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The Middle East chief executive officers (CEOs) remain among the most confident globally, with 88% expecting economic growth to strengthen in their own territories, and an even higher 93% across the GCC (Gulf Co-operation Council), against just 55% internationally, according to PricewaterhouseCoopers (PwC).Despite geopolitical uncertainties and trade tensions, CEOs in the Middle East continue to deploy capital, scale artificial intelligence and expand selectively into new sectors, supported by a strong investment momentum and long-term national transformation agendas, said PwC's 29th Global CEO Survey – Middle East findings, based on insights from more than 300 CEOs across the Middle East region."These findings reflect the strong underlying confidence we are seeing across the Middle East. CEOs in the region are resilient and are ready to deploy capital for long-term growth. It is particularly encouraging to see the region rank highly in CEOs’ global investment plans. Supported by national transformation agendas and sustained investment in artificial intelligence, the Middle East is well positioned to compete, adapt and grow,” said Hani Ashkar, Territory senior partner, PwC Middle East.Finding that the GCC continues to consolidate its position as a global investment hub; the survey ranks Saudi Arabia and the UAE among the top 10 global investment destinations, reinforcing their role as anchor markets for international and intra-regional capital.The Middle East businesses are also the most active globally when it comes to investing beyond their home markets, with 88% of CEOs planning to invest outside their domestic territories, it said, adding almost three quarters of these investments will stay within the Middle East, signalling deeper regional integration and growing confidence in local value creation.The CEOs in the Middle East, and even more so in the GCC, report significantly higher application of AI (artificial intelligence) than the global average, it found.More than a third of Middle East and the GCC leaders report integrating AI directly into their offerings, compared with fewer than one in five globally.Adoption is strongest in demand generation functions such as sales, marketing, and customer service, where 39% of Middle East CEOs and 43% of the GCC CEOs report extensive AI use. Uptake is also strong across support services, with nearly 40% of Middle East CEOs deploying AI - well above global averages, it said.As much as 80% of business leaders in the Middle East have also revealed that their culture enables AI adoption, while 70% have a clearly defined AI roadmap, well ahead of global benchmarks. As adoption accelerates, CEOs increasingly recognise the need to strengthen data readiness and governance before attempting to scale AI across the value chain.The merger and acquisition (M&A) demand remains strong, with 72% of Middle East CEOs planning a major acquisition over the next three years, it said, adding deal activity reflects a growing emphasis on capability-building, as CEOs look to strengthen skills, talent and data to support long-term growth. 

India's GDP growth expected to surpass initial forecasts, driven by government spendingReforms counter US tariffs, boost economic resiliencePrivate consumption and investment to show strong year-on-year growth, says stats ‌office India's ‌economic growth is estimated to ‍surge past most initial private and official forecasts, backed by robust domestic demand and government spending, ⁠helping New Delhi cope with ⁠punitive US tariffs. The near $4tn economy is expected to grow 7.4% in ‍the fiscal year ending in March, the National Statistics Office said on Wednesday, above the government's initial projection of 6.3%-6.8%. Indian Prime Minister Narendra Modi, facing steep US tariffs and an uncertain global backdrop, last year accelerated domestic reforms to support growth, including an overhaul of consumer taxes on hundreds of items and implementation of long-delayed labour reforms."(This growth) reflects that ‌despite rising global uncertainties India continued to perform well," Sakshi Gupta, economist at HDFC Bank, said.The estimate of gross domestic product, which will be revised over time as ‍data coverage improves, will ⁠be used as ‌a base for the federal budget due to be announced on February 1. The Indian economy grew 6.5% in 2024/25 and 9.2% in 2023/24.India has edged past Japan to become the world’s fourth-largest economy, the government said last month. Confirmation by the International Monetary Fund is due.In nominal terms, which factor in inflation, the economy is expected to grow 8%, compared with the 10.1% estimate in the annual federal budget announced last February.Private consumption, which accounts for about 60% of GDP, was seen expanding by 7% year-on-year compared to ​a 7.2% expansion last fiscal year.Government ‌spending is estimated to rise by 5.2% year-on-year in 2025/26, up from a 2.3% increase the previous year, ⁠while private investment is ‍seen rising by 7.8%, higher than the 7.1% growth the year before.The US has imposed 50% tariffs on some of India's key exports to punish it for its purchases of Russian oil.However, the strong growth estimate is possibly due to a limited hit on India’s exports so far, ​helping steady manufacturing growth, said Madhavi Arora, economist at Emkay Global.Manufacturing, which accounts for about 13% of GDP, is projected to expand 7% year-on-year in 2025/26, compared with 4.5% a year ago, while construction output was seen growing by 7%, down from 9.4% in the previous year, data showed.The output of farms, which employ more than 40% of India's workforce, was estimated to expand 3.1% in the current fiscal year from 4.6% a year ago. 

Katara Cultural Village hosted a regional forum examining how sports tourism and media can be leveraged as strategic drivers of economic growth, cultural identity and Arab soft power, amid growing regional focus on the role of sport as a development and diplomacy tool.Organised in co-operation with the Arab Federation for Sports Tourism and the Gulf Association for Tourism Media, the forum brought together officials, experts and media professionals from Qatar, Kuwait, Saudi Arabia, the United Arab Emirates and the Sultanate of Oman. Discussions centred on developing a sustainable Arab framework linking sports, tourism, the economy and media, with emphasis on hospitality and cultural identity, training and capacity building, and specialised sports and tourism media. A number of figures and participants were honoured during the event.In the opening address of the General Cultural Village Foundation, delivered by Director of the Research and Studies Department at Katara Dr Nadia al-Mudhahka, it was said that the forum reflects Katara’s vision that culture is not an isolated sector but a dynamic force that brings together sports, media and tourism to shape national identity and global perception. She said Qatar has presented a pioneering model by employing sports as a bridge for civilisational communication and highlighting Arab culture as a source of strength and influence.Chairman of the Board and Managing Director of Retaj Hotels and Hospitality Group Sheikh Nayef bin Eid al-Thani said the forum reflects the depth of vision and partnerships of the current phase at a time when sports, tourism and media have become central tools in building countries’ global image and strengthening cultural identity at regional and international levels. He stressed that Qatar recognises investment in sports, culture and media as an investment in people, identity and soft power, and has therefore developed an integrated system combining professional organisation, cultural openness and pride in Arab identity.Executive Director of Communications and Media at the Supreme Committee for Delivery and Legacy Fatma al-Nuaimi said the forum comes at an important moment as the Arab region witnesses a genuine transformation in the sports industry. She noted that sports are emerging as an integrated system encompassing economic development, cultural depth, human impact and stronger ties among Arab peoples. She highlighted the global nature of the Qatari model and the state’s approach to transforming sporting events into tools for sustainable development, and football tournaments into global platforms for tourism attraction and bridge-building among different peoples and cultures.Chairman of the Executive Office of the Forum of Specialised Arab Federations at the League of Arab States Ahmed bin Mohammed al-Jarwan highlighted Qatar’s pioneering and continuous support for Arab and international sports, reflecting an enlightened vision of the role of sport in bringing peoples closer together, promoting development and strengthening positive Arab presence internationally. He said Qatar has presented an advanced Arab and international model by employing sports as a bridge for communication and an effective tool to support tourism and stimulate the economy, adding that the Qatari experience combines organisation, professionalism, advanced infrastructure and a smart global vision, making sports a unifying civilisational platform.President of the Arab Federation for Sports Tourism Kamel Abu Ali praised Qatar’s global professional standards in organising major sporting events and reaffirmed the Federation’s commitment to supporting high-quality initiatives that enhance Arab identity and belonging.Secretary-General of the Arab Federation for Sports Tourism Dr Sultan bin Khamis al-Yahyai also commended Qatar’s pioneering experience in organising major events and its notable successes over the years, achieved through clear vision, advanced infrastructure and strong organisational expertise, which have positioned the country as a global model. He added that Qatar’s hosting of the forum reflects informed Arab awareness of the importance of sports tourism as a modern pathway for development and as a bridge linking culture, sports and tourism within an integrated institutional framework. 

US economic growth is set to accelerate with cheaper oil. Federal Reserve rate cuts are likely with inflation cooling. Stock pickers are looking for alternatives to artificial intelligence (AI) plays and the American consumer continues to spend.Together it’s a near-perfect recipe for shares in companies that are most closely tied to the economic cycle. Banks like JPMorgan Chase & Co, equipment makers like Caterpillar Inc and retailers like Gap Inc and Dollar Tree Inc are among the companies strategists and analysts expect to do well in 2026.“Investors are starting to sniff out the beginning of an improvement in cyclical areas of the economy,” said Michael Kantrowitz, chief investment strategist and head of portfolio strategy at Piper Sandler.That means financials, industrials and purveyors of non-essential consumer products should be at the vanguard of what Wall Street expects will be another strong year for US equities. Some six dozen economists surveyed by Bloomberg have an average growth target for the US economy of 2% next year — hardly gangbusters but strong enough to drive gains in areas outside of technology.“You want to be positioned for finding names that are going to see an incremental benefit to their earnings picture in the next year as we expect cyclical data to improve and lead to value outperformance in 2026 for the first time in a long time,” Kantrowitz said.The rotation has already started. After moving more or less in tandem with the S&P 500 Index through the year, a Goldman Sachs basket of cyclical stocks has climbed 9.3% over the last month. That advance is twice as fast as the broader market, with the S&P 500 Index rising just 4.2%.Moreover, the cyclicals group has outperformed defensive stocks, which were the key beneficiaries of the October-through-November mini-rotation and pullback from the information tech sector. Another Goldman basket that is long cyclicals outside of the commodities space and short defensive names is up 10% over the last month.“Rotation into the non-tech cyclicals signals encouraging economic expansion expectations,” said Sam Stovall, chief investment strategist at CFRA, in a note to clients. His firm expects real GDP growth of 2.5% in 2026, “aided by a 4.1% rise in retail sales and a decline in Core PCE to 2.4%.”Elsewhere on Wall Street, the cyclical group is seen as a longer-term winner in 2026 with Dennis DeBusschere, founder and chief market strategist at 22V Research LLC, saying that “pro-cyclical trades should last longer than a quarter or two.”His favourite way to play the trade is going long banks and retail stocks and short consumer staples. He also likes buying the transportation group outside of the airlines.The strengthening case for cyclical stocks is also evident in the advance of the Dow Jones Transportation Average, which has climbed 10% over the past month and, after a long period of underperformance, is finally within 0.4% of notching its first record high since November 2024.Tom Hainlin, national investment strategist at US Bank NA, is recommending clients add broad cyclical exposures within equities. “We want more cyclical exposure but not by selling tech stocks to get it,” he said by phone, noting that he expects tech to continue to lead earnings growth next year, followed by materials and industrials stocks.Citi strategists led by Adam Pickett said in a December 15 note that cyclicals should outperform defensives and recommends investors be overweight financials, the bank’s pick within cyclical sectors, and underweight staples. “Industrials are an upgrade candidate, too,” he wrote.One potential challenge to cyclicals’ rise in 2026 is the economy running hot enough that hoped-for rate cuts are either delayed, or potentially reversed, Pickett writes.“It is far from certain,” that the Fed will continue to trim interest rates through the end of 2026, he said.At this point, the market is pricing in two rate cuts over the course of 2026, according to data compiled by Bloomberg. The Federal Reserve is also projecting 2.3% GDP growth through 2026, up from previous views of 1.8% as recently as September.A faster-growing US economy “would especially benefit cyclical businesses and sectors, whose earnings are most sensitive to economic activity levels,” Michael Dickson, head of research and quantitative strategy at Horizon Investments LLC, said in a note to clients. 

Qatar National Bank (QNB) discussed the key factors that will support economic growth in the ASEAN-6 economies during 2026 and contribute to a positive growth outlook, including the stabilization of the global trade environment and the decline in the severity of risks associated with trade protectionism, along with the easing of monetary conditions in advanced economies as well as within the ASEAN-6 countries.In recent decades, Southeast Asia has been the most dynamic region in the world, showcasing the brightest economic growth performance, QNB added in its weekly economic commentary.Within this region, the six largest countries of the Association of Southeast Asian Nations (ASEAN-6), which includes Indonesia, Thailand, Singapore, Malaysia, Vietnam, and the Philippines, have been among the fastest growing economies, with Singapore already reaching the status of an advanced economy.Trade is a major pillar of the economic growth model for the ASEAN-6 countries, and significant disruptions in international commerce can have a large impact on their performance.Trade and growth forecasts initially deteriorated sharply on fears of the impact of supply-chain disruptions, rocketing uncertainty, and potentially escalating trade wars. But despite a still-uncertain environment, the growth outlook for the ASEAN-6 group has been stable, with real GDP growth rates in 2026 expected to remain overall strong, similar to those of 2025.First, the global trade environment has begun to stabilize, as the U.S. reached agreements with an increasing number of trade partners, and there is no evidence of a negative impact of trade in the ASEAN-6 countries. The initially unyielding protectionism of the U.S. administration shifted towards pragmatism as agreements were reached with the U.K., Japan, and the E.U., among many others.Importantly, for the ASEAN-6, agreements were reached with Vietnam, Malaysia, Thailand, Indonesia, and Philippines, establishing a general tariff of 19% and lower rates for selected goods, while for Singapore the levy stands at 10%. Although these rates are higher than before Liberation Day, the end of the negotiations largely reduced the levels of uncertainty discarding the more extreme negative scenarios, and are still within a manageable range, especially as other competitors are also affected by new U.S. tariffs.Even as the U.S. has become more protectionist, the rest of the world is pursuing further integration via new or deeper trade agreements. In October, the ASEAN member states signed two major agreements: one improving cross-border flows within the group, and an upgrade of the ASEAN-China Free Trade framework. At the same time, negotiations began for an ASEAN-South Korea agreement. Furthermore, some ASEAN-6 countries appear to be benefiting from trade diversion as firms shift supply chains away from China.The impact of tariffs after Liberation Day on the ASEAN-6 economies has so far been negligible, with exports continuing to show monthly growth rates in the range of 10 to 20% in USD in annual terms. Even as the world adjusts to a more protectionist U.S., the outlook on global trade is improving, contributing to a more supportive growth scenario for the ASEAN-6 economies.Second, lower policy interest rates in the major advanced economies (AE), as well as in the ASEAN-6 countries, provide a better global environment for economic growth. Since 2024, the U.S. Federal Reserve has already lowered its policy rate by 175 basis points (bp) to 3.75% and is likely to bring it further down to a neutral level of 3.5%. In a similar period, the European Central Bank has lowered its benchmark policy rate by 200 bp to 2% and is likely to keep it unchanged during next year. Thus, policy interest rates in major AE are set to stabilize at lower levels than in recent years, providing better financial conditions for emerging economies.Similarly, central banks in the ASEAN-6 countries have implemented their own monetary easing cycles after inflation was brought under control following the post Covid-pandemic recovery. In these economies, the average increase in policy rates was 260 basis points (bps), to levels above those at the onset of the Covid-pandemic. As tight monetary policy brought inflation rates down to their target ranges, central banks reached a turning point and began to cut policy interest rates, reducing the cost of credit and boosting credit growth. Overall, looser monetary conditions in the AE as well as from the ASEAN-6 central banks provide better credit conditions for growth in the region.All in all, the growth outlook for the ASEAN-6 economies remains stable on the back of an improvement in the trade environment and more supportive monetary.

The growth outlook for the Asean-6 economies remains stable on the back of an improvement in the trade environment and more supportive monetary policy, according to QNB.In recent decades, Southeast Asia has been the most dynamic region in the world, showcasing the brightest economic growth performance.Within this region, the six largest countries of the Association of Southeast Asian Nations (Asean-6), which includes Indonesia, Thailand, Singapore, Malaysia, Vietnam, and the Philippines, have been among the fastest growing economies, with Singapore already reaching the status of an advanced economy.Trade is a major pillar of the economic growth model for the Asean-6 countries, and significant disruptions in international commerce can have a large impact on their performance, QNB said.On April 2, which came to be known as “Liberation Day,” President Trump announced sweeping tariffs on all US trade partners, and a period of much tighter protectionism emerged as a potential threat to growth.Trade and growth forecasts initially deteriorated sharply on fears of the impact of supply-chain disruptions, rocketing uncertainty, and potentially escalating trade wars. But despite a still-uncertain environment, the growth outlook for the Asean-6 group has been stable, with real GDP growth rates in 2026 expected to remain overall strong, similar to those of 2025.First, the global trade environment has begun to stabilise, as the US reached agreements with an increasing number of trade partners, and there is no evidence of a negative impact of trade in the Asean-6 countries.The initially unyielding protectionism of the US administration shifted towards pragmatism as agreements were reached with the UK, Japan, and the EU among many others.Importantly, for the Asean-6, agreements were reached with Vietnam, Malaysia, Thailand, Indonesia, and Philippines, establishing a general tariff of 19% and lower rates for selected goods, while for Singapore the levy stands at 10%.Although these rates are higher than before Liberation Day, the end of the negotiations largely reduced the levels of uncertainty discarding the more extreme negative scenarios, and are still within a manageable range, especially as other competitors are also affected by new US tariffs.Even as the US has become more protectionist, the rest of the world is pursuing further integration via new or deeper trade agreements. In October, the Asean member states signed two major agreements: one improving cross-border flows within the group, and an upgrade of the Asean-China Free Trade framework.At the same time, negotiations began for an Asean-South Korea agreement. Furthermore, some Asean-6 countries appear to be benefiting from trade diversion as firms shift supply chains away from China.The impact of tariffs after Liberation Day on the Asean-6 economies has so far been negligible, with exports continuing to show monthly growth rates in the range of 10 to 20% in USD in annual terms. Even as the world adjusts to a more protectionist US, the outlook on global trade is improving, contributing to a more supportive growth scenario for the Asean-6 economies.**media[393199]**Second, lower policy interest rates in the major advanced economies (AE), as well as in the Asean-6 countries, provide a better global environment for economic growth. Since 2024, the US Federal Reserve has already lowered its policy rate by 175 basis points (bps) to 3.75% and is likely to bring it further down to a neutral level of 3.5%.In a similar period, the European Central Bank has lowered its benchmark policy rate by 200bp to 2% and is likely to keep it unchanged during next year.**media[393200]**Thus, policy interest rates in major AE are set to stabilise at lower levels than in recent years, providing better financial conditions for emerging economies.Similarly, central banks in the Asean-6 countries have implemented their own monetary easing cycles after inflation was brought under control following the post Covid-pandemic recovery. In these economies, the average increase in policy rates was 260 basis points, to levels above those at the onset of the Covid-pandemic.As tight monetary policy brought inflation rates down to their target ranges, central banks reached a turning point and began to cut policy interest rates, reducing the cost of credit and boosting credit growth. Overall, looser monetary conditions in the AE as well as from the Asean-6 central banks provide better credit conditions for growth in the region, QNB noted. 

OilOil prices edged up nearly 1% to a two-week high on Friday on increasing expectations the US Federal Reserve will cut interest rates next week, which could boost economic growth and energy demand. Traders expect the Fed to cut rates by 25 basis points.Brent crude futures settled at $63.75, while US West Texas Intermediate (WTI) crude finished at $60.08. For the week, Brent was up about 1% and WTI spiked 3%, marking a second straight weekly gain for both contracts.Investors also focused on news from Russia and Venezuela to determine whether oil supplies from the two sanctioned Opec+ members will increase or decrease in the future.The failure of US talks in Moscow to achieve any significant breakthrough over the war in Ukraine has helped to boost oil prices so far this week. GasAsian spot liquefied natural gas (LNG) prices hit their lowest level in two months as high inventories and mild weather weighed on demand.The average LNG price for January delivery into north-east Asia was $10.66 per million British thermal units (mmBtu), down from $10.90 per mmBtu last week, industry sources estimated.Weaker coal demand weighed on prices, with weather not showing the coldest side for this time of the year and mainland China may remain warm until the middle of the month while a cold phase just left South Korea. Meanwhile, the relatively high shipping costs create an extra burden for Asian buyers, needing to overbid European counterparts with a larger premium.In Europe, gas prices fell on forecasts of warmer and windier weather. The Dutch TTF price settled at $9.35 per mmBtu, recording a weekly loss of 4.2%.This article was supplied by the Abdullah bin Hamad Al-Attiyah International Foundation for Energy and Sustainable Development. 

In October, over 150 professionals from KKR & Co descended on Abu Dhabi. They huddled in conference rooms at the Mandarin Oriental and dined out in the desert, before travelling to meet with institutional investors across the region that now sits firmly at the heart of global finance.Weeks after that off-site, KKR picked Abu Dhabi as the location for its third Middle Eastern office. For the $723bn alternatives giant which pioneered the buyout industry, the moves spotlighted the growing significance of the oil-rich Gulf that boasts a young demographic, growing consumption and robust economic growth.KKR was set up about five decades ago in the US, later expanding to Europe and Asia. The firm has had an office in Dubai since 2009 and started deploying capital into the region more recently, though executives are looking to dial up their presence.“Once we decide that we want to go into a region, we operate more like a switch than a dimmer,” co-Chief Executive Officer Scott Nuttall told Bloomberg News in Riyadh on the sidelines of the Future Investment Initiative. “We want to invest more capital in and with partners that are here,” he said in an exclusive interview alongside two of KKR’s most senior regional executives.The firm recently reported its second-highest fundraising quarter, a period where investment activity also rose sharply. Over the past year, it has deployed about $85bn globally across asset classes. The Middle East accounts for a small proportion, but Nuttall pledged to scale up, “much like we’ve done in Europe and Asia.”Buyout firms have been drawn to newly-ascendant Gulf economies that are trying to diversify from oil into areas like finance and artificial intelligence. Massive privatisation programmes are also seen as a lucrative opportunity.But it’s also a delicate moment for alternative managers in the region. Many of the largest Gulf wealth funds — historically significant backers of the industry — have become pickier about who they work with. Some have sounded alarm over valuation practices and returns, while others say pockets of the market have become crowded.KKR, for its part, has picked up the pace of dealmaking in the Gulf, which Nuttall said delivered “emerging markets growth for developed market risk.” It has invested about $2bn over the past ten months, buying a slice of Abu Dhabi National Oil Co’s gas pipeline network and a stake in one of the largest Gulf data centre firms.Other titans of global finance, too, have rushed in.Brookfield Asset Management is now one of the biggest foreign investors in the Gulf, BlackRock Inc recently signalled ambitions to significantly boost regional investments, while the likes of CVC Capital Partners Plc and General Atlantic have ramped up dealmaking. Executives from many of these firms will head to Abu Dhabi this month for the city’s annual finance confab.KKR executives brushed aside concerns over competition, and said their ability to do a broader variety of deals offers an edge. The firm invests from a global pool of capital, allowing it to target bigger opportunities, according to Julian Barratt-Due, head of Middle East investing.“Our mandate is very broad and flexible with respect to duration and cost of capital as well as size, governance structures, holding periods,” he said in the interview. “That gives us a really wide lens when it comes to deployment and it widens the addressable opportunity set.”“Being able to play across that whole range helps,” he said.KKR opened its first regional office in Dubai 16 years ago, followed by Riyadh in 2014. Co-founders including Henry Kravis have flown into Gulf cities for over three decades to raise capital and build partnerships with sovereign wealth funds. Nuttall himself is a frequent visitor, while former US General David Petraeus — chairman of the Middle East franchise since April — is a fixture at regional finance forums.In all, it currently has 20 employees in the region, and recently set up an investment team led by Barratt-Due. “This isn’t a new endeavour,” Nuttall said. “I’d say what is a bit younger is the idea of investing capital in the region, not just taking capital from the region.”That appetite for dealmaking has triggered a regional revival for the industry following the collapse of Abraaj Group, but it’s also ratcheting up competition for assets and a slice of the region’s billions. Even a flare up in the regional conflict over the summer and fluctuations in the price of crude haven’t deterred firms from continuing to set up local outposts and adding investment professionals.“The Middle East is the world’s worst-kept secret,” said George Traub, managing partner at Dubai-based boutique Lumina Capital Advisers. “The likes of Brookfield have had an early mover advantage by getting access to a string of deals and others have taken note,” he said, adding that firms who may have been underweight are now recalibrating their approach.Recent transactions have centred on sectors tied to the region’s growth. Brookfield invested in a Dubai-based education provider last year, while Permira and Blackstone Inc poured money into a property classifieds website recently, in a bet that an influx of expatriates would continue to boost those sectors.“From an investment standpoint, it’s a pretty interesting area, and there are a lot of things that rhyme with what we see in Asia,” Nuttall said. “And we’re the largest manager in Asia.”Opening UpBuyout shops started to change their approach to the region a few years ago when Gulf states decided to open up some of the marquee infrastructure to international investors. KKR and BlackRock were involved in the first such deal in the Middle East, when they bought into Adnoc’s oil pipeline network in 2019.“Every country has ambitious economic transformation plans and are seeking foreign investments,” General Petraeus said in the interview. “The thinking is why hold all these assets on your balance sheet when an investment firm can come and buy some of it.”Such transactions continue to present opportunities for buyout firms. Earlier this year, Saudi Aramco signed an $11bn lease transaction with a group led by BlackRock’s Global Infrastructure Partners for assets linked to the Jafurah gas project.Aramco is now considering plans to raise billions by selling assets including its oil export and storage terminals business. The action has spread further afield to places like Kuwait, where the state oil firm is considering leasing part of its pipeline network to help fund a $65bn investment plan.But the region can still be hard to crack for alternative asset managers. Auction processes can be less structured than in the West, businesses are sometimes more reluctant to cede control, and capital markets are relatively illiquid.KKR executives are looking to lean on their local presence to counter some of those challenges. A significant portion of its deal pipeline comes from having conversations with local entities, Barratt-Due said.“You need to be on the ground,” he said. “This is impossible to do if you’re sitting in London or New York, you just need to meet with people.” 

Turkish inflation came in higher than expected in August, at nearly 33% annually and more than 2% on a monthly basis, readings that are likely to slow the central bank's plans to cut interest rates as it also weighs stronger economic growth.Annual consumer price inflation stood at 32.95% last month, official data showed on Wednesday, above a Reuters poll estimate of 32.6%. It was up 2.04% on a monthly basis.In further evidence that consumer demand remains strong despite the effects of prolonged monetary tightening, separate data on Monday had shown that Turkiye's economy grew by 4.8% in the second quarter, above expectations.The data flurry comes at a jittery time for investors in Turkiye. A court on Tuesday ousted the Istanbul provincial head of the main opposition Republican People's Party (CHP), dealing a fresh judicial blow to opponents of President Tayyip Erdogan and triggering sharp falls in Turkish share and bond markets.According to a poll conducted in July, economists had expected the central bank to cut its policy rate to 36% by year-end, or some 700 basis points from the current 43%. However the latest inflation and GDP data could cause it to slow the pace of the easing, analysts said."Looking ahead to the central bank's September 11 meeting, we expect the market's current consensus for a 300bps rate cut to moderate towards 200-250bps," Oyak Securities said in a note to clients on Wednesday.In July, the central bank cut the policy rate by 300 basis points, relaunching an easing cycle paused in March, and it promised to use all policy tools in the event of a significant and persistent deterioration in inflation."After Wednesday's GDP growth data and today's inflation data, the probability of the central bank cutting rates by 300 basis points in September has become very low," Hakan Kara, a former central bank chief economist now on the faculty at Bilkent University in Ankara, said on X.The monthly inflation reading for August of 2.04% was affected by higher food, education, and housing prices, as well as the continued impact of a mid-year update of taxes on tobacco and fuel items.In July, CPI inflation stood at 33.52% on an annual basis, while the monthly reading was 2.06%.In the Reuters poll, the monthly inflation rate for August had been expected to come in at 1.8%.The domestic producer price index rose 2.48% month-on-month in August for an annual rise of 25.16%, the data showed.Inflation is seen slowing to 30% at the end of this year according to the poll median, higher than the central bank forecast range of 25%-29%.

Turkiye’s economic growth remained resilient in the second quarter despite an emergency interest-rate hike by the central bank in March.Gross domestic product expanded 1.6% on a quarterly basis, up from a revised 0.7% in the preceding three-month period when adjusted for seasonality and working days, Turkiye’s statistics office said on Monday. The median estimate in a Bloomberg survey of economists projected an expansion of 0.6%.The economy grew 4.8% annually, compared with the median estimate of 4.1% in the survey and a revised 2.3% in the preceding quarter. The acceleration was largely down to the higher number of working days Turkiye had this year compared to 2024, QNB Turkiye economists led by Erkin Isik said in a research note ahead of the data release.The surprise boost came after the Turkish central bank raised interest rates in an unscheduled meeting in March to mitigate the market fallout following the jailing of a prominent opposition politician, reversing a cycle of rate cuts it had just begun. Even so, domestic demand climbed at the fastest pace in more than a year, leading the surge in annual growth. The central bank resumed its cuts in July, lowering the main policy rate to 43% from 46%.Spending by households, which is the main driver of Turkiye’s economy, rose 5.1%, the highest rate since the first quarter of 2024, Turkstat said.“On the surface, Turkiye’s especially strong growth data for the second quarter could be seen as reason to derail the central bank’s easing path. But activity is likely to post slower gains ahead and we maintain our call for rate cuts at all remaining meetings this year amid falling inflation,” says Selva Bahar Baziki, economist, Bloomberg Economics.“Today’s figures provide worrying evidence that domestic demand is too strong, which may prevent the current account deficit from narrowing further and inflation from falling as quickly as policymakers want,” Capital Economics’ chief emerging markets economist William Jackson said in a note. Though August inflation figures, which will be released on Wednesday, will give a better sense of that, Monday’s GDP report suggests the central bank “will not lower interest rates as quickly as we currently expect,” he said. Jackson currently sees the main policy rate reduced to 37% at the end of the year.Gross fixed capital formation, a measure of investments by businesses, soared by nearly 9% in the second quarter from a year earlier, while exports of goods and services increased by 1.7% from a year earlier, and up from 0.1% the prior quarter.The lira was little changed after the data release, trading 0.1% higher at 41.1182 per the US dollar at 10.57am in Istanbul.Monday’s release marks the first time Turkstat published revised growth data, which the agency said was carried out for better compliance with international peers.

Turkiye’s economic growth remained resilient in the second quarter despite an emergency interest-rate hike by the central bank in March.Gross domestic product expanded 1.6% on a quarterly basis, up from a revised 0.7% in the preceding three-month period when adjusted for seasonality and working days, Turkiye’s statistics office said on Monday. The median estimate in a Bloomberg survey of economists projected an expansion of 0.6%.The economy grew 4.8% annually, compared with the median estimate of 4.1% in the survey and a revised 2.3% in the preceding quarter. The acceleration was largely down to the higher number of working days Turkiye had this year compared to 2024, QNB Turkiye economists led by Erkin Isik said in a research note ahead of the data release.The surprise boost came after the Turkish central bank raised interest rates in an unscheduled meeting in March to mitigate the market fallout following the jailing of a prominent opposition politician, reversing a cycle of rate cuts it had just begun. Even so, domestic demand climbed at the fastest pace in more than a year, leading the surge in annual growth. The central bank resumed its cuts in July, lowering the main policy rate to 43% from 46%.Spending by households, which is the main driver of Turkiye’s economy, rose 5.1%, the highest rate since the first quarter of 2024, Turkstat said.“On the surface, Turkiye’s especially strong growth data for the second quarter could be seen as reason to derail the central bank’s easing path. But activity is likely to post slower gains ahead and we maintain our call for rate cuts at all remaining meetings this year amid falling inflation,” says Selva Bahar Baziki, economist, Bloomberg Economics.“Today’s figures provide worrying evidence that domestic demand is too strong, which may prevent the current account deficit from narrowing further and inflation from falling as quickly as policymakers want,” Capital Economics’ chief emerging markets economist William Jackson said in a note. Though August inflation figures, which will be released on Wednesday, will give a better sense of that, Monday’s GDP report suggests the central bank “will not lower interest rates as quickly as we currently expect,” he said. Jackson currently sees the main policy rate reduced to 37% at the end of the year.Gross fixed capital formation, a measure of investments by businesses, soared by nearly 9% in the second quarter from a year earlier, while exports of goods and services increased by 1.7% from a year earlier, and up from 0.1% the prior quarter.The lira was little changed after the data release, trading 0.1% higher at 41.1182 per the US dollar at 10.57am in Istanbul.Monday’s release marks the first time Turkstat published revised growth data, which the agency said was carried out for better compliance with international peers.