'Emirates NBD Group Chief Investment Office announces global outlook for 2025 'Winds of Change - Middle East Business News and Information
Speaking to the media, Gravier and his team presented their investment strategy for the year ahead, which starts with improved visibility and strong financial returns from 2024, 'The Year of Answers'.
Opening the discussion, Gravier said: 'By contrast to 2024, attention should switch from the present to the future, due to material emerging changes. New leaders will implement new policies, while the geopolitical picture will evolve, commercially and militarily. National and regional priorities should prevail and create divergences.'
He added: 'We believe that macro-economic uncertainty, driven by political changes, could prove much higher than the consensus suggests. This is not adverse for long-term investors: markets overreact on surprises, providing opportunities for those who keep the medium-term picture in mind. Volatility and divergences are a pool of alpha for active allocation and selection. To that extent, Emirates NBD's Group Chief Investment Office has added two new functions in 2024: quantitative tactical analysis to identify short-term signals, starting with FX and commodities, and onshore bespoke discretionary portfolio management, to constantly and swiftly adjust positioning on behalf of Private Banking clients, under their very own guidelines.'
On the economic outlook, Gravier said: 'Our Emirates NBD Research Team expects a stable but moderate global growth in 2025, similar to 2024 on aggregate but with regional differences. The US should continue to shine while the Euro area is in a more lacklustre configuration. China and India should marginally slow. By contrast, headline GDP growth in the GCC should accelerate to a very solid 3.5%, with a strong performance from non-oil sectors, and a diminishing year-on-year drag from the oil sector.'
'As for the long-run, our models suggest lower expected returns for the decade ahead compared to the previous one, as well as a growing appeal for some alternative asset classes. The year ahead should be positive but also volatile: we will see potentially spectacular policy decisions from major economies, and potential overreaction from financial markets. The permanence of US exceptionalism could be challenged at some point, but we do not expect an overly aggressive stance from the new US administration.'
Gravier affirmed: 'We see 2025 as a year of regime change for fixed income investors, which implies some level of volatility and potential turbulences. Still, there are positive news: the defensive end of the fixed income universe is attractive, which is why we favour quality government bonds which should provide decent returns, as they usually do after a bear-steepening episode. We are more neutral, for the time being, on other segments, as spreads are historically tight. GCC bonds provide attractive yields while we expect another year of high issuance.'
On equity, he remarked: '2025 should not be about passivity for equity investors, as changing regional dynamics, led by policy impulses, will meet currently polarised valuations. The good news is that with a still favourable macro environment and positive AI megatrend, we expect continued earnings growth momentum to support markets overall, despite limited likelihood of multiple expansion. Whilst volatility remains on our radar, our outlook suggests a 10% return for global equities. We start the year by following positioning: overweight US and Japan within developed markets, while favouring India and the UAE in emerging regions.'
The annual global investment outlook announced by the Group Chief Investment Officer at Emirates NBD is an advisory blueprint covering investment opportunities, key global economic indicators and in-depth financial market insights, based on which Emirates NBD's team of advisors, strategists and analysts make recommendations on financial transactions and investments to the bank's qualified clients.
About Emirates NBD:
Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As at 31st December 2024, total assets were AED 997 billion, (equivalent to approx. USD 271 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 848 branches and 4,601 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 3.87 billion.
Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.
Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE's main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE's Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mid East Info
3 days ago
- Mid East Info
Emirates NBD secures approval to become the UAE's first General Clearing Member for equity markets - Middle East Business News and Information
New capability via ADX allows the bank to offer enhanced tools, products and credit facilities to trading members Dubai, UAE, August 2025: Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye MENAT region, has announced that it has secured approval to become a General Clearing Member GCM for UAE equity markets through the Abu Dhabi Securities Exchange ADX. This makes Emirates NBD the first entity in the UAE to achieve GCM status. The approval allows Emirates NBD to offer comprehensive clearing services to trading members across the UAE. As a GCM, Emirates NBD can now provide trading members with a suite of tools, products, and access to credit facilities to reduce operational complexities and improve cost efficiencies within the clearing process. This marks a critical step in bolstering the UAE's dynamic stock markets, delivering additional clearing capacity and broadening the investment options available to participants as the UAE's equity market continues to expand and attract investor confidence. Hessa Al Mulla, General Manager, Emirates NBD Securities, said: 'It is a pivotal moment for Emirates NBD to become first General Clearing Member through ADX. This milestone positions us at the forefront of market innovation at a time when the UAE equity market has been attracting substantial and growing investor interest. Our new ADX general clearing membership will open up this opportunity to Emirates NBD's global network of clients. We are now uniquely equipped to provide trading members with unmatched access, fueling the growth and stability of the UAE capital market.' Abdulla Salem Alnuaimi, Group Chief Executive Officer of Abu Dhabi Securities Exchange (ADX), said: 'We are delighted to welcome Emirates NBD Securities as the first General Clearing Member (GCM) on ADX. A key milestone that strengthens our post-trade infrastructure and improves access for investors. This step supports our ongoing efforts to enhance market efficiency, broaden participation and aligns with international best practices. It also reflects Abu Dhabi's growing role as a global financial centre and reinforces ADX's position as a dynamic marketplace connecting regional and international capital with a wide range of investment opportunities.' With its GCM Status, Emirates NBD continues to strengthen its market leadership and its ability to deliver end-to-end trading solutions for individual and corporate investors. About Emirates NBD: Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As of 30th June 2025, total assets were AED 1.086 trillion, (equivalent to approx. USD 295.7 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 826 branches and 4,555 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 4.54 billion. Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region. Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE's main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE's Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water. About Abu Dhabi Securities Exchange ADX: Abu Dhabi Securities Exchange (ADX) was established on November 15, 2000, by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance and management. The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions. On March 17, 2020, ADX was converted from a 'Public Entity' to a 'Public Joint Stock Company PJSC' pursuant to law No. (8) of 2020. ADX is part of ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy. ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA). ADX is the second largest market in the Arab region and its strategy of providing stable financial performance with diversified sources of incomes is aligned with the guiding principles of the UAE 'Towards the next 50' agenda. The national plan charts out the UAE's strategic development scheme which aims to build a sustainable, diversified and high value-added economy that positively contributes to transition to a new global sustainable development paradigm.
bnok24
6 days ago
- bnok24
Emirates NBD Egypt Releases Its First Financed Emissions Report as a Strategic Step Towards Sustainable Finance and Climate Governance
Emirates NBD Egypt has officially released its inaugural Financed Emissions Report, marking a significant milestone in its ongoing commitment to its responsible banking strategy and reinforcing its leadership in advancing the transition towards sustainable finance within the Egyptian market. This step comes as part of the bank's broader sustainability strategy aimed at minimizing the environmental impact of its lending portfolio in accordance with the United Nations Sustainable Development Goals (SDGs), Egypt's Vision 2030, and international standards that place environmental sustainability at the core of modern banking This report presents the bank's first comprehensive assessment of greenhouse gas (GHG) emissions associated with its lending activities. It serves as a baseline reference for measuring the environmental footprint of its portfolio and setting the foundation for future emissions reduction targets based on scientific principles and rigorous methodologies. The report focuses on the bank's large corporate loan portfolio, which represents 73% of total lending. Within this portfolio, carbon-intensive sectors account for approximately 21%, spanning five key industries which are oil & gas, power generation, iron & steel, aluminium, and real estate The report was developed in line with the Partnership for Carbon Accounting Financials (PCAF) framework and the Global GHG Accounting and Reporting Standard for the Financial Industry (GHG Protocol), the report underscores the bank's commitment to upholding the highest standards of institutional transparency and environmental governance In this context, Dr. Amgad Doma, Chief Strategy and Sustainability Officer at Emirates NBD Egypt, said: 'This report reflects our vision of delivering a holistic banking model that balances economic growth with environmental stewardship. For us, it is more than a disclosure, it is a testament to our long-term commitment to driving positive change and maximizing the financial sector's impact on both society and the environment. Through this step, we are reinforcing our goal to create lasting value for our customers, partners, and communities, while supporting the transition to a more sustainable banking ecosystem He added: 'We fully recognize that emissions from our lending and investment activities constitute the largest share of our carbon footprint. That's why we firmly believe that transitioning to a green economy is no longer optional, it is a necessity. We are committed to positioning Egypt as a regional hub for sustainable finance, in alignment with Egypt Vision 2030 According to the report, the total direct financed emissions from the bank's portfolio reached 8,834,026 metric tons of CO₂ equivalent (mtCO₂e). The oil & gas and power generation sectors collectively contributed over 98% of these emissions. The bank conducted a detailed evaluation of customers across the five targeted sectors, including emissions from Scopes 1, 2, and 3, to ensure a comprehensive and accurate emissions profile These disclosed emissions are linked to outstanding loans worth USD 298.7 million within the large corporate portfolio. These loans span two main asset classes, which are business loans and project finance loans, both assessed using the economic activity-based methodologies in line with international best practices. The report also confirms that financed emissions constitute the vast majority of the bank's total carbon footprint, far surpassing emissions from direct energy consumption or operational activities, further underscoring the bank's commitment to redirecting its investments toward more sustainable pathways This report reinforces Emirates NBD Egypt's role as more than just a traditional financial institution, but a responsible environmental partner aiming to create a wide-reaching positive impact. It further cements the bank's position as one of Egypt's and the region's leading financial institutions in the areas of green finance and responsible banking practices Google News تابعونا على تابعونا على تطبيق نبض
Mid East Info
6 days ago
- Mid East Info
Hikma delivers a solid H1 performance and re-affirms expectations for strong growth in the second half - Middle East Business News and Information
Hikma Pharmaceuticals PLC and its subsidiaries ('Hikma' or 'Group'), the multinational pharmaceutical company, reports its interim results for the six months ended 30 June 2025. The Group reported revenue growth of 6% (5% in constant currency) to $1.658 billion (compared to $1.569 billion in H1 2024). We continued to implement our strategic priorities in the first half of 2025. Our MENA business had a strong first half, building market share across the portfolio and we remained the second largest pharmaceutical company by sales[1], with a growing portfolio and reach in MENA. We also maintained our position as a top-three US provider of generic sterile injectables by volume[2] and a key supplier of non-injectable generic medicines. In Europe, we are the sixth largest supplier of injectables by sales[3] thanks to our expansion in France, Spain and the UK. We also strengthened our pipeline through strategic partnerships and agreements by signing seven partnerships across all three businesses, including an exclusive licensing agreement with pharmaand GmbH (pharma&) to commercialise rucaparib, an innovative oral oncology therapy, across MENA. We continue to expect Group revenue to grow in the range of 4% to 6% for the full year, reflecting good growth in the Branded and Injectables businesses, offset by a slight decline in Hikma Rx, (the Generics business in the US). Riad Mishlawi, Chief Executive Officer of Hikma , said: 'In the first half of 2025, the strategic changes and renewed focus we put in place have started to deliver tangible results. We achieved strong revenue growth and built solid momentum across the business. While core operating profit was lower due to strong comparator in 2024 and a change in product mix, we expect a return to growth in the second half and are pleased to reiterate our full-year 2025 guidance for the Group. Demand across our portfolio remains robust, we are successfully launching new products, strengthening our manufacturing capabilities, and securing key strategic are also making significant strides in advancing our pipeline and increasing our investment in R&D. With this foundation, we are well-positioned for the future and I look forward to sharing more updates on our continued growth.' Our Injectables business, which manufactures and supplies generic injectable medicines to hospitals across North America, Europe and MENA, delivered 12% revenue growth in the first half, with profit impacted by a change in product mix and the strong appreciation of the Euro. In North America, we are benefitting from recently launched products as well as the contribution from the Xellia portfolio, which we acquired in September 2024. During the first half, we received FDA approval for the biosimilar Ustekinumab, and for our reformulated vancomycin ready-to-use bag, TYZAVANTM which we will be launched in the second half. Our MENA business had a strong first half, building market share across the portfolio. We had a good performance from our oncology, biotechnology and anti-infective portfolios as well as new launches, including our first diagnostic product from our partnership with Guardant Health. In Europe, we are seeing strong demand for our own products, particularly in recently entered markets such as France, driven by an expanding portfolio and market shortage dynamics. During H1 2025, we launched 33 products and submitted 21 filings to regulatory authorities across all markets. We expect Injectables revenue to grow in the range of 7% to 9%. Our Branded business, which supplies branded generics and in-licensed patented products across the MENA region, grew 4%, reflecting increased market share across the region. Chronic therapy areas remain a key driver of our expansion, with treatments for diabetes, respiratory illness and multiple sclerosis all contributing to growth in the first half. We also remain a leader in oral oncology in the region, with a particularly good contribution from recently launched products, including the targeted breast cancer therapy, palbociclib, sold under our brand name Papillio, a first generic of this important medicine in Algeria. We have a significant and expanding manufacturing presence in the region, where localisation is key to our strategy, and during the first half of 2025 we have continued to make operational enhancements, including facility expansions, automation and rolling out inspection-readiness programmes, which will collectively improve efficiencies and enhance our quality levels. During H1 2025, we launched 14 products and submitted 36 filings to regulatory authorities. We now expect Branded revenue to grow in the range of 6% to 7% on both a constant currency and reported basis. Hikma Rx, which supplies oral and other non‑injectable generic and specialty products to the US retail market, delivered a good first half performance against a heavily H1-weighted 2024 result. Hikma Rx revenue is down 1% as expected with differentiated portfolio performing well. We continued increasing investment to support growth and R&D, while the successful integration of Xellia strengthened Injectables and Hikma Rx. Our differentiated portfolio is performing well with strong volume growth, especially for our inhalation products, which is partially offsetting expected levels of price erosion. We have also maintained our strong position in the sodium oxybate market. We continue to leverage our state-of-the-art facility production in Columbus, Ohio for contract manufacturing for a range of customers, and preparations at the site are ongoing for our previously announced contract with a large global pharmaceutical company. We expect Hikma Rx revenue to be broadly flat vs 2024.
