Private sector economic activity in the UAE gained momentum in March with both business output and new orders increasing at a faster rate than in February, with output rising at the fastest pace since August 2018.
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00:00Hello and welcome to Gulf News Daily Business Wrap.
00:04Private sector economic activity gained momentum in March, its strongest in months, according
00:10to Emirates NBD PMI Index.
00:12Emirates NBD PMI Index for the month of March rose to 55.7 from 53.4 in February, indicating
00:20a rebound in the economy.
00:21We saw a rebound in Saudi as well.
00:24Saudi PMI rose to about 57, its strongest reading in three and a half years.
00:29Jordan is planning to seek a loan of up to $1 billion from the World Bank to revive its
00:34economy and to cut the cost of its debt repayment.
00:36Jordan is planning to ask for a loan of $1 billion to be paid over 30 years over 4% interest.
00:43The US already committed last year to give about $6 billion to Jordan over the next five
00:49years up from $1 billion.
00:51And Saudi and other Gulf countries are also assisting Jordan in terms of an economic package.
00:57And now the news that we are following is that businessmen from the UAE and officials
01:02from the Dubai Chamber will be travelling to Latin America to attend the Global Business
01:08Forum in Latin America from the 9th of April.
01:12And also in Dubai we will be having the annual investment meeting which will be attended
01:16by 14,000 delegates from over 140 countries.
01:20The annual investment meeting will see the presence of Sultans bin Zayed Al-Mansuri,
01:24the Minister of Economy, on the second day.
01:27That's it from me and thanks for watching.
01:28For more, you can log on to gulfnews.com slash business.