GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share

Dubai, April 11, 2017: Doha Bank hosted a knowledge sharing event titled “New world order and opportunities” at Jumeirah at Etihad Towers in Abu Dhabi recently. The speakers at the event were Mr. Craig Wing, Partner and Future Strategist at Future World and Mr. Kamal Sharma, Director & G10 FX Strategist, Bank of America Merrill Lynch Global Research.

Speaking at the event Dr. R. Seetharman, CEO of Doha Bank, gave insight on global economy. He said, “According to IMF Jan 2017 global growth is expected to be at 3.1 percent. Advanced economies are now projected to grow by 1.9 percent in 2017. Emerging and Developing economies growth is currently estimated at 4.5 percent for 2017. Recently we have seen Britain has triggered Article 50 and we need to see how Brexit negotiations shape up. We are yet to see progress on initiatives from US on tax and infrastructure. The Fed's monetary tightening continues with its last hike this March. Interestingly most of the emerging economies financial markets are buoyant despite the fed action. At the recent Kuwait meeting the oil producers had agreed to review whether a global pact to limit supplies should be extended by six months based on review of oil market conditions. In response to fed action most of the GCC central Banks have hiked rates in last December and in March this year. Some of the GCC Sovereigns such as Kuwait and Oman have come up with bond issues this year and fiscal reforms are going to continue in GCC. The progress is also happening on VAT implementation across GCC. Taking these developments into consideration we need to anticipate what policy shifts could do for the world and regional economic outlook. There are risks associated with political uncertainty, trade frictions and adverse effects of a rising dollar. The capital rules for Banking sector getting redefined and the financial markets are getting more volatile on account of the changing dynamics. We're entering a new stage of international relations where national policies could shape how globalization eventually develops.”

Giving insight on key developments in the UAE economy, he said, “The UAE economy expected to grow by close to 3 percent. Non-oil sectors grew 3.6 percent year on year in 2016 and could grow further this year. The UAE banking sector had witnessed a lending growth of 5.2 per cent 2016 with private sector being a major contributor to growth close to 5 percent. Total investments in the UAE's industrial sector rose to Dhs130 billion by end of 2016. As part of Abu Dhabi's Economic Vision 2030, the contribution of the non-oil sector is aimed to be 64 per cent of GDP. Abu Dhabi in 2016 had set a target to double the size of its industrial base to 10 per cent of GDP by 2030. Abu Dhabi's 10 biggest projects with a combined value of Dh134 billion are expected to be completed by 2020. The trade balance between Qatar and UAE had reached $7bn in 2015. Qatar and UAE look for diversifying investment opportunities in the tourism, logistics and IT sectors. In Abu Dhabi affordable housing witnessed significant activity in 2016. The economic diversification in UAE is expected to continue amidst low oil prices which contributes to resilience of UAE economy.”

Mr. Craig Wing spoke on “Thriving inside the perfect storm”. He highlighted the emerging trends from digitization, climate change. He gave insight on internet breakthrough and on internet of things and impact from artificial intelligence. He also gave comparison between bitcoin and gold. The impact of experienced economy and how to embrace future.

Mr. Kamal Sharma spoke on “Tweets and Tuns”. He gave insight on significant global developments, key factors impacting US dollar, US actions on growth, protectionism and tax cuts. He also highlighted that “Hard Brexit” looms and developments impacting, Pound, Euro and Yen.



Posted by : GoDubai Editorial Team
Viewed 36630 times
Posted on : Tuesday, April 11, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : National Bonds Boosts Financial Happiness, Registers 75% Increase in Regular Savers in 2016
Next Story : Dubai Islamic Bank 1st Quarter 2017 Net Profit reaches AED 1.042 Billion
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Sports Bras Banishing Bounce by 83% arrive in store
Malabar Gold & Diamonds makes historic gain Opens 11 showrooms in a day across 6...
IKEA Welcomes Children in-store to Spread Love for the Arabic Language as Part o...
AIGNER Love
We Sheet You Not! Foreo Announces End of Face Mask Epidemic
Transform Your Skin In 2018 with QNET's Revolutionary Elixa Skincare
Experience the ultimate beauty extravaganza as MyBeautyFest kicks off with the i...
New Year, New Skincare!
Michael Kors Presents Spring 2018 Watches
Signature Scents for Your Home
Garden Party Style and Cult Classics: Swatch Launches Spring-summer 2018 Collection
Spring/Summer 18' Beauty Picks from Missha Cosmetics
Marine Torpilleur Military made for men who chart their own destiny
Corum Bubble Art For Those Who Appreciate A Work Of Art
Shimmering Gilda takes on a silvery sheen
Land Rover's 70th Anniversary Begins With Restoration of ‘Missing' Original 4x4
New Year – New Savings now with Al-Futtaim Honda
Mido's Baroncelli Prisma - A sparkling play of prisms enhanced by 51 diamonds'
Samsung Delivers Vision for Open and Intelligent IoT Experiences to Simplify Eve...
Samsung Electronics' 2018 Smart TVs Become First to be Industry-Certified for En...
Malabar Gold & Diamonds strengthens its global position as a leading jewellery r...
The Trésor Collection
Dubai Culture Organises ‘Carnival of Ideas'
EUROSTAR presents seven global tech majors at CABSAT 2018
Nissan reaffirms importance of electrification at World Future Energy Summit
Nissan and NASA extend research into autonomous mobility services
ESC's INDIASOFT to Bring Over 400 ICT Foreign Buyers To Bengaluru
Dubai Tour team line-up announced: 16 teams of seven riders at the start
“12th Edition of SNF's Family Fun Fair”
Defender Lives on: Land Rover Launches V8 Edition To Celebrate 70th Anniversary
Governments to Signal Support for IRENA Key Role in Global Energy Transformation
Renault-Nissan-Mitsubishi Launches a Venture Capital Fund to Invest Up to $1 Bil...
Mashreq Bank offering credit cards for every passion
Dallas Picks Ericsson for Smart Cities Traffic Solution
Womenswear Preview and Showroom Connection: WHITE Man & Woman's Formula Bets on ...
HH Sheikh Hasher Bin Maktoum Al Maktoum opens CABSAT 2018
The Balmain de Balmain Moon Phase Collection - loves personalisation to the moon...
LG's Award-winning 4k Uhd Projector to Debut at CES 2018
His Highness Sheikh Hasher bin Maktoum bin Juma Al Maktoum Visits du's Stand on ...
Masdar unveils locally manufactured all-electric Eco-Bus at Abu Dhabi Sustainab...
Dubai Health Authority Director-General chairs brainstorming meeting, reduction ...
Dubai Outlet Mall celebrates DSF 2018 with amazing attractions for shoppers
British Group GFG Alliance makes binding offer to buy Aluminium Dunkerque from R...
Krypto Labs named Strategic Partner for World Future Energy Summit's CLIX
IRENA Commission to analyse how energy transformation driven by renewables will ...
IBM signs US$85 million private cloud managed services agreement with Emirates a...
Princess Reema hopes to see a woman in every Saudi sports federation
Dubai's Star Business Centre becomes the first commercial centre to accept crypt...
ENEC CEO: Barakah will be the first nuclear energy plant in the Arab world, sett...
Qualcomm and Ford Collaborate on C-V2X Global Initiative to Improve Vehicle Safe...