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 steps up coordination to boost supply chains, trade flow
The Dubai Ports Authority has held a coordination meeting with shipping companies, cargo operators and key partners to enhance the efficiency of container movement and goods through Dubai's ports.
Masdar reaches financial close for $6.1 billion 24/7 clean energy project
Abu Dhabi Future Energy Company, Masdar, has announced financial close for the world's first gigascale 24/7 renewable energy project, marking a defining milestone in the commercialisation of the next generation of clean energy infrastructure.
Volkswagen CEO says 50,000 more job cuts may be needed to close competitive gap
Volkswagen may need to cut about 50,000 more jobs to match the competitiveness of rivals, its CEO told staff in an internal memo, effectively confirming for the first time that the automaker is looking to reduce up to 100,000 positions.
UAE welcomes US decision to upgrade its export control designation
The UAE has welcomed the US government's decision to elevate the UAE to an 'A5' export control designation, highlighting that it advances the decades of bilateral cooperation in technology, security, trade and investment.
Meta scraps AI image feature days after launch following privacy backlash
Meta said it is discontinuing an AI feature launched this week that allowed users to generate images using public Instagram accounts, after drawing widespread criticism over privacy concerns, including from a Hollywood union.
The UAE has strongly condemned renewed hostile Iranian attacks targeting Bahrain, Kuwait and Jordan.
The UAE Presidential Court has announced a four-day period of mourning following the death of Sheikh Hamad bin Khalifa Al Thani, the former Emir of Qatar and father of the country's current Emir.
A fire that broke out at a warehouse in Abu Dhabi's Zayed Military City has been brought under control.
