The warning note comes as ministers and central bankers gather in the US capital city for the IMF’s annual meeting, commencing on Monday
global economy
Latest in global economy
Donald Trump
ANALYSIS: US-China relations and the trillion-dollar question for global markets
The tech industry, global trade patterns, and international markets all hang in the balance, awaiting the outcome of the US presidential election
economic outlook
Global economic growth to slow to 3% by 2025 amid geopolitical tensions, report finds
Protectionism, sanctions, and trade wars are set to intensify in coming years, the report warns
economic outlook
Global economy ‘poised for a soft landing’: IMF
In October, IMF predicted global growth would reach 3% in 2023 – a slight upgrade on forecasts earlier in the year – before ticking down slightly to 2.9% in 2024
China
Global trade to drop 5% this year: UN body
A $2 trillion, or 8%, slump in merchandise trade is the main reason. Services trade this year will increase by $500 billion, or about 7%, from a year ago, report finds
global economy
Global economy could be staring at a ‘lost decade’: World Bank
The bank said an ambitious policy push is needed to boost productivity and the labour supply, ramp up investment and trade, and harness the potential of the services sector
GCC economic growth
The good, the bad, and the strange
Global growth is stronger than expected, but there is a price attached to it: more monetary tightening in the West. As top-down factors are clearly in the driving seat, most asset classes took note… with nuances.
Emaar Properties
UAE workers ‘need to put heads down and grind 7 days a week,’ Emaar founder Alabbar says
The business mogul explained that hard work is the only route to success
Economy
Will markets pass the first test of 2023?
Unpredictability is real, and it’s here to stay. 2023 is no exception and with the recent positive surprises in economic data, the current holistic rally in financial markets could face its first serious test: is good news bad news?
Abu Dhabi Securities Exchange
UAE, Asian shares rally as key US indicators hint to Fed rate hike easing
The Dubai Financial Market opened 2.41 percent at 3304 points, while the Abu Dhabi securities exchange also opened in the green, trading 0.047 percent higher in the early morning trading hours
Funding
How to survive the bear market: UAE businesses need to innovate
The global economy faces strong headwinds, but smart businesses can still find opportunities
European Central Bank
Our notebook on a hectic quarter
Crucial central bank meetings, an avalanche of economic data and corporate earnings, major political events in China and the US, and even another crypto shock: the first half of 2022’s last quarter is epic, but markets are so far resilient
ADIPEC
OPEC predicts world economy to more than double by 2045
The global primary energy demand is also forecast to continue growing in the medium- and long-term, increasing by a significant 23 percent in the period to 2045, according to the 2022 edition of the World Oil Outlook by the oil producers body
Economic activity
UAE to outpace Saudi Arabia as fastest growing economy in Gulf in 2023: IMF
The projections come as the global economy faces inflationary turbulence
economic outlook
Global economy to lose $4trillion says IMF chief
Market uncertainty and recession fears key to a gloomy outlook from International Monetary Fund leader, Kristalina Georgieva
economic outlook
Back-to-school anxiety plagues global markets but silver linings remain
After a positive start to the summer, all asset classes are back in the red, with serious concerns affecting each of them. The worst is certainly not priced-in but it’s also never certain; we are cautious but less pessimistic than most for the medium-term
global economy
Around $18 trillion ‘wiped off’ global markets in six months: World Federation of Exchanges
Reasons include the impact of the Ukraine-Russia war upon a global economy that is recovering from the Covid-19 pandemic