Путешествия по Европе Голосов: 2 Адрес блога: http://sempreprimo.blogspot.com/ Добавлен: 2008-08-17 13:20:58 блограйдером avanti

Gulf states to meet on Iran-UAE island spat

2012-04-13 16:25:25 (читать в оригинале)

Foreign ministers of the six Gulf monarchies are to hold a special meeting in Riyadh after Iran's president visited an island in the Gulf claimed by the United Arab Emirates, a UAE official said on Friday.

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BMI: United Arab Emirates Telecommunications Report (Mar-12)

2012-04-13 16:17:00 (читать в оригинале)

BMI?s Q212 update to the UAE?s telecommunications market report incorporates market data from the Telecommunications Regulatory Authority (TRA) and telecoms providers Etisalat and Emirates Integrated Telecommunication Company (du) relating to the end of December 2011. It contains an analysis of the mobile, fixed-line and broadband markets, and recent regulatory developments. It also contains our growth estimates for the key sectors during our forecast period, through to 2016.The TRA?s intention to drive competition in the fixed-line sector received a major boost in March 2012 with the introduction of the carrier pre-selection service (CPS). The service allows users to choose their service provider regardless of the main access line provider. BMI sees this as major step towards full implementation of fixed network infrastructure sharing in the UAE, which has been delayed several times before. At the time of writing, local media suggested the process might eventually kick-off by mid-2012.These developments were reported after updates to our fixed-line forecast and historical data analysis. We will therefore factor in their implications for future growth in subsequent updates to our UAE telecoms market report. Our current forecast, which was upgraded this quarter following better than expected subscriber growth in Q411, envisages fixed-line subscriptions to reach 1.9mn by 2016, a penetration rate of 22.4%.The mobile sector also recorded strong growth in 2011 after market leader Etisalat broke a cycle of four consecutive quarterly subscriber losses, with net additions of 187,000 subscribers in Q411. Secondranked du continued its strong performance in Q411, with net additions of 278,000 subscribers. This brought the UAE?s total mobile subscriber base to 11.727mn at the end of December 2011, up by 4.1% qo-q from 11.262mn in the previous quarter and by 7.1% y-o-y from 10.926mn subscribers a year earlier. Based on the revision to our UAE population data in our previ

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BMI: United Arab Emirates Pharmaceuticals and Healthcare Report (Mar-12)

2012-04-13 16:11:00 (читать в оригинале)

BMI View: New population data for 2011 show the size of the expatriate population in the United Arab Emirates (UAE) has been underappreciated. Population growth has fed into a rise in the World Healthcare Organization (WHO)?s healthcare expenditure figures, which is a boon for any company that has invested in the UAE's healthcare sector. The increase has primarily been as a result of more government expenditure on healthcare. Nevertheless, we still expect the country?s pharmaceutical environment to become increasingly challenging, in light of price cuts.Headline Expenditure Projections:- Pharmaceuticals: AED5.56bn (US$1.51bn) in 2011 to AED5.65bn (US$1.54bn) in 2012; +1.6% in both local currency terms and US dollar terms. Forecast broadly unchanged from Q112.- Healthcare: AED45.27bn (US$12.33bn) in 2011 to AED50.83bn (US$13.85bn) in 2012; +12.3% in local currency terms and +12.4% in US dollar terms. Forecast significantly increased from Q112 due to inclusion of new historical data.- Medical devices: AED1.87bn (US$508mn) in 2011 to AED2.05bn (US$558mn) in 2012; +9.9% in local currency terms and +10.0% in US dollar terms. Forecast broadly unchanged from Q112.Business Environment Rating: The pharmaceutical rating for the UAE in Q212 increased by 2.77% on a quarter-on-quarter (q-o-q) basis, with the country now ranked second within the Middle East and Africa (MEA) region (up from fourth previously). The change is based on new population and healthcare spending data, which is seen as providing more commercial opportunities for companies in the industry and is reflected in an increased score for the industry rewards variable.Key Trends & Developments:- In January 2012, UAE-based pharmaceutical company Elis Pharmaceuticals acquired the Middle East licensing rights for US pharmaceutical company Apricus Biosciences' drug MycoVa. Elis will be responsible for the marketing of the nail fungal infection (onychomycosis) treatment in Bahrain, Iraq, Jordan, Kuwa

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BMI: United Arab Emirates Autos Report (Feb-12)

2012-04-13 16:08:00 (читать в оригинале)

While the last months of 2011 are reported to have resembled the days of 2008, and the depths of the global financial crisis, BMI foresees modest growth in the UAE auto market throughout the rest of 2012. There are several reasons for this fluctuation. A report by Gulf News suggests that the drop in sales at the end of 2011 was connected to shaken consumer confidence due to the European debt crisis. However, a raft of special cut price deals and targeted advertising appears to have drawn consumers back to showrooms through the first quarter of 2012, especially buoyed by the Dubai Shopping Festival (DSF).We see this as indicative of our general view of sales in the UAE over 2012 ? which BMI views as 455,102. This is modest growth in relation to 2011, which saw 448,569 vehicles sold. Increase growth comes off a number of factors. Oil prices are at a recent high, and macro political factors over the course of 2012 look likely to maintain this trend ? in particular with fears over the intention of the Iranian regime regarding the Straits of Hormuz. Beyond this, the spectre of the Arab Spring still haunts the Gulf, and has encouraged larger than normal pay-outs to citizens from governments in the region. This has had a noticeable effect on disposable incomes ? a sector of spending that traditionally has gone towards purchases such as vehicles. Spending by the government in the UAE has taken the form of a package of US$1.9bn on housing loans, as well as a US$1.35bn spend on water and infrastructure projects in the Northern Emirates.BMW experienced a record sales tally in 2011 throughout the ME region, with 47% of these vehicles being sold in the UAE. The fourth quarter was one of the best ever had by the group, with nearly 5,000 vehicles being sold. This pushed the Middle East region into being the third place globally in terms of volume and represents a 9% growth for BMW in the Middle East over 2010 volumes. However, expectations of a slowdown are being headed off

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BMI: United Arab Emirates Insurance Report (Mar-12)

2012-04-13 16:03:00 (читать в оригинале)

Key Insights And Key Risks:As of March 2012, recent developments and the latest data serve to confirm our view that the UAE is one of the largest and most dynamic of the insurance markets of the Middle East and North Africa (MENA) region. The published accounts of the larger listed insurance companies in relation to 2011 indicate that both segments grew at (low) double-digit rates in terms of gross written premiums. As was the case in Q112, we continue to see the development of takaful, which has been led by Islamic Arab Insurance Company (Salama) as a key driver of growth for the entire sector.Importantly, much of the newsflow through the later part of Q411 and Q112 indicated that the UAE?s insurers are responding proactively to the competitive and often difficult conditions prevailing in the nonlife segment (especially). During 2011, several insurers allowed premiums and profits to contract as they focused on writing business that would contribute to profitability over the medium- to long-term. Various partnerships have been announced to exploit areas of opportunity, such as health insurance. Retention rates have risen. New products have been developed. Meanwhile, HDFC Life, the largest private sector life company in India, has established an operation in Dubai that focuses, not unreasonably, on wealthier non-resident Indians (NRIs). As was the case three months ago, it appears that the majority of companies in the UAE?s insurance sector were largely unaffected by the volatility of global financial markets through 2011.Looking forward, we remain of the view that some kind of consolidation will take place in the competitive landscape. The largest UAE insurers ? such as Salama, Oman Insurance Company and Abu Dhabi National Insurance Company (ADNIC) write annual premiums of around US$600-800mn. By this metric, they are roughly half the size of Tawuniya, the largest insurance company in Saudi Arabia and would rate as no more than medium-sized players in most oth