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.
Warren Buffett steps down as Berkshire chairman, son Howard succeeds
Berkshire Hathaway said on Friday that Warren Buffett will step down as chairman and become chairman emeritus, effective immediately, nine months after handing the CEO reins to longtime lieutenant Greg Abel.
75,000 tourists welcomed during Dubai summer campaign
As many as 75,000 people have visited the UAE under the 'Dubai Invite' campaign, which targeted non-residents with rewards of up to AED 3,000 in hotel stays, dining deals, and more.
China's Huawei sets 2027 launch for new AI chips as it targets Nvidia
Huawei Technologies will launch two new artificial-intelligence semiconductors in 2027, rotating chairman David Wang said on Thursday, as the Chinese tech giant builds up its AI computing business and seeks to challenge USchipmaker Nvidia.
Arab Monetary Fund marks Golden Jubilee in Abu Dhabi
The Arab Monetary Fund will mark its Golden Jubilee in Abu Dhabi on September 28, alongside the 17th Ordinary Session of the Council of Arab Finance Ministers.
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