UAE GDP Likely To Grow 2% In 2010
The Arab Monetary Fund (AMF) expects the UAE gross domestic product (GDP) to grow by two per cent this year against a contraction of one per cent over 2009. The periodical bulletin of the Arab Capital Markets performance and economic indicators for the first half of the year said that developments in the Abu Dhabi Securities Exchange and Dubai Financial Market indicated that the consolidated budget, based on the current oil prices, would register a total surplus of Dhs 14 billion as compared to last year, or an equivalent of 6 per cent of the GDP.
Read As a result of the UAE trade mission, headed by Dubai Department of Economic Development (DED), Government of Dubai, and its agencies, to South America early this year, new business opportunities particularly in exports of products and services were explored by local companies.
Read The business jets market in the Middle East is poised for steady growth, with over 200 units expected to be delivered to the region by 2015, according to an estimate released by global research and consulting firm Frost & Sullivan.
Read Global mobile applications sales and downloads are forecast to reach US$15.65 billion by 2013* and Middle East operators and device manufacturers are preparing for a telecoms windfall. As the region’s consumers discover the concept and access the increasing amount of apps and content, many of the established stores are focussing their attention on the MENA region.
Read The International Air Transport Association (IATA) announced international scheduled traffic statistics for July which showed continued strengthening of demand for both passenger and cargo traffic. Compared to July 2009, international passenger demand was up 9.2% while international scheduled freight traffic showed a 22.7% improvement.
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