Studies and reports

Dubai Customs hit a new record on Smart Dubai Office’s Happiness Meter scoring 97.49%. This is the highest percentage reached by a government department since the launch of the happiness meter, and is above the 95% bar, which is the targeted percentage for client happiness in Dubai by the year 2020.

Worldwide IT spending is projected to total $3.76 trillion in 2019, an increase of 3.2 percent from 2018, according to the latest forecast by Gartner, Inc.

On a trip to the UAE this month, VMware’s Jean-Pierre Brulard, Senior Vice President and General Manager EMEA, talked about how 2019 will be the year for the UAE to adopt Artificial Intelligence (AI) innovation in order to fuel nationwide digital transformation.

The Fed is slowly coming around to the reality that its own tightening regime and a strong US dollar are increasingly incompatible with financial stability, and it kicked off 2019 with a loudly dovish downshift in its rhetoric. But it may take some time for the Fed to execute a full reversal of its tightening course, and the lack of bright spots elsewhere in the global economy as the year gets under way may mean that the path to a persistently weaker USD is a rocky one in 2019.

Currencies

US Fed looks dovish

The catalyst behind the Euro’s sharp rise against USD on Friday was a report that said Federal Reserve officials are nearing a decision on when to end its balance sheet reduction. This is an important consideration for investors because it will allow them to assess the strength of the Fed’s monetary policy tightening. Ending its program to reduce its balance sheet combined with the decision to leave interest rates unchanged at next week’s meeting on Wednesday, January 30 sends a dovish message to traders, making the U.S. Dollar a less attractive investment.