Boom for women in business in UAE, but few reach company boards

Women are still underrepresented in company boards, according to a report of the Federation of UAE Chambers of Commerce and Industry. (Shutterstock image)
Updated 10 February 2019
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Boom for women in business in UAE, but few reach company boards

  • Emirati businesswoman now hold a combined 28,000 commercial licenses with investments of 30 billion dirhams ($8.2 billion)
  • UAE is now the regional hub for for more than 24 percent of the world’s 500 largest companies

LONDON: The number of registered businesswomen in the UAE grew by about 20 percent last year, although females are still underrepresented on company boards, according to statistics quoted by the state news agency (WAM).

A report by the Federation of UAE Chambers of Commerce and Industry, quoted by WAM, found that the number of businesswomen registered with the chambers increased to more than 25,000 in 2018 compared with 21,000 in 2017.

More than 50,000 trade licenses were issued to women entrepreneurs last year, with Emirati businesswoman now holding a combined 28,000 commercial licenses with investments of 30 billion dirhams ($8.2 billion), the report found. 

Yet the proportion of women who are acting as chairs of the board in private sector companies in 2018 stood at just 4 percent — compared to 2 percent in 2013 — and the number of female board members stood at between 9 and 14 percent.

Hamid Mohammed bin Salem, secretary-general of the Federation of UAE Chambers of Commerce and Industry, also informed  WAM that the UAE is now the regional hub for for more than 24 percent of the world’s 500 largest companies.

 

 

 


UK Treasury chief vows to quit if Boris Johnson becomes PM

Updated 57 min 52 sec ago
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UK Treasury chief vows to quit if Boris Johnson becomes PM

  • Hammond is the third minister within a week to quit or say they will resign in order to try to block a no-deal Brexit
  • Johnson is the strong favorite to win a two-person runoff to lead the Conservative Party and the country

LONDON: British Treasury chief Philip Hammond says he will quit if — as widely expected — Boris Johnson becomes prime minister this week.
Hammond said Sunday that Johnson’s vow to take the UK out of the European Union on Oct. 31 with or without a divorce deal is “not something that I could ever sign up to.”
He is the third minister within a week to quit or say they will resign in order to try to block a no-deal Brexit. Economists say leaving the EU without a deal would cause Britain economic turmoil.
Johnson is the strong favorite to win a two-person runoff to lead the Conservative Party and the country. The winner is being announced Tuesday, with the victor taking over from Prime Minister Theresa May on Wednesday.