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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

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.

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