DUBAI Dubai expects to almost halt the growth of state spending this year as revenues expand more slowly because of the emirate's efforts to stimulate business investment, according to the 2019 state budget released on Tuesday.
* 86 pct of deficit to be covered via local and foreign
* Dubai is world's worst 2018 performer in local currency
* Oil output restraint from Q1 to hit headline GDP
(Adds analysis of outlook for 2019)
* Year-end holidays cause lowest Saudi trading volume in
DUBAI Saudi Arabia is slowing a drive to cut its huge fiscal deficit in order to revive the economy, but the state budget plan for 2019 suggests it may not have room to boost growth by much.
Iran is intervening in the foreign exchange market and threatening speculators to engineer a dramatic recovery of its rial currency, easing pressure on the oil-exporting economy as Tehran defies renewed U.S. sanctions.
DUBAI Prices for Dubai's residential real estate sank 7.4 percent in the third quarter of 2018 from a year earlier, with the drop accelerating from a 5.8 percent fall in the second quarter, the United Arab Emirates central bank said in a report on Tuesday.
DUBAI United Arab Emirates regulators said they would expand their recognition of investment fund licenses in an effort to persuade more funds to base themselves in the country, in the face of competition for the business from other states in the region.
DUBAI Middle East funds have become more defensive after November's oil price plunge and now expect on balance to trim their equities exposure slightly while increasing their holdings of fixed income, a monthly Reuters poll showed on Thursday.