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.
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