Author: Dr Issac PJ
Dubai’s economy continues to show remarkable resilience and forward momentum, supported by a diversified non-oil growth model, sustained foreign investment, robust tourism performance and a steady rise in population and business formation. A recent analytical note by S&P Global Ratings highlights that Dubai’s strengthened fundamentals are enabling the emirate to withstand global and regional headwinds — even as geopolitical tensions, interest rate cycles and global trade volatility persist. While S&P does not independently rate Dubai, its assessment draws from public data and reflects broad investor interest in Dubai’s macroeconomic outlook.S&P expects Dubai’s real GDP growth to average around 2.9 per cent annually…
Adnoc Drilling on Tuesday reported a net profit of $1.06 billion for the first nine months of the year, up 17 per cent compared to the same period in 2024, on the back of rising activity across onshore, offshore and integrated drilling services operations. Revenue for the period rose 27 per cent to $3.63 billion, driven by higher rig utilisation, expansion in unconventional drilling programmes and a sharp increase in integrated drilling services. Free cash flow surged 174 per cent to $1.2 billion, enabling the company to strengthen shareholder returns while investing in fleet expansion and technology upgrades. Return on equity…
NMDC Energy has reported a 33 per cent year-on-year surge in 9-month revenue to Dh13 billion, driven by strong backlog execution and expanding operations across regional and international energy markets. Net profit increased 5 per cent to Dh951 million, reflecting the company’s sustained project delivery capabilities and operational efficiency.The company’s backlog stood at Dh45.6 billion at the end of September, supported by continued contract wins and project mobilisations across onshore and offshore segments. NMDC Energy’s domestic and international project pipeline grew to Dh61.4 billion during the period, underscoring the company’s diversified growth strategy and market reach.Mohamed Hamad Almehairi, chairman of NMDC Energy,…
Aldar Investment has announced a sweeping Dh3.8 billion exercise to build new homes for the rental sector across Abu Dhabi, underlining its confidence in long-term demand and recurring income streams.The fund will go into residential developments on Al Shamkha and Yas Island — two areas at the heart of Abu Dhabi’s growth plan — while the company also expands into commercial and logistics assets, lifting its develop-to-hold pipeline to Dh17.6 billion.Chief Executive of Aldar Investment, Jassem Salah Busaibe, said the strategy responds to “strong demand for residential rental units, Grade A commercial space and logistics real estate in Abu Dhabi.…
Wealth-holding families in the UAE are moving decisively into the realms of digital assets and artificial intelligence, underscoring the country’s position as one of the world’s most advanced hubs for tech-driven wealth management, a new study from Standard Chartered Global Private Bank reveals.The report, conducted among more than 300 ultra-high-net-worth (UHNW) families and advisers across global wealth centres, shows that 71 per cent of UAE families believe they should strategically invest in digital assets — including cryptocurrencies, non-fungible tokens and tokenised traditional assets — versus 69 per cent globally.Meanwhile, 75 per cent of UAE respondents say they trust AI tools…
The GCC is on the cusp of a decades-long consumer boom, with its young, expanding and increasingly affluent population driving a wave of spending that will eclipse many advanced economies.New research by Oxford Economics forecasts that the region’s consumer sector will outperform global peers for years to come, powered by robust demographics, surging labour participation and sustained migration flows that are fuelling household income and demand across all segments.Oxford Economics’ newly-appointed Head of GCC Macroeconomic Analysis, Azad Zangana, emphasises that youthful populations, high migration and increasing labour participation will fuel both per-capita and aggregate consumption across the region.Zangana notes that one…
India’s economic juggernaut shows no sign of slowing despite global headwinds. The International Monetary Fund (IMF), in its latest Regional Economic Outlook for Asia, projects India to grow at a robust 6.6 per cent in 2025–26 (FY26), up from 6.5 per cent in the previous fiscal year, making it the world’s fastest-growing major economy. The momentum, the IMF said, stems from strong second-quarter performance and the rollout of GST 2.0 reforms that are boosting tax compliance, formalisation, and fiscal efficiency.The Fund’s revision marks an upgrade from its April forecast, underscoring India’s resilience at a time when higher US tariffs and intensifying protectionism…
India and the US are closing in on a long-awaited trade deal that could set the stage for a dramatic expansion of bilateral commerce to $500 billion by 2030 — more than double the current value of $191 billion. Officials say most sticking points have been resolved, even as New Delhi insists it will not rush into any agreement that compromises its economic sovereignty or policy flexibility.A senior government official confirmed that “there has been convergence on most issues, and a deal is in sight.” The comments come amid renewed negotiations between the two countries following several rounds of technical talks…
The UAE has opened a new investment channel for citizens and residents with the launch of its “Retail Sukuk” initiative, enabling individuals to invest in sovereign-backed Islamic financial instruments starting from just Dh4,000.Announced by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of UAE, the programme aims to widen participation in public-sector financing and foster a culture of saving and financial inclusion.In practical terms, the retail version of the government T-Sukuk programme (the T-Sukuk) allows an ordinary investor to lend money to the federal government via a Shariah-compliant…
LuLu Group International, in collaboration with Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of Ajman Land Department and Ajman Tourism Development Department, and Mulk International, has unveiled plans to develop the region’s first mixed-use freehold and freezone retail hub — Mirkaaz Mall by LuLu.The announcement, made following the signing of a Memorandum of Understanding (MoU) at the Middle East Council of Shopping Centres and Retailers (MECSR) event in Dubai, marks a major step in Ajman’s journey toward becoming a key destination for investment, retail, and leisure. The 2.5 million square-foot development, located at T10 Mirkaaz City, will integrate retail,…