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Banking & Business Review, May 09

Banking & Business Review, May 09



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Published by Fa Hian
Premier business magazine from Dubai. Published by Sterling Publications. website: www.sterlingp.ae
Premier business magazine from Dubai. Published by Sterling Publications. website: www.sterlingp.ae

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Published by: Fa Hian on May 18, 2009
Copyright:Attribution Non-commercial


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salEs and MarKEtinggee Me (se & Mke)rk n k@ep.eP Me Vjy g vjy@ep.ese aveeme Exevesj ay j@ep.eaccountsbj vee j@ep.eofe c-dy oe y@ep.ec spev im a. hmeeseem K uPrintinga P Pe l.l.c., Pb 3522, ajm, uaE. te. 06 743 4221,Fx: 06 743 4223www.pe.m, em: @em.edistributionuaE: twee Pb n 500666 d, uaE. te: (+971 4) 342 1512se  om: a-a’ d E., Kw: te Kw gp P & d c.b: a h cp, Q:d a-tq, s a: s d cmpy
SterlingPublications FZ LLC
Loft Ofce 2, G 01, Dubai Media CityP.O. Box 500595, Dubai, UAE. Tel. + 971 4 367 2245, Fax +971 4 367 8613Website: www.sterlingp.ae Email: info@sterlingp.ae
Overseas Offices:
: Anand Vardhan, DII/89, Pandara Road, New Delhi, 110003. Tel: 0091 1 26517981
: Sunliz Publications W.L.L, PO BOX 2114, Manama, Kingdom of Bahrain. Tel: 00973 17276682
 Vol. VI. No. 42 May 2009
K rndn
edto’ not
There’s hope
ost indicators are pointing to an early recovery in the local economy. Te worstears o the year-end have been disproved ascompanies and businesses report their frst numbersor the quarter. Liquidity, no doubt, continues to betight, but there are attempts to come out o the siege,as it were. Banks are beginning to lend again, althoughthey are very selective on who should get the money and on what conditions. Te more aggressive amongthem are ready to try out new ways o breaking theice.Similarly, the earning season has not been that bad.Banks have turned in profts, but o course, not likethose heady days. Proftability has gone down, but stillthere is money to be made. According to indications,most UAE banks would be relatively comortable by the second quarter and already there are signs o apositive turn. Market confdence, which had hit thebottom, seems to be picking up and the stock marketsare showing some signs o a movement.Te property sector is also said to be turningaway rom a state o absolute hopelessness to oneo measured caution as the continued all in pricesseems to have been arrested somewhat. Even i the allhasn’t stopped, the pace o the all has slowed downand maybe within the oreseeable uture there couldbe signs o stability.Coupled with all this, Dubai has reported improvedtourist arrivals and hotel occupancy, both o whichhad apparently been a great cause o worry. I thingscontinue to happen this way, there may be soon lightappearing rom the other end o the tunnel.

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