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Tag Archives: non-oil sector

Stimulus package will aid in diversification

The new economic stimulus package will accelerate the local economy, further promote economic diversification and build a long-term future for its people, heads of Abu Dhabi’s top industrial firms said. “At the heart of this announcement are initiatives that will attract more innovative talent and across all economic sectors, including …

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Dubai gets record 4.7m foreign tourists in Q1

Dubai welcomed a record 4.7 million foreign tourists in the first quarter this calendar signalling strong growth momentum for the economy, the Department of Tourism and Commerce Marketing (Dubai Tourism) said in a statement on Friday. “Welcoming 4.7 million international overnight tourists from January-March 2018, the emirate posted a stable …

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Fiscal reforms, geopolitics to pressure GCC corporate profits

The GCC’s non-financial corporate sector is expected to face pressure on profitability resulting from fiscal consolidation efforts in the current year and the next, according to ratings agency Moody’s. “GGC governments have done fairly well in balancing reform implementation while preventing any systemic shock to the corporate sector. However, fiscal …

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