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Retail banking in the Middle East will be subdued

Location:

MIDDLE EAST

Low global oil prices are weighing heavily on the profitability of the Gulf Cooperation Council (GCC) banking sector. Moody's Investors Service in March downgraded 26 GCC banks…

COVID-19 and oil shocks raise Gulf recession risks

Location:

GULF STATES

Lower oil and gas revenues are the major transmission channel of the global crisis to regional economies, but tourism, financial and professional services are also taking a major…

The Saudi crown prince will relaunch his grand plans

Location:

SAUDI ARABIA

Crown Prince Mohammed bin Salman has started 2021 with a series of bold initiatives to give fresh impetus to visionary investment plans, after a pause because of reputational…

Some Gulf banks may need to consolidate

Location:

GULF STATES

His statement contrasts with broader regional trends. The six states of the Gulf Cooperation Council (GCC) have been overbanked for many years, but buoyant economies provided a…

Prospects for Turkey to end-2020

Location:

PROSPECTS H2 2020

Prospects for Turkey to end-2020.

Morocco’s economy is on the rebound

Location:

MOROCCO

Real GDP growth is on track to be at least 6% in 2020, following a 7% contraction last year. Most sectors have bounced back, though not tourism. High levels of vaccination against…

Egypt’s recession may prove deeper than it appears

Location:

EGYPT

However, labour market figures for this period indicate the effect of the pandemic on the public has been considerably more severe than the GDP data suggest.

Turkey's economic policy shift is not worth the risks

Location:

TURKEY

The lira’s collapse has only fortified President Recep Tayyip Erdogan’s adherence to unorthodox low-interest-rate policies. Rather than changing course, Erdogan has publicly…

Prospects for North Africa to end-2019

Location:

PROSPECTS H2 2019

Prospects.

Oman and Bahrain are the most vulnerable Gulf states

Location:

BAHRAIN/OMAN

Oman and Bahrain, already struggling with rising public debt levels and high fiscal deficits, are in the most exposed medium-term position.