20September%2016)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMumbai%3A%3C%2Fstrong%3E%20January%201%20%3Cem%3E(from%20October%2027)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAhmedabad%3A%3C%2Fstrong%3E%20January%201%20%3Cem%3E(from%20October%2027)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColombo%3A%3C%2Fstrong%3E%20January%202%20%3Cem%3E(from%20January%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMuscat%3A%3C%2Fstrong%3E%3Cem%3E%20%3C%2Fem%3EMarch%201%3Cem%3E%20(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ELyon%3A%3C%2Fstrong%3E%20March%201%20%3Cem%3E(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBologna%3A%3C%2Fstrong%3E%20March%201%20%3Cem%3E(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cem%3ESource%3A%20Emirates%3C%2Fem%3E%3C%2Fp%3E%0A

'Peninsula'

Stars: Gang Dong-won, Lee Jung-hyun, Lee Ra

Director: ​Yeon Sang-ho

Rating: 2/5

RACE CARD

6.30pm: Handicap (Turf) US$175,000 1,000m
7.05pm: Al Bastakiya Trial Conditions (Dirt) $100,000 1,900m
7.40pm: Al Rashidiya Group 2 (T) $250,000 1,800m
8.15pm: Handicap (D) $135,000 2,000m
8.50pm: Al Fahidi Fort Group 2 (T) $250,000 1,400m
9.25pm: Handicap (T) $135,000 2,410m.

AGUERO'S PREMIER LEAGUE RECORD

Apps: 186
Goals: 127
Assists: 31
Wins: 117
Losses: 33

The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800
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DIVINE%20INTERVENTOIN
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Mia Man’s tips for fermentation

- Start with a simple recipe such as yogurt or sauerkraut

- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.

- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.

- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.