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Mid East Info
an hour ago
- Business
- Mid East Info
UAE SMEs show steady optimism despite economic headwinds, says RAKBANK SME Confidence Index 2025
Dubai, United Arab Emirates, June, 2025 – RAKBANK has released its latest SME Confidence Index, highlighting a promising outlook for the UAE's Small & Medium Enterprise (SME) sector. Based on insights from over 1,200 UAE-based SMEs collected between October and December 2024, the report – done in partnership with RFI Global – reveals an SME Confidence Index score of 57. Measured against a base score of 50, the findings reflect a stable and optimistic sentiment against a dynamic economic environment. The 2025 findings illustrate that UAE SMEs continue to build on the momentum of the resilience demonstrated in recent years. Despite a marginal drop in the overall Index score by 4 points from 61 in 2023 to 57 in 2024, the findings show that optimism remains steady, with over two-thirds (68%) of SMEs viewing the future business environment as favourable, and more than 60% reporting revenue growth over the past two years. While challenges persist, including rising operational costs, corporate tax implementation, and high borrowing costs, the overall trajectory signals adaptability and optimism among SMEs in navigating the evolving business landscape. Raheel Ahmed, Group Chief Executive Officer of RAKBANK, commented on the findings, saying: 'This has been a milestone month for RAKBANK's Business Banking Group, reinforcing our commitment to the UAE's dynamic SME sector. We first launched the RAKBANK RFI SME Confidence Index in 2024, providing timely insights into SME sentiment, challenges, and growth outlook across the country. RAKBANK has also been named the UAE's Best Bank for SMEs at the Euromoney Awards for Excellence 2025, a recognition of our continued focus on enabling business success. In a further boost to the SME ecosystem, RAKBANK and Emirates Development Bank announced a strategic AED 1 billion co-financing partnership during the 'Make it in the Emirates' forum, held under the patronage of the Ministry of Industry and Advanced Technology. Small and medium enterprises are the backbone of every thriving economy, and in the UAE, they play a central role in driving diversification and sustainable development. At RAKBANK, we continue to reinforce our commitment to be a trusted partner on their journey, providing the insights, tools and support they need to grow their businesses and contribute to the wider economy.' Key highlights: The report showcases several trends shaping the SME sector in 2025. Consumer & Retail Services remain the highest-performing sector, driven by a continued rise in consumer spending and successful adoption of new business channels. The report also highlights how SMEs across industries are prioritising product innovation and market expansion as key strategies for growth in a competitive landscape. While Consumer & Retail Services SMEs achieved a sector confidence score of 60, Construction & Manufacturing (57), Transport (57), and Trading (58) remained steady in confidence, while Public Services and Professional Services saw more notable declines to 56, largely due to increased costs and lower confidence in debt servicing. Key takeaways include: Overall confidence remains above baseline: While the Index score decreased slightly to 57 from 61 in 2024, it still signals positive sentiment across the board. Revenue growth continues: More than 3 in 5 SMEs reported an increase in annual revenue over the last two financial years. SMEs with revenue up to AED 30 million posted the highest confidence score at 58, while larger SMEs (AED 30-100 million) dipped to 55. Rising costs present challenges: Over two-thirds of SMEs experienced higher operational costs, while only 39% expressed confidence in meeting debt obligations, down from last year. Digital adoption is on the rise: 22% of SMEs now sell their products or services online, and 45% use digital banking channels monthly. Sustainability is gaining attention: 55% of SMEs are either on or planning to begin a sustainability journey, with 1 in 3 citing it as a short-term business objective. Meeting challenges head-on: While UAE SMEs remain optimistic, they are also navigating barriers such as increased costs of doing business, rising demand for credit, competitive pressures, and adapting to the corporate tax regime introduced in 2024. To address these issues, many SMEs are investing ambitiously in technology, operational efficiencies, and sustainability strategies aimed at long-term growth. The report further emphasises the role of financial partners in this equation, with SMEs citing tailored banking solutions as a key support system. This finding underscores RAKBANK's continued mission to empower UAE SMEs with innovative financial products, relevant market data, and strategic guidance. What's especially encouraging from the survey, is the sector's forward-looking mindset. We're seeing increased focus on entering new markets, investing in talent, and modernising payment infrastructure. At RAKBANK, we see our role as a partner in that journey, providing not just financial solutions but also the advisory support needed to help them grow with confidence. About RAKBANK: RAKBANK, also known as the National Bank of Ras Al Khaimah (P.S.C), is one of the UAE's oldest yet most dynamic banks. Since 1976, RAKBANK has been a market leader, offering a wide range of banking services across the UAE. We're a public joint stock company based in Ras Al Khaimah, UAE, with our head office located in the RAKBANK Building on Sheikh Mohammed Bin Zayed Road. The Government of Ras Al Khaimah holds the majority of our shares, which are publicly traded on the Abu Dhabi Securities Exchange (ADX). RAKBANK stands out for its innovation and unwavering commitment to delivering awesome customer experiences. Our transformative digital journey aims to be a 'digital bank with a human touch,' accompanying you during key moments. With 21 branches and advanced Digital Banking solutions, we offer a wide range of Personal, Wholesale, and Business Banking services. Through our Islamic Banking unit, RAKislamic, we provide Sharia-compliant services to make your banking experience seamless, whether you visit us in person or online.
Observer
9 hours ago
- Business
- Observer
Oman among leading Arab countries in ITUC Global Rights Index
BUSINESS REPORTER MUSCAT, JUNE 2 Oman has emerged as one of the leading Arab countries in the ITUC Global Rights Index, published by the International Trade Union Confederation (ITUC). The country's rating improved from Level 4 to Level 3 — a notable step forward in terms of trade union rights and freedoms. This progress reflects the sustained efforts of the General Federation of Oman Workers (GFOW) at both national and international levels. According to the Index, the improved rating is the result of a series of reforms to labour legislation and regulatory frameworks. These reforms include enhanced access to justice for workers and the promotion of more effective tripartite dialogue between the government, employers, and workers' representatives. This has been achieved through the establishment of a joint dialogue committee comprising representatives of all three parties, tasked with drafting, reviewing, and amending labour laws and policies. The reforms introduced in recent years have contributed to fostering constructive dialogue on labour and employment issues and to strengthening mechanisms for the resolution of labour disputes. The ITUC Global Rights Index is an annual global assessment of trade union rights and human rights in the world of work. It is published by the ITUC as part of the International Labour Conference (ILC), held annually in Geneva, Switzerland. The Index ranks countries on a scale from 1 (best) to 5+ (worst), based on 97 indicators derived from International Labour Organization (ILO) standards. These include restrictions on collective bargaining, the right to strike, freedom of association, trade union membership, violence against trade unionists, and limitations on freedom of expression.
Mid East Info
10 hours ago
- Business
- Mid East Info
UAE SMEs show steady optimism despite economic headwinds, says RAKBANK SME Confidence Index 2025 - Middle East Business News and Information
Dubai, United Arab Emirates, June, 2025 – RAKBANK has released its latest SME Confidence Index, highlighting a promising outlook for the UAE's Small & Medium Enterprise (SME) sector. Based on insights from over 1,200 UAE-based SMEs collected between October and December 2024, the report – done in partnership with RFI Global – reveals an SME Confidence Index score of 57. Measured against a base score of 50, the findings reflect a stable and optimistic sentiment against a dynamic economic environment. The 2025 findings illustrate that UAE SMEs continue to build on the momentum of the resilience demonstrated in recent years. Despite a marginal drop in the overall Index score by 4 points from 61 in 2023 to 57 in 2024, the findings show that optimism remains steady, with over two-thirds (68%) of SMEs viewing the future business environment as favourable, and more than 60% reporting revenue growth over the past two years. While challenges persist, including rising operational costs, corporate tax implementation, and high borrowing costs, the overall trajectory signals adaptability and optimism among SMEs in navigating the evolving business landscape. Raheel Ahmed, Group Chief Executive Officer of RAKBANK, commented on the findings, saying: 'This has been a milestone month for RAKBANK's Business Banking Group, reinforcing our commitment to the UAE's dynamic SME sector. We first launched the RAKBANK RFI SME Confidence Index in 2024, providing timely insights into SME sentiment, challenges, and growth outlook across the country. RAKBANK has also been named the UAE's Best Bank for SMEs at the Euromoney Awards for Excellence 2025, a recognition of our continued focus on enabling business success. In a further boost to the SME ecosystem, RAKBANK and Emirates Development Bank announced a strategic AED 1 billion co-financing partnership during the 'Make it in the Emirates' forum, held under the patronage of the Ministry of Industry and Advanced Technology. Small and medium enterprises are the backbone of every thriving economy, and in the UAE, they play a central role in driving diversification and sustainable development. At RAKBANK, we continue to reinforce our commitment to be a trusted partner on their journey, providing the insights, tools and support they need to grow their businesses and contribute to the wider economy.' Key highlights: The report showcases several trends shaping the SME sector in 2025. Consumer & Retail Services remain the highest-performing sector, driven by a continued rise in consumer spending and successful adoption of new business channels. The report also highlights how SMEs across industries are prioritising product innovation and market expansion as key strategies for growth in a competitive landscape. While Consumer & Retail Services SMEs achieved a sector confidence score of 60, Construction & Manufacturing (57), Transport (57), and Trading (58) remained steady in confidence, while Public Services and Professional Services saw more notable declines to 56, largely due to increased costs and lower confidence in debt servicing. Key takeaways include: Overall confidence remains above baseline: While the Index score decreased slightly to 57 from 61 in 2024, it still signals positive sentiment across the board. Revenue growth continues: More than 3 in 5 SMEs reported an increase in annual revenue over the last two financial years. SMEs with revenue up to AED 30 million posted the highest confidence score at 58, while larger SMEs (AED 30-100 million) dipped to 55. Rising costs present challenges: Over two-thirds of SMEs experienced higher operational costs, while only 39% expressed confidence in meeting debt obligations, down from last year. Digital adoption is on the rise: 22% of SMEs now sell their products or services online, and 45% use digital banking channels monthly. Sustainability is gaining attention: 55% of SMEs are either on or planning to begin a sustainability journey, with 1 in 3 citing it as a short-term business objective. Meeting challenges head-on: While UAE SMEs remain optimistic, they are also navigating barriers such as increased costs of doing business, rising demand for credit, competitive pressures, and adapting to the corporate tax regime introduced in 2024. To address these issues, many SMEs are investing ambitiously in technology, operational efficiencies, and sustainability strategies aimed at long-term growth. The report further emphasises the role of financial partners in this equation, with SMEs citing tailored banking solutions as a key support system. This finding underscores RAKBANK's continued mission to empower UAE SMEs with innovative financial products, relevant market data, and strategic guidance. What's especially encouraging from the survey, is the sector's forward-looking mindset. We're seeing increased focus on entering new markets, investing in talent, and modernising payment infrastructure. At RAKBANK, we see our role as a partner in that journey, providing not just financial solutions but also the advisory support needed to help them grow with confidence. About RAKBANK: RAKBANK, also known as the National Bank of Ras Al Khaimah (P.S.C), is one of the UAE's oldest yet most dynamic banks. Since 1976, RAKBANK has been a market leader, offering a wide range of banking services across the UAE. We're a public joint stock company based in Ras Al Khaimah, UAE, with our head office located in the RAKBANK Building on Sheikh Mohammed Bin Zayed Road. The Government of Ras Al Khaimah holds the majority of our shares, which are publicly traded on the Abu Dhabi Securities Exchange (ADX). RAKBANK stands out for its innovation and unwavering commitment to delivering awesome customer experiences. Our transformative digital journey aims to be a 'digital bank with a human touch,' accompanying you during key moments. With 21 branches and advanced Digital Banking solutions, we offer a wide range of Personal, Wholesale, and Business Banking services. Through our Islamic Banking unit, RAKislamic, we provide Sharia-compliant services to make your banking experience seamless, whether you visit us in person or online.
Business Wire
11 hours ago
- Business
- Business Wire
Small Business Sales Growth Inches Higher in May Despite Lingering Uncertainty
MILWAUKEE--(BUSINESS WIRE)-- Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology, has published the Fiserv Small Business Index for May 2025, with the seasonally-adjusted Index remaining flat at 151. Despite shifting spending patterns as consumers navigate near-term economic uncertainty, small businesses maintained solid year-over-year sales growth of (+3.3%) and total transactions rose (+3.8%). "Small businesses continue to show resilience, with May marking another month of year-over-year growth," said Prasanna Dhore, Chief Data Officer, Fiserv. "Small businesses continue to show resilience, with May marking another month of year-over-year growth," said Prasanna Dhore, Chief Data Officer, Fiserv. "The continued shift toward essential spending is now a defining trend—growing at double the rate of discretionary purchases as consumers are more intentional with their spending.' Month-over-month sales (+0.2%) also grew while declining transactions (-2.7%) reflected lower consumer foot traffic. This is the first decline of this magnitude since February 2023, when transactions fell (-2.5%) compared to the month prior. The May average ticket size increased by (+2.9%) compared to April, reflecting a shifting mix of consumer spend, changing demand patterns, and potentially higher pricing for some goods and/or services. For contrast, in the 12 months prior to May, average ticket sizes declined at a modest average rate of (-0.3%) month-over-month. Service-Based Small Businesses Drive Growth Compared to May 2024, sales of Services (+3.9%) outperformed Goods (+1.9%), a continuing trend for 2025. Growth drivers on a month-over-month basis included the Transportation and Warehousing sectors. On an annualized basis, Manufacturing and Professional Services showed the most momentum. Compared to April 2025, Services (+0.4%) showed modest growth while Goods (-0.3%) declined month-over-month, highlighting the continued consumer preference for experiences and essential services over material purchases. Despite Declining Foot Traffic, Small Business Restaurant Sales Hold Steady Small business restaurant sales grew modestly year-over-year (+1.8%). On a monthly basis, sales (+0.6%) grew while foot traffic (-5.6%) declined compared to April, with full-service restaurants experiencing the most significant drop. Consumers Continue to Be Selective in Retail Purchases Compared to 2024, small business retail sales (+0.9%) grew modestly while transactions (+2.9%) remained positive. The average ticket size declined nearly (2.0%) year-over-year, suggesting consumers are shopping more frequently but spending less per visit. This trend is likely driven by promotional shopping and deal-seeking as households continue to navigate inflationary pressures. Growth was led by Food and Beverage Retailers (+3.9%) and Clothing Retailers (+5.2%). Gasoline Stations (-5.4%) declined year over year due to significantly lower fuel prices while Health and Personal Care Retailers (-1.7%) also fell. On a monthly basis, small business retail sales (-1.0%) declined as consumers became more selective in their purchases. Regional Trends Highlight Broad-Based Small Business Strength Compared to April, small business sales grew in 30 of 50 states, indicating broad, but not universal, growth. The most aggressive month-over-month sales growth was concentrated among smaller states, led by New Mexico (+5.9%), Maryland (+3.2%), and Rhode Island (+3.1%). Year-over-year sales growth was strongest in Washington (+13.3%), South Carolina (+11.3%), and Maryland (+10.1%). Among major metropolitan areas, San Francisco (+10.0%) and Atlanta (+9.5%) were the strongest-performing large cities for small business sales growth year-over-year. Month-over-month sales growth was strongest in Dallas (+2.0%) and Chicago (+1.7%), indicating healthy momentum in key urban markets despite broader consumer caution. About the Fiserv Small Business Index ® The Fiserv Small Business Index is published during the first week of every month and differentiated by its direct aggregation of consumer spending activity within the U.S. small business ecosystem. Rather than relying on survey or sentiment data, the Fiserv Small Business Index is derived from point-of-sale transaction data, including card, cash, and check transactions in-store and online across approximately 2 million U.S. small businesses, including hundreds of thousands leveraging the Clover point-of-sale and business management platform. Benchmarked to 2019, the Fiserv Small Business Index provides a numeric value measuring consumer spending, with an accompanying transaction index measuring customer traffic. Through a simple interface, users can access data by region, state, and/or across business types categorized by the North American Industry Classification System (NAICS). Computing a monthly index for 16 sectors and 34 sub-sectors, the Fiserv Small Business Index provides a timely, reliable and consistent measure of small business performance even in industries where large businesses dominate. To access the full Fiserv Small Business Index, visit About Fiserv Fiserv, Inc. (NYSE: FI), a Fortune 500 company, moves more than money. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and Clover ®, the world's smartest point-of-sale system and business management platform. Fiserv is a member of the S&P 500 ® Index and one of Fortune ® World's Most Admired Companies™. Visit and follow on social media for more information and the latest company news. FI-G
The Star
a day ago
- Business
- The Star
Trump turmoil roils Wall Street macro trading
New York: For anyone on Wall Street still clinging to a time-honoured macro-investing playbook, Trump 2.0 has been a source of endless punishment. Market narratives keep shifting faster than traders can adjust positions. Tariffs are on, tariffs are off – then they're on again. One minute it's 'Sell America', the next 'buy the dip'. Old-school fiscal anxieties land, just as Nvidia Corp sells a vision of AI-driven productivity nirvana. To cap it off, President Donald Trump's unpredictability – trade, foreign relations, taxes and so on – is making life brutal for institutional pros paid to predict the market cycle. And the numbers show it: macro hedge funds are off to their worst start to a year in at least two decades. That confusion was on full display last week. As the US commander-in-chief fumed over the 'Trump Always Chickens Out' jab, and again as a legal ruling threatened his signature tariff weapon, some on Wall Street braced for retaliation. Yet in the end – buoyed by signs of still-solid corporate earnings and bets on economic resilience – Trump's combative posture failed to scare off risk-loving investors. The S&P 500 closed up almost 2% last week, notching a 6% gain overall in May, its best monthly performance since late 2023. High-yield bonds also climbed in May, with an index posting its highest return in 10 months. Difficult dimension 'Macro trading, which has never been easy, has just taken on a whole other difficult dimension,' said Priya Misra, portfolio manager at JP Morgan Asset Management. 'You can still position for a macro trend but you have to absolutely prevent getting whipsawed.' Nothing last week inspires much confidence that the rally is built to last. Traders still see the economy sputtering enough to warrant two US Federal Reserve rate cuts this year, while the inflation risk from tariffs remains as uncertain as ever. At the same time, policy flip-flops, data head-fakes, and the White House's reactive posture have made macro forecasting a bitter exercise. In just six months since Trump's re-election, markets have priced in everything from an economic boom and resurgent inflation to outright recession. These fast-moving narratives are confounding the macro set, including trend-following quants, futures speculators and managers trying to stay ahead of shifting data. The HFRX Macro/CTA Index is down 4.3% this year through last Wednesday, the worst start since at least 2004. 'It's been very hard to filter the noise and get to the signal,' said James Athey, a portfolio manager at Marlborough Investment Management Ltd. 'Many systematic strategies have probably struggled, forced to de risk into falling markets, only to find they had low net and gross risk levels when the market turned so they missed the recovery.' May will go down as a stretch when defensive strategies adopted in the April chaos backfired with rare force. Pain hit value stocks, bearish options, fixed-income havens, trades tied to stagflation – in short, anything premised on the idea that April's volatility would linger or worsen. US Treasuries fell as traders questioned the sustainability of US debt. An exchange traded fund (ETF) tracking long-dated bonds trailed the S&P 500 by the most since 2022. Searching for safety Playing it safe in equities proved costly, too. Defensive shares lagged their cyclical counterparts by 10 percentage points, the second-widest gap since the start of the 2009 bull run. Betting on stagflation-like outcomes – slowing growth and strong inflation – misfired. A Goldman Sachs Group Inc stock basket wagering that scenario tumbled for the worst month in two decades. Prudent defensiveness quickly turned into a liability. Two of the largest ETFs linked to the Cboe Volatility Index, or VIX, each slumped at least 25%, a moment of reckoning for those who have piled into these protective funds this year. Meanwhile, popular buffer funds such as the FT Vest Laddered Buffer ETF – a darling trade of this year that limits downside risk while capping the upside – underperformed. So did derivative-powered ETFs like the JPMorgan Equity Premium Income ETF – strategies favoured by income-seeking investors that attracted billions this year. Amid the twists and turns, retail investors who stayed the course are having a moment of quiet vindication. After a record pace of dip buying in April, US$10bil has since flooded the Vanguard S&P 500 ETF, a favoured destination of retail money. For many investors, the best strategy has been to do nothing, rather than venture into the almost impossible task of figuring out the next Trump turn. Since election day, the S&P 500 is up 2% overall – masking how vicious the whiplash has been, with stocks sinking to the brink of a bear market before a powerful comeback. Another way to frame the market-timing challenge: If you missed the worst five days, you're up over 20% now. If you missed the best five, you're down 16%. To Ed Al-Hussainy, a rates strategist at Columbia Threadneedle, the mistake traders keep making is underestimating the economy's natural resilience. Amid the turbulence, his team is pulling back from aggressive positions. 'There's a great quote that I think comes from the army: 'slow is smooth, and smooth is fast',' he said. 'They use it to train military recruits. Applies to macro traders as well.' — Bloomberg
