This issue of the Gulf Economic Update includes a special section focused on GCC green growth opportunities for the GCC countries as the world accelerates transition to a greener future. Moving away from fossil fuels towards greener energy should not be seen as a threat but as a tremendous opportunity. This direction is entirely in line with GCC country vision documents that outline an image of the economy of the future that relies increasingly on the private sector playing a leading role in investment, job creation and value addition. The report presents the latest economic developments in the GCC focusing on the post-pandemic recovery, the vaccine roll out and the implications of a more favorable oil market. The team will highlight the medium-term prospects given continued volatility in the oil market and the need to diversify GCC economies.

This loan is the second and final in a programmatic financing series supporting the government’s program to protect and enhance human capital, maintain a sustainable and green recovery, and improve revenue administration.

Our GBA indices fell to a nine-quarter low in Q3; evident slowdown weighed on recovery expectations. Lower borrowing costs, outperformance of financing services and Hong Kong were bright spots. ​​​We took a closer look at COVID disruptions, US-China trade tariffs, housing market downturn and global outlook.

Globalization, demographic trends, the green transition, and technological innovations are transforming labor markets in Europe and Central Asia, altering their institutional and contractual arrangements, and creating disparities and vulnerabilities in the labor force.

For the third quarter of 2022 (3Q22), the HKTDC Export Index increased by 1.9 points to 32.8, an improvement on both the 30.9 recorded for 2Q22 and 1Q22’s figure of 24.7. This indicates that many Hong Kong exporters are gradually becoming more optimistic with regard to their short-term prospects.

Multiple logistics indexes have recently reversed their downward trajectories with improvements in market demand and business operations, indicating China's economic engine is on track to make a comeback thanks to concerted pro-growth policies.

China's factory activities returned to expansion territory in September, with most industries showing improved sentiment, as the recovery momentum of the world's second-largest economy continues to consolidate.

China's central bank is expected to prioritize stabilizing market confidence in the coming quarter, keeping monetary policy accommodative for economic recovery while fending off any rapid weakening of the renminbi against the dollar, experts said on Thursday.

The Shanghai municipal government has given a solid boost to market confidence by announcing 22 favorable policies on Wednesday, which will help maintain the strong momentum in economic recovery, local officials said.

Covers risks in relation to the collection of deferred payment by exporters,the account receivable by financial leasing companies and the recovery of loan principal and interest by financial institutions.The tenor is normally 2 to 15 years.

As of August 31, 2022, 1,663 listed companies on the Shanghai Stock Exchange (SSE) main board completed the disclosure of their 2022 semi-annual reports. Overall, in the face of the impact of unexpected factors such as the complex and volatile international situation and the domestic pandemic in the first half of the year, the companies on SSE main board demonstrated strong resilience in development, supported by the country's policy package for stabilizing economy, bolstering the sustained recovery of the national economy.