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World economy to pick up in 2016: UAE

  • The global economy is expected to improve by 2016 as Asian countries are growing faster, the United Arab Emirates' (UAE) minister of economy said. "The world economy is definitely going to pick up. For 2016, or the second half of next year, the expectation is that the economy of many parts of the world is going to rise," Xinhua quoted Sultan Al-Mansouri as saying at the World Economic Forum (WEF) Summit on the Global Agenda 2015, that kicked off. He said the current oil price level of around $50 per barrel is a challenge for the UAE and the rest of the world alike. Source: IANS