UAE’s cabinet approved a zero deficit draft federal budget of AED48.5 billion for 2016, down 0.6 per cent or AED500 million from last year’s AED49.1 billion figure. Standard Chartered Chief Economist Carla Slim spoke to TRENDS and said this was a reflection of the UAE’s decision to rationalise spending as revenues falter, and a signal…

The second edition of arab luxury world opened with a plenary session titled ‘The Future of Luxury’.  Focused on the disruptive impact of digital technologies on the luxury industry, the session also took stock of the market’s new reality in which China, one of the world’s biggest consumers, is facing both an economic slowdown as…