Emirates NBD

Um, we have that UAE federal government budget.

Dan Richards, economist at Emirates NBD, thank you so much for your time this morning.

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Well, we are crossing over to Saudi Arabia now to be joined by Dave Ernsberger.

But the man who is going to put it in context for us is Dan Richards.

He's a senior economist at Emirates NBD.

Dan, good morning.

It's lovely to see you.

in terms of the, the propensity.

And I know that, for example, I think having looked on your website, uh, Emirates NBD are one of your clients.

You know, you've got clients from, from the Middle East going there.

And I would say part of that is in there's been a big uptake in stablecoin adoption because of the, um, because of the work the regulators have, have put in into the UAE, both sort of at a federal level, but at also through the free zones.

It's about the strategy.

It's about showing them how you can continue to be customer-centric and really, really, um, clued in to what their goals are, and I think that's the signal clients here look for, and that's the one thing, um, a lot of companies miss out on, right? And I think one of the things I've seen, so at Lewa, uh, we've been, we've been managing Emirates NBD for 15 years now, and I think that's massive.

That's huge, and that's the kind of success you can achieve here if you figure this out, right?

Yes.

S&P Global data cited by Reuters showed 19 liquefied natural gas cargoes passed through the Strait of Hormuz in September, the most in any month since the war began.

An economist at Emirates NBD said the shipping reassurance and talk of a possible opening on nuclear inspections weighed on prices, while new American deployments kept a risk premium in place.

Oil analyst Andy Lippo told NBC the release could help offset Russian diesel exports that had been banned after Ukrainian drone strikes cut Russian refining capacity.

On Thursday, Reuters had reported that Chinese refiners suspended oil product exports for October to preserve domestic stocks.

Let's get the economist's take on what it actually officially means for inflation.

Dan Richards from Emirates NBD.

We don't know the exact mechanism by which petrol prices are decided, but having been deregulated since 2015, they do broadly track wider trends in oil and refined products prices.

So this latest hike was expected, even if the magnitude was somewhat surprising.

So that is unique and I believe the industrial AI is going to be the biggest tool that we will use for this kind of relationship with combining real and digital world.

And is it in practice right now in the region, especially in the Gulf? The report highlighted work with ALDAR, Emirates NBD, and Dubai Municipality's wastewater systems.

Yes, exactly.

So ALDAR and NBD are really good examples.