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July 9, 2018

Study shows SME share of Dubai GDP at 47%, workforce at 52.4%

Dubai SME, the agency of the Department of Economic Development, DED, in Dubai, mandated to develop the Small and Medium Enterprise, SME, sector, in conjunction with the Dubai Statistics Centre, released a new study on the local SME sector as part of Dubai SME Development Plan, SMDP, which is part of the Dubai Plan 2021.

The study was released in conjunction with the World SME Day, which was celebrated on June 27th this year.

Underlining the role and importance of the SME sector in the overall economy in Dubai, the study, which was initiated during the first quarter of 2018, showed that SMEs continue to create a significant number of job opportunities and add [...]

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July 4, 2018

UAE – business conditions improve at fastest pace in 2018, according to Emirates NBD UAE PMI®

The health of the UAE’s non-oil private sector improved to the greatest extent in the year-to-date, buoyed by strong inflows of new business and output growth. Promotional activity helped to stimulate client demand, reflected by new order books expanding at the fastest pace since December last year. Despite firms ramping up output, backlogs of work built up at a record pace. Meanwhile, input price inflation further softened from the peak seen in January.

The survey, sponsored by Emirates NBD and produced by IHS Markit, contains original data collected from a monthly survey of business conditions in the UAE non-oil private sector.

Commenting on the UAE PMI® survey, [...]

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July 2, 2018

Direct Banks Setting Benchmark for Customer Satisfaction, J.D. Power Finds

Direct banks continue to outperform traditional retail banks in overall customer satisfaction, but these branchless institutions are showing some signs of vulnerability. According to the J.D. Power 2018 U.S. Direct Banking Satisfaction Study,SM direct banks have lost ground to traditional retail banks in terms of customer understanding and mobile experience. Key performance metrics—providing tailored information to meet customer needs, understanding product features and understanding fee structures—have declined year over year.

“Direct banks have traditionally occupied a niche of the retail banking marketplace where they serve mainly as secondary banks with competitive [...]

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June 17, 2018

Banking and Credit Card Apps Set New Standard for Mobile Customer Satisfaction, J.D. Power Finds

U.S. banks and credit card companies are setting a new standard for customer satisfaction with mobile apps, winning a rapidly growing user base and achieving the highest satisfaction scores of any industry in which J.D. Power measures satisfaction. According to the J.D. Power 2018 U.S. Banking App Satisfaction StudySM and U.S. Credit Card App Satisfaction Study,SM overall customer satisfaction with banking and credit card apps increases this year as more customers adopt digital as their primary interaction channel.

“As mobile apps rapidly become the primary interaction channel for retail bank and credit card customers, getting the formula right in terms of usability, feature [...]

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