Less bearish

1

WHAT WE’RE TRACKING TODAY

THIS MORNING: Economists pencil in a bigger contraction for GCC economies + Dana Gas shuts down main facilities at Khor Mor

Good morning, everyone. We kick off this week with “a glass half full” kind of morning, depending on which economist you ask.

Our Big Story Today is that the IMF is sounding relatively upbeat (all things considered) on our economy, expecting only a “slightly lower” GDP for 2026, before a strong recovery next year. That’s a rosier read than the one coming from a separate poll of economists, who gave most GCC economies another markdown for the year as the war drags on. The UAE, at least, is expected to hold roughly steady.

However, the real economy isn’t waiting around for the forecasts to sort themselves out: Non-oil foreign trade hit a record AED 1.94 tn in 1H, with exports leading the charge, as the UAE pushes ahead with its CEPA agenda.

Economists pencil in contraction for GCC economies

Surprising exactly nobody, the region’s 2026 just got marked down again: Most GCC economies will contract more sharply this year than forecast three months ago before rebounding in 2027, according to a Reuters poll of economists out over the weekend, as hopes fade that the war will soon end.

Kuwait and Qatar took the deepest downgrades — the poll sees both economies shrinking 8.1% this year. The UAE will hold steady (-0.5%), respondents said, while Saudi (+1.4%) and Oman (+3.1%) will both eke out some growth.

Bond investors understand the calculus: The average sovereign risk premium across Middle Eastern governments jumped roughly 20 bps to 402 bps over Treasuries in the week since the ceasefire broke down, Bloomberg reports — the widest in almost four years, and on pace for the fastest YTD widening since 2018.

Smaller fee pool

The UAE still generated more than half of MENA investment banking fees in the first half of 2026 — but the regional pool shrank sharply. MENA investment banking fees fell 19% y-o-y to a three-year low of USD 757.1 mn, according to LSEG data carried by Zawya. The UAE accounted for 55% of the total, ahead of Saudi Arabia at 25% and Qatar at 7%, as the US-Iran conflict weighed on dealmaking.

Where it hurt: Equity capital markets took the biggest hit, with equity underwriting fees falling 57% y-o-y to a five-year low of USD 69.5 mn as IPOs and follow-on offerings slowed in the second quarter. Debt capital markets were the relative bright spot, with underwriting fees broadly flat at USD 297 mn, while completed M&A advisory fees fell 19% to USD 203.5 mn and syndicated lending fees dropped 16% to USD 187.4 mn.

The league table shifted: Global banks led the regional wallet, with JPMorgan taking the top spot with USD 71 mn in fees, up 21% y-o-y, and a 9.4% share. Citi ranked second with USD 56.1 mn, while HSBC fell to third after its fees dropped 48% to USD 36.7 mn. Barclays was the outlier, with its fees jumping 240% y-o-y to USD 33.1 mn. UAE lenders including Emirates NBD and First Abu Dhabi Bank remained part of the regional fee race but did not break into the top three, according to the ranking.

Dana’s Khor Mor out again

Dana Gas has shut down the main production facilities at Iraq’s Khor Mor gas field after receiving what it described as “credible security threats” amid the escalation in the region, according to a disclosure (pdf). The company did not disclose the nature of the threats or say when production could resume.

BACKGROUND- This is not the field’s first security-driven disruption. While operations remained unaffected after a drone strike in February last year, a subsequent strike on a storage tank in November halted production and caused extensive power outages. The field was also shut for two weeks after the regional conflict started heating up in March before resuming operations in April.

Gulf flight disruptions are back

Cancellations are spreading across the UAE amid regional escalations — Etihad canceled its Abu Dhabi-Kuwait services on 19-20 July; Emirates and Air Arabia scrapped several flights connecting Kuwait with Dubai, Sharjah, and Abu Dhabi; and flydubai canceled one Dubai-Abha service as disruptions at the Saudi airport continued, Gulf News reports.

Foreign carriers are pulling back again: Air Astana halted UAE flights only days after restarting them, while British Airways, Singapore Airlines, and Air Canada have pushed their Dubai returns to October, The National reports. Lufthansa and Swiss are holding off until September. The European Union Aviation Safety Agency, meanwhile, is advising covered carriers to avoid the airspace of Bahrain, Kuwait, Qatar, the UAE, and part of the Gulf of Oman until at least 29 July, with some detours adding 1-3 hours to flight times, according to a travel advisory.

What’s driving the cancellations? The US completed an eighth consecutive night of strikes on Iran after an Iranian attack on a US base in Jordan killed two American troops and left another missing. Iran has since launched fresh attacks on targets in Kuwait and Bahrain, activating air defenses and prompting air-raid sirens in Manama.

Abu Dhabi’s property surge

AED 117 bn — that was the value of Abu Dhabi real estate transactions in 1H 2026, up 112% y-o-y, according to Abu Dhabi Real Estate Center (Adrec) data picked up by the Abu Dhabi Media Office. Transaction volumes rose 61.7% and sales jumped 163.7% in value to AED 86.1 bn across 16.8k transactions. Mortgage transactions reached AED 26.7 bn across 8.9k transactions, up more than 33%.

Foreign money is moving faster: Foreign direct investment into Abu Dhabi real estate reached AED 13.8 bn in the first half, up 309% y-o-y — already exceeding the 2025 full-year total. Non-resident investors from 116 nationalities bought into the market, up from 82 a year earlier, with the UK, China, Russia, the US, Germany, and France among the leading sources.

Investment zones are becoming the growth engine. Abu Dhabi’s zones attracted AED 75 bn in investment in the first half, up 181% from a year earlier, while Adrec approved eight new investment zones, bringing the total to 50. The question now is whether new zones and projects can keep supply moving fast enough to absorb that foreign and institutional demand.

The results come on the back of solid 1Q momentum for Abu Dhabi real estate, which recorded AED 66 bn worth of transactions as demand from end-users and long-term investors continued to support activity. At the time, analysts had penciled in a slight cooldown for 2Q due to what they predicted would be cooled investor sentiment and longer transaction timelines. However, the emirate later moved to freeze rents across residential, commercial, and industrial properties to preserve long-term market stability.

PSA

WEATHER- Temperatures will hit highs of 42°C in Dubai today and 45°C in Abu Dhabi, before dipping to lows of 33°C and 32°C, according to our favorite weather app.

The big story abroad

International dailies are calmer than usual today, with the latest updates in the regional war leading the news cycle.

The US military launched another round of airstrikes against Iranian targets yesterday, marking its ninth consecutive night of strikes, the US Central Command said. The latest salvo follows the deaths of three US servicemembers this week in Jordan and Iraq.

Taiwan’s semiconductor giant TSMC is pouring another USD 100 bn into expanding its Arizona facilities, citing surging, multi-year demand for AI hardware. A major supplier of chipmaker Nvidia, TSMC reported record 2Q results last week and has not ruled out the possibility of issuing new bonds should market conditions prove favorable, its CFO Wendell Huang said.

Spain brought home its second-ever World Cup trophy after triumphing 1-0 over Argentina. The New Jersey showdown proved a stalemate until substitute Ferran Torres secured the winning goal in extra time.

Meanwhile at the box office, Christopher Nolan’s The Odyssey brought in USD 264 mn globally in its opening weekend — the director’s highest-grossing debut so far. The film — the first ever to be shot entirely on Imax cameras — flaunts an all-star cast and garnered widespread critical acclaim.

***

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IMF is less bearish on UAE than most forecasters, says buffers are holding

The UAE’s GDP is expected to be “slightly lower” in 2026 before rebounding strongly next year, the International Monetary Fund (IMF) said in a statement following a staff visit to Abu Dhabi and Dubai. The drag is coming from weaker non-oil activity, with conflict-related uncertainty weighing on tourism, transport, trade, and real estate. Inflation is expected to edge higher this year as rising global food and energy prices feed through.

The recovery case: Assuming a gradual normalization between the US and Iran, the IMF expects activity to pick up in 2H as exports recover and oil production rises, with the economy likely to rebound. It sees recovering oil exports and higher production following the Emirates’ exit from Opec as more than offsetting conflict-related disruption.

The buffers helped contain the hit: The IMF said “sound fundamentals, ample policy buffers, advanced preparedness, and a swift policy response” had limited the damage. It pointed to targeted government support, rerouted trade flows, and the CBUAE’s five-pillar Financial Institution Resilience Package, launched at the start of the war to give banks greater access to reserves and additional AED and USD liquidity.

How that stacks up: The IMF is far less bearish than Moody’s, which forecasts a 7% contraction, and Goldman Sachs, which projects a 5% drop. Instead, the Fund’s outlook sits closest to Oxford Economics’ forecast of a minor 0.2% contraction. The World Bank remains the outlier on the upside, projecting 2.4% growth in 2026.

The public finances are holding: The fiscal balance is expected to remain in surplus, although the surplus will narrow as weaker non-oil revenue and support measures weigh. Higher oil prices, front-loaded dividends, and spending-efficiency measures should help absorb the pressure, while low government debt leaves “ample fiscal space” if the conflict becomes more severe or prolonged.

REMEMBER- The external account remains in surplus too: The UAE entered the year with a current account surplus of AED 300.2 bn, or 13.3% of GDP, in 2025. The IMF expects the surplus to recover from the narrowing over the medium term, with reserves still providing comfortable import coverage.

Banks remain resilient: Capital buffers are well above regulatory requirements, and liquidity remains ample, even after tightening since the conflict began. Credit and deposits are still expanding, although private-sector credit growth is expected to slow alongside weaker non-oil activity.

What to watch: Real estate activity moderated in 1H after several years of strong growth, with uneven pressure across segments and locations, although prices generally hovered either around or above last year’s levels. The IMF said banks’ exposure remains contained but noted that market conditions warrant “continued monitoring.”

The policy prescription: Keep support targeted and ready to scale if conditions worsen while pressing ahead with diversification, deeper trade integration, stronger supply-chain resilience, and investment in technology and human capital.

Non-oil foreign trade hits AED 1.94 tn in 1H 2026

The UAE’s non-oil foreign trade reached AED 1.94 tn in 1H 2026, up 13.1% y-o-y, state news agency Wam reports. Non-oil exports hit a record AED 452.8 bn, up 23.9% y-o-y, lifting exports’ share of total non-oil trade to 23.4% from 21.3% a year earlier. Total trade is now 78.8% above 1H 2022 levels.

Trade diplomacy is pulling its weight: Trade with countries where comprehensive economic partnership agreements (CEPAs) are in force reached AED 304.3 bn in the first half, including AED 66.1 bn in non-oil exports.

ICYMI- The UAE has been on a CEPA kick for a while now, having concluded 37 trade agreements, with 17 already in force. The latest was its Ukraine agreement, which took effect this month and removes customs duties on almost all bilateral trade.

Top partners and sectors: China was the Emirates’ largest trading partner, accounting for AED 180.7 bn, followed by Switzerland with AED 138.4 bn, and India with AED 107.5 bn. Gold was the most traded commodity, accounting for AED 706.2 bn, followed by telecoms at AED 189.7 bn.

Are we up for a record? The UAE is already more than halfway to last year’s full-year trade total. First-half activity was equal to 51% of 2025’s annual trade value, with average monthly trade at AED 322.8 bn and daily flows averaging AED 10.7 bn, according to Arabian Business. Matching last year’s total would require another AED 1.86 tn in the second half.

Fallout from conflict weighs on ADNH Catering’s 2Q results

ADNH Catering’s net income fell 17.1% y-o-y to AED 29 mn in 2Q 2026, as regional tensions triggered client service suspensions, logistics disruption, and higher materials costs, according to its earnings release (pdf) and management discussion and analysis report (pdf). Revenue still rose 6.9% to AED 457 mn.

On a 1H basis: Revenue grew 10% y-o-y to AED 922 mn, but net income dropped 18.9% to AED 60 mn, with its net margin narrowing to 6.6% from 8.8%. The takeover of ADNH Catering KSA contributed AED 86 mn of revenue — more than the AED 84 mn overall increase — while new business added AED 12 mn. The exit from ZadSource, its specialized food and beverage procurement and supply-chain business, reduced revenue by AED 8 mn; the company did not provide further details on the divestment.

The conflict is also slowing the pipeline: New tender flow weakened and contract awards and mobilizations were delayed, although ADNH Catering secured 19 new contracts during the quarter. It ended 1H with 39 new contracts worth AED 77 mn in annualized revenue and retained 98.9% of existing business. Management expects growth to recover once the conflict eases, provided hostilities in the UAE do not return to March-April levels.

Dividends: The board proposed an AED 60 mn interim payout, equivalent to 2.66 fils per share, for distribution in October, subject to shareholder approval. ADNH Catering had previously outlined plans to distribute 8-8.5 fils per share in both 2026 and 2027 through equal October and April installments, suggesting a larger second installment could follow, although future payouts will remain tied to earnings and banknote generation, the firm said.

Adic taps former BlackRock executive Edward Winter to steer real assets strategy

Abu Dhabi Investment Council (Adic) appointed Edward Winter (LinkedIn) as chief investment officer for real assets, Bloomberg reports. Winter will join in September and oversee Adic’s portfolio of fund investments, co-investments, and separately managed accounts across energy, hospitality, and digital infrastructure. He’ll report to Executive Director Saoud Al Mulla (LinkedIn).

About the new hire: Winter’s previous roles include positions at BlackRock, Macquarie, and Global Infrastructure Partners.

Bildco completes AG Group takeover, Dubai Investments raises stake in healthcare player, Symmetry is coming to Dubai

Abu Dhabi National Co. for Building Materials (Bildco) has completed its food-trading takeover, marking its push beyond building materials. The firm announced it had wrapped up its takeover of a 50% ownership stake in Dubai-based AG Group, according to an ADX disclosure.

REMEMBER- Last month, Bildco said it had agreed to acquire the stake in the firm, which trades fresh produce, runs juice production operations, and manages a logistics network serving clients like Emirates Flight Catering, Americana, Majid Al Futtaim, and ADNH Compass. The financial details weren’t disclosed, but it comes as Bildco is looking to build exposure to sectors linked to the UAE’s supply chains and food security, diversifying beyond its core construction materials business.

Dubai Investments secures majority control of Clemenceau Medical Center

Dubai Investments raised its stake in Clemenceau Medical Center (CMC) to 80%, according to a DFM disclosure. The group previously held a 20% stake in the healthcare player, which it snapped back in 2018. Operating out of Dubai Healthcare City, CMC offers specialized medical services, including robotic surgery and PET scans.

Inside the transaction: The value of the takeover wasn’t disclosed, but Dubai Investments is buying the stake from UAE-based Khansaheb Investments and CMC. The takeover is expected to close in 3Q, subject to regulatory approval.

IN CONTEXT- Dubai Investments has been ramping up its healthcare investments in recent years, with stakes in Global Fertility Partners, King’s College Hospital London, and Globalpharma. Last year, Global Fertility Network, in which Dubai Investments holds a 34.3% stake, acquired a majority stake in Saudi-based HealthPlus Fertility Center.

Symmetry to set up shop in Dubai

International hedge fund manager Symmetry Investments has received regulatory approval to operate in Dubai having secured a license from the Dubai Financial Services Regulatory Authority, Bloomberg reports. Faisal Butt, who previously worked at Brevan Howard, will head up its Dubai presence.

BACKGROUND- Dubai has continued to attract asset managers, hedge funds, private equity players, and family offices despite regional instability, with French asset manager Varenne Capital Partners among those recently opening up shop in Dubai International Financial Center.

MENA economy to shrink in 2026 before 6.5% rebound -BMI

BMI has pushed MENA recovery into 2027, projecting the region’s economy will contract in 2026 before rebounding next year. The Fitch Solutions research house said in a webinar attended by EnterpriseAM that it now sees regional GDP contracting 0.7% this year, then rebounding 6.5% in 2027, with almost all of that recovery resting on oil exports, which in turn depend on the reopening of the Strait of Hormuz.

The downgrade tracks a stickier Hormuz and a shift into what BMI calls “messy negotiations.” Washington has reimposed its naval blockade on Iranian ports, and Tehran has moved to shut the strait, through which roughly a fifth of the world’s seaborne oil and LNG normally passes. BMI has put its full-year oil forecast under review and lifted its working range for Brent to USD 80-95 a barrel in 2H 2026, up from the USD 70-80 it had penciled in under its “constructive” scenario. A sustained break above USD 90 would start to embed supply-shortage fears, BMI analysts said.

Even a diplomatic breakthrough buys months, not weeks. BMI expects a one-month test period, followed by at least six to 12 weeks of sustained calm, before tanker traffic returns to levels shippers consider commercially normal. Meanwhile, broader cargo vessels are expected to lag further behind.

What to watch: Oil market sentiment above all and the shape of any Hormuz charge. BMI expects Iran to push for fees on vessels using the strait but rates the chance of a permanent transit toll being widely accepted as low. More plausible is a services-fee structure tied to navigation, traffic management, and environmental protection — the Malacca Strait model — with Oman steering the GCC that way. One wrinkle they flagged is a US security-services fee on ships it escorts could end up normalizing Iran’s own demand for a fee.

The breakdown

The divide comes down to one thing: whether a country can get its exports out through an alternative to Hormuz, with the biggest pain concentrated in economies most dependent on the waterway.

In the contraction zone: Iraq’s economy is expected to shrink 8.5% as collapsing oil exports open a USD 30 bn fiscal gap, Qatar is expected to contract 7.2% as LNG exports remain stranded, and Kuwait is projected to fall by 8.1% as both oil and non-oil activity weaken. Bahrain is in the most vulnerable position, with BMI forecasting the deficit to widen to 8.5% of GDP and debt to exceed 150% as sectors accounting for about 85% of output come under pressure.

Countries with alternative export routes are projected to fare better. Saudi Arabia’s GDP is expected to grow around 1% in 2026 before accelerating to 6.8% in 2027, supported by its Red Sea export corridor and public investment — though disruption to that route from Yemen remains a key risk. Oman is expected to lead the GCC with 3.1% growth thanks to exports through Mina Al Fahl, which bypasses Hormuz, before moderating to 1.7% next year. Further afield, Egypt’s growth is tipped to hover near 5% as portfolio inflows recover, while Morocco is projected to stay above 4% on stronger agriculture and auto exports.

The UAE falls somewhere in between. While it has rerouted some crude exports through Fujairah, weakness in the non-oil economy is projected to leave growth broadly flat this year, which would mark its weakest performance since the pandemic. However, growth is expected to rebound by 11% in 2027 as oil output and trade recover. Like most of BMI’s 2027 forecasts, this recovery assumes Hormuz reopens, since a prolonged disruption would require another revision.

MARKETS THIS MORNING-

Asia-Pacific markets fell sharply in early trading this morning as escalating regional tensions pushed Brent crude prices up and cautious investors sat tight awaiting the upcoming wave of tech earnings. Japan’s Nikkei led regional losses, falling over 4%, and South Korea’s Kospi dropped 3.1%. Wall Street is set to open the first trading day of the week in the red, with major US index futures trading down.

ADX	9,782	+0.0% (YTD: -2.1%)
DFM	5,814	-1.4% (YTD: -3.9%)
Nasdaq Dubai UAE20	4,638	-0.8% (YTD: -5.1%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	3.4% o/n	4.1% 1 yr
TASI	10,717	0.0% (YTD: +2.2%)
EGX30	52,560	-0.7% (YTD: +25.7%)
S&P 500	7,458	-1.0% (YTD: +8.9%)
FTSE 100	10,600	+0.3% (YTD: +6.7%)
Euro Stoxx 50	6,231	-0.8% (YTD: +7.5%)
Brent crude	USD 88.10	+4.6%
Natural gas (Nymex)	USD 2.91	+1.9%
Gold	USD 4,019	+0.7%
BTC	USD 64,376	-0.6% (YTD: -26.6%)
Chimera JP Morgan UAE Bond UCITS ETF	AED 3.69	+0.5% (YTD: -1.6%)
S&P MENA Bond & Sukuk	151.44	+0.1% (YTD: -0.3%)
VIX (Volatility Index)	18.77	+12.2% (YTD: +25.6%)

THE CLOSING BELL-

The DFM fell 1.4% on Friday on turnover of AED 576.3 mn. The index is down 3.9% YTD.

In the green: Taaleem (+1.3%) and Tecom (+0.3%).

In the red: BHM Capital Financial Services (-4.7%), Emirates Reem Investments Company (-4.6%), and Drake & Scull International (-3.7%).

Over on the ADX, the index remained flat on turnover of AED 756.3 mn. Meanwhile, Nasdaq Dubai was down 0.8%.

CALENDAR

JULY

28-29 July (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

SEPTEMBER

1-3 September (Tuesday-Thursday): Middle East Energy, Dubai World Trade Center, Dubai.

7-9 September (Monday-Wednesday): AIM Congress, Dubai World Trade Center.

7-9 September (Monday-Wednesday): International Property Show, Dubai World Trade Center, Dubai.

12-13 September (Saturday-Sunday): Emirates International Congress on AI & Visionary Leadership in Transforming Healthcare, Adnec Center Abu Dhabi.

14-17 September (Monday-Thursday): Arabian Travel Market, Dubai World Trade Center, Dubai.

15-16 September (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

17-19 September (Thursday-Saturday): International Real Estate & Investment Show (IREIS), Adnec, Abu Dhabi.

29-30 September (Tuesday-Wednesday): AFCM Annual Conference, Abu Dhabi.

OCTOBER

4-10 October (Sunday-Saturday): World Space Week, Abu Dhabi.

5-7 October (Monday-Wednesday): AI Everything Global, Adnec Center, Abu Dhabi.

12-14 October (Monday-Wednesday): Airport Show, Dubai World Trade Center, Dubai.

14-15 October (Wednesday-Thursday): Sharjah Investment Forum, Jawaher Reception and Convention Center, Sharjah.

13-15 October (Tuesday-Thursday): Annual Meeting of Global Future Leaders, Dubai.

20-22 October (Tuesday-Thursday): Future Health Summit, Adnec Center Abu Dhabi.

27-28 October (Tuesday-Wednesday): Arab Competition Forum, Dubai.

27-28 October (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

30 October (Friday): Large businesses achieving annual revenues equal to or above AED 50 mn must appoint an accredited service provider for e-invoicing implementation.

Signposted to happen sometime in October 2026:

Abu Dhabi Space Week, Abu Dhabi.

NOVEMBER

2-6 November (Monday-Friday): Dubai Future Finance Week, Dubai.

4 November (Wednesday): Digital Transformation Summit, Sofitel, Abu Dhabi.

9-10 November (Monday-Tuesday): Annual government meetings, Abu Dhabi.

9-12 November (Monday-Thursday): EMEA Council on Hotel, Restaurant and Institutional Education Conference, Dubai College of Tourism, Dubai.

10-12 November (Tuesday-Thursday): Dubai International Electric Vehicle Exhibition & Conference, Dubai World Trade Center.

16-18 November (Monday-Wednesday): World Police Summit, Dubai World Trade Center, Dubai.

18-19 November (Wednesday-Thursday): Touchdown Middle East 2026, Conrad Abu Dhabi Etihad Towers, Abu Dhabi.

25-26 November (Saturday-Sunday): Doers Summit, Dubai Silicon Oasis, Dubai.

DECEMBER

2-4 December (Wednesday-Friday): UN Water Conference, UAE.

4-6 December (Friday-Sunday): Formula 1 Abu Dhabi Grand Prix, Abu Dhabi.

8-9 December (Tuesday-Wednesday): Capital Market Summit, Madinat Jumeirah, Dubai.

8-9 December (Tuesday-Wednesday): Federal Open Market Committee (FOMC) meeting.

8-10 December (Tuesday-Thursday): Abu Dhabi Water & Power Week, Adnec Center, Abu Dhabi.

Signposted to happen sometime in 2027:

1 January: Deadline for large businesses to implement e-invoicing;
1Q 2027: Completion of the first phase of Hassyan seawater desalination project;
1-3 February (Monday-Wednesday): World Governments Summit;
31 March: Small businesses with annual revenues of less than AED 50 mn are obliged to contract with an accredited service provider for e-invoicing implementation;
31 March: Government entities are required to appoint an accredited service provider for e-invoicing implementation;
21-22 April (Wednesday-Thursday): Token2049, Dubai;
1 July: Deadline for small businesses to implement e-invoicing;
1 October: Deadline for governments to implement e-invoicing;
Abu Dhabi’s solar and battery energy facility, combining 5.2 GW of solar capacity and 19 GWh of battery storage, is set for commissioning.

Signposted to happen sometime in 2028:

Artificial Intelligence Summit.

Signposted to happen sometime in 2029:

Sibos 2029 organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Dubai;
Annual Meetings of the World Bank Group and the International Monetary Fund, Abu Dhabi;
The commissioning of the seventh phase of Mohammed bin Rashid Al Maktoum Solar Park.

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Today at a glance

THIS MORNING: Economists pencil in a bigger contraction for GCC economies + Dana Gas shuts down main facilities at Khor Mor

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IMF is less bearish on UAE than most forecasters, says buffers are holding

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Non-oil foreign trade hits AED 1.94 tn in 1H 2026

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Fallout from conflict weighs on ADNH Catering’s 2Q results

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Adic taps former BlackRock executive Edward Winter to steer real assets strategy

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Bildco completes AG Group takeover, Dubai Investments raises stake in healthcare player, Symmetry is coming to Dubai

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MENA economy to shrink in 2026 before 6.5% rebound -BMI

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THIS MORNING: Economists pencil in a bigger contraction for GCC economies + Dana Gas shuts down main facilities at Khor Mor

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IMF is less bearish on UAE than most forecasters, says buffers are holding

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Non-oil foreign trade hits AED 1.94 tn in 1H 2026

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Fallout from conflict weighs on ADNH Catering’s 2Q results

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Adic taps former BlackRock executive Edward Winter to steer real assets strategy

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Bildco completes AG Group takeover, Dubai Investments raises stake in healthcare player, Symmetry is coming to Dubai

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MENA economy to shrink in 2026 before 6.5% rebound -BMI

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