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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
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…
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
CBUAE brings down GDP growth outlook to 1.6%
On the flip side, it raised its prediction for 2027 GDP growth
UAE’s GDP growth slows down in 1Q
Financial services came out on top as the biggest growth engine
IMF is less bearish on UAE than most forecasters, says buffers are holding
The UAE’s balance sheet is buying it room, but the non-oil slowdown and softer real estate market remain the weak…
THIS MORNING: A better-than-expected BoP last year + L’imad regroups for deployment
Plus: More bidders are eyeing Mubadala’s Brazil port and Dubai’s GDP was up 2.4% in 1Q
Moody’s holds UAE at Aa2 despite contraction warning, World Bank downgrade
Moody’s expects the UAE economy to contract 7% this year, while the World Bank has more than halved its growth…
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