Summary of daily updates for period 24th to 31st Jan 2016

  • Feb 03,2016
  • All

    • 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 of UAE rail network.
     
    • Emirates ID replace health insurance, ATM cards; driving license next.
     
    • UAE's Lulu named among world's fastest growing retailers.
     
    • Dubai reveals plan for world's largest wellness project.
     
    • Iran set to buy 127 Airbus planes. Hurdles remain as Iran seeks aviation investment. Gulf airlines squeezed by Iran tensions. Iran, China agrees to increase trade to $600bn in the next decade.
     
    • Saudi eyes foreign non-oil investment as crude slumps. Saudia (Saudi’s main airline) is planning $1.3bn bond in Q2 to finance new planes. Saudi reforms ambitious, challenging. Saudi consumer spending growth slowing.
     
    • Kuwait sees tough 2016; oil at $40-60 till 2020. Kuwait forecasts $40 billion budget deficit.  Kuwait is planning $100bn new sovereign wealth fund.
       
    • Bahraini businessmen warn of private sector layoffs. Bahrain to lift energy subsidies ‘gradually’ over four years.
     
    • Egypt increases tariffs on range of imports.
     
    • Oil rises towards $34 on chance of production cut. Within OPEC, Iran is a challenge to any deal on oil cuts.
     
    • Mideast buyers invest $5.22bn in European hotels.
     
    • Iraq needs $1.56bn to finance humanitarian crisis caused by war against ISIL.
     
    • China set to adopt 6.5-7 percent growth target range for 2016-sources.

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