Saudi Aramco's statements confirm Saudi Arabia's stabilizing role in oil markets, with December futures priced around $80, reflecting market expectations of adequate oil supply in the period ahead.
The global financing landscape is shifting. Opportunities are emerging in private credit as interest rates are likely to remain elevated, particularly with roughly $2 trillion in debt requiring refinancing between 2026 and 2028 that traditional banks are not positioned to fund.
Technology remains a key investment theme, with focus shifting to the token economy. Divergences between semiconductor companies posting strong profits and those investing for future growth are creating opportunities across public equities, private equity, and private credit.
Korean equities rose over 70% this year and last, with some U.S. technology stocks trending similarly, underscoring the importance of treating technology as a global investment opportunity while being selective in choosing managers and strategies.
In the Gulf, bond markets remain resilient and bank reserves are holding firm despite geopolitical pressures. Infrastructure, logistics, utilities, and cybersecurity are the sectors positioned to play a pivotal economic role over the medium and long term, while tourism and real estate may face near-term headwinds.
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