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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…

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…

More Gulf bank mergers likely, within national borders

Location:

GULF STATES

After a decade of stasis, consolidation in the Gulf Cooperation Council (GCC) banking sector has grown to fever pitch, with rumours about new combinations emerging on an almost…

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…

Turkey-Europe economic and business ties will weaken

Location:

TURKEY

That represented a 1.9-percentage-point (pp) rise in import share and a 0.4-pp fall in export share. Turkey's economic and commercial ties with Europe (EU and non-EU) are strong…

Malaysian budget could face further revision

Location:

MALAYSIA

Government spending cutbacks due to falling oil revenues have underscored Malaysia's deepening economic malaise. Weak export demand and tightening credit could keep growth for…

India’s Gulf ties will face setbacks in the near term

Location:

INDIA

Indian nationals are struggling to maintain jobs in the Middle East as GCC states contend with historically low oil prices as well as the economic fallout of the pandemic. Gulf…

Dubai and Abu Dhabi will consolidate, not compete

Location:

UNITED ARAB EMIRATES

Economic consolidation in the UAE.

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.