- Turkish power sector looks for COVID-19 restructure 2 June 2020 - Jon Gorvett Once a premium destination for overseas investors, Turkey’s power sector has recently been struggling with the impact of lower-than-expected growth rates, partial market liberalisation and fixed, long-term natural gas contracts. Power generation firms face further stress as the… »
- Climate change and migration – the next big challenge for MENA? 22 May 2020 - The level of disruption caused by the coronavirus pandemic has revealed how ill-prepared governments and international institutions are for anything beyond their routine activities. When normality is once again restored, the world must learn the lessons from today’s events in… »
- How will MENA handle mass urbanisation? 19 May 2020 - Perhaps more than anywhere else in the world, rapid urbanisation in the MENA region will create significant investment opportunities for a variety of domestic and foreign firms. North Africa will see high-volume, low-tech developments, while capital-intensive projects such as rail… »
- Iran: a gas giant with feet of clay 15 May 2020 - After the re-imposition of US sanctions in 2018 sparked a crash in its oil industry, Iran accelerated production of natural gas and gas condensates and expanded gas exports to neighbouring countries less vulnerable to sanctions. However, domestic obstacles and continued limits… »
- Surviving the cure: Morocco adapts to COVID-19 12 May 2020 - As the fallout from the COVID-19 continues, Morocco has sought to manage the effects on its economy through a series of stimulus measures designed to support businesses and workers. Heavily reliant on tourism and industrial exports, the country’s recovery will… »
- Turkey’s economic woes heightened by coronavirus challenges 28 April 2020 - Local and international responses to COVID-19 have impacted key sectors of Turkey’s economy, such as manufacturing, retail and tourism. While the global fall in oil prices will ameliorate some of the country’s current account stress, overall the economy is likely… »
- Renewable energy here to stay – and grow 24 April 2020 - The twin economic shocks triggered by low oil prices and COVID-19 containment measures will have a disruptive impact on renewable energy in 2020 and 2021. Further down the line, however, it will galvanise sector growth, as investors increasingly seek to… »
- Turkey’s banks take the strain 21 April 2020 - Turkey’s banks entered the pandemic with some concerning underlying conditions and may need some significant financial ventilation if they are to come through it in good health. Foreign currency debt, depletion of foreign exchange reserves and political interference has added… »
- The EV revolution and MENA 3 April 2020 - Electric vehicle (EV) uptake will gain momentum in the MENA region over the coming years, particularly in the UAE, Saudi Arabia, Qatar, Jordan and Morocco, as governments continue to push for technology adoption and green energy initiatives. While there is… »
- What the doctor ordered: Pharma drives economic growth in Central Europe 27 March 2020 - Leveraging location, low costs, and strong legacy companies with a skilled labour pool, the pharmaceutical industry is a quiet success story in Central and Eastern Europe (CEE). The sector is a major contributor to exports and R&D spending in several… »
The severity of the economic challenge facing Oman will persist long after the COVID-19 pandemic has receded, requiring the country to rethink its long-term approach to economic development. Vision 2040 remains a top priority for the leadership under Sultan Haitham but with insufficient funds to carry out legacy spending commitments, it will have to rely upon the private sector to drive diversification. This means we could see an acceleration of reforms to attract investment, including further dismantling of foreign investment restrictions, privatisation, closer ties with China and a new tourism strategy.
While the UAE has unveiled a series of stimulus measures to support businesses during COVID-19, the economic fallout of the pandemic has taken its toll on consumer behavior. With many of the country’s key sectors heavily affected by the virus and facing a potentially long period of recovery, businesses will need to adapt to new consumer preferences if they are to encourage a rebound in spending.
**Written and disseminated among select contacts on May 12**
Saudi Arabia announced a series of measures on Monday – including a three-fold hike in VAT from July – to address a sharp deterioration in its financial position. A policy response to the twin crises of lower oil prices and the global coronavirus pandemic was inevitable, but the austerity measures are far-reaching and will hit Saudis at a time when many businesses are already struggling amid severely restricted economic activity.
Rachna Uppal | Senior Analyst | email@example.com
Castlereagh Opportunities Reports
Castlereagh Opportunities Reports
Iran Economic Series
5 Reports each looking at key economic issues in Iran: Inflation, Banking, Corruption, Trade, Budgeting.
3 Reports looking into political and economic relations between Malaysia and GCC countries.