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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

UAE GDP growth likely to drop 0.9% in 2023

By Hilal Mir
March 20, 2023 11:28 pm
  • The International Monetary Fund projects that global growth will fall to 2.9 percent in 2023 but rise to 3.1 percent in 2024.
  • Global inflation is expected to fall to 6.6 percent in 2023 and 4.3 percent in 2024, still above pre-pandemic levels, the Jan 2023 forecast said.

Dubai, UAE — The January 2023 World Economic Outlook Update of the International Monetary Fund projects that global growth will fall to 2.9 percent in 2023 but rise to 3.1 percent in 2024. The IMF said the 2023 forecast is 0.2 percentage point higher than predicted in the October 2022 World Economic Outlook but below the historical average of 3.8 percent. Rising interest rates and the war in Ukraine continue to weigh on economic activity. China’s recent reopening has paved the way for a faster-than-expected recovery. Global inflation is expected to fall to 6.6 percent in 2023 and 4.3 percent in 2024, still above pre-pandemic levels, the forecast said. TRENDS takes a look at the economic outlook in the Gulf Cooperation Council countries:

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