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FinancialNews


  • 20-03-21

    Dubai to capitalize from resumption in global travel

    (MENAFN)Bank of America Merrill Lynch reported that the UAE could be one of the biggest recipients from a recommencement of global travel in the second half of the year.

    It stated that Dubai-based bank Emirates NBD as its top local play for investors as to “benefit from tourism-driven economic growth, credit demand and asset quality.”

    Egypt was suspended to recoil, particularly if direct flights amid Russia and the Red Sea are restored. Proceeding to the postponement of all flights in 2015, Russians accounted for almost a third of all arrivals.

    MENA economist Jean-Michel Saliba declared that “The UAE's exposure to tourism and global trade, as well as its proactive vaccination program, suggests it could benefit from a global recovery if the COVID pandemic dissipates.”

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