The International Monetary Fund (IMF) expects the UAE’s economy to expand at a much faster rate this year compared to 2018.
It says the Emirates’ GDP will grow 4.7 per cent to reach AED 1.67 trillion in 2019.
The positive forecast is mainly driven by rising oil prices and the country’s economic diversification efforts.
The Washington-based agency also predicts the tourist influx linked to Expo 2020 Dubai to play a key role in the UAE’s growth prospects.
Dubai Holding expands hospitality portfolio with acquisition in Mallorca
Dubai Holding, through its subsidiary Dubai Holding Hospitality, has acquired the five-star Jumeirah Mallorca in Port de Sóller, Spain, from Deka Immobilien.
UMEX and SimTEX kick off with major UAE defence deals
The UAE's Tawazun Council for Defence Enablement has announced new defence contracts worth nearly AED 880 million on the opening day of UMEX and SimTEX 2026 exhibitions in Abu Dhabi.
ADNOC Gas signs $3 billion LNG deal with Hindustan Petroleum
ADNOC Gas and its subsidiaries have announced the signing of a 10-year sales and purchase agreement valued at between $2.5-$3 billion with Hindustan Petroleum Corporation Limited (HPCL).
H.H. Sheikh Mohammed visits World of Coffee Dubai
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, toured the fifth edition of World of Coffee Dubai, featuring more than 2,100 exhibitors and brands from 78 countries.
1:00pm - 4:00pm
4:00pm - 6:00pm
