August 29th, 2018 | 0 commentsStandard & Poor's reported that GCC countries are among the 22 sovereigns with liquid assets exceeding 25% of gross domestic product (GDP). Three countries of the GCC have liquid assets worth as much as 100% of GDP, according to S&P global ratings' report titled “Government Liquid Assets And Sovereign Ratings: Size Matters” issued...
August 10th, 2018 | 0 commentsAbu Dhabi's state investorMubadala Investment Co has completed 31 deals since the beginning of 2017, which will pave the firm to compete for global deals and sell assets. Despite Saudi Arabia’s sovereign wealth fund is attracting a large number of investors, the kingdom’s Public Investment Fund (PIF) has completed 16 deals, according to t...
July 16th, 2018 | 0 commentsThe GCC's automation industry will see enhanced growth in the coming five years, encouraged by the recovery in oil prices and government economic diversification plans, a new report showed. In July, consulting firm TechSci Research reported that the GCC market for industrial and building automation would reach $10.3 billion in 2023, growi...
June 25th, 2018 | 0 commentsThe US interest rate hike will have a negative impact on the GCC economies, especially those which peg their currencies with the US Dollar. Earlier in June, the United States Federal Reserve decided to raise interest rates by 25 basis points. Following this move, central banks in the UAE and Bahrain increased their interest rates by 0.25%...
June 11th, 2018 | 0 commentsThe Gulf region has registered an incline in inbound flights from Eastern European countries in 2017 when compared to 2016, as reported by Arabian Business, according to figures from travel website Skyscanner. The study showed that December was the most popular month for travellers to come to the region. Bulgaria showed the biggest increa...
June 6th, 2018 | 0 commentsThe GCC region shows great promise for renewable energy deployment, based on a recent study by management consultancy Strategy and Middle East, part of the PwC network. GCC governments must develop a carefully planned framework and make careful decisions in order to unlock this potential. The study shows that renewable energy continues to...
May 21st, 2018 | 0 commentsThe GCC debt issuance was relatively calm in the three-month period ended March 2018, registering $12 billion, according to National Bank of Kuwait’s (NBK) recent report. However, still-favourable borrowing costs, high oil prices, and continued foreign investor interest are expected to keep market access relatively easy this year, the rep...
May 2nd, 2018 | 0 commentsThe GCC counties are planning to impose a $169 per tonne tariff on iron and steel imports as of 15 May. The projected tariff will be imposed on “on clad, plated, or coated flat-rolled products of iron or non-alloy steel, of a width of 600 millimetres or more” in three years, according to an official statement published by the World Trade...
April 12th, 2018 | 0 commentsThe rise in oil prices has bolstered the liquidity and deposits in the GCC banks following years of funding pressure. The Brent crude oil's average price reached $43.5 per barrel (pb) in 2016 and $54.3 pb in 2017, levelling up markedly compared to January 2016 figure, $26 pb, according to a report released by Moody’s on Wednesday. "We exp...
March 8th, 2018 | 0 commentsThe GCC was Qatar’s third largest importer in the fourth quarter of 2017, while the UAE topped the Gulf peers in spite of the Arab boycott. Saudi Arabia, the UAE, Bahrain and Egypt cut their diplomatic relations with Qatar in June 2017. The GCC acquired 3.8% of Qatar’s total exports and 7% of the gas-rich nation’s overall imports, the Min...
