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.
Trump announces 50% tariffs on wide range of Canadian imports
US President Donald Trump has announced sweeping new tariffs of up to 50 per cent on a broad range of Canadian imports, opening a new front in the trade dispute between the neighbouring countries.
ADNOC approves $6.2bn investment to expand UAE gas production
ADNOC has approved a $6.2 billion (AED22.6 billion) investment to develop the Umm Shaif Gas Cap project, as it steps up plans to expand the UAE's natural gas production and liquefied natural gas (LNG) exports.
UAE banks, financial institutions begin issuing Jaywan cards to customers
The UAE has begun issuing Jaywan cards - its first homegrown payment scheme - to customers.
Dubai Customs measures provide more than AED79 million for private sector
Measures and economic packages introduced by Dubai Customs have provided more than AED79 million in liquidity to the 428 companies in the private sector.
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