Oil News: Gulf loses steam as optimism over oil producer deal fades. Oil prices fell on Thursday on concerns about oversupply amid a slowing global economy, although strong US gasoline demand helped limit losses. The global oil market will begin re balancing in 2017 when US output declines further under pressure from low oil prices before resuming…
The Dubai Statistics Centre released its January consumer price data for the emirate which showed that transport cost inflation, which accounts for 9 percent of total inflation, fell 4.1 percent year-on-year as the UAE cut gasoline prices in line with falling global oil prices. Housing and utility costs, which account for almost 44 percent of…
UAE Economy : Economic confidence among Mena CEOs falls to 3-year low. UAE likely to ratify federal debt law this year which shall allow federal government to issue bonds to raise bonds. Sovereign funds’ selling could hit $700bn of European stocks. Dubai house prices plummet 11% in 2015, rents hold up. UAE plans to trim…
UAE private sector growth slumps to near 4-year low in January. Perfect storm for UAE small businesses as payments, hiring and confidence all drop The World Bank said that economic growth in Middle East and North Africa in 2015 was lower due to wars and low oil prices. Five years of war in Syria and…
UAE banks report drop in demand for credit. 70% of planned UAE real estate ‘will fail to materialize in 2016. Dubai tourism allure undiminished by New Year’s Eve fire, says tourism chief. Sharjah GDP grows 8%, eyes growth in industrial and retail sectors. Etihad Rail suspends tendering process for phase 2…
