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Economy, Energy, Markets

ADNOC Gas awards contracts

The $2.1bn contracts are aimed at enhancing LNG supply infrastructure.

ADNOC L&S buys stake in Navig8

The company will acquire the remaining stake in mid-2027.

DAE to acquire Nordic Aviation Capital

The terms of the transaction have not been disclosed.

Emirates’ first A350 takes flight

The airline operated the inaugural flight from Dubai to Edinburgh.

NDMC arranges $2.5bn credit facility

The Shariah-compliant facility spans a tenure of three years.

OPEC projects UAE economy to grow rapidly in 2022

NAFIS..Your Way campaign is aimed at making private sector attractive for the Emiratis.
By TRENDS Desk
March 16, 2022 10:02 pm
  • OPEC released the reports on Tuesday where it credited tourism as one of a factor for the economic growth
  • Further, the rise in crude oil prices would also be a reason for rapid economic growth, said the OPEC reports

OPEC Monthly Oil Market Report has predicted the UAE’s economic growth to quicken in 2022.

It is supported by the strong fiscal policy towards the private sector and a post-COVID-19 recovery in the services sector.

The Report issued on Tuesday said, “The improving tourism sector and increased government support alongside the rise in crude oil prices have strongly supported non-oil private economic activities.”

“The strong private sector is reflected by the UAE’s Purchasing Managers’ Index (PMI), which rose to 54.8 in February 2022 from 54.1 a month earlier”, added reports.

“Private-sector output grew strongly amid a recovery in market demand and increased travel activity”, concluded reports.

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