The International Monetary Fund (IMF) has raised its economic growth forecast for the Middle East and North Africa this year, despite a gloomy global prediction. The regional economy is now expected to grow by 3.4%, up from 3.1% in April. Globally, growth is forecast at 3.1%, compared to 3.2% three months ago. IMF largely blames the negative outlook on Brexit, saying the financial and oil markets started recovering earlier this year, under the assumption that the UK would remain in the EU.
Dubai Properties awards AED 1.1 billion in contracts to advance Villanova community
Dubai Properties, a member of Dubai Holding Real Estate, has awarded contracts worth nearly AED 1.1 billion to Metac General Contracting Co. LLC for the construction of 850 townhouses at Villanova in Dubailand.
Parkin to operate parking spaces near Binghatti developments
Parkin has entered into a multi-year agreement with real estate developer Binghatti Holding, where it will operate approximately 1,200 spaces across selected Binghatti developments.
UAE, Uzbekistan explore partnerships in new economy sectors
The UAE's Minister of Economy and Tourism, Abdulla bin Touq Al Marri, has met with a high-level delegation from Uzbekistan to explore ways to strengthen economic and investment ties.
Dubai and Shanghai trade bodies hold talks to boost business ties
Dubai Chambers has held talks with a major Chinese trade body in Shanghai aimed at strengthening economic ties and increasing trade and investment between the two markets.
Saudi Arabia restores full capacity on East-West oil pipeline
Saudi Arabia has restored full oil pumping capacity through the East-West pipeline to about seven million barrels per day, it said on Sunday, days after providing an assessment of damage on its energy sector from attacks during the Iran conflict.
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What inspired the establishment of the Filipino senior citizens group here in the UAE?
