Doha Bank Q P S C : Oil, Vaccination and Constructive Geopolitics Bodes Well for Qatar’s Economic Growth
April 13, 2021 at 01:33 am EDT
Share
Oil, Vaccination and Constructive Geopolitics Bodes Well for Qatar's Economic Growth
Doha Bank hosted a virtual client conference on the 'Impact of oil prices and changing regional dynamics' on 7th April 2021 with distinguished speakers such as Dr. Yarkin Cebeci, Economist, Turkey & Middle East Region - JP Morgan and Ms. Anita Yadav, CEO, Global Credit Advisory and Dr. R. Seetharman, CEO of Doha Bank as the moderator for the event. The virtual event was attended by a large number of Doha Bank's corporate customers.
Dr. R. Seetharman, CEO of Doha Bank spoke about the global economy, the ever-changing world and how COVID19 has provided great lessons for humanity. According to IMF April 2021, the global economy is projected to grow at 6 percent in 2021, moderating to 4.4 percent in 2022. Advanced economies expected to grow by 5.1 percent in 2021 and 3.6 percent in 2022 respectively. The emerging and developing economies expected to grow by 6.7percent in 2021 and 5 percent in 2022 respectively. He spoke about the good progress Qatar is making with its vaccine drive amidst the surge in Covid-19 and remains cautiously optimistic about the outlook for the global economy.
Dr. Yarkin Cebeci, Economist, Turkey & Middle East Region - JP Morgan spoke about the impact of Covid 19 on the economy and the severity of the recession it has caused, making it the third most severe recession in a century. He expects a sharp economy recovery and a global rebound, one not seen perhaps in the last 50 years, with a lot of global growth recovery coming from emerging economies, especially China. 'The emerging economies are solving current account issues and their fiscal performance is getting better' he said. He does not expect US Federal Reserve to hike interest rates before end of 2022, with US treasury yields expected to reach 1.8% to 1.9% by end of this year. On oil prices, Dr. Yarkin Cebeci said their house view was that oil between $60 to $70/ Barrel in the coming year.
Ms. Anita Yadav the CEO of Global Credit Advisory, a leading capital advisory firm, spoke on a wide range of topics ranging from the US economy, oil prices, US bond yields, reforms in the region, influence of OPEC and the importance of Qatar in the region. She believes that US focus would be on their economy, COVID-19, the infrastructure bill and corporate taxes. She expects oil to be range between $55-$65 a barrel with production cuts by OPEC at one end and potential increase in supply at the other keeping prices range bound.
Ms. Anita Yadav is bullish on GCC as a whole and Qatar in particular. Qatar is well positioned globally with Google, Microsoft and Oracle having presence in Qatar and Qatar marketing its fintech capabilities. She believes that the GCC is a great investment destination with tax free zones, trade promotion agencies, favorable corporate taxes and continuous improvement in ease of doing business rankings.
Mr. Gudni Stiholt the Chief Treasury and Investments Officer for Doha Bank thanked the speakers who had joined in from different parts of the world and shared their views and ideas to make the event a success.
Attachments
Original document
Permalink
Disclaimer
Doha Bank QSC published this content on 13 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 April 2021 05:32:01 UTC.
Doha Bank QPSC is a Qatar-based financial institution engaged in the banking sector. The Bank is organized into the following business segments: Corporate Banking, which provides a range of products and services to business and corporate customers, including funded and non funded credit, facilitates deposits to corporate customers, as well as undertakes funding and centralized risk management activities through borrowings, issue of debt securities, use of derivatives for risk management purposes and investing in liquid assets, such as short term placements and corporate and government debt securities; Retail Banking, which provides a range of products and services to individuals, including loans, credit cards, deposits and other transactions with retail customers, as well as Insurance Activities.
DOHA BANK Q.P.S.C. 
