The UAE's spending on IT products and services is projected to reach nearly US$3.8bn in 2012 withslower growth compared with 2011. The PC market managed double-digit growth in 2011 but structuralweaknesses still stand in the way of a more pronounced recovery, including weak credit conditions andDubai's onerous debt repayment schedule.In 2011, UAE electronics retailers reported a surge in demand for their products, although this was oftenfuelled by price cuts. Abu Dhabi has been making most of the running in the wake of the Dubai financialcrisis, but growth potential also exists in the northern emirates where the government has launched amajor infrastructure investment programme.IT spending is projected to grow at a 2012-2016 CAGR of 9%. Cloud computing and business analyticsare among enterprise IT investment priorities. Drivers of IT spending should include local and federalgovernment initiatives, long-term infrastructure projects, significant population growth and thedevelopment of non-oil sectors.Industry DevelopmentsCloud services are central to the emirate's e-government strategy for the next three years. The UAE'sGeneral Information Authority (GIA) is leading efforts to provide cloud services to federal governmententities. In December 2010, the GIA delegations from various government bodies, including the FederalCouncil for National Affairs, the Ministry of Labour and the Ministry of Environment and Water, cametogether to plan a cloud strategy.Federal spending will be an important driver of IT opportunities. The Ministry of Education is leading aninitiative to supply computers and the internet to state schools after concerns that they were laggingbehind private schools in IT and internet use. Another key area for federal IT spending will be healthcare.The government's 'Wareed' healthcare IT initiative aims to establish a completely integrated electronicplatform linking 13 state-run hospitals and 67 affiliated clinics

Abu Dhabi-based investment firm The National Investor slashed almost half its workforce at the end of last week and more cuts are likely, a person familiar with the matter said.

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Alternative routes for Middle East crude wouldn't compensate for the loss of exports in the event of a possible blockade of the Strait of Hormuz, according to industry experts, and would mean oil would eventually reach the market at a time lag and in insufficient quantities.

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