Abu Dhabi, UAE--Despite geopolitical uncertainties and potential economic headwinds, S&P Global expects GCC banks to maintain their well-capitalised, profitable, and liquid status. S&P Global‘s ‘GCC Banking Sector Outlook 2024’ reveals a challenging yet optimistic perspective. The ratings agency anticipates overall stability in key metrics for GCC banks in 2024. Credit...

Dubai, UAE-- Saudi Arabia's Finance Minister Mohammed Al-Jadaan said the Middle East needs a strong Saudi Arabia to contribute and that the future outlook looked positive despite recent shocks. The minister was speaking at Davos in a session titled "Saudi Arabia: Continuing Efforts towards a More Sustainable Economy". Al-Jadaan said...

Davos-Klosters, Switzerland--Global economic prospects remain subdued and fraught with uncertainty, according to the latest Chief Economists Outlook released today, as the global economy continues to grapple with headwinds from tight financial conditions, geopolitical rifts and rapid advances in generative artificial intelligence (AI). More than half of chief economists (56%) expect...

Dubai, UAE--The IMF announced Friday that it will revise its economic outlook for the Middle East and North Africa region due to the ongoing Israel-Hamas conflict. The conflict will have wide-ranging consequences for "both people and economies" in the region, although the extent of the impact remains "highly uncertain," the...

The carmaker's net profit plunged 7% to US$3.9bn in Q3.

Dubai, UAE-- CEOs from around the world consider geopolitics and political uncertainty as the greatest risk to the growth of their business — be it navigating a company’s presence in a conflict zone or attempting to navigate disrupted supply chains and manage price fluctuations. The conclusion emerged from a survey...

Marrakech, Morocco-- The International Monetary Fund on Tuesday cut its growth forecasts for China and the euro zone and said overall global growth remained low and uneven despite what it called the "remarkable strength" of the U.S. economy. In its latest World Economic Outlook, the IMF left its forecast for...

Riyadh, Saudi Arabia--Standard & Poor’s (S&P) has confirmed Saudi Arabia’s credit rating, both in local and foreign currency, as “A/A-1” with a stable outlook. The confirmation comes in view of Saudi Arabia’s ongoing efforts to implement significant reforms and achieve structural improvements in recent years, which have supported the sustainable...

Abu Dhabi, UAE-- Looking to exchange expertise and explore potential synergies in hydrogen and carbon trading, an industry workshop was organized under the Emirati-German Energy and Climate Partnership. The workshop was organized by the UAE's Ministry of Energy and Infrastructure (MoEI) and the Federal Ministry for Economic Affairs and Climate...

Doha, Qatar--Qatar's non-energy private sector witnessed strong expansion in August on the back of new orders in the manufacturing and financial services, according to the Qatar Financial Centre (QFC). The expansion rate was the third strongest so far in this year, according to the QFC's latest purchasing managers’ index (PMI)...

ABU DHABI, UAE - Chief Investment Officer, Emerging Markets at UBS Global Wealth Management Michael Bolliger forecasts the UAE's gross domestic product (GDP) to stand at 3.5 percent in 2023, rising to 3.9 percent in 2024. In a statement to the Emirates News Agency (WAM), Bolliger shared the bank's positive...

The Kingdom has the highest economic growth among the G20 countries in 2022, driven by strong oil production and non-oil sector growth, says the latest IMF report.

Dubai, UAE-- Airline industry is expected to clock net profits in the region of $9.8 billion in 2023, which is more than double the previous forecast of $4.7 billion, according to the International Air Transport Association's (IATA) outlook for 2023. Airline industry operating profits are expected to reach US$22.4 billion...

BRUSSELS, BELGIUM -  The European Commission boosted its 2023 economic growth outlook for the eurozone on Monday but it also raised the inflation forecast for the single currency area. The EU executive's spring forecast is more optimistic than that issued late last year, despite inflation proving "stickier than expected" in its...

CHENNAI, INDIA - The UAE spoke on food and energy insecurity and their implications in the second Framework Working Group (FWG) meeting within the G20 Finance Track for 2023 held here on March 24 – 25. The meeting was held to discuss the progress made on the 2023 FWG work...

Firm confirmed its 2023 outlook amid strong aviation demand.

Dubai, UAE-- Oil prices fell in early trade on Monday, but held on to most of last week's gains on the prospect of an economic recovery in top oil importer China this year. Brent crude futures retreated by 46 cents, or 0.5%, to $87.17 at 0031 GMT, while U.S. West...

The world, according to the latest World Bank report, may be edging toward a global recession this year. Here is the GDP growth forecast for the GCC countries.

Geneva, Switzerland— The International Air Transport Association (IATA) has upgraded its outlook for the airline industry’s 2022 financial performance as the pace of recovery from the COVID-19 crisis quickens. It expects Industry losses to reduce to -$9.7 billion (improved from the October 2021 forecast for an $11.6 billion loss) for...

Washington, United States—US economic activity eased in recent weeks, while uncertainty and "increased pessimism" clouded the country's outlook amid high prices and rising interest rates, a report published by the Federal Reserve said Wednesday. The Fed's latest "beige book" survey of economic conditions comes as the US central bank pushes on...

Most markets rose on hopes the Federal Reserve would soon slow its pace of interest rate hikes, though the mood was darkened over China after President Xi Jinping tightened his grip on power. The yen weakened against the dollar after a short rally after speculation Japanese authorities had stepped into...

The failure to flesh out her economic plan failed to calm the jittery markets, however, and the pound slid 2.01 percent against the dollar, falling to as low as $1.1241 after her address.

Most stocks fell Tuesday after a Wall Street sell-off fueled by fresh recession worries following a report that Apple planned to ease back on spending due to uncertainty over the economic outlook. While some are predicting inflation may have reached its peak, oil prices continues to hold its strength, despite...

The firm got top rating with a stable outlook from Moody's.

Major stock markets mostly steadied Tuesday, with traders braced for a sharp US interest rate hike to curb soaring inflation. All eyes are on the conclusion Wednesday of the US Federal Reserve's two-day policy meeting, where it is expected to lift borrowing costs by half a percentage point for the...

The Asian region faces a "stagflationary" outlook with economic growth being lower than previously expected and inflation being higher, a senior International Monetary Fund (IMF) official said on Tuesday (Apr 26). "Monetary tightening will be needed in most countries, with the speed of tightening depending on domestic inflation developments and...

S&P has revised its outlook for Saudi Arabia from a stable to positive in the light of the recovery of the kingdom's economy from the pandemic, driven by higher oil prices.

Moody’s has depicted a bleak outlook for sukuks in the current year because of a spike in oil prices and lower financing needs in the GCC.

Fitch Ratings has upgraded to AA(mar)/Stable the rating of Morocco’s Attijariwafa Bank (AWB), one of the five Moroccan banks whose peer review was recently completed by the ratings agency and which account for approximately 77 percent of Morocco's banking system assets. AWB’s rating reflects the bank's extended record of resilient...

UBP Senior Portfolio Manager Fares Benouari has predicted that 2022 would see greater exposure to ESG, automation, and fintech in investment strategies.

Moody’s has forecast a stable outlook for GCC banks during the next 12 to 18 months, primarily due to economic recovery in the region and higher oil prices.

The OECD warned Wednesday that the Omicron coronavirus variant threatens the global economic recovery as it lowered the growth outlook for 2021.

The global aviation sector has begun to emerge from the Covid pandemic, its worst-ever crisis, and the "outlook is starting to brighten", Airbus CEO Guillaume Faury told journalists Monday. A large order of 255 of Airbus' single-aisle A231 planes announced Sunday at the Dubai Airshow "completely justifies" a shift to...

A respite in the crisis surrounding troubled Chinese developer Evergrande also provided some much-needed support to the region.

The agency predicted the Saudi economy will return to positive growth in 2021, and the current account level will return to surplus as the fiscal deficit shrinks in 2021, accompanied by a reduction in the level of debt in the medium term.

Pfizer again lifted its 2021 profit and revenue outlook on Tuesday, bolstered by the latest surge in Covid-19 vaccinations, including regulatory approvals for boosters and shots for younger populations.

S&P has revised up Oman’s credit outlook to positive from stable on the expectation that the sultanate’s reform program will limit increases in government debt in the coming years.

Office 365 has been renamed Microsoft 365, and will be available on Windows PCs, Apple’s Mac machines, and mobile platforms, from October 5, which is when Microsoft will also start the rollout of the Windows 11 OS. For families and households of up to six people, Microsoft 365 Family will...

The developer has reported a surge in pre-sales in the UAE to $2.85 billion S&P Global Ratings give Emaar Properties a stable outlook The Dubai property market might not be booming yet, but the first signs of recovery have begun to appear on the horizon. Emaar Properties, the developer of...