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

Summary daily of daily updates
    • 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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