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In addition, Dubai had become a hub for international business and tourism. [3] However, the global financial crisis of 2008 had a severe impact on Dubai's economy. House prices in the Desert Sheikh fell an incredible 40% in the first three months of 2009, outpacing the fall anywhere else in the world after the investment bubble burst. [4]
opec.org. The Organization of the Petroleum Exporting Countries ( OPEC, / ˈoʊpɛk / OH-pek) is an organization enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize profit. It was founded on 14 September 1960 in Baghdad by the first five members ...
Global Peace Index ( GPI) is a report produced by the Australia-based NGO Institute for Economics & Peace (IEP) which measures the relative position of nations' and regions' peacefulness. [ 2] The GPI ranks 163 independent states and territories (collectively accounting for 99.7 per cent of the world's population) according to their levels of ...
The United Arab Emirates is a high-income developing market economy. The UAE's economy is the 4th largest in the Middle East (after Turkey, Saudi Arabia and Israel ), with a gross domestic product (GDP) of US$415 billion (AED 1.83 trillion) in 2021-2023. [ 5] The UAE economy is heavily reliant on revenues from petroleum and natural gas ...
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In New York City, approximately 430,000 jobs were lost and there were $2.8 billion in lost wages over the three months following the 9/11 attacks. The economic effects were mainly focused on the city's export economy sectors. [ 17] The GDP for New York City was estimated to have declined by $30.3 billion over the last three months of 2001 and ...
Dubai has a free trade in gold and, until the 1990s, was the hub of a "brisk smuggling trade" [40] of gold ingots to India, where gold import was restricted. Dubai's Jebel Ali port, constructed in the 1970s, has the largest human-made harbour in the world and was ranked seventh globally for the volume of container traffic it supports. [154]
Despite a general slump in the global gold market, Dubai's share of value of trade in gold and diamonds to its total non-oil direct trade increased from 18% in 2003, to 24% in 2004. In 2003, the value of trade in gold in Dubai was approximately Dh. 21 billion ( US$ 5.8 billion), while trade in diamonds was approximately Dh. 25 billion ( US$ 7 ...