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Markets

SEEKING RECIPROCITY

Heavily criticized by US President Donald Trump for excessive state subsidies, the “Made in China 2025” program has been dragged into Washington’s trade war with Beijing. At the core of the program is technology and artificial intelligence. Last month, a study entitled “China’s AI Development 2018”was released by Tsinghua University,…

ARAB YOUTH: A DECADE ON

Now in its 10th edition, the annual ASDA’A Burson-Marsteller Arab Youth Survey is one of the most important pieces of research produced in the Middle East and North Africa offering unique insight into the attitudes and aspirations of the region’s biggest demographic – its youth. Here are just some of…

THE GCC CORPORATE BOND MARKET

According to a report by ratings agency S&P, the GCC’s corporate and infrastructure bond (sukuk) market remained subdued in the first half of 2018 while GCC corporate and infrastructure bond issuers raised over $7.6 billion in 2017, the market was subdued in the first half of 2018. Five issuers raised…

K.S.A. FIRST QUARTER BUDGET STATEMENT

A May 2018 report by Jadwa Investment says the Saudi government’s 2018 first quarter budget statement shows the government’s efforts to raise non-oil revenue are beginning to work. Revenue Total government revenue totaled SAR 166 billion ($44.27 billion) in Q1 2018, an increase of SAR 22 billion ($5.87 billion) or 15 percent year-on-year.…

THE ECONOMIC OUTLOOK FOR SAUDI ARABIA

Recent developments According to the World Bank, Saudi Arabia’s economy contracted moderately at 0.6 percent in 2017, as oil production was restrained in accordance with the OPEC+ agreement, and non-oil sector growth slowed in the wake of reduced public spending. Early data for 2018 suggests that non-oil gross domestic product…

QUARTERLY OIL MARKET UPDATE

Demand is stable The report says three countries are expected to contribute nearly 60 percent of increases in global oil demand in Q2 2018, with China contributing 28 percent, the United States 14 percent and India 15 percent. These three countries, says the report, will also be the main growth…

GCC BANKS ACHIEVE 6% PROFIT GROWTH

The Boston Consulting Group’s (BCG) annual banking index, released last month, revealed that the GCC banking industry grew in 2017 at 2.3 percent, lower than in 2016. Growth stemmed almost exclusively from retail and corporate banking. While, there was a significant decline in revenue growth,the upside was that banks were…