Saudi Arabia’s economy is expected to grow by 1.9 percent this year, the International Monetary Fund (IMF) said on Monday, revising down its forecast of 2.2-percent growth from just three months ago, due to expected lower Saudi oil production as the Kingdom has pledged to overcomply with the OPEC+ oil production cuts. In its January update of the World Economic Outlook (WEO) from October, the…
Stock markets are deluded to think the latest threat to the global economy has been removedFollowing the US assassination of Iranian al-Quds commander Qassem Suleimani and Iran’s initial retaliation against two Iraqi bases housing US troops, financial markets moved into risk-off mode: oil prices spiked by 10%, US and global equities dropped by a few percentage points and safe-haven bond yields…
Fears of an escalated conflict between the United States and Iran have quieted in the weeks since a US drone strike killed Qassem Suleimani, but the assassination’s long-term consequences remain the subject of heated speculation. What did US President Donald Trump overlook when he ordered the killing of Iran’s second-most powerful leader?
After years of maintaining a dysfunctional political economy based on sectarianism and rentierism, Lebanon's ruling elites are being confronted with simultaneous financial, economic, and political crises. The question now is how they respond to a reformist movement demanding fundamental change, including a new political settlement.
Global commercial real estate investment by players headquartered in the Middle East is on the increase in 2019 after several years of lackluster activity. According to preliminary Real Capital Analytics data, the volume of direct cross-border acquisitions reached $8.6 billion in the first six months of 2019, 59% higher than the same period during 2018. While this activity is far from the peak…
Turkey’s president, Recep Tayyip Erdoğan, is the epitome of today’s strongman political leader, but his decision to send Turkish troops to Libya may be a step too far. By the time his Libyan gamble sours, as it inevitably will, he will have run out of both luck and friends.
Iran launched missile attacks on U.S.-led forces in Iraq early on Wednesday in retaliation for the U.S. drone strike on an Iranian commander whose killing last week raised fears of a wider war in the Middle East.
Gold and the Japanese yen saw heavy demand as safe haven assets after it was reported early morning that Iran had attacked a couple of US bases in Iraq. Equities tumbled and the US dollar rose as investors sought safe havens in US Treasuries as well. The US 10-year yield slid almost 7 bps to 1.75%, the lowest since December 3.
DUBAI (Reuters) - Saudi Aramco (2222.SE) shares opened up 10% on their Riyadh stock market debut on Wednesday, closing in on the $2 trillion valuation long sought by Saudi Crown Prince Mohammed bin Salman.
Following its targeted killing of Iran's second most powerful leader, the US could well find itself with no alternative but to devote more military resources to the Middle East, a path that could lead to additional Iranian provocations. And that shift would occur at a time of growing challenges to US interests elsewhere in the world.
Mubadala Investment is aligned with Abu Dhabi’s efforts to diversify its economy by investing oil returns into profitable businesses
The post Mubadala Capital seeks to double third-party funds to $6bn appeared first on Gulf Business.
Keynote speech by His Excellency Dr Mohammad Y Al-Hashel, Governor of the Central Bank of Kuwait, at the 14th High Level Meeting for the Middle East & North Africa Region, jointly organized by the Basel Committee on Banking Supervision, the Financial Stability Institute and the Arab Monetary Fund, Abu Dhabi, 11 December 2019.
As finance minister, Mariam Al-Aqeel automatically heads the country’s sovereign wealth fund, Kuwait Investment Authority.
The post New Kuwait cabinet has GCC’s first female finance minister appeared first on Gulf Business.