The UAE also ranked 23rd globally in 'Entrepreneurship,' and tops the list for Arab nations.
According to the report, which is compiled in partnership with Bav Group and Wharton School of the University of Pennsylvania, "The World Bank predicts the global economy will grow at the fastest rates it’s seen since the global financial crisis for the next couple of years," adding, that "nations that differentiate themselves are those that have the resiliency and momentum to overcome the challenges."
The UAE received the ranking based on several attributes, including levels of "Distinctiveness", "Difference," "Uniqueness," and "Dynamism."
The UAE also ranked 23rd globally in "Entrepreneurship," and tops the list for Arab nations. The Entrepreneurship sub-ranking relates to how a country is connected to the rest of the world, how educated its population is, its entrepreneurial level and innovation, as well as how it "provides easy access to capital, skilled labour force, technological expertise, transparent business practices, well-developed infrastructure and well-developed legal framework," the study added.
Best Countries is a rankings, news and analysis project created to capture how countries are perceived on a global scale. The rankings evaluate 73 countries across 24 rankings drawn from a survey of more than 20,000 global citizens, measuring 75 dimensions that have the potential to drive trade, travel and investment and directly affect national economies.
Regional and multi-national financial institutions are rolling out digital platforms to transform customer experiences, optimise costs, and meet data regulations. As a result, Clifford Chance says Mena’s Fintech market will top $2.5 billion by 2022.
This is another testament to the success of the country's financial and economic vision and policies, and the strength and stability of its economic, financial and credit sectors.
According to the report, CBUAE noted that the UAE banking system remains strong, with sufficient capitalisation and liquidity reserves, solid financial performance and high operating efficiency.
Global shares stumbled on Friday as hopes of a fiscal boost from a $1.9 trillion US stimulus plan were smothered by the prospect of stricter lockdowns in France and Germany and a resurgence of COVID-19 cases in China.
The Italian government has approved a new stimulus package worth 32 billion euros ($38.8 billion) to prop up the battered economy, pushing this year’s budget deficit significantly higher than previously planned.
Pakistan and Bangladesh are rationing gas and buyers across South Asia are seeking alternative fuels after spot liquefied natural gas (LNG) prices surged to record highs, government and industry officials told Reuters.