Summary of daily updates for period 24th to 31st Jan 2016
- 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.
Terms & Condition | Privacy Statement