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.
Dubai announces 5% VAT on Salik, Parkin fees
Starting June 1, a 5 per cent Value Added Tax (VAT) will be applied to parking services provided by Parkin and toll tariff and activation fees under Salik.
Dubai Maritime City launches AED160 million maritime business centre
Dubai Maritime City, one of DP World's flagship developments, has inaugurated the AED 160 million premium Maritime Business Centre 2 (MBC-2) that offers high-quality office spaces in the Commercial District of Dubai Maritime City.
Leaders in Abu Dhabi reflect on success of ADIA on its 50th anniversary
His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has affirmed that 50 years of Abu Dhabi Investment Authority (ADIA) represents a strategic milestone in the emirate’s transformational economic journey.
Arabian Travel Market confirms revised September dates
Arabian Travel Market 2026 has been moved to September following consultations with exhibitors and the global travel industry stakeholders.
Sunny intervals
High: 37°C | Low: 27°C
Sunny
High: 38°C | Low: 26°C
Sunny
High: 39°C | Low: 26°C
