Recessions in major economies could reduce oil demand, potentially leading to economic uncertainties in GCC nations, experts warn
recession
Latest in recession
Financial Market
Indian, Asian equities rally as concerns over US recession diminish
The latest US data send bonds tumbling in these markets
Arab stock markets
UAE holiday dates; 4-day week in Dubai; Saudi labour law changes; UAE casino update – 10 things you missed this week
UAE holidays, 4-day working week, Saudi labour laws, Ras Al Khaimah casino update, Mo Vlogs and more top stories this week
Abu Dhabi Securities Exchange
Global sell-off hits UAE stocks as US recession fears mount: Experts react
Despite Monday’s global market turbulence, experts emphasise the UAE’s economic resilience and growth potential even as international markets face uncertainty
Financial Market
Markets meltdown: Global stocks plummet amid recession fears, Fed policy conerns
The sell-off, which began last Friday following disappointing US jobs data, has since spread to markets across Europe, Asia, and the Middle East
Financial Market
Markets meltdown: Is a recession coming?
The current market turbulence has raised alarm bells among investors, who fear that the world’s largest economy may be teetering on the brink of recession
Financial Market
Markets meltdown: Calls for emergency US Fed rate cut amid turmoil
“It would be beyond negligent for the Federal Reserve not to announce an emergency interest rate cut in response to the global rout in stock markets,” deVere Group CEO says
ADX
Markets meltdown: UAE DFM, ADX, Saudi Tadawul drops as investor fear grows
Emaar, Emirates NBD, DIB sees massive drops alongside shares in ADX and Tadawul as global markets are affected by investor sentiments with Wall Street’s ‘fear index’ reaching its highest level in four years
geopolitical tensions
Oil prices hover near 8-month lows as US recession fears offset Middle East supply concerns
Slumping diesel consumption in China, the world’s biggest contributor to oil demand growth, is also weighing on global oil prices
Bombay Stock Exchange
FTSE 100 plunges as global markets react to US recession fears; bloodbath on stocks in India, Asia
The market witnessed mayhem in the morning trading hours, with wide-spread selling in heavyweights across sectors, traders said
economic outlook
Russia faces ‘big problems’ as sanctions bite, economy confronts recession risk amid ‘unprecedented’ brain drain, capital flight
Russia’s economic performance presents a paradox – growth amid isolation, resilience in the face of sanctions
inflation
Goldman Sachs cuts adds of US recession to 20% on positive inflation trends
Its new outlook is based on encouraging US inflation data
Bank of England
Bank of England admits it got wrong on recession
The bank’s monetary policy committee now sees the path of demand to be “materially stronger” than in its February Report
$100 oil price
Goldman Sachs no longer anticipates that oil will hit $100 in 2023
The bank’s latest analysis comes amid apprehensions of a wider banking crisis impacting growth potentials
economic outlook
Recession? What recession? (Just don’t tell Putin)
Anthony Scaramucci says he is optimistic for the region’s economic outlook – as long as Putin doesn’t get out of control
Bank of England
Europe’s largest economies record boost in business activity
In the 20-nation euro zone, activity rose at the fastest pace since May 2022
economic slowdown
Yahoo joins the ‘layoff’ chant, to cut more than 20% of staff globally
The cuts will impact nearly 50 percent of Yahoo’s ad tech employees by the end of this year, including nearly 1,000 employees this week, the company said