Dubai’s economy is the result of a decades-long pursuit of diversification which has brought evolution into a variety of offerings – including services, finance and trade – that has made the emirate a cross-continental meeting point for commerce. Dubai has felt the impact of the fall in crude prices since mid-2014, but it now has sectors that can thrive regardless of oil market conditions....
The Middle East
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While in 2015 the world’s emerging countries and fastest-growing economies suffered due to low commodity prices and currency depreciations, Dubai still enjoyed steady GDP growth at around 4% and an increased drive towards consolidating its position as a knowledge-based economy. With a well-diversified model and a set of transformation-oriented projects worth some Dh300bn ($81.7m) in the...
The emirate of Dubai, by virtue of being less generously endowed with hydrocarbons than its regional neighbours, has worked hard over the past several decades to develop a wider, more diversified economic bedrock to power growth. As a result the emirate has several sectors whose growth is not wholly contingent on hydrocarbons revenues, and which continue to prosper in the current environment.
Interviews & Viewpoints | Mohammad Y Al Hashel, Governor, Central Bank of Kuwait (CBK): Interview from The Report: Kuwait 2016
How do you view the resilience of Kuwait’s banking sector in the current economic environment?
Articles & Analysis | Kuwait's banking sector navigates short-term risks to realise longer-term gains from The Report: Kuwait 2016
With a raft of large-scale, government-led development projects on the docket, rising retail deposits and strong support from regulators and other authorities, Kuwait’s banking sector is widely considered to be poised for a period of long-term growth. This follows a difficult period linked to the broader economic volatility that has impacted...
Articles & Analysis | Range of measures to support growth of Kuwait's SMEs from The Report: Kuwait 2016
With low oil prices continuing to take their toll on the Kuwaiti economy, the government is hoping investment in the small and medium-sized enterprise (SME) sector begins to pay dividends. Indeed, there is significant room for growth in Kuwait’s SME sector: it contributes just 3% to GDP, compared to an average of 50% in high-income economies,...