Monday 20 December 2010

Revenues decline for DIFC firms

The combined revenue of companies in the Dubai International Financial Centre (DIFC) fell by 2.4 per cent last year to US$2.8 billion (Dh10.28bn) compared with the year before, officials said.

The modest decline of what the DIFC described as "gross domestic product" proved the resilience of the centre during the global financial crisis, said Dr Nasser Saidi, the chief economist of the DIFC.

The statistics were revealed in the DIFC Economic Activity 2009 report, which was based on a DIFC survey of 406 companies or about 57.5 per cent of the registered companies at the end of last year.

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