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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Real estate, e-commerce to push UAE growth

By Hilal Mir
March 12, 2023 10:59 pm
  • The UAE economy recorded its fastest growth rate in over a decade despite the global economic slowdown.
  • The IMF expects the UAE’s non-oil economy to grow by about 4 percent in 2023 and accelerate over the medium-term.

Dubai, UAE — The UAE economy recorded its fastest growth rate in over a decade despite the global economic slowdown, with the first half of 2022 witnessing unprecedented growth of nearly 8.5 percent, the country’s Minister of Economy Abdullah bin Touq Al Marri said recently on the sidelines of Investopia 2023 in Abu Dhabi.

The IMF expects the UAE’s non-oil economy to grow by about 4 percent in 2023 and accelerate over the medium-term as ongoing reforms are implemented. This figure will make the Emirates the fastest growing economy in the Arabian Gulf in 2023. TRENDS takes a look at some of the most promising sectors in the UAE economy this year.

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