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UAE economy contracts 2.1% in 2Q as war hits non-oil activity
Tourism, transport, and trade took a hit as non-oil GDP shrank 1.1%, leaving first-half economic growth barely in positive territory
War puts regional growth heads on the path to a contraction
It’s not all bad news for regional growth prospects this year, with windows of opportunity in sectors like AI offering…
THIS MORNING: Wartime loan deferrals reach AED 15.9 bn + ADIB shareholders give thumbs up to rights issue
Plus: UAE-based school operator Alephya eyes KSA’s Ajialuna
THIS MORNING: PMI holds steady + Guinea bauxite is finding its way back to EGA
Plus: Eagle Hills announces its latest plans for Syria
Overseas moves from logistics players, more AED for public transport and Dubai CommerCity, CBUAE pushes on regional collaboration
DP World opened a 10k sqm distribution center in Bang Na, Thailand, expanding its Southeast Asian warehouse network across Malaysia…
Fitch holds RAK at A+ but keeps negative outlook as war weighs on growth
Growth is set to slow to 1.5% this year as weaker trade and tourism and a delayed, pricier Wynn resort…
CBUAE brings down GDP growth outlook to 1.6%
On the flip side, it raised its prediction for 2027 GDP growth
THIS MORNING: L’imad set to be main driver of Hormuz bypassing + EGA shifts more exports to the east coast
Plus: Chinese autonomous-driving player Momenta Global is set to bring robotaxis to Dubai in 2027
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