IMF projects UAE economy to shrink 3.9% in 2026
Money & Banking Strait of Hormuz
The IMF projects that the UAE economy will contract by 3.9% in 2026.
What it means: The IMF cut its Gulf forecasts sharply because the Strait of Hormuz has stayed closed.
Source: The National
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Dubai's annual inflation eased to 5.03% in September from 5.54% in August, according to the Dubai Data and Statistics Establishment. The peak for 2026 was 5.7% in June.
What it means: Transport costs rose 14.7% over the year. Fuel for private vehicles rose 37.52% over the year. Housing and utilities rose almost 6.23% as average rents went up in most areas of the emirate.
Source: The National
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The closure of Riyadh's King Khalid International Airport has been extended until 17 October.
Source: The National
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Shipping & Supply Strait of Hormuz
Six commercial vessels were reported struck in and around the Strait of Hormuz on 11 October, according to warnings from UKMTO, the British navy's shipping security office.
What it means: According to US naval shipping data cited by the Joint Maritime Information Center, about 29 vessels a day passed through the strait over a 72-hour period. The historical average is about 138 a day.
Source: gCaptain
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The Emirates Drug Establishment has recalled batch 20251015 of Nin 160 FMB-NML blue three-ply face masks after inspections found foreign material or contamination.
What to do: Stop using masks from batch 20251015 and return them to the point of purchase.
Source: Khaleej Times
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