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.

 

 

 


India suspends Kashmir border trade with Pakistan

Updated 19 April 2019
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India suspends Kashmir border trade with Pakistan

  • Kashmir has been on edge since a February suicide attack that killed 40 Indian paramilitaries
  • India said it had reports that trade on the border was being “misused by Pakistan-based elements for funnelling illegal weapons, narcotics and fake currency”

NEW DELHI: India has suspended trade across its disputed Kashmir border with Pakistan, alleging that weapons and drugs are being smuggled across the route, as tensions simmer between the nuclear-armed neighbors.
Kashmir has been on edge since a February suicide attack that killed 40 Indian paramilitaries and brought the two countries to the brink of war with cross-border air strikes.
On Thursday, India’s government, which is in the middle of a tough national election, said it had reports that trade on the border was being “misused by Pakistan-based elements for funnelling illegal weapons, narcotics and fake currency.”
It also said many of those trading across the Line of Control, which divides Kashmir into zones under Indian and Pakistani control, had links to militant organizations.
The home ministry said trade would be suspended until a stricter inspection mechanism is in place.
The cross-border trade is based on a barter system, with traders exchanging goods including chillies, cumin, mango and dried fruit.
It began in 2008 as a way to improve strained relations between New Delhi and Islamabad, who have fought two of their three wars over the disputed region.
The Indian Express newspaper said Friday that 35 trucks carrying fruit traveling from the Indian side of the border had been stopped after the government order.
Trade on the border has been suspended before, including in 2015, when India accused a Pakistani driver of drug trafficking.
The latest move comes after India withdrew “Most Favoured Nation Status” — covering trade links — from Pakistan after the February attack, which was claimed by the Pakistan-based Jaish-e-Mohammed Islamist group.
Islamabad has denied any involvement in the attack.
India’s Hindu nationalist Prime Minister Narendra Modi has made national security a key plank of his re-election campaign, pointing to the recent flare-up of violence as he battles the center-left opposition Congress party.
He is seeking a second term from the country’s 900 million voters in the mammoth election which kicked off on April 11 and runs till May 19. The results will be out on May 23.