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Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.

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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