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Islamic Finance Briefing - Categorized | Islamic Law / Economics, Performance more

UAE economy to contract 1%

Posted on 16 July 2009

From Kuwaittimes.net: The economy of the United Arab Emirates is likely to contract 1 percent this year, led by a decline in its oil sector as it implements OPEC production cuts, Samba Financial Group said.
Economic growth in the Gulf Arab oil exporter would likely recover to nearly 3 percent in 2010 as global conditions improve and oil production recovers, the Saudi-based bank said in a research note…….Full Article: Source

 
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