Although Dubai is set for a ‘modest’ recovery this year on the back of a high vaccination rate in the UAE and fewer Covid restrictions, but a slower rebound in international tourism could be a drag on the economy until the end of 2022.
UN report says global FDI rebounds to $852bn in H1
A United Nations report has depicted a positive picture of global foreign direct investment during the first half of 2021. As much as $852 billion in FDI was recorded by countries across the world on the back of growing investor confidence.
UAE economy to grow at 2.1% this year, 4.2% in 2022: IIF
The Institute of International Finance (IIF) said that the UAE economy is rebounding from its deepest downturn in decades as oil prices recover and the country’s accelerated vaccination policy has allowed a broad-based reopening of sectors.
UAE banks flush with profit again with improved Q2 performance
The top ten lenders of the United Arab Emirates have shown a health rebound in profitability, with the country’s banking industry improving its performance in the second quarter of 2021.
Saudi budget deficit narrows sharply
Better days for Saudi economy seem to be on the horizon as the kingdom’s budget deficit has narrowed sharply in the first six months of this year.
Global trade poised for strong 2021 rebound
Global trade defied expectations to collapse by 13 to 32% last year 2021 rebound will be dependent on vaccine programmes, easing geopolitical tensions, DMCC says Global trade is set for a strong recovery in 2021, though the recovery will be dependent on the roll out of vaccines and easing geopolitical...
