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Emirates NBD Dubai Economy Tracker Index, a key measure of the emirate's private non-oil economic health dipped slightly in July as the pace of employment stagnated, however growth momentum outlook remains robust.
The composite indicator fell marginally to 56.3 in July from 56.5 in June. A reading below 50 suggests that the non-oil economy is generally declining, whereas a reading above 50 indicates that it is expanding.
“While the headline index continues to reflect strong growth in the non-oil economy in July, firms’ margins continue to be squeezed as they lower selling prices, particularly in the trade and hospitality sectors," said Khatija Haque, the head of Mena research at Emirates NBD. "Employment growth remains soft overall.”
Abu Dhabi’s Mubadala Investment Co is opening an office in San Francisco to manage its $15 billion (Dh55 billion) commitment to SoftBank Group Corp’s Vision Fund.
The sovereign fund will wor
The research arm of the Islamic Development Bank [ISDBA.UL] plans to use blockchain technology to develop sharia-compliant products, aiming to support financial inclusion efforts across its member co
Dubai’s Majid Al-Futtaim, the Middle East operator of French retailer Carrefour, is hiring 200 people as it rolls out an ambitious strategy to expand its digital and e-commerce operations, its chief
Saudi Arabia’s Public Investment Fund (PIF) has announced the establishment of a new energy service company, Super Esco, to increase energy efficiency across government and public buildings.
According to estimates from Thomson Reuters, Middle Eastern investment banking fees totalled an estimated $669.2 million during the first nine months of 2017, four per cent less than the value of fee