IMF releases its latest report on the UAE, and Donald Trump to give his State of the Union address after the longest government shutdown in the US. Daily headlines from the UAE and around the world brought to you by Gulf News. See more at: http://gulfnews.com/videos
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00:00Finally, some good news for the UAE economy.
00:04The International Monetary Fund said in its latest report about the country that the economy
00:08is on a recovery path from the lower oil prices.
00:11Oil prices fell from a high of over $110 a barrel in 2014 and have been struggling since
00:17then.
00:18The IMF said in its report that growth momentum is expected to strengthen in the next few
00:22years because of increased investments as well as a boost from the tourism sector with
00:26more visitors coming in for the Expo 2020.
00:29In other news, US President Donald Trump will finally be giving his State of the Union address
00:33this Tuesday after the speech was delayed over the partial government shutdown.
00:37Trump said that unity will be the theme of his first State of the Union address, while
00:41White House officials also added that he will be discussing how to bridge old divisions
00:46and how to unlock the future of America.
00:48And in market news, it's still earnings season here in the UAE and globally, so we're expecting
00:53to see results from poverty companies this week.
00:56We've already seen a bunch of results from the large UAE banks such as First Abu Dhabi
01:00Bank and Emirates NBD, and we're expecting to see smaller banks as well as property companies
01:05report their results this week.
01:07Internationally, Google will be reporting its results as well, so keep an eye on that
01:11and you can find all the news on gulfnews.com forward slash business.
01:15This has been the Daily Business Wrap.
01:16Thank you so much for watching.