Gulf Faces Global Decline; The Maghreb region faces mixed fortunes amid rising inflation; GCC banks emerge strong after pandemic
Troubled times are upon us. Covid-19 continues to test supply chains, inflation is rising and, geopolitically, tensions are rising.
The conflict in Ukraine has launched a new Cold War between the West and Russia, while in the Middle East wars in Syria and Yemen continue, and other countries such as Libya and Lebanon slide from one crisis to another.
In comparison, the six GCC countries have become more stable since the signing of the Al-Ula Declaration in January 2021, ending the Qatari diplomatic dispute.
Higher oil prices have given the six GCC states more fiscal space, allowing them to ease the austerity measures that have dominated the economic agenda since oil prices crashed in 2014.
While it would be bold to suggest that the GCC will entirely avoid the recessionary strains that will be felt by the rest of the world, a more grounded claim is that the region’s solid fundamentals and status as an energy exporter will protect it from the worst of the predicted global recession.
Read why GCC, with its combination of stability and possibilities, will be important market for international companies IN August issue of MEED Business Review.
This month, MEED also presents a special report on Gulf banksand finds GCC lenders in a good mood thanks to strong liquidity and rising profits in line with rising interest rates.
Meanwhile, August’s 21-page Maghreb-focused market discusses project markets and the political situation in Algeria, Libya, Morocco AND Tunisia.
We hope you like it August 2022 edition of MEED Business Review.
Sections to be read in August 2022 edition of MEED Business Review include:
> AGENDA: Gulf states hope to weather next storm
> projects: Long-term plans support project activity
> OPINION: Turbulent times for aviation
> MEED COMMENTS: Mitigating the impact of rising costs /
UAE pins hopes for foreign investment on Adnoc
> MONTHLY BRIEFING: 13 main developments in the region
> BIDEN IN THE MIDDLE EAST: Biden’s trip paves the way for the Saudi-Egyptian causeway
> MEED ECONOMIC ACTIVITY INDEX: Energy prices continue to rise GCC
> GULF BANKING REPORT: Regional banks gasping for air
> ENERGY TRANSITION: Independent water projects maintain momentum
> INTERVIEW: GlassPoint focuses on the industrial process sector
> UK-GCC TRADE: UK begins free trade talks with GCC
> GAS: The success story of Qatar’s scenarios for the LNG sector
> LEADERSHIP: Middle East leaders support carbon credit market
> EXPO: Expo City caters to business purposes
> MAGHREB MARKET FOCUS:
> Algeria avoids diplomatic consequences
> Libya is again divided by the east-west divide
> Rabat suffers from economic exposure
> Tunisia is nearing the end of its rope
> MARKET PRESSURE: Hotel pipeline in Oman supports tourism growth
> MARKET TALK: Envision thinks smart about a green future
> GULF PROJECT INDEX: Gulf project market falls in June
> JUNE 2022 CONTRACTS: Saudi Arabia increases the value of regional agreements
> BUSINESS FORECAST: Finance, oil and gas contracts, construction, power and water