Businesses in UAE stay optimistic

Businesses in the UAE will adopt a cautious approach to sustain a steady growth trend in 2016 despite a slowdown in the global economy in the wake of record-low oil prices and the geopolitical situation in the region.

Talking to Khaleej Times, industry experts said the UAE economy will stay resilient to headwinds posed by volatile oil and equities, tight liquidity and slowdown in Europe, China and emerging markets. They expressed confidence in the government’s economic diversification policies and said the state’s continued investment in infrastructure projects will keep the economy on growth trajectory in 2016.

Businesses in UAE stay optimistic

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Source: Khaleej Times

Lionel Messi becomes Dubai Expo 2020 global ambassador

With over 80 million followers on social media, and recognition levels above 85 per cent, by international survey respondents, Messi is one of the most influential players in modern football.

Multi award-winning footballer Lionel Messi has on Tuesday been announced as the first Global Ambassador for Dubai’s World Expo, taking on an international role as a champion for Expo 2020 Dubai.

Messi, who yesterday won the coveted Ballon D’Or for a record fifth time, is one of the most widely known footballers in the world. With over 80 million followers on social media, and recognition levels above 85 per cent, by international survey respondents, he is one of the most influential players in modern football.

“Expos are all about focusing attention on issues of global interest and global concern to help imagine a better future,” said Her Excellency Reem Ibrahim Al Hashimi, Director General of Expo 2020. “What better way to do this than by recruiting allies among people who are already working towards better future outcomes?”

Lionel Messi becomes Dubai Expo 2020 global ambassador

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Source: Khaleej Times

A good sign for UAE economy

With Brent crude oil prices hitting an 11-year low of $35.98 (Dh132) a barrel, there is a temptation for oil-dependent economies such as Abu Dhabi to slash their budgets. But the approval of a Dh17.5 billion budget for large-scale capital projects across the emirate next year is a good sign for the economy. The money will be allocated to housing (Dh5.9bn), infrastructure (Dh4.3bn), education (Dh1.8bn), government facilities (Dh614m) and social centres (Dh644m).

Even with falling revenues, it is important to invest in projects like these because some of them will be influential in diversifying the economy away from extractive industries, making the emirate more financially robust by lessening our exposure to global fluctuations in crude oil prices.

Infrastructure investments, in particular, help solve some of the challenges the UAE economy faces by driving productivity growth, creating jobs, enhancing competitiveness, and increasing living standards and social prosperity. These factors are all critical for the country’s long-term progress.

A good sign for UAE economy

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Source: The National

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