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IMF revises UAE’s GDP growth forecast down to 4%
The Fund also cut the UAE’s oil GDP forecast for 2025 to over 2%, down from 6.7% earlier
Saudi crown prince lands in the UAE for the first time in three years
Plus: UAE + Philippines strengthen energy ties
Covestro’s shareholders greenlight Adnoc’s takeover + Fuel prices at their lowest this year in December
Plus: One step closer to a common Arab electricity market
Dubai is getting the Gulf’s first large-scale brewery + ADGM’s assets under management grew more than 200% in 3Q
Plus: Dubai allocated AED 750 mn for R&D
THIS MORNING: Opec+ cuts oil demand growth forecasts for 2024 and 2025 + Emirates prepares for serious talks with Boeing over 777X delays
This is the third month in a row that Opec+ revises down its outlook for global oil consumption
Opec+ extends supply cuts, granting the UAE a higher production quota for 2025
The UAE has been granted a higher production quota of 3.5 mn barrels per day in 2025
Aramco reports lower net income in 1Q 2024
The oil giant will maintain dividend payouts throughout the year
Opec+ steady on voluntary production cuts + Al Mal Capital plans to acquire a Dubai school soon
Good morning, lovely people. We’re nearing the end of a long week, but we get a long holiday next week…
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