Fitch Rates UAE Outlook Stable ‘-AA’
Fitch Ratings Inc., the US credit rating agency, has rated the federal government of the UAE at -AA with a Stable Outlook.
The move reflects...
Understanding The Depth of 2020 Global Recession
Current forecasts suggest that the coronavirus (COVID-19) global recession will be the deepest since World War II, with the largest fraction of economies experiencing...
UAE Central Bank Expects Recovery of Economic Activity in H2 2020
The Central Bank of the UAE, CBUAE, has projected the recovery of economic activity to commence in the second half of the year.
The first...
Resurgence of COVID-19 Could Cause Global Economic Depression
According to the Moody’s Analytics baseline economic forecast, real global GDP will fall by 4.5% this year as a result of COVID-19. Our base...
COVID-19 Risks Outlook: Challenges and Opportunities
Economic distress and social discontent will rise over the next 18 months unless world leaders, businesses and policy-makers work together to manage the fallout...
Dubai Government Agencies To Cut Spending, Freeze Hiring
In response to the coronavirus outbreak, Dubai’s department of finance has directed all government agencies to slash capital spending and halt new hiring until...
Dubai Economy Fines 14 Merchants For Hiking Face Mask Prices
Dubai Economy has imposed fines on 14 merchants, including nine pharmacies in Nad Al Hamar, Al Mizhar, Nad Hessa, Sheikh Zayed Road, Hor Al...
Most UAE Professionals Expect Long Recovery After Covid-19 Pandemic
The number of working residents claiming the pandemic has impacted their businesses has increased considerably over the past weeks
YouGov’s latest data from the second...
Dubai Economy Fines Pharmacies For Tampering With Prices Of Hygiene Essentials
The Commercial Compliance & Consumer Protection (CCCP) sector in Dubai Economy has imposed fines on three pharmacies, in Jumeirah, Al Khawaneej and Mirdif, for...
Dubai Economy Reveals Details Of Closing Down Commercial Establishments, Activities
Dubai Economy has directed commercial establishments in the emirate to close down for two weeks starting today in line with the preventive measures announced...
Economic Impact of COVID-19 Around The World
UK to pay up to 80% of employee wages for those unable to work due to the pandemic.
US lawmakers continue negotiations over...
Severe Global Recession in H1 of 2020, Economists Consensus
A new research note from Deutsche Bank says that in the first half of 2020 the world will experience a “severe global recession”.
Also according...
Dubai Holding, Meraas Unveil $272m Relief Package
Dubai Holding, a global investment holding company, and Meraas, Dubai’s premier developer and operator of lifestyle destinations, have announced the launch of an economic...
Dubai CPI Down By 1.20 In February 2020: DSC
The annual Consumer Price Index, CPI, rate in the Emirate of Dubai dropped by 1.20 percent in February 2020 compared to the same period...
Dubai Launches $400 Million Economic Stimulus Package for Next 3 Months
Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Crown Prince of Dubai...
The Impact of Corona on GCC and The Global Economy
The GCC economy depends heavily on revenues from the sale of oil and its derivatives on the world market. Complicating the situation, the GCC...
Dubai Economy Issues 4,692 Instant Licenses To Date
Registration of ‘Native’ workers can be completed through the Instant License
Instant License do not need the company’s lease and location for the...
New UBS Report Reveals Key Factors for Emerging Markets Competitiveness
UAE economy on a recovery path thanks to ongoing fiscal stimulus measures, spending related to hosting Dubai Expo 2020, rate cuts, and continuing diversification...