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Region to see modest expansion this year amid uncertainty.
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The IMF urged the GCC economies to adjust to the new reality of oil prices, which are expected to remain low for some time.
Scrapping of fuel subsidies to improve fiscal balance in 2015 and 2016
The decline was chiefly driven by the cost of transportation, which contributed a fall of 4.4 per cent in September as a result of the recent withdrawal of fuel subsidies by the government.
The UAE, which currently has 59,000 dollar millionaires, will witness the population of the rich surging to 96,000 by 2020.
Raghuram Rajan says developed countries are adopting monetary policies without consideration for the negative impact they have on the global economy.
Factory output in September rises 5.7% missing forecasts for a 6% rise.
Part of the problem is how economic picture has changed in few weeks.
Chinese President's trip to UK comes at a time of global anxiety about China's slowing growth.
The UAE is now a part of the Sustainable Public Procurement (SPP) programme. This is a global platform of 81 organisations that share experiences in implementing SPP policy around the world.