Report
Research Team

United Arab Emirates Coverage Sep 6 - 19

• Number of international tourists rises 1.5% y/y in H1
• Residential market continues to decrease in Q2
• Central bank projects GDP growth of 2.3% in 2018
• Abu Dhabi Islamic Bank to increase lending after capital increase
• Cabinet agrees to lower power consumption fees for industry
• Mubadala to sell 25% of Spain's Cepsa in IPO
• Government approves law granting residency to retired property investors
• Foreign investors buy USD 121.2mn shares on DFM Sep 2 - 6
• Tax authorities begin refunding VAT for tourists in November
• Country's banks lead GCC peers with USD 735bn of assets
• Mubadala to discuss projects in Russia and Middle East with Gazprom Neft
• Banking system expands credit to 10 economic sectors
• Growth of Dubai PMI rises to 55.2 in August
• US financial services company opens office in Abu Dhabi
• Banks' three-way merger is credit positive for banking system, Moody's says
• Mubadala to develop oil fields in Russia with local partners
• Foreign investors buy USD 111.5mn shares on DFM Sep 2 - 6
• Foreign investors buy USD 83.1mn shares on DFM Aug 26-30
• S&P downgrades DEWA and DIFCI because of Dubai's weaker economy
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CEEMarketWatch

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