00:00Hello and welcome to Gulf News Daily Business Wrap-Up. Not encouraging words coming there
00:06from the International Monetary Fund head, Christina Lagarde. She's in town for Arab
00:11Fiscal Forum and she made this comments on Saturday when she said that the Arab world
00:19is yet to recover from the 2008 crisis. The growth is modest whereas the outlook is uncertain.
00:27She sat on the sidelines while talking to reporters. She says that the public debt is
00:31high. It's about 84% in 2018 compared to 64% in 2008. She calls for more in terms of using
00:41renewable energy as part of the Paris Climate Agreement. According to a Bloomberg survey,
00:46there is one in three chances of UK coming into recession this year. The probability
00:51of two consecutive quarters of negative growth has increased to 30%, the highest since end
00:57of 2016. The survey of 10 economists found that's up about 25% a month ago. It was 20%
01:04or lower for all of 2018. According to Emirates NBD, emerging market equities are likely to
01:11gain 8.6% in 2019 compared to 6% gain in developed market equities. This is because of higher
01:22growth expectations in Asia, specifically India, where the millennials form about 34%
01:30of the total population and that is expected to boost consumption and therefore the sensex
01:35which is the barometer for equity indices.
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