Middle East tensions likely to spur a mild global recession, with oil potentially hitting $120-$150 per barrel, says a latest report by Oxford Economics.
Oxford Economics predicts 4.4% GDP growth for UAE in 2024
Abu Dhabi, UAE -- Oxford Economics, an independent economic advisory firm, has predicted that the UAE economy will grow by 4.4 percent in 2024, driven by, among other things, government initiatives to support economic diversification. Scott Livermore, Chief Economist, Oxford Economics Middle East, and Managing Director, told WAM that the...
Dow slides, Nasdaq jumps after mixed Fed rate decision
The US central bank, as expected, opted to hold its benchmark lending rate between 5.0 percent and 5.25 percent. But forecasts from policymakers indicated strong support for two more hikes in 2023. Major indices tumbled just after the policy statement was released but recovered somewhat later during Fed Chair Jerome...
Inflation poses new challenges to Middle East, GCC
The global inflation wave -- affecting the US, EU and China and spreading to the Gulf countries -- is forcing common people to look for solutions away from the govt actions.
Easing of restrictions triggers strong rebound in Middle East economies: ICAEW
ICAEW-commissioned report finds business confidence in the region has strengthened Higher oil revenues give Middle East governments more scope to support post-pandemic recoveries Middle East's regional GDP will grow by 2.4% this year, a similar rate to the region’s average growth trajectory in the last decade, and an...
