Dubai Economic Outlook

Dubai Economic Outlook

Business Confidence in Dubai in Q2 is strong, raising expectations for new projects, orders and hopes for an improvement in market conditions.

Meanwhile, the Business Confidence index (BCI) of Dubai firms grew to 117.5 points during the second Q2 of this year, which is way more than the same quarter of the last year.

Clients in Dubai were more optimistic about the state of the economy compared to six other leading cities in the world. According to a study by the DED revealed in Q2, the (CCI) for Dubai stood at 142 points, which is higher than that of Tokyo, Milan, Paris, New York, Bangkok and London.

The UAE and China have created a united strategic investment fund worth a whopping USD10 billion as the 2nd largest economy chases its ambition to reestablish Silk Road trade routes.

The fund, which will be financed equally by both nations, is set target a range of prospects in different asset classes like Greenfield projects, in which operational facilities are built from scratch.

The fund came after China National Petroleum Corp. closed a strategic collaboration agreement with Abu Dhabi’s Mubadala Petroleum to collaborate on upstream oil and gas investment.

“The launch of this strategic fund with commercial goals builds on the next phase in our partnership in our quest to work in a close way to develop the economies of the two countries,” said Abu Dhabi’s Crown Prince.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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