Research Briefing | May 6, 2021

MENA | Saudi and UAE PMIs; Aramco profits; GCC travel

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The April PMIs for both Saudi Arabia and the UAE remained in expansionary
territory, at 55.2 and 52.7 respectively. Continued recovery from the Covid-19 pandemic drove the readings, with increases in new orders signalling an
improvement in market conditions.

What you will learn:

  • Saudi Aramco surpassed expectations in reporting profit growth of 30% in Q1 2021, following a recovery in the oil market fuelled by vaccine optimism and an upturn in global demand. 
  • Kuwait is to impose a travel ban on unvaccinated citizens from 22 May, but with those who are not eligible to receive the vaccine exempt.
  • Non-Kuwaiti individuals are still not permitted to enter the country.

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