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About Adam
Adam Bouyamourn is a journalist based in Abu Dhabi, United Arab Emirates.
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Feature Stories Content Writing Corporate Content
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UAE looks to bond market to raise funds

01 Oct 2023  |  The National
The UAE is planning to issue federal debt on international markets, aiming to raise between Dh80 billion and Dh100 billion, pending the passage of a national law. The move comes as the UAE faces a budget deficit and seeks to tap foreign capital markets to mitigate the impact of low oil prices. The IMF has encouraged Gulf states to fund deficits through external debt. Economic growth in Dubai has slowed, with fiscal austerity measures underway, impacting infrastructure projects and economic diversification efforts.

Construction workers returning to India as UAE living costs soar and wages rise back home

01 Oct 2023  |  The National
Rising living costs in the UAE and increasing wages in India are prompting many Indian construction workers to return home. The UAE's construction industry, which has long relied on Indian labor, is now turning to workers from Pakistan, Afghanistan, Nepal, and the Philippines. Economic reforms in India, including interest rate cuts and infrastructure spending, are boosting the construction sector and improving living standards for workers. Family ties and the narrowing wage gap between the UAE and India are also influencing workers' decisions to stay in India. Employers in the UAE are facing challenges in hiring and retaining Indian laborers due to these shifts.

Album review: With The Force Awakens, John Williams finds his majestic music playing second fiddle to frenetic pacing

18 Jun 2021  |  thenationalnews.com
John Williams' score for 'Star Wars: The Force Awakens' is special but plays a less prominent role compared to previous films due to J J Abrams' fast-paced direction. The soundtrack, while not equal to 'A New Hope' or 'The Empire Strikes Back', showcases Williams' genius in writing themes and motifs. The review highlights the dynamic nature of the score, with action sequences dominating and less room for expansive pieces. Rey's Theme and The Jedi Steps are noted as substantial compositions, but overall, the score is seen as constrained by the film's pacing.

Saudi Arabia’s Vision 2030 is remarkable, but it will still need oil in four years

16 Jun 2021  |  The National
Saudi Arabia's Vision 2030 aims to diversify the economy and reduce dependence on oil. Despite significant progress, the country is expected to still rely on oil revenues in the near term. The fiscal deficit is projected to decrease from 15% last year to 13% this year, with a balanced budget possible by 2020.

Game review: Undertale – time to raise your game

16 Jun 2021  |  The National
Undertale, created by Toby Fox, is lauded as a post-modern masterpiece in interactive narrative art, blending emotion, humor, and tragedy with a unique battle system and multiple endings. The game subverts traditional RPG mechanics and video game conventions, offering a deep emotional story and technical mastery. It encourages multiple playthroughs with its structural playfulness and hidden Easter eggs, earning its place in the post-modern canon and changing the perception of experience points.

Fed is more than just a black box of rational actors

15 Jun 2021  |  thenationalnews.com
The Federal Reserve's decision-making process is more complex than simply following economic models, as it considers a range of factors including labor market data, international economic conditions, and market opinions. Despite improvements in the US labor market, the Fed is taking a cautious approach, influenced by part-time employment rates, the economically inactive population, and the impact of interest rate rises on trading partners. The Fed's actions are also shaped by its institutional politics and legal dynamics, as well as public and elite opinion. Theories suggest that the Fed may need to adjust its approach to inflation targets to address the economy's performance since 2008.

Dubai needs to update finance laws to compete

15 Jun 2021  |  The National
The North American International Auto Show in Detroit will move from January to June starting in 2020 to adapt to market trends and weather conditions. The absence of major carmakers like BMW, Mercedes-Benz, and Audi this year highlights the need for change. Meanwhile, the UAE's Federal Tax Authority is implementing electronic markers to track shisha imports and ensure tax compliance, following similar measures for cigarettes.

Saudi Arabia considers cutting energy subsidies to manage budget deficit

14 Jun 2021  |  www.thenationalnews.com
Saudi Arabia is contemplating reductions in energy subsidies to address its growing budget deficit, with the oil minister Ali Al Naimi acknowledging the consideration of price increases. The kingdom faces a budget deficit of 21.6% of GDP, with the IMF warning of depleting financial reserves in five years if current spending continues. The drop in oil prices has significantly reduced government revenues, necessitating an oil price of around $105 per barrel to balance spending. While the Saudi government plans to cut infrastructure spending in 2016, other Gulf countries have also adjusted their energy subsidy policies. Saudi Arabia's sovereign wealth fund has liquidated assets to fund the deficit, and the country has options due to low debt levels and substantial reserves.

IMF slashes Saudi Arabia growth forecast to 1.2 per cent in 2016

05 Jul 2016  |  The National
Mercer, a division of Marsh & McLennan, aims to double its assets under management in the Middle East to $2-$3 billion within the next 2-3 years, driven by growing regional wealth despite economic challenges. Wealth in the Middle East and Africa grew by 8.5% to $8.1 trillion in 2016, with Boston Consulting Group forecasting it to reach $12 trillion by 2021. The Abu Dhabi Investment Authority is increasing its exposure to private equity and credit transactions, particularly in Asia. The article also provides a historical overview of Amazon's key milestones.

UAE urged to keep public sector wages in check

30 May 2016  |  The National
The UAE is advised by the IMF to maintain control over public sector wages amidst a growing budget deficit. The IMF's Zeine Zeidane emphasizes the need for fiscal discipline, economic diversification, and structural reforms. The UAE's budget deficit is projected to reach 7.2% of GDP due to low oil prices, despite efforts at fiscal consolidation. The country is adopting spending cuts, new debt issuance, and taxes to manage the deficit. Investment in port infrastructure and the logistics sector is helping to mitigate the impact of low oil prices.
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