Kuwait City, April 29, 2013: GIC, in collaboration with the internationally-renowned Conference Board held a joint seminar at the GIC premises. During the seminar, the Conference Board and GIC presented preliminary findings of their joint study on developing indicators for anticipating the short-term economic outlook in the GCC economies. The project team of the joint study included the Executive Vice – President and Chief Economist of The Conference Board and the Chief Economist of GIC.

The joint study utilized a set of monthly data on economic, financial, and trade variables and indicators for the objective of anticipating the business cycle in the GCC economies during the forthcoming 3-6 months which serves the financial, economic, and strategic plans of the business leaders in the GCC countries.

GIC conducted the study and held the joint seminar in partial fulfillment of the reason d’être for its establishment and that is the promotion of the cause of sustainable development in the GCC economies given that the research analyzed a wide variety of institutional these, as well as economic, commercial, financial, and monetary statistical series and data. Ultimately, the on-going research aims at developing leading and coincidental economic indicators and scoreboard for the GCC in order to serve the needs of enterprises of Kuwait and the GCC business sectors. During the presentation, GIC emphasized the significance of the study and imperatives to continue to update and improve its various aspects, data, method and deliverables.

Established in 1983, GIC is a regional financial institution owned entirely and equally by the six GCC states. GIC strives to provide a comprehensive range of financial services that support the development of private enterprise and economic growth in the Gulf region. GIC managed to achieve a number of major projects throughout GCC Countries all with diversified activities covering different sectors via, financial, petrochemical, steel, power, communications and others. GIC successfully maintained its distinguished presence as a financially powerful establishment with rewarding returns and enhanced capital base.

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