The International Monetary Fund’s (IMF) forecast for the UAE’s economic growth remains unchanged at 3%. That’s despite downgrading its global forecast this year to 3.1%, from 3.3% in July, indicating a risk of a recession. The fund has also adjusted its forecast for 2016, from 3.8% to 3.6%. Its latest World Economic Outlook says the developed world is performing well, but emerging markets are weak, resulting in slower growth.
China's Xi pushes for global AI body at APEC in counter to US
Chinese President Xi Jinping took centrestage at a meeting of APEC leaders on Saturday to push a proposal for a global body to govern artificial intelligence and position China as an alternative to the United States on trade cooperation.
H.H. Sheikh Mansour holds talks with CEO of France’s CMA CGM Group
His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister, has explored ways to enhance cooperation in the maritime shipping and logistics sectors during talks with Rodolphe Saadé, Chairman and CEO of France’s CMA CGM Group.
ADNOC Distribution reports $579 million net profit in first 9 months
ADNOC Distribution has reported a net profit growing by 15.6 per cent year-on-year to $579 million in the first nine months, with an EBITDA increase of 12 per cent to $885 million, its strongest performance since listing in 2017.
TECOM Group’s 9-month shows 20% revenue growth
TECOM Group has announced a 20 per cent revenue growth reaching more than AED 2.1 billion, with a net profit exceeding AED 1.1 billion, marking an 18 per cent year-on-year increase.
DFM reports 212% increase in net profit before tax to AED930.8 million
The Dubai Financial Market (DFM) has announced its consolidated financial results for the nine months ending September 30, reporting a net profit before tax of AED 930.8 million, an increase of 212 per cent compared to the same period in 2024.
