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International Business UAE
- 2. INTRODUCTI ON• Found inSouthwest Asia and is bordered by the Gulf of Oman and Gulf. • Made up of SEVEN Emirates - Abu Dhabi (Capital) - Ajman - Dubai (Most Populated) - Fujairah - Ras al Khaimah - Sharjah - Umm al-Quwain • Population of 8.3 million • UAE has a tropical desert climate because of its location within the Northern desert belt. Summers are extremely hot and humid. Most days are sunny throughout the year. Winters are warm and short with an average high and overnight lows. The weather in UAE bring short and irregular rainfall as is typical for the Middle East.
- 3. POLITICAL • Government isa Federation - One constitution made in 1971 • Each emirate is governed by an absolute monarch together, they jointly form the Federal Supreme Council. One of the monarchs is selected as the President of the United Arab Emirates. • The ruling family of each Emirate is a member of the Supreme Council, which is responsible for policy making and electing the president and vice president for five year terms. • President – HH Sheikh Khalifa bin Zayed Al Nahyan, Ruler of Abu Dhabi.
- 4. ECONOMIC • The economyof the United Arab Emirates is the second largest in the Arab world, the first being Saudi Arabia. • Third largest economy and 14th best country to do business with. - 2nd highest average salary in the world - Abu Dhabi is richest country • Currency is the Dirham - 1 AED = 18.20 INR (Exchange rate) • 1/3 of the citizens buy luxury brand Unemployment is at 4% • 2.9 million barrels of crude oil /day, 4th largest exporter. • Increase in spending for infrastructure and job creation.
- 5. SOCIAL • National Religionis Islam - main population is that of Muslims. - Arabic is the nations language. - Muslim prays 5 times per day. • Etiquettes is an important aspect of UAE culture and tradition. • UAE is a part of Khaliji tradition. • Literacy rates for both genders are nearly 95 percent. • The UAE is ranked as a leader in gender equality in the region. • The UAE Constitution securities equal rights for both men and women.
- 6. TECHNOL OGY• At onetime had very low technology literacy rate, now it is very high. • One of the 3rd biggest exhibition is Gulf Information Technology. • Internet country code – AE • They have two major telecommunication operators and each emirate has access to internet. • Very large and up to date infrastructure, biggest project margin in the region.
- 7. EDUCATION, APPEARANCE, FOOD• Underthe Constitution, women enjoy the same legal status, claim to titles, access to education, the right to practice professions. • Men in the UAE wear a Kandura (ankle length tunic), Women wear a black abaya (over garment). • Common food ate in the UAE are - Rice - Fish - Lamb - Muslims are prohibited from eating pork so it is not included in Arab menus. - Alcohol is generally only served in hotel restaurants and bars. Exceptions are some clubs (eg. Golf club) and associations.
- 8. INDIAN COMPANY TAJ HOTELS RESORTS& P Taj Hotels Resorts and Palaces is recognized the world over for delivering a unique flavour of hospitality that offers world-class refinement while remaining deeply rooted in its local heritage. 1903 The company opens its first hotel, The Taj Mahal Palace in Mumbai, India. 1899 2015 Taj Hotels Resorts and Palaces announced opening of a new hotel, Taj Dubai. The hotel’s 296 lavish rooms are a mix of rich Indian artistry and traditional influences, covered with a cool, vibrant twist. Every room offers stunning views of the majestic Burj Khalifa.
- 9. BIG COMPANIES First Gulf Bank(Banking and investment services) Emirates Telecommunication Corp Ltd. (Telecommunication) • Etisalat Group is one of the world’s leading telecom groups in emerging markets. • Headquartered in Abu Dhabi, Etisalat was established almost four decades ago in the UAE as the country’s first telecommunications service provider. • Etisalat provides innovative solutions and services to 169 million subscribers in 18 countries across the Middle East, Asia and Africa. • As a major leading Bank in the UAE, FGB had Shareholder Equity of AED 34.3 Billion as of September 30th, 2015 making it one of the largest equity based Banks in the UAE. • Established in 1979 and headquartered in Abu Dhabi, UAE. • FGB is recognised as a world-class organisation committed to maximising value for shareholders, customers and employees as it focuses on delivering banking products and services that meet client needs and support the UAE's dynamic economy.
- 10. FOREIGN TRADE EXPORT IMPORT • Exportaccounted for $380.4 billion in 2014. • Import accounted for $298.6 billion in 2014. • Major exports are Petroleum Oil, Gold, Gold plated with Platinum, Petroleum Gas, Motor Cars, Parts of Aircraft. • Major Imports are Gold, Gold plated with Platinum, Motor Cars, Parts of Aircraft, Turbo jets, automatic data processing machines, Copper. • Export partners are Iran, India, Saudi Arabia, Oman, Switzerland, Belgium, Hong Kong, Kuwait, Turkey, Qatar. • Import partners are China, United State, India, Germany, japan, United Kingdom, Switzerland, Italy, South Korea, France.
- 11. TOURISM – AMAZING DUBAI•The United Arab Emirates is one of the world's fastest growing tourist and business destinations. • More than 120 airlines operate to and from Dubai International Airport to more than 260 destinations, making it one of the world's busiest. • Dubai is also the home base of Emirates Airline, the international airline of the UAE, which operates scheduled services to more than 100 destinations. • Dubai ranked third in the best taxi services behind Tokyo and Singapore. • Perpetual sun, endless white sand and seas have helped to attract many tourists over the years, but it is the UAE's unbeatable shopping, superb resorts, excellent restaurants, spectacular events, an interesting traditional culture, and a safe and welcoming environment that attract visitors back time and time again.
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