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World Bank maintains growth forecast for the UAE this year and in 2025
The forecast is attributed to the 4.1% expansion in the non-oil sector
Consumer spending remained resilient in 3Q 2024 despite seasonal patterns
The quarterly performance was driven by the back-to-school sales and an increase in convenience retail
Mubadala Investment trims GlobalFoundries stake by 4.1% in 3Q 2024
ALSO- Irish-US VC firm Continuous Ventures agreed to support the NextGen FDI initiative
FNC approves bumper federal budget for 2025
The budget will see a 12% y-o-y increase in spending
S&P Global upgraded Ras Al Khaimah’s sovereign credit ratings with a stable outlook
The ratings agency sees the emirate growing at 4% from this year to 2027
GDP rose by 3.9% in 2Q
The top drivers of growth in the non-oil sector were the transportation and storage activities
Moody’s revises upwards its forecast for UAE growth to 4.8% in 2025
The UAE is bucking the global trend, with Moody’s expecting EMs’ GDP to slow to 3.8% next year
THIS MORNING: Lulu Retail shares are rising days after its debut + Pure Harvest eyes IPO in 2027
Plus: UAE landed the 26th spot globally and the first among Arab countries on the 2023 Global Knowledge Index
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