The International Monetary Fund’s (IMF) forecast for the UAE’s economic growth remains unchanged at 3%. That’s despite downgrading its global forecast this year to 3.1%, from 3.3% in July, indicating a risk of a recession. The fund has also adjusted its forecast for 2016, from 3.8% to 3.6%. Its latest World Economic Outlook says the developed world is performing well, but emerging markets are weak, resulting in slower growth.
FNC proposes Euro-Mediterranean and Gulf AI hub at economic forum
The UAE's Federal National Council (FNC) has proposed the creation of a Euro-Mediterranean and Gulf artificial intelligence hub to boost investment, research and cooperation in one of the world's fastest-growing sectors.
UAE calls for stronger Euro-Mediterranean, Gulf cooperation
Federal National Council Speaker Saqr Ghobash has called for closer economic and parliamentary cooperation between Euro-Mediterranean and Gulf countries to help address rapid technological and economic change and support sustainable development.
Dubai's DGCX to launch region’s first Gold Spot T+0 Contract
The Dubai Gold and Commodities Exchange (DGCX) is set to launch a new same-day gold trading contract on Monday, June 22, in a move aimed at making physical gold transactions faster and more efficient.
AD Ports launches new logistics link between UAE and Iraq
AD Ports Group has launched integrated logistics services connecting Khalifa Port with Umm Qasr Port in Iraq, reinforcing commitment to enhancing regional connectivity and supporting existing trade corridors.
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