John Defterios from CNN Arabic reports on how the UAE is cautiously returning back to normality after a tight lockdown to control the spread of Covid-19 infections. The most symbolic move is the re-opening of the world’s biggest shopping mall, Dubai Mall albeit at smaller capacity.
With oil prices still struggling and the IMF predicting a loss of more than USD 250 billion in oil export revenues, Dr Carole Nakhle, CEO of Crystol Energy, cautions against forecasts of rapid recovery. She states that the Middle East and North Africa as a whole will remain hostage to low oil prices for some time because of limited economic diversification.
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