Latest news with #DeyanaCherneva
Arabian Business
4 days ago
- Business
- Arabian Business
UAE businesses confident of international trade growth despite tariff woes
Businesses in the UAE remain highly confident in their international trade prospects, with 94 per cent saying they expect to grow cross-border trade in the near future, according to HSBC's 2025 Global Trade Pulse Survey. Despite ongoing uncertainty and cost headwinds from tariffs, UAE firms are leaning into enhanced planning and digital solutions to stay ahead. The HSBC survey offers insight into the business plans and sentiment of more than 5,700 international firms across 13 markets regarding tariffs and trade. UAE business optimism It reveals that two thirds of corporations globally have already experienced cost increases due to tariff and trade uncertainty – and the worst may be yet to come. In contrast, companies in the UAE are incredibly optimistic about their future international trade prospects, as they have not suffered particularly pronounced impacts on cost yet, though they do expect to in the short-and-long-term. Deyana Cherneva, Head of Global Trade Solutions, Middle East North Africa and Türkiye, HSBC Bank Middle East said: 'Corporates in the UAE have their counter strategies ready in response to the rapidly evolving trade landscape. Using data, investing in supply chains, and increasing reliance on the Middle East, China, and Europe corridors, are part of their plans. 'Geopolitical and geoeconomic shifts have been a mainstay across decades and resilient businesses know how to adapt and respond. What is encouraging to see is that 75 per cent of corporates in the UAE plan to use the trade uncertainty as an opportunity to evolve and explore new opportunities.' Key findings include: The United Arab Emirates' proactive approach is also reflected in increased regional trade ties. 62 per cent of surveyed UAE firms say they are ramping up reliance on the Middle East, followed by China (47 per cent) and Europe (43 per cent).
Khaleej Times
5 days ago
- Business
- Khaleej Times
UAE's cross-border business horizon brightens, study shows
With 94 per cent of businesses projecting strong growth in cross-border activities despite looming tariff challenges, the UAE leads global trade optimism, according to HSBC's 2025 Global Trade Pulse Survey. Conducted between April 30 and May 12, the survey of over 5,700 firms across 13 markets reveals UAE companies' remarkable resilience, outpacing global sentiment. As geopolitical and tariff uncertainties ripple worldwide, UAE firms are leveraging advanced planning, digital innovation, and strategic market diversification to secure a prosperous future. The UAE's buoyant outlook contrasts with global caution, where two-thirds of corporations report cost increases from tariff and trade uncertainties. While 65 per cent of UAE firms have faced similar cost pressures, with an average rise of seven per cent in operational expenses, they remain undeterred. A striking 76 per cent anticipate further cost hikes within six months, yet their confidence persists, driven by proactive strategies. The survey projects a 19 per cent revenue impact from tariffs on UAE businesses, slightly above the global average of 18 per cent, but firms are countering this with agility and foresight. Deyana Cherneva, head of Global Trade Solutions for the Middle East, North Africa, and Türkiye at HSBC Bank Middle East, emphasised the UAE's strategic edge. 'The UAE corporates are well-prepared for the evolving trade landscape,' she said. 'By harnessing data analytics, strengthening supply chains, and deepening ties with key markets like the Middle East, China, and Europe, they are turning challenges into opportunities.' Indeed, 75 per cent of UAE firms view trade uncertainty as a chance to innovate, with 48 per cent investing in data analytics, 42 per cent enhancing risk management, and 38 per cent improving supply chain visibility. The UAE's trade optimism is underpinned by its strategic market connections. The survey identifies the UAE itself as the top sales market for 83 per cent of local firms, followed by India (34 per cent), the UK (32 per cent), the US (32 per cent), and Germany (19 per cent). For sourcing, 78 per cent of firms prioritize the UAE, with India (40 per cent), the US (39 per cent), the UK (32 per cent), and Germany (25 per cent) as key partners. Regional trade is a cornerstone, with 62 per cent of UAE companies boosting Middle East ties, alongside 47 per cent focusing on China and 43 per cent on Europe. This diversification aligns with the UAE's Vision 2030, which aims to elevate non-oil trade to Dh4 trillion by 2031, per government projections. Additional data from the UAE Ministry of Economy highlights the emirates' trade momentum, with non-oil exports reaching Dh445 billion in 2024, a 12 per cent year-on-year increase. Free trade agreements, including those with India and the EU, have bolstered market access, while investments in digital infrastructure — such as Dubai's blockchain-based trade platforms — enhance efficiency. The UAE's logistics hub status, with Jebel Ali Port handling 14.5 million TEUs in 2024, further solidifies its global trade dominance. Geopolitical shifts, a constant in global trade, are met with resilience by UAE businesses. The survey notes that 55 per cent of firms are exploring new markets to mitigate risks, with Southeast Asia and Africa emerging as growth frontiers. The UAE's economic diversification, with non-oil sectors contributing 73 per cent to GDP in 2024, supports this adaptability. Sectors like technology, renewable energy, and e-commerce are thriving, with the UAE's digital economy projected to grow by 15 per cent annually through 2030, according to Oxford Economics. According to business analysts, while challenges like tariff costs and regulatory complexities persist, UAE businesses are undaunted. Their embrace of technology, strategic market expansion, and robust regional ties position them to lead globally, they added.
Zawya
02-06-2025
- Business
- Zawya
94% of UAE businesses confident of upside amid tariff turbulence, outpacing global sentiment: HSBC survey
Businesses in the UAE remain highly confident in their international trade prospects, with 94% saying they expect to grow cross-border trade in the near future. Despite ongoing uncertainty and cost headwinds from tariffs, UAE firms are leaning into enhanced planning and digital solutions to stay ahead. This is according to the findings of HSBC's 2025 Global Trade Pulse Survey, which offers insight into the business plans and sentiment of over 5,700 international firms across 13 markets regarding tariffs and trade. The survey was conducted between April 30 and May 12, 2025, spanning 13 key markets. It reveals that two thirds of corporations globally have already experienced cost increases due to tariff and trade uncertainty – and the worst may be yet to come. In contrast, companies in the UAE are incredibly optimistic about their future international trade prospects, as they have not suffered particularly pronounced impacts on cost yet, though they do expect to in the short-and-long-term. Deyana Cherneva, Head of Global Trade Solutions, Middle East North Africa and Türkiye, HSBC Bank Middle East said: 'Corporates in the UAE have their counter strategies ready in response to the rapidly evolving trade landscape. Using data, investing in supply chains, and increasing reliance on the Middle East, China, and Europe corridors, are part of their plans. Geopolitical and geoeconomic shifts have been a mainstay across decades and resilient businesses know how to adapt and respond. What is encouraging to see is that 75% of corporates in the UAE plan to use the trade uncertainty as an opportunity to evolve and explore new opportunities.' Key findings include: Top sales markets: UAE (83%), India (34%), UK (32%), US (32%), Germany (19%) Top sourcing markets: UAE (78%), India (40%), US (39%), UK (32%), Germany (25%) Cost pressures: 65% of UAE firms have already experienced average cost increases due to tariffs; 76% expect further increases in the next 6 months Revenue impact: Expected average revenue impact on a UAE business is 19%, slightly above the global average of 18% Strategic responses: 48% of UAE companies are enhancing data analytics, while others are investing in risk management, supply chain visibility, and entering new markets The UAE's proactive approach is also reflected in increased regional trade ties. 62% of surveyed UAE firms say they are ramping up reliance on the Middle East, followed by China (47%) and Europe (43%). -Ends- Media enquiries to: Ahmad Othman About HSBC in the MENAT region HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Türkiye (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Türkiye and the United Arab Emirates. In Saudi Arabia, HSBC is a 31% shareholder of Saudi Awwal Bank (SAB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. Across MENAT, HSBC had assets of US$73bn as at 31 December 2024.
