The UAE is the federation of 7 Emirates in which they are Dubai, Ajman, Umm Al-Quwain, Sharjah, Abu Dhabi, Al-Fujayrah and Ras Al-Khaima. All these Emirates are governed and ruled by the Federal Supreme Council. Dubai as well as Abu Dhabi not only they are the richest but they dominate UAE economy. In UAE the oil was discovered about 35 years ago and starting from that time, UAE was no longer a desert; it became a modernistic country with high criterion of living. After the economic crisis, the economy of UAE has shrinked in 2009 where oil prices decreased and narrowed international credit. The UAE has responded to the crisis by increasing and boosting liquidity in the banking sector. Moreover UAE strategic plan for coming years is focusing …show more content…
Consumer price inflation increased to become 11.7% in 2007 and 11.5% in 2008. This led to depreciation of the US Dollar against the world most major currencies, increase in prices of non-oil imported goods priced in Euro, Japanese Yen, or British Pound Sterling and increasing domestic demand pressures. Although rents, high food prices, and in addition imported inflation was a very important factor, not to mention also that rising real-estate and property prices has been the main driver of inflation. In result of timely policies of monetary management as fiscal management by the government CPI inflation was down to 1% in 2009.For the coming years, inflation is projected to stay stable and manageable at 2.2% and …show more content…
With regard to information disclosure of private intermediaries; its low and inconsistent which gave most intermediaries the freedom to act toward several accounting estimates.
• Taxation (linked to accounting): Germany accounting rules are conform to tax law and there is a close link between tax and financial accounting. However to stay clear from dual taxation USA companies in Germany have their tax governed by a particular protocol.
• Political and economical ties: Germany and USA had strong foreign direct investment ties together which made Germany to be the 5th major FDI in USA. In 2010, $213 billion was directly invested in the USA on the other hand USA FDI in Germany was $106 billion. Its invests on industries such as chemicals and services (financial industries). Moreover In 2011 USA was one of Germany major exporters outside the EU. German companies employ roughly 500 thousand Americans.
• Inflation The Inflation rate is announced by the Federal Statistics Office and based upon the consumer price index (CPI), the rate was1.24% in 2014.
• Level of
The United States and Germany have many similarities and differences. The United States has a higher population than Germany, but for some things they are very close to each other. Both germany and the United States have a very good GDP and it is rising every year. Neither countries are on their way to a recession. The most important thing for all countries is to stay away from a recession. The aspects that play into determining GDP is things like unemployment rate, imports and exports, and consumer spending.
Germany’s Economic System the Federal Republic of Germany’s economy has now flourished despite its harsh times that have been faced throughout the decades. Most people know about Germany from its historic involvement in World War II; its successful campaign to unite East and West with the successful collapse of the Berlin Wall; and its world class development and production of automobiles. Unfortunately, what most people don’t know is that Germany continues to fight an uphill battle in keeping its established ranking among the world’s most important economic powers.
The two countries reunified in 1990 and the reunification caused a decrease in Germany’s economic strength. This was due largely to Eastern Germany’s reliance on the Soviet Union for economic strength and stability. This remained true from 1991 to 1999 and is reflected in Germany’s average economic growth of 1.8%. Their growth started to increase in 2000 to 3.3%. This was due to the “rise in merchandise exports and foreign direct investment” (Marketline).
Germany and its Economy Known as the "fair" capital, Germany lies in the center of Europe and in the center of the European home market. Approximately two thirds of the top international fairs take place in Germany. Germany is successful. A leader in world trade, Germany is the third largest economy in the world and the biggest market in Europe. It wasn't always this way though; European power struggles wounded the country in two devastating World Wars in the first half of the 20th century and left the country dominated by the victorious Allied powers of the US, UK, France, and the Soviet Union in 1945.
The country of Germany is one of the strongest economies in Europe as a whole. A brief history and overall status of this country is going to be explained giving examples and demographics. Along with my understanding of the information, I will try to help you understand the importance of this country’s overall macroeconomic stance that contributes to today’s wealth of the European Union.
They increase the spending on connectivity and human resources (Saudi Arabia Emergence Innovation Kingdom, 2014). Saudi Arabia is the largest economy in the Middle East and the richest Arab country. The economy of Saudi Arabia is entirely based on oil (Smetoolkit.org, 2014). Saudi Arabia is the 19th largest exporter and the 20th largest import market in the world (Saudiembassy.net, 2014). Exports now in the kingdom include all economic sectors.
Germany is a very big and modern country located in the middle of Europe. Germany has factories and is extremely industrialized. On top of that, it has an interesting culture as well as an extremely dedicated work force. Even though it has a rough past, Germany can still be considered a great and successful country.
His Highness Sheikh Zayed Bin Sultan Al Nahyan, founder of the United Arab Emirates, or UAE, stated, “The greatest use that can be made of wealth is to invest it in creating generations of educated and trained people.” From its conception, the United Arab Emirates was founded on the importance of education. Since it’s founding in 1971, the small country’s population has risen to over nine million people. This dramatic rise in population was a cause for the dramatic investment the countries government has put into its education system. In 1975, the rate of adult literacy was 54% among men and 31% among women, while today, literacy rates f...
The Kingdom of Saudi Arabia is a petrostate. It is a petrostate in the sense that the oil sector dominates the national economy and international exports. (Colgan 226) This is due to Saudi Arabia’s one crop economy, oil. (Ali 100) Oil accounts for 70-80% of the state revenue as well as roughly 95% of export revenues. Before the discovery of oil in the 1930s, the economy rested on Islamic pilgrims. Containing the Grand Mosque, Al-Masjid al-Haram, Saudi Arabia gets a large influx of believers every year for the Hajj, one of the Five Pillars of Islam. During this time of year, income was made by food and shelter sold to the travelers. This was enough to support the state, but not enough to make it the monetary power it is today. What allowed for Saudi Arabia’s climb in the world economic ladder was oil. Oil has been a valuable industrial resource since the beginning of World War 1. Since then the demand for oil has progressively become higher and higher amongst industrial nations, allowing for oil rich states to receive large amounts of affluence. Among these oil rich states is Saudi Arabia, the region with the highest capacity for oil production out of the entire Middle East. From their remarkably high oil production, Saudi Arabia was able to gain considerable amounts of wealth and political significance. Oil in Saudi Arabia politically affected the Saudi government in both their foreign and domestic policy by providing economic power, the ability to fund wars, the ability to use economic diplomacy.
As the UAE is made up of 7 Emirates so each of them have their own governmental organisations which allows for the smooth running of their economy.Dubai occupies the vice presidency,second after Abu Dhabi which has its own law so its also a primal location.It is politically safe with low crime rate.
Dubai is one of the most famous cities in the world, because of the quick growth of their economy, especially tourism. The important and the startigic location of Dubai as a part of United Arab Emirates as a country which connects Asia, western Africa and central/Eastern Europe together give her the privilege to be one of the most important city in the region. The World Travel and Tourism Council (WTTC) explained 6.5 million people have visited Dubai in the year 2006 (Rahman, 2007b) and that number got increase year by year to reach 4.3 visitors in2012 only in the period of the Dubai Shopping festival.
In conclusion, the differences in practices are major due to different markets and culture. Even though they might be the smallest of the four, they are the largest in the Middle East. Dubai and the rest of the Gulf are booming and the markets are getting bigger everyday. I personally think in the future they will attract the big corporations and will already have many clients from the SMB’s, which will keep them on top.
Germany is situated in northern central Europe. It shares its boarders with nine other European nations (Austria, Belgium, Czech Republic, Denmark, France, Luxembourg, the Netherlands, Poland, and Switzerland), which makes it in the middle of one of the most attractive trading zones in the world. From its position on the North Sea and the Baltic Sea in the north, Germany has easy access to the Nordic nations and the United Kingdom. Germany’s capital is Berlin which is the country’s largest city in terms of area and one of the most influential centers in European politics and culture. It is considered the largest European economy and one of the largest economies in the
UAE consists of seven emirates : Abu Dhabi ,Dubai , Sharjah, Ajman, Fujairah , Ras Al Khaimah and Umm Al-Quwain which is a federal state. Sheikh Zayed is one of the foundations of the Union on the second of december 1971 , where the Sheikh Zayed converts Emirates of empty desert into a green paradise . Consists state emblem is a science that combines four colors red , white , green and black . National anthem is the anthem Emirates National , which echoes in every morning in most government and private institutions . Abu Dhabi is the capital of the United Arab Emirates Abu Dhabi is one of the most world cities sophisticated in terms of modern infrastructure fit its position as a hub economic and political to the United Arab Emirates are They combine its role as a destination for business and tourist destination from shopping in shopping malls Superior to swap in traditional markets as well as enjoy the miles of sand golden beaches to break in one of the public parks in the city and dine at five-star hotel to the safari distinctive and enjoyable , and famous Emirate and the largest in terms of area is Dubai . Arabic is the official language of all the people of the United Arab Emirates . System of government is a federal system known from time immemorial . The head of state , Sheikh Khalifa bin Zayed Al Nahyan , who is also Ruler of Abu Dhabi , who succeeded his father, Sheikh Zayed , the Minister is the Minister Sheikh Mohammed bin Rashid Al Maktoum . Emirates has an area of approximately 83,600 km 2 ( 116 ) and estimate the proportion of water in which 1.1 percent , also the population of the United Arab Emirates to a 8.264 million rate of a million that have been counted in 2011 before 3 years . The population density of t...
Have you ever wanted to see the world’s richest country? That is covered with exotic beaches. Food that will defiantly cure your taste buds. Luxurious cars everywhere you turned your head. Seeing different people from all over the world coming to visit. A place that’ll for sure entertain you. To get a taste of this lifestyle that’s overseas, you need to visit Dubai.