Daily Business Wrap up: Good times in the UAE

Transcript

00:00Hello and welcome to Gulf News Daily, this is Sudesh and I'll take you through the stories

00:05that are making headlines today.

00:07Guess what?

00:08UAE Central Bank Governor Mubarak Rashid Al-Mansuri has said that good times are here in the country.

00:14He expects country's GDP to grow to 4.2 in 2019 compared to 2.8 in 2017.

00:21So that means good times are here.

00:23Another statement that he gave was that he doesn't expect sanctions against Iran to have

00:29a material impact on banks in the UAE.

00:32Staying with Iranian sanctions, oil prices dipped today by 20 cents to be at 72.97 per

00:39barrel because certain exemptions given by the US to certain countries lifted supply

00:45concerns.

00:46Remember US imposed sanctions on Iran yesterday but also gave exemptions to nine different

00:53countries.

00:54Basically, it's a 180-day exemption of sanctions to countries like China, India, Greece, Italy

01:01and others.

01:02We also saw some fantastic results from Dubai-listed companies like DXB Entertainments and Shua

01:07Capital.

01:08DXB Entertainments visitor traffic rose 33% in the first nine months to September to around

01:142 million people compared to the same period last year.

01:19Shua Capital also came out with fantastic set of numbers.

01:22Shua Capital's net profit for the third quarter to September rose 30% to be at 30.1 million

01:29dirhams, the best quarter it had seen since 2008.

01:33For more, you can log on to gulfnews.com slash business and thanks for watching.