UAE GDP will grow at a faster rate next year according to World Bank forecasts
World Bank
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Ajay Banga
World Bank acts to boost lending capacity by $30bn over next decade
The bank’s International Bank for Reconstruction and Development arm would lower its equity-to-lending ratio by 1 percentage point to 18%
Abu Dhabi
UAE plays critical role in Egypt economic turnaround with $35bn investment: Report
ADQ’s $35 billion investment in Ras El Hekma development singled out as the turning point in the fiscal fortunes of the country
Boston Consulting Group
UAE economy set for further growth in 2024 as tourism, finance and construction thrive
UAE economy will see continued growth in H2 despite global economic uncertainties
GDP
World Bank raises UAE GDP growth forecast to 4.1% next year
World Bank forecasts for UAE GDP growth have been lifted as economy set to grow
Bahrain GDP
Saudi Arabia and UAE to lead GCC GDP growth in 2024: World Bank
World Bank releases report forecasting GDP in UAE, Saudi Arabia, Bahrain, Oman, Kuwait and Qatar
cash remittance
Remittances to MENA region fall over 5% to $61bn, Egypt slumps while India and Philippines among top recipients
Remittances into the Middle East and North Africa fell during 2023, according to a World Bank report
Climate
World Bank to boost MENA climate financing to $10bn as region eyes $13tn GDP
World Bank will increase climate financing actions as MENA region tipped to see GDP growth to $13tn with green growth strategies
UAE
UAE non-oil economy to grow 4.5% this year: World Bank
The World Bank has announced its UAE economy forecasts for 2023 and 2024
UAE
UAE per capita income hits $48,950, ranks seventh in world
The UAE has the world’s seventh highest per capita national income, according to World Bank data
covid-19
UAE economy will see strong growth in second half of 2023: forecasts
IMF, World Bank and Central Bank of the UAE make economic forecasts for 2023
Turkey
World Bank approves $1bn Turkey earthquake rebuild loan
World Bank offers finance support to earthquake-hit regions of Turkey
Bahrain
In detail: World Bank forecasts 2023 economy growth for UAE, Saudi, Qatar, Bahrain, Oman and Kuwait
World Bank gives detailed breakdown of economies of UAE, Saudi and all GCC countries
Middle East
Middle East and North Africa face water shortage crisis
The Middle East and North Africa will need extra 25bn cubic metres of water a year by 2050
Ajay Banga
Ajay Banga set to become World Bank chief unopposed
The World Bank’s Board of Executive Directors will interview Banga before he is formally appointed
Beirut Rafik Hariri International Airport
Lebanon cancels $122mn Beirut airport terminal over ‘corruption’ scandal
Lebanon had announced the construction of a new terminal at Beirut’s airport last Monday, which was set to welcome about 3.5 million passengers annually by 2027
global economy
Global economy could be staring at a ‘lost decade’: World Bank
The bank said an ambitious policy push is needed to boost productivity and the labour supply, ramp up investment and trade, and harness the potential of the services sector