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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
FNC approves bumper federal budget for 2025
The budget will see a 12% y-o-y increase in spending
UAE launches centralized KYC platform
A new company overseen by the CBUAE will manage the platform
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
CBUAE to promote tech transformation in the finance sector
Microsoft will provide AI training for 10k professionals in the financial services sector
CBUAE’s T-sukuk for 4Q 2024 was 4.9x oversubscribed
The T-sukuk pooled AED 5.4 bn in bids
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
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