The brothers, who say they are innocent, are accused of having formed an organised criminal network in early 2021 in Romania, as well as in the US and Britain
The global crisis ended an oil and real estate-led boom in the UAE last year, sending the world’s No. 3 oil exporter into its first downturn since 1993. Dubai’s debt woes have weighed on the economic recovery in 2010.
“The sectors of manufacturing, transport, logistics, services, wholesale and retail trade, hotels, restaurants and government services achieved positive growth,” said Arif Obaid Al Muhairi. He did not say whether the gross domestic product increase was in real or nominal terms.
The property sector contributed 11 per cent to the Gulf emirate’s economy in the first six months, Muhairi said, down from 14 per cent for whole of 2009, and 17 per cent in 2008.
Dubai’s non-oil exports and re-exports soared by 46 per cent and 26 per cent, respectively, in the second quarter, while imports jumped 17 per cent, data has showed.
Muhairi predicted last month Dubai’s GDP growth at 2.3 per cent for 2010, well above a 0.5 per cent forecast by the International Monetary Fund.In February, when uncertainties around state firm Dubai World weighed on the market, the IMF said it saw Dubai’s GDP contracting 1.3 per cent in 2010.
The economy of the emirate, which accounts for some 80 per cent of the UAE non-oil trade, expanded 5.7 per cent in real terms in 2008.
Official 2009 GDP data for Dubai are not available, although the IMF estimates a 0.9 per cent contraction.
Concerns about Dubai’s liabilities, have eased after Dubai World reached a deal in September to restructure almost $25 billion of debt. —
The brothers, who say they are innocent, are accused of having formed an organised criminal network in early 2021 in Romania, as well as in the US and Britain
The left-handed batter scored 3369 runs in 136 one-day internationals and 2893 in 140 Twenty20 internationals — both Pakistan records
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The online retailer, which is headquartered in Singapore, has said it has around 108 million monthly active users in the 27-nation EU
The baby girl named Rouh, meaning Soul, suffered respiratory problems and a weak immune system, a doctor at the Emirati Hospital in Rafah said
Specialised teams are currently managing the situation by cleaning up and removing the dead fish
The charges against them include planning terrorist acts, fundraising for the Organisation, and concealing the source and destination of those funds