Saudi Press

Saudi Arabia and the world
Sunday, Jun 22, 2025

Standard Chartered CEO says the global economy is inching back to ‘normal’

Standard Chartered CEO says the global economy is inching back to ‘normal’

“The good news is the state of the world is returning to something a little bit closer to normal,” said Bill Winters, chief executive of British bank Standard Chartered.
He pointed out that the U.S. and China have returned to “proper dialogue,” while disruption from pro-democracy protests in Hong Kong looked to be subsiding. But Winters said he’s “very concerned” that tensions in the Middle East could escalate.

There have been signs that some risks in the global economy are receding, allowing businesses to once again plan for the long term, said Bill Winters, chief executive of British bank Standard Chartered.

Winters pointed out on Monday that the U.S. and China have returned to “proper dialogue” to iron out their trade conflict, while disruption from pro-democracy protests in Hong Kong looked to be subsiding with early signs of tourists returning to the city.

The CEO said business at Stanchart, a London-headquartered bank focused on emerging markets, has been affected by the lack of confidence among firms to invest for the long term. He predicted that it’ll take awhile for all of that to recover.

But, “the good news is the state of the world is returning to something a little bit closer to normal,” he told CNBC’s “Street Signs Asia.”

The U.S.-China trade war dominated investors’ attention for much of the past two years and caused companies to hold back capital expenditure at a time when the global economy was already slowing down. That resulted in the International Monetary Fund slashing its global growth forecast multiple times since the trade war started.

Hong Kong, where Stanchart derives a major portion of its profits, saw its economy struggle under the pressure of the U.S.-China trade fight and anti-government protests which primarily hit the retail and hospitality sectors.

While the outlook for the U.S.-China trade relations and Hong Kong economy are on the mend, Winters said he’s “very concerned” that tensions in the Middle East could escalate after Iran last week fired missiles at Iraqi bases housing U.S. troops.

“Anything that came from an increase in violence in that region would directly impact the economy, would impact the prospects of the commercial markets,” he said.

“We’re assured by the fact that the U.S. and Iran seem to be in a phase of deescalation after the dramatic events of last week, but we’re fully aware that the underlying issue hasn’t been resolved,” Winters added.

The bank has a presence in Dubai and is setting up a full branch in Saudi Arabia, noted Winters. Still, Stanchart wouldn’t pull out of the markets at the first sign of trouble, he said.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
Black Box Recovered from Air India Crash Site
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Syria to Reconnect to Global Economy After 14 Years of Isolation
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Global News Roundup: From Ukraine's strategic military strikes and Russia's demands and Tensions Escalate in Ukraine, to serious legal issues faced by Britons in Bali and Trump's media criticism, the latest developments highlight a turbulent landscape
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
Iran Warns Europe Against Politicizing UN Nuclear Report
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
×