Middle East & North Africa Economics Update Resilient Gulf unlikely to boost resource-poor economies The Gulf economies are on course to grow at a decent pace this year, but the boost to their resource-poor neighbours is likely to be limited. Trade and investment links are surprisingly small. Instead... 15th April 2013 · 1 min read
Middle East & North Africa Economics Update Saudi slows, but private sector still strong The Saudi economy slowed sharply in Q4, but the breakdown of the GDP data shows that the non-oil private sector remains robust. Looking ahead, fiscal stimulus and rapid credit growth should support... 11th April 2013 · 1 min read
Middle East & North Africa Economic Outlook A Gulf in growth The Gulf economies are on course to outperform the rest of the region over the next year or so. Admittedly, weak oil production will act as a drag on growth in 2013. But increased government spending... 4th April 2013 · 1 min read
Middle East & North Africa Economics Update Gulf economies outperforming March’s PMI data suggest that the Gulf economies’ private sectors continue to grow at a robust pace. Meanwhile, there are signs that the downturn in Egypt has deepened as FX restrictions weigh on... 3rd April 2013 · 1 min read
Middle East & North Africa Economics Update Bond yields spike in Egypt as IMF deal looks further away Yields on Egyptian dollar-denominated bonds have spiked as an IMF deal looks increasingly distant and concerns over the government’s fiscal position mount. 27th March 2013 · 1 min read
Middle East & North Africa Economics Update How much will Saudi Arabia benefit from strong Asian growth? Saudi Arabia’s growing trade ties with Asia bode well for the economy’s growth prospects over the coming years. While we expect advanced economies to remain sluggish, Emerging Asia should grow at... 18th March 2013 · 1 min read
Middle East & North Africa Chart Pack Saudi economy not yet overheating A combination of rising government spending, rapid and accelerating credit growth, and a rise in headline inflation has led some commentators to warn that the Saudi economy is overheating. Looking... 14th March 2013 · 1 min read
Middle East & North Africa Economics Update Egypt's economy still in the doldrums February’s PMIs suggest that the Egyptian economy remains in the doldrums against a backdrop of continued civil unrest. By contrast, the Gulf economies appear on course to grow at a healthy pace. 5th March 2013 · 1 min read
Middle East & North Africa Economics Update UAE equities up on recovery hopes Equities in the UAE have rallied over the past few months on hopes that the economic recovery is gathering pace. Elsewhere in the region, the Egyptian pound has stabilised recently following the CBE’s... 26th February 2013 · 1 min read
Middle East & North Africa Chart Pack Gulf countries cutting back oil production The Gulf economies cut back oil production towards the end of last year against the backdrop of the weakening global economy. But while the hydrocarbon sector may be a drag on growth in 2013, it looks... 21st February 2013 · 1 min read
Middle East & North Africa Economics Focus Gulf overheating fears haven't disappeared Recently announced plans in the Gulf countries to ease fiscal policy to counter the global downturn could lead to renewed fears of overheating in the region. Our core inflation measures suggest that... 18th February 2013 · 1 min read
Middle East & North Africa Economics Update Sluggish Egyptian economy reduces prospect of IMF deal All eyes have focused on the fall of the Egyptian pound since the end of last year. But at the same time, the economy has taken a sharp turn for the worse. This suggests that job creation probably... 13th February 2013 · 1 min read
Middle East & North Africa Economics Update Middle East Markets Monitor (Jan.) The Egyptian pound has fallen sharply over the past month after the Central Bank of Egypt loosened its grip on the currency. We think the pound could fall by a further 10-15% to around 7.5/US$... 29th January 2013 · 1 min read
Middle East & North Africa Chart Pack All eyes on how far Egyptian pound will fall Although Egypt’s constitutional crisis has eased, the currency is now presenting a fresh cause for concern. Our central view remains that Egypt will secure an IMF deal which, combined with a return of... 24th January 2013 · 1 min read
Middle East & North Africa Economics Update Saudi stimulus to keep economy buoyant Our Saudi Activity Proxy shows that the economy picked up modestly towards the end of last year. And looking ahead, government stimulus should keep the economy growing at a healthy clip. 22nd January 2013 · 1 min read
Commodities Update Has the Saudi oil price target moved to $110? We continue to expect the price of a barrel of Brent to drop back below $100 this year, despite recent speculation that cuts to Saudi production signal an increased willingness to allow oil prices to... 17th January 2013 · 1 min read
