Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Uncategorized

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Qatar Airways annual profit $2bn

This was a record 28% jump in annual net profit.

S&P says lackluster tourism to keep Dubai economy down

The coronavirus-driven decline in tourism contributed to 56% of the overall decline.
By TRENDS Desk
October 19, 2021 9:43 pm
  • The economy of the Middle East trade, finance, and tourism hub shrank 10.9% last year
  • S&P expects Dubai's real gross domestic product growth to average about 2% between 2022 and 2024

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, according to S&P.

The economy of the Middle East trade, finance, and tourism hub shrank 10.9% last year, with the coronavirus-driven decline in tourism contributing to 56% of the overall decline, the ratings agency said in a report on Tuesday.

S&P expects Dubai’s real gross domestic product growth to average about 2% between 2022 and 2024.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]