'Dubai core in excellent shape'

Trade, tourism, air transport, services are all growing

Key sectors of the Gulf Arab emirate of Dubai's economy grew in the first half of the year, top officials said on Tuesday.

"I can really say the core business of Dubai is in very good shape," Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai's Supreme Fiscal Committee, told a news conference.

He declined to say whether the emirate planned to inject more money into the Dubai Financial Support Fund, which was set up to support state-linked firms.

"All the economic indicators are good," Ahmed Humaid Al Tayer, another Supreme Fiscal Committee member and Chairman of Dubai International Financial Centre, told reporters.

"The sectors of trade, tourism, air transport, services, all have seen growth in 2009, 2010 and the first half of this year," he said.

Dubai's trade and property-focused economy expanded by 2.4 per cent in 2010.

"The real estate, of course, I mean there is no quick solution. It will take time," Al Tayer said.

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