{"id":114001,"date":"2026-03-17T00:00:00","date_gmt":"2026-03-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?p=114001"},"modified":"2026-03-17T03:22:35","modified_gmt":"2026-03-17T03:22:35","slug":"this-morning-reports-of-india-scrapping-idbi-bank-sale-more-names-raise-brent-price-forecasts","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/03\/17\/this-morning-reports-of-india-scrapping-idbi-bank-sale-more-names-raise-brent-price-forecasts\/","title":{"rendered":"THIS MORNING: Reports of India scrapping IDBI Bank sale + More names raise Brent price forecasts"},"content":{"rendered":"<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Good morning, everyone. <\/strong>It\u2019s been a rough day for the UAE, with attacks affecting operations at Dubai International Airport (again), Fujairah Port (again), a building in Umm Al Quwain, and leading to one death in Abu Dhabi.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>And overnight:<\/strong> Loud explosions were heard across areas of Dubai in the early hours of the day, which the Dubai Media Office <a href=\"https:\/\/x.com\/DXBMediaOffice\/status\/2033681619467599955?s=20\" target=\"_blank\" rel=\"noopener\">said<\/a> were the result of successful interception, and shortly after safety alerts were sent to our phones. And another fire <a href=\"https:\/\/x.com\/FjMediaoffice\/status\/2033706085136388096\/photo\/1\" target=\"_blank\" rel=\"noopener\">broke out<\/a> in the Fujairah Oil Industries Zone following a drone attack.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>On the capital markets front:<\/strong> The DFM continued its run in the red, and briefly entered bear territory, dragged by real estate and financials.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Analysis of both airspace disruptions and the real estate sector are mixed. <\/strong>Signs of airspace recovery had been there, but yesterday\u2019s incident \u2014 followed by the brief closure of airspace \u2014 seems to have slowed things down on that front, while the property sector is seeing some transactions slow and some projects continue to post record sales. We dive into both of these and much more in the news well, below.<\/p>\n<p class=\"tag-border-left\">PSA<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Next <\/strong><strong>term st<\/strong><strong>arts with distance learning: <\/strong>The UAE <a href=\"https:\/\/x.com\/UAEmediaoffice\/status\/2033651040047010211\" target=\"_blank\" rel=\"noopener\">has extended<\/a> distance learning for two weeks, starting with the third academic term. This applies to all levels of education, from nurseries to higher education institutions nationwide.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>WEATHER- It\u2019s another unseasonably warm day<\/strong>, especially in Abu Dhabi, where the mercury hits 37\u00b0C before cooling to an overnight low of 24\u00b0C. Meanwhile, Dubai will see a high of 33\u00b0C and a low of 23\u00b0C.<\/p>\n<p class=\"tag-border-left\">Watch this space<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><a id=\"wwtt2\"><\/a> <strong>M&amp;<\/strong><strong>A<\/strong><strong> WATCH \u2014 The<\/strong><strong> Indian government is reportedly<\/strong><strong> scrapping plans to sell a majority stake in IDBI Bank<\/strong>, as the received bids were below its minimum price expectations, <a href=\"https:\/\/www.reuters.com\/world\/india\/india-scrap-bids-majority-stake-idbi-bank-bloomberg-news-reports-2026-03-13\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a> reports, citing an unnamed government source.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>REMEMBER- <\/strong>Emirates NBD was among the <a href=\"https:\/\/enterpriseam.com\/uae\/2025\/12\/09\/enbd-to-bid-for-usd-7-1-bn-stake-sale-of-state-owned-idbi-bank\/\" target=\"_blank\" rel=\"noopener\">international suitors who submitted bids for a stake<\/a> in India\u2019s state-owned lender, competing against Canada\u2019s Fairfax for 60.7% of IDBI \u2014 a stake estimated to be worth over USD 7.5 bn. Despite strong foreign appetite for Indian banking assets in recent M&amp;As, the government is expected to revive the sale only when market appetite improves, the source said.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Market <\/strong><strong>reax<\/strong><strong>: <\/strong>IDBI\u2019s shares <a href=\"https:\/\/www.reuters.com\/world\/india\/indias-idbi-bank-slumps-after-report-government-scrap-bids-majority-stake-sale-2026-03-16\/\" target=\"_blank\" rel=\"noopener\">dropped<\/a> as much as 16.5% in trading, its steepest single-day decline in nearly a year, reversing gains that had built up on expectations of an M&amp;A.<\/p>\n<p class=\"tag-border-left\">Happening today<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><a id=\"wwtt3\"><\/a> <strong>It\u2019s inter<\/strong><strong>est rate week:<\/strong> The Fed will make its interest rate announcement tomorrow \u2014 and Thursday is equally big a day, with the ECB, Bank of England, and Bank of Japan doing the same. Central banks in China, Canada, Australia, Brazil, Sweden, and Switzerland are also meeting this week to set rates.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The Fed is widely expected to keep rates unchanged<\/strong> as it takes stock of the economic fallout from the war. Policy decisions moving forward might prove tricky. The war\u2019s pressure on oil prices threatens to spike inflation, while the US labor market is also looking weak, so the case for looser vs. tighter economic policy might be much less clear than before.<\/p>\n<p class=\"tag-border-left\">The big story abroad<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The war in our region and its ramifications are making headlines once again.<\/strong> US President Donald Trump <a href=\"https:\/\/www.ft.com\/content\/be66297c-dd84-4dc8-914b-698e46261b0a\" target=\"_blank\" rel=\"noopener\">has announced<\/a> he will remain in Washington to monitor the evolving war, and asked Beijing to delay his high-stakes sit-down with Chinese President Xi Jinping. Trump told reporters that he requested a roughly one-month postponement of the summit, which was originally scheduled to start in just over two weeks.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Meanwhile, in the world of private capital: <\/strong>Mounting anxiety in the private credit market has pushed individuals to <a href=\"https:\/\/www.ft.com\/content\/3103e960-5e54-4cff-a439-b61a77ab21bd\" target=\"_blank\" rel=\"noopener\">pull out<\/a> over USD 10 bn from major funds in 1Q 2026 \u2014 with even more expected to follow. <a href=\"https:\/\/www.reuters.com\/business\/finance\/private-credit-strains-ripple-through-wall-street-investors-grow-wary-2026-03-16\/\" target=\"_blank\" rel=\"noopener\">Among the institutions<\/a> that have limited withdrawals are Blackrock, Morgan Stanley, JPMorgan Chase, and Blackstone, with many \u2014 including Blue Owl and Cliffwater \u2014 seeing huge sums being redeemed. In Asia, the panic also seemed palpable, as private bankers <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-03-16\/asian-private-bankers-go-on-blitz-to-calm-private-credit-nerves\" target=\"_blank\" rel=\"noopener\">fielded urgent calls<\/a> from wealthy clients asking them to redeem positions.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong><br \/>\n<\/strong>^^ We have more in this morning\u2019s Planet Finance.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">Get <b style=\"font-weight: bold\">Enterprise<\/b> daily<\/h4>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p><a class=\"btn-green px-3 d-flex align-items-center\" href=\"\/egypt\/en\/user\/NewsLetters\" target=\"_blank\" rel=\"noopener\">Subscribe here<\/a><\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">***<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>You\u2019re reading EnterpriseAM UAE<\/strong>, your essential daily roundup of business, economics, and must-read news about the UAE, delivered straight to your inbox. We\u2019re out Monday through Friday by 7am UAE time.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>EnterpriseAM UAE is available without charge <\/strong>thanks to the generous support of our friends at Mashreq and Hassan Allam Properties.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Want to send us a story idea, request coverage, ask for a correction, or otherwise get in touch? <\/strong>Reach out to us on <a href=\"mailto:UAE@enterpriseAM.com\" target=\"_blank\" rel=\"noopener\">UAE@enterpriseAM.com<\/a> .<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>DID YOU KNOW that we also cover <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\" target=\"_blank\" rel=\"noopener\">Egypt<\/a><\/strong><strong>, <\/strong><strong><a href=\"https:\/\/enterprise.news\/ksa\/en\" target=\"_blank\" rel=\"noopener\">Saudi Arabia<\/a><\/strong>, and the MENA <a href=\"https:\/\/enterprise.news\/logistics\/en\" target=\"_blank\" rel=\"noopener\">logistics<\/a> industry?<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">***<\/p>\n<p class=\"tag-border-left\">Market watch<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><a id=\"wwtt1\"><\/a> <strong>MARKET<\/strong><strong> WATCH \u2014 Bank of America (BofA) and Standard Chartered raised their 2026 oil <\/strong><strong>forecasts <\/strong>in response to persistent supply disruptions at the Strait of Hormuz chokepoint. BofA raised its Brent crude forecast to USD 77.5 \/ bbl from USD 61, while Standard Chartered revised its projection to USD 85.5 from an earlier USD 70, <a href=\"https:\/\/www.reuters.com\/business\/energy\/bofa-standard-chartered-raise-brent-price-forecast-strait-hormuz-impasse-2026-03-16\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a> reports.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Further into the future: <\/strong>Forecasts also suggest that a disruption extending into 2Q could push prices toward the USD 98 mark, while a prolonged war into 2H of the year could drive Brent to an \u201ceye-watering\u201d USD 130. However, both firms expect a significant correction once the war ends, with the market likely swinging back to a surplus and pushing prices toward USD 65 \/ bbl by 2027.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>How it compares: <\/strong>Fitch recently <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/03\/13\/this-morning-events-scheduled-for-later-this-year-put-on-hold-dhl-looks-to-push-ahead-with-regional-investments\/\" target=\"_blank\" rel=\"noopener\">raised its 2026 Brent forecast<\/a> to USD 70 \/ bbl, up from USD 63, as it viewed disruption as temporary, while Goldman Sachs prices in USD 98 for March and April, before easing to USD 71 by 4Q. <a href=\"https:\/\/enterpriseam.com\/uae\/2026\/03\/11\/imf-warns-middle-east-conflict-could-add-40-bps-to-global-inflation-and-some-central-banks-are-likely-to-pause-monetary-easing\/\" target=\"_blank\" rel=\"noopener\">Oxford Economics<\/a> puts prices at USD 79 \/ bbl for 2Q, up USD 15 from estimates in February.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plus: The Fed is set to make its interest rate announcement tomorrow<\/p>\n","protected":false},"author":1,"featured_media":114002,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1543],"tags":[260,143,7,60,266,6],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-114001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-emirates-nbd","tag-energy","tag-enterpriseam-uae","tag-ma-watch","tag-oil-and-gas","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"8338446f-d2cf-4c2e-b545-3f1a8805e46f","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2026\/3\/873.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: Reports of India scrapping IDBI Bank sale + More names raise Brent price forecasts","related_issue":[113999],"teaser":"Plus: The Fed is set to make its interest rate announcement tomorrow","photo_link":"","related_sponsor":"","voice_url":"","en_translation_ref_id":"","section_story_id":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS MORNING: Reports of India scrapping IDBI Bank sale + More names raise Brent price forecasts - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/03\/17\/this-morning-reports-of-india-scrapping-idbi-bank-sale-more-names-raise-brent-price-forecasts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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