close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

King Canute and the search for a miracle

0

April 23, 2008 10:00 by



inflation, uae, dollar pegThe UAE Minister of the Economy says it would take a miracle to meet the Government’s official target of five per cent for inflation this year. Inflation hit a 19-year peak of 9.3 per cent in 2006 and probably accelerated to 10.9 per cent last year, says the National Bank of Abu Dhabi. Anyone who has bought food or rented a flat in the past year should be able to figure out things have got more expensive.

Like King Canute ordering back the tide, the government is coming to the realization that ordering shops not to raise prices - and giving government workers double-digit pay increases - does not make inflation go away. Saudi Arabia this week admitted inflation will run to double digits in 2008.

Through all of this, Gulf governments, with the exception of Kuwait, have ruled out dropping the dollar peg (matching US monetary policy) or revaluing their currencies. It might not be the cure, but it is hard to see how it would make things worse. Kuwait is not inflation-free.

In the meantime, the search is on for a miracle. Or send useful suggestions to the Minister of Economy.



0

Leave a Comment