Gulf weathers global downturn; Maghreb region faces mixed fortunes amid rising inflation; GCC banks emerge in robust post-pandemic shape

Troubled times are upon us. Covid-19 continues to test supply chains, inflation is surging and, geopolitically, tensions are rising.

The conflict in Ukraine has started a new Cold War between the West and Russia, while in the Middle East the wars in Syria and Yemen rumble on, and other countries such as Libya and Lebanon lurch from one crisis to the next.

In comparison, the six GCC countries have become more stable since the Al-Ula declaration was signed in January 2021, ending the Qatar diplomatic dispute.

Higher oil prices have given the six GCC states more fiscal headroom, allowing them to slacken the austerity measures that have dominated the economic agenda since the 2014 collapse in oil prices.

While it would be bold to suggest that the GCC will altogether avoid the recessionary tensions being 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 shield it from the worst of the predicted global recession.

Read why the GCC, with its combination of stability and opportunity, will be such an important market for international companies in the August issue of MEED Business Review

This month, MEED also presents a special report on Gulf banks, and finds GCC lenders in a bouyant mood thanks to strong liquidity and growing profits in line with interest rates hikes. 

August’s 21-page Market Focus on the Maghreb, meanwhile, discusses the projects markets and political situation in Algeria, Libya, Morocco and Tunisia.

We hope you enjoy the August 2022 edition of MEED Business Review.

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Must-read sections in the August 2022 edition of MEED Business Review include:

> AGENDA: Gulf states hope to weather upcoming storm

> PROJECTSLong-term plans support project activity

> OPINION: Turbulent times for aviation

MEED COMMENTS: Dampening the impact of rising costs / 

UAE pins foreign investment hopes on Adnoc

> MONTHLY BRIEFING: 13 key developments in the region

> BIDEN IN MIDDLE EASTBiden trip clears way for Saudi-Egypt causeway

> MEED ECONOMIC ACTIVITY INDEXEnergy prices continue to buoy GCC

> GULF BANKING REPORT: Regional banks come up for air

> ENERGY TRANSITIONIndependent water projects maintain momentum

> INTERVIEW: GlassPoint focuses on industrial process sector

> UK-GCC TRADE: UK starts free trade talks with GCC

> GAS: Qatar scripts success story for LNG sector

> LEADERSHIP: Middle East leaders support carbon credit market

> EXPO: Expo City caters to business goals


    > Algeria dodges diplomatic fallout

    > Libya is split again by east-west division

    > Rabat suffers from economic exposure

    > Tunis nears the end of its rope

> MARKET SNAPSHOTOman hotel pipeline supports tourism growth

> MARKET TALKEnvision thinks smart for a green future

> GULF PROJECTS INDEX: Gulf projects market declines in June

> JUNE 2022 CONTRACTSSaudi Arabia buoys value of regional deals

BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts


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