Dubai's non-oil sector continues to grow

Tuesday, 9 July 2019 10:42

The non-oil sector in Dubai is experiencing its biggest growth in four years, but it's not leading to the creation of new jobs.

That's according to the latest Emirates NBD Dubai Economy Tracker, which found the highest quarterly average since Q1 of 2015.

The rate of growth also accelerated to a record high since the survey began nine years ago.

However, it's not led to an increase in jobs with the report revealing that the employment is broadly flat as companies keep a lid on their costs.

Among the three key sectors monitored, the strongest overall performance was again registered in wholesale and retail (59.9), although growth slowed for the first time in 2019.

More from Business

Ambani's Reliance Jio considers 2.5% public offering in 2026 India IPO, sources say

Reliance Jio Platforms is considering an initial public offering this year that would float 2.5 per cent of the company, people familiar with the matter said, a move that could make it the country's largest-ever IPO worth more than $4 billion.
Abu Dhabi launches $2 billion 'Global Water Platform'

A $2 billion Abu Dhabi Global Water Platform has been launched to support the global water sector by strengthening water and food security in developing countries.
Ford to offer its first eyes-off driver-assistance system in 2028

Ford Motor has announced on Wednesday it would bring Level 3 driver-assistance systems to market in 2028, allowing drivers to take their hands and eyes off the road while operating on certain highways.
Parkin to manage smart parking at select Spinneys, Waitrose stores

Parkin has signed an agreement to manage parking facilities at six Spinneys and Waitrose supermarkets across the city, as part of efforts to ease congestion and improve access at busy retail locations.