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Welcome to Emirates NBD Research

We provide clients with in-depth knowledge on regional and financial markets within the global context.

About Us

Dollar to ride out 2023 on strong footing

Economic and yield outperformance favour the US dollar over peers

MARKETS, FX - 27.09.2023

Dubai: Transport & storage sector to remain a key driver of growth

Increased investment in infrastructure and population growth underpins the medium term outlook.

ECONOMICS, GCC MACRO - 25.09.2023

Fed leaves rates unchanged but with hawkish dot plot

The US Federal Reserve left the Fed Funds Rate unchanged at its September meeting, but the dot plot of projections maintained a hawkish bias

ECONOMICS, MARKETS - 21.09.2023

Regional tourism: Middle East leads the recovery

Recent data from the World Tourism Organization highlight the strength of tourism in the Middle East, with tourist arrival numbers exceeding 2019 levels in Q1 2023.

ECONOMICS, SECTOR ECONOMICS - 19.09.2023

Daily Outlook

US durable goods orders rebound in August
28.09.2023

Dubai government debt down to 25 percent of GDP
27.09.2023

Moodys warns on US government shutdown
26.09.2023

September PMIs show further economic weakness in Europe
25.09.2023

BoE keep rates unchanged
22.09.2023

E-commerce in the MENA region

The MENA e-commerce market is expected to see further growth in coming years, supported by factors such as demographics, interest from venture capital firms and developments in payments technology.

ECONOMICS, SECTOR ECONOMICS - 15.09.2023

China: Assessing the economic challenges

Slower Chinese growth may be here to stay in the near-term, with structural challenges likely to weigh on the economy going forward.

ECONOMICS, GLOBAL MACRO - 12.09.2023

US macro scorecard - August

A round-up of the most widely followed macro data points from the US, compared to expectations and the previous month.

ECONOMICS, US - 24.09.2023

Dubai PMI slows in August

The Dubai PMI slowed in August but remains well above the neutral 50.0 level

PMIS, GCC MACRO - 11.09.2023

Energy imports remain strong in China

Strong demand for fuel stands at odds with a slump in industrial activity.

MARKETS, ECONOMICS - 07.09.2023

Extension of Saudi cuts will keep oil market tight

Further upside will depend on an improving macro picture.

MARKETS, COMMODITIES - 06.09.2023

UAE and KSA PMIs slip in August

The PMI surveys for the UAE and Saudi Arabia slipped in August but remain strongly above the neutral 50.0 level

ECONOMICS, PMIS - 05.09.2023

PMIs

Dubai PMI slows in August
11.09.2023

UAE and KSA PMIs slip in August
05.09.2023

GCC PMIs indicate strong growth at the start of H2 2023
03.08.2023

Dubai PMI strengthened in June
12.07.2023

Dubai PMI slips but still strong in May
09.06.2023

The National: Is the global rate hiking cycle coming to an end?

Recent data suggests developed market inflation may have peaked.

ECONOMICS, GLOBAL MACRO - 05.09.2023

Next ECB move hangs in the balance

Deteriorating growth prospects balanced against still fast inflation

MARKETS, FX - 31.08.2023

Oil markets stuck in a range

Negativity around China balanced by OPEC supply cuts and inventory draws.

MARKETS, COMMODITIES - 30.08.2023

Jackson Hole leans hawkish on rates

Rising real rates will help the Fed on its path to cool the economy.

MARKETS, FIXED INCOME - 28.08.2023

US macro scorecard - July

A roundup of the most widely followed macro data points from the US, compared to expectations and the previous month s results.

ECONOMICS, US - 25.08.2023

Dubai tourism: Record visitor numbers in the first half of 2023

Dubai attracted 8.55mn international visitors in the first half of 2023.

ECONOMICS, TOURISM - 21.08.2023

Monthly Insights: August 2023

A roundup of our key reports and forecast updates for August 2023.

ECONOMICS, GCC MACRO - 14.08.2023

Dubai GDP growth slowed in Q1 2023

We expect growth of 4.0 percent in Dubai in 2023, down from 4.4 percent in 2022.

ECONOMICS, GCC MACRO - 14.08.2023

Slowing inflation clears way for extended Fed pause

We expect the central bank to maintain a cautious stance but will hold off from further hikes.

MARKETS, FIXED INCOME - 11.08.2023

DUBAI

Dubai tourism: Record visitor numbers in the first half of 2023

Dubai attracted 8.55mn international visitors in the first half of 2023.

ECONOMICS, TOURISM - 21.08.2023

Dubai GDP growth slowed in Q1 2023

We expect growth of 4.0 percent in Dubai in 2023, down from 4.4 percent in 2022.

ECONOMICS, GCC MACRO - 14.08.2023

Dubai Real Estate: Strong Q2, but growth moderates

Quarter on quarter growth has decelerated across all segments of the residential market.

ECONOMICS, REAL ESTATE - 08.08.2023

Dubai PMI strengthened in June

The Dubai PMI survey strengthened in June and is indicative of robust economic growth

PMIS, ECONOMICS - 12.07.2023

Dubai PMI slips but still strong in May

The Dubai PMI survey was a little weaker in May but remained in comfortably expansionary territory

PMIS, ECONOMICS - 09.06.2023

Dubai: Tourist numbers up 18% in the first four months of 2023

Record number of visitors during Ramadan.

ECONOMICS, DUBAI - 08.06.2023

Dubai: FDI rebounded sharply in 2022

The total value of FDI reached AED 47bn in 2022.

ECONOMICS, DUBAI - 29.05.2023

MARKETS

Dollar to ride out 2023 on strong footing

Economic and yield outperformance favour the US dollar over peers

MARKETS, FX - 27.09.2023

Fed leaves rates unchanged but with hawkish dot plot

The US Federal Reserve left the Fed Funds Rate unchanged at its September meeting, but the dot plot of projections maintained a hawkish bias

ECONOMICS, MARKETS - 21.09.2023

MONTHLY INSIGHTS

Monthly Insights: August 2023
14.08.2023

Monthly Insights - June
26.06.2023

Monthly Insights - May
30.05.2023

Monthly Insights - April
28.04.2023

Jackson Hole leans hawkish on rates

Rising real rates will help the Fed on its path to cool the economy.

MARKETS, FIXED INCOME - 28.08.2023

Slowing inflation clears way for extended Fed pause

We expect the central bank to maintain a cautious stance but will hold off from further hikes.

MARKETS, FIXED INCOME - 11.08.2023

Lingering data from China will cap metals

Stimulus measures may help to keep a floor under prices but unlikely to prompt a spike.

MARKETS, COMMODITIES - 08.08.2023

UAE increases emissions reduction target

The cut will see emissions drop 40% by 2030.

MARKETS, ECONOMICS - 12.07.2023

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