Bloomberg Daybreak: Middle East & Africa Interview, 6 Nov 2023

13 November, 2023
read < 1 minute

Aathira Prasad joined Yousef Gamal El-Din on 6th of November, 2023 as part of the Bloomberg Daybreak: Middle East & Africa edition. The discussion focused on Saudi Arabia’s PMI release, Egypt’s inflation and the regional implications of the Israel-Hamas conflict on markets, especially oil.

– Saudi PMI jumped in Oct: employment increased the most since October 2014 => demand for labour => demand for housing will rise while supply has remained relatively stable. Will continue driving up prices of housing & in turn have an impact on inflation.

– The underlying situation in Egypt has still not changed: curbing of imports has led to supply shortages & dollar shortages have led to a rise in dollar rate in the parallel market. Accumulation of govt debt is a worry and the geopolitical situation adds another layer of uncertainty.  There are some +ives: attractiveness to foreign investors (oil. & gas, renewable projects, start ups / e-commerce), tourism. But, this could be affected if the current turmoil in the region spills over and/or continues for longer.

– Re markets: focused on what seems to a halt in the rate-hiking cycle; for now, geopolitical risk premiums have eased & there seems to be no significant impact on demand for oil or a supply disruption.

Watch the interview below: https://www.bloomberg.com/news/videos/2023-11-13/prasad-saudi-oil-cuts-to-remain-until-year-end-video

Read Next

media page

“The Middle East needs a bank for climate adaptation”, Op-ed in Arabian Gulf Business Insight (AGBI), 22 Nov 2023

The opinion piece titled “The Middle East needs a bank for climate adaptation” appeared in

23 November, 2023

media page

Comments on the war in Gaza in Arab News, Nov 19 2023

Dr. Nasser Saidi’s comments appeared in an Arab News article titled “Gaza war a threat

20 November, 2023

MENA Economics

Dr. Saidi’s comments on Economic Diversification @ Korea-Middle East Cooperation Forum in Zawya, 9 Nov 2023

The article titled “Qatar, Gulf states shifting towards ‘Economic Diversification 2.0’” covers Dr. Saidi’s presentation

10 November, 2023