i need power point assignment 15 slide

Final Class Project for International Management

 

Each week you will conduct research about your country and post a synopsis of your research topic for the week on the discussion board.  You will also need to cite your resource(s) in APA format at the end of the synopsis. Wiki’s are not considered appropriate resources as they are created by the public; however, you may use the resources that are cited in the Wiki if they are credible.  Credible generally means peer-reviewed articles, reference materials and books.  Many countries have their own version of a population census and economic indicators such as GDP or Consumer Price Index. There will be nine weekly discussion posts for the project.

At the end of the semester there are 2 weeks without textbook readings and postings.  During this time, you will summarize your weekly research into a PowerPoint presentation with a minimum of 12, maximum of 20 slides.  In these slides you will have:

1. Cover slide

2. Introduction

3. Content from your research

4. References slide in APA format

5. Summary slide

Week1

Discuss the principle local industries in your country to include the products and services provided by that country.  For example, what is your country known for producing. (example -France - champagne, Italy - fine leather goods)

week2

The UAE’s economy continues to slow down as a result of low oil prices and fis-cal consolidation weighing on non-oil growth. Overall real GDP growth is esti-mated at 2.3 percent in 2016, a significant drop from the pre-2014 oil shock average of 5 percent (2010-14). Austerity measures weakened business and consumer confi-dence and slower growth in credit to the private sector. This is expected to result in lower non-oil growth estimated at 2.4 per-cent in 2016. Hydrocarbon GDP growth is also expected to slow down to 2 percent in 2016 from an estimated 4.6 percent in 2015. The average rate of inflation is esti-mated to ease to 3.3 percent in 2016 from 4.1 percent in 2015.

Sustained low oil prices have led fiscal and external balances to deteriorate, de-spite significant fiscal consolidation efforts. Authorities have managed some fiscal consolidation by raising electricity and water tariffs, removing fuel subsidies and scaling back capital transfers to Gov-ernment Related Entities (GREs). Abu Dhabi reduced reliance on government deposits and issued a US$5 billion Euro-bond in April. Despite these measures, the drop in hydrocarbon revenues has pushed the fiscal balance down from a comforta-ble surplus of 10.4 percent of GDP in 2013 to an estimated deficit of 2.1 percent in 2015 and 3.5 percent in 2016. The Abu Dhabi and Dubai sovereign wealth funds have recorded lower returns (3 percent y-o-y fall in 2015 net profits) resulting from

global volatility. The current account sur-plus also fell from 19.1 percent of GDP in 2013 to 3.3 percent in 2015 and an estimat-ed 1.3 percent of GDP in 2016.

Monetary policy is tightening, as is liquid-ity in the banking system. The central bank raised its policy rate by 25 basis points in December in response to the US Federal Reserve rate increase and is ex-pected to continue mirroring the Fed’s rate movements. Reduced government deposits are resulting in lower liquidity in the banking sector with deposit growth decelerating to 1.8 percent y-o-y at end- March 2016. A recent Credit Sentiment Survey revealed that banks are increasing-ly unwilling to lend, especially to SME’s.

Dubai’s property market continues to sof-ten but does not pose a systemic risk. Av-erage real estate residential prices fell by 11 percent in 2015. Increased supply and weakening demand amidst financial tight-ening resulting from low oil prices have led to office rents falling by up to 10 per-cent in Q1 2016. Nevertheless, continued demand in established free-zone develop-ments is sustaining non-oil growth and the real estate loan portfolio remains resil-ient.

The UAE is yet to fully develop its capaci-ty for a comprehensive measurement and analysis of household welfare across its seven Emirates. Each Emirate has an inde-pendent statistics agency, and while the federal-level statistical bureau was estab-lished in 2009, the harmonization of meth-ods and statistical agendas for a country-level welfare measurement is yet to be accomplished.

week3

The U.A.E., and in particular Dubai, serves as the commercial center for the region.  From late September through May, the U.A.E. hosts a growing and almost continuous series of well-attended trade exhibitions and conferences.  These trade events attract an impressive number of exhibitors from the region and around the world, providing all international firms the opportunity to research the local market and evaluate the potential of their products or services before making a business decision.   Advertising plays a significant role in sales promotion.  About 40 percent of the population is native Arabic speaking.  Although the language of business is English, Arabic is the official language and is required for all governmental documentation.  In addition, combined English and Arabic usage is common on signage and for many publications.  English-only promotional literature is acceptable, but those that are in both English and Arabic have a decided edge.  Arabic speakers in key decision making positions appreciate the extra effort and sensitivity to their culture that bilingual publications imply.  Arabic labeling for consumer products, especially foodstuffs, is an important requirement and an advantage in competitive marketing.   There are a number of Arabic and English language daily newspapers and several weekly and monthly magazines that are effective consumer market vehicles.  Third-country language publications are also available.  Below is a list of English and Arabic newspapers in the U.A.E.  The mostly widely circulated English-Arabic newspapers are Gulf News, the National and Khaleej Times.  Emirates News Agency (WAM http://www.wam.ae) is the official news agency of the U.A.E.  It provides daily news coverage of official and other events throughout the country.  It is also a reference for U.A.E. news for all mass media.

week4

In Dubai you will find people from all over the world, especially today given the economic expansion that calls for more qualified expatriate white-collar employees. Before its recent 21st century economic expansion, Dubai culture was pretty consistent throughout the Emirate. There was not much immigrant population other than workers from nearby Middle Eastern and Asian nations like India and Pakistan.From our research we found that Iranians were the first to migrate to Dubai in masses back in the 1900s, followed by Indians and Pakistanis in the 1960s. 

Today however, the culture of Dubai has become much diverse.What this means is that local laws are very strict on crime committing individuals. The biggest threat the law poses to Dubai residents is the ability to deport them anytime with no questions asked.People are living in Dubai for a reason, the biggest being jobs.

It is very much fair to say that Dubai culture is global in nature because of its heavy expatriate population. The official religion in Dubai is Islam. However, because of the presence of foreign cultures, other religions are also practiced in the Emirate.

You will find Hindus, Sikhs, Christians, Zoroastrians, Buddhists and other religious backgrounds in Dubai. You are allowed to practice your religion and there establishments like the Christian church and Hindu Temples to accommodate.

One nationality that is not allowed in Dubai is Isralei. The last we checked Dubai still did not grant entry Visas to peolpe of Jewish background from Israel. We will not get into the details of that here. It has to do with history and the UAE�s relationship with its neighbors.

Similar to religion, the same can be said about the language in Dubai. Dubai's official language is Arabic, though English is most predominantly spoken in day to day business. You will hear Hindi and Tagalog (Philippines) a lot because most of Dubai's labor force is from India and the Philippines.

We love how you could end up hearing five languages in the process of walking from the mall to the parking lot on your way back from shopping.

There are about 10 Holidays in Dubai. Of the 10 Dubai holidays, few are very important dates in the Islamic calendar.

The Prophet's ascension (Al Isr�a Wal Mairaj) and the Prophet's birthday (Maulid Al-Nabi) are the two biggest holidays. Then you also have the start of Ramadan and Eid al Fitr, which signifies the end of Ramadan. Eid Al-Adha is another important holiday in the Islamic calendar.

The rest of Dubai holidays like Christmas and New Years day are similar to our holidays in the US. These holidays are only observed in Dubai and not in the rest of the UAE because of Dubai�s heavy expatriate population.

National Day in Dubai is celebrated on December 2. This day is celebrated to remember the formation of the United Arab Emirates and Dubai's adoption of the AED Dirham.

Cultural conflicts are likely to happen in Country like United Arab Emirates because of the Western tourists and Muslim hosts have such noticeable cultural differences. Many Muslim countries feel that Westernised tourists are behaving unacceptably and incompatible with Islamic religion and way of life. Legislation in the destination can differ enormously from tourists' own country and this cause conflicts because of tourists' unawareness or ignorance.

week5

The corporate culture in UAE is friendly and unified also since they adhere to the labor law stipulated by the governing authorities. In Dubai for instance, which is the most populated emirate in UAE, every employer must give employment contract before a new employee joins an organization. The contact should leave nothing out and this is governed the UAE Labor Law. (UAE Labor Law)

Moreover, the work ethics in UAE is quite peculiar and friendly. The workers have a conservative kind of clothing and they greet their co-workers politely. This means even if you are new to the firm you will not feel much of a visitor because of the warm reception one receives. Also, in the course of work, every extra time is well catered for in terms of payment and just in case the extra working hours fall on the night the wages will a fifty percent increase. (UAE Labor Law)

Furthermore, the employees in UAE are highly paid when their remuneration is compared to most countries and this attracts lots of people to work in UAE. Also, the workers can claim their transport and accommodation allowance. All these make the corporate culture in UAE friendly and unified. (UAE Labor Law)

UAE is the least corrupt country when compared with other countries in the Arab world. This means bribe is illegal and of no effect. One of the reasons for this is because corruption in the judicial system of UAE is of no effect because the courts are independent however this can be changed by the ruling government.

Most businesses are shifting towards being socially responsible as it was proposed by the government and by the end of 2017. The policies and laws are being amended so as to make it mandatory for the firms to be socially responsible.

 

https://www.gulftalent.com/repository/ext/UAE_Labour_Law.pdf

week6

The UAE is one of the fastest growing and expanding region in the world. In an article by Stales, (2017) the author warns that the nature of business in the region could lead start-ups to expand too quickly. It is estimated that a business in the UAE can expand at 100%, 200%, and 300% (Staples). In the region, there are no issues related to starting or expanding a business. According to the article, the ease of setting and expanding a business in UAE is a double-edged sword since it has brought a lot of competition in the country. Many of the difficulties that the business face are some of the benefits of doing business in the UAE. 

The UAE is one of the most globalised economies. It’s a huge benefit to the region because many of the nation’s businesses can access all markets from there. However, there is the question of competition that faces a lot of businesses everywhere in the world. It is important to note that the UAE cannot be compared to the western economies on the issue of business expansion since it is a much younger country compared to the developed economies. However, the government is taking a lot of measures and creating policies to make doing business in the region easier. There are numerous efforts by the UAE government and the governments of other emirates to make setting a business easier (Staples). 

There are a lot of new services and products that have come up in the UAE. As earlier mentioned, the region is growing and business men are seeing new opportunities to start a business. The products are in high demand and business men have set up ways to have the products made in the region without having to source them from developed nations. In summary, businesses are able to grow and expand in the UAE and new products and services in demand are provided by businesses. 

Staples, Andrew. “Top tips to start your business in the UAE.” 2017. A Gulf News Website .<http://gulfnews.com/writers/andrew-staples>.

week7

The United Arab Emirates is among the world's largest growing economies. Although it attracts great potential foreign investors from worldwide, the country is facing financial crisis as a result of the drop in oil price and continued unstable geopolitical landscape in the region. UAE’s financial situation is shaky, and many consumers think they are in recession. The low oil prices have forced the country to run a budget deficit. The country’s official currency, the Dirham, is pegged to the U.S. dollar, which means that the exchange rate is the same with the change being plus or minus 0.001 (MacDonald & Al Faris, 2010).

            Regarding currency fluctuation, the Dirham has managed float meaning that the Central Bank only allows it to fluctuate within a specific limit. Since other currencies are not fixed to the dollar, their rates with the dirham fluctuate daily; hence, it has a strong fluctuation. Since its introduction replacing the Qatar and Dubai riya, the Dirham has never been revalued. However, there have been speculations on whether the UAE Central BANK will drop the Dirham’s peg to the US dollar. There are no eminent or past financial hazards as there are laws protecting the county’s economy from financial risks.

 

MacDonald, R., & Al Faris, A. (2010). Currency union and exchange rate issues. Northampton,   Mass.: Edward Elgar Pub.

week 8

The assessment of the impact of political risk on the country of doing business is very important for any business investment decision making (Bekefi & Epstein, 2008). Failure to integrate political risks elements in the decision over investment leaves the critical business resources at stake. Therefore, it is crucial for a business to cite the political, social and environmental risk assessment to factor them in the financial calculation. This paper seeks to establish and assess some of the impacts of the political risk of doing business in the United Arab Emirate.

Political risk is usually deemed as one of the key components in making a country unattractive for investment. A closer look at the political stability and business attractiveness of the UAE indicates that the country enjoys both political and economic stability with no history of political instability. The United Arab Emirate was formed as a federation of seven emirates from the Middle East which are Abu Dhabi, Dubai, Ras Al Khaimah, Fujairah, Umm al-Qaiwain, and Ajman. UAE became independent in 1971, and  since then it has not experienced any major political squabble, terrorism or political uprise.

The UAE has respect for the business and human rights. The county has not faced terrorism threat. Although it neighbors Iraq, Afghanistan, Iran highly infested with terrorists, the country enjoys relative tranquility thanks to the massive support by the US, that has built a massive military camp in the Gulf region ready for a strike. Economically, United Arab Emirate is doing exceptionally well converting the desert into an oasis of living, tourism and business designation. In the recent years, the UEA has diversified its economy to reduce its dependence on oil and gas.

References

Bekefi, Y. T., & Epstein, M. J. (2008). Measuring and managing social and political risk-social, environmental, and political risks are often ignored in financial calculations because they are difficult to quantify. But relegating them.

Strategic Finance,89(8),33-41. 

Forbes. (2017). Political Risk Analysis - GCC Spat Will Hit Investor Sentiment - NOV 2017. Retrieved October 21, 2017, from http://www.middle-east-monitor.com/political-risk-analysis-gcc-spat-will-hit-investor-sentiment-nov-2017

week9

The development of a country can readily be determined by its growth through gross domestic product and per capita income. It financial base is indicated by borrowing and lending balances. The same country should be able to portray an improved social welfare of its citizens. The income per household may give an average of what the population is likely to share from the national cake but there are factors that may hinder that from happening such as corruption and favoritism. In such cases social factor and access to the daily amenities must be put into consideration to determent the solvency of a country. Ecological surrounding is also a significant aspect that must be assessed for concerns of pollution control and waste management in order to determine the actual position of the country in the direction of development. UAE is one of the countries that have toiled towards being the face of the world countries that are considered as modernized.

            UAE is one country that is not only governed by the rule of law but also the strongest Islamic country around the world. The country treats every citizen socially equal and they believe in the power of sharing as the only value that can ensure equity rather than equality with regard to resources distribution. Gross domestic product of UAE was approximately seven billion dollars last year making the country to be in the top thirty countries with the highest GDPs. The ratio of import to export of UAE is 1:1 resulting into an inflation rate of 1.6% which is amongst the least values (Dwivedi, & Bruggink, 2016). In addition, UAE has an unemployment rate of only 3% of the entire population of 9.2 million comprising of Emirati and expatriates. The country is globally welcoming given that 42% of its domestic workers are usually foreigners from various countries around the world. Abu Dhabi and Dubai are one of the cities of UAE that are considered the most developed and with the tallest buildings in the world. They recognize Islam as the official religion and Arabic as their language. For business and education purposes, UAE uses English and that further explain how UAE is socially accommodating in the entire universe.

            UAE has the sixth largest oil well in the world and therefore mining and pollution control is a significant factor with respect to its strategic location and supply of petroleum to the world. For health concerns, United Arab Emirates has a life expectancy of 79 years with citizens suffering from congenital anomalies, obesity and malignancies. WHO has however revealed that UAE is one of the countries that have more primary health care programs than any other country in the Middle-East (Willis, MacDonald Gibson, Shih, Geschwind, Olmstead, Hu, & Moore, 2010). That move was to reduce the population of people who were seeking healthcare in other countries abroad and instead, they ensured that every citizen should be able to visit wellness clinics to ensure that conditions are earlier diagnosed and treated before it was too late. Expatriates and Dubai workers introduced a mandatory health insurance policy that saw every individual to be treated cheaply and efficiently with the insurance card. That revolutionized the personal health of the citizens and reduced the 37% obese complication that was noted in 2008.

            “UAE National Strategy and Action Plan for Environmental Health,” was the agency that had the initial motive of reducing the effects of air pollution and burden of disease in UAE. “No single agency acting alone can have the impact necessary to effect the change we need,” was the exact words of Secretary General of Abu Dhabi Environment agency, Majid Al Mansouri. He further added that the agency have plans that by 2030, UAE will be one of the countries that shall have the most pollution reduction rate among other oil minors. It intends to have filters that will ensure those only safe particulates are allowed in the atmosphere for safety of UAE and the world at large.

References

Dwivedi, N. & Bruggink, D. (2016). The United Arab Emirates payment market and its specifics: An interview with Nimish Dwivedi. Journal of Payments Strategy & Systems, 9(4), 213-219.

Willis, H. H., MacDonald Gibson, J., Shih, R. A., Geschwind, S., Olmstead, S., Hu, J., & Moore, M (2010). Prioritizing environmental health risks in the UAE.Risk analysis, 30(12), 1842-1856.