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Tag Archives: growth

Explainer: Key boosters for UAE’s GDP growth

UAE’s recent moves related to various economic support packages  include: ■ Sweeping visa, labour policy changes ■ Moves to support small and medium enterprises (SMEs) ■ Programmes to boost population and employment growth ■ Reducing business costs ■ Strengthening the investment environment Dubai: The UAE government’s recent move to expand public spending in the context …

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Dubai non-oil trade jumps to Dh645b

Dubai’s non-oil foreign trade rose to Dh645 billion in the first half of 2018, an increase of Dh5 billion from 2017 figures. Dubai’s re-exports registered a Dh24 billion increase, growing by 14 per cent to Dh203 billion, reflecting the emirate’s strength as a re-export hub. Meanwhile, imports touched Dh377 billion …

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UAE financial markets poised for take off

The UAE’s financial markets are solid and will take off again in terms of liquidity and volume of trading due to positive indications from the government and an improvement in the economy, the chief executive of the Securities & Commodities Authority (SCA) said. “I am optimistic because of the incentives …

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RAK Petroleum back in profit

Ras Al Khaimah Petroleum, a UK-based company operating oil and gas concessions in the Middle East and Africa, said on Monday it had returned to profitability, posting a net profit of $54.8 million (Dh201 million) for the financial year 2017. A year earlier, the company reported a net loss of …

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WTO chief calls for calm over tariffs

The World Trade Organization chief warned on Friday that creating barriers to international trade would “jeopardise the global economy,” after Washington slapped steep tariffs on Chinese imports, heightening fears of a trade war. “Disrupting trade flows will jeopardise the global economy at a time when economic recovery, though fragile, has …

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Oman’s economy seems to be in correction mode

Jasim Ali, Special to Gulf News The Omani economy is doing fine in the ongoing environment of continuing socioeconomic challenges. What’s more, multinational agencies are projecting improved performances in the medium-term for the sultanate on the assumption of stronger oil prices. Also, the preliminary projections for 2018 budget assume stronger …

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UAE the best managed economy in the region: IIF

The UAE is the best managed economy in the region, according to the latest regional economic outlook report from the Institute of International Finance (IIF), a Washington based association of world’s leading banks and financial institutions. “The UAE with large financial buffers (estimated at around $670 billion), safe-haven status, perfect …

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