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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.
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.
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.
We hope you enjoy the August 2022 edition of MEED Business Review.
Must-read sections in the August 2022 edition of MEED Business Review include:
> PROJECTS: Long-term plans support project activity
> OPINION: Turbulent times for aviation
> MONTHLY BRIEFING: 13 key developments in the region
> BIDEN IN MIDDLE EAST: Biden trip clears way for Saudi-Egypt causeway
> MEED ECONOMIC ACTIVITY INDEX: Energy prices continue to buoy GCC
> GULF BANKING REPORT: Regional banks come up for air
> ENERGY TRANSITION: Independent water projects maintain momentum
> INTERVIEW: GlassPoint focuses on industrial process sector
> UK-GCC TRADE: UK starts free trade talks with GCC
> LEADERSHIP: Middle East leaders support carbon credit market
> MARKET SNAPSHOT: Oman hotel pipeline supports tourism growth
> MARKET TALK: Envision thinks smart for a green future
> GULF PROJECTS INDEX: Gulf projects market declines in June
> JUNE 2022 CONTRACTS: Saudi Arabia buoys value of regional deals
> BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts
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