The IMF cut its forecast for UAE’s economic growth to 2.5% from 3.0%, with weakening investor confidence and a further drop in oil prices contributing to the revision. Zeine Zeidane, the IMF’s mission chief to UAE, said that they expect a slow-down in growth but not a contraction in GDP. Growth will improve in 2017 as oil prices recover, and as the economy benefits from the lifting of sanctions on Iran and construction for the Expo in 2020 in Dubai, Zeidane said.  The UAE remains in a “strong position” with assets providing a fiscal buffer. (Bloomberg)