Search results

General

Type

Sector

Regions

Sort options

204 results found for your search

Subscriber

Budget increase: Emir Sheikh Tamim Bin Hamad Al-Thani approved the government’s 2023 budget on 19 December, based on spending of QR199bn ($54.7bn), down 3% compared to the previous year. According to the Ministry of Finance, total revenues for the year have been estimated at QR228bn, a rise of 16% compared to 2022 and leaving a budget surplus of QR29bn.

Qatar
Subscriber

Ever more for Aramco trading: Saudi Aramco announced on 18 January that its Aramco Trading Company (ATC) arm had acquired United States-based Motiva Trading and launched a new subsidiary, Aramco Trading Americas (ATA). The latter will be the sole supplier and offtaker for Motiva Enterprises, which owns the 630,000 b/d Port Arthur refinery, the largest refinery in North America. Aramco had taken full control of the refinery in 2017, buying out its partner Royal Dutch Shell.

Saudi Arabia
Subscriber

Mixed outlook but oil buoys economy: The International Monetary Fund (IMF) said economic growth was likely to slow down in 2023, after growing by more than 8% in 2022, thanks to higher than expected oil prices.  

Kuwait
Subscriber

Improving outlook:  Like most other hydrocarbons exporters, Oman’s economic outlook has been improved by a sustained period of high oil prices. We expect relatively buoyant oil and gas prices to continue through 2023, despite mixed signals from the global market. Added to a perception that economic performance is slowly improving on Sultan Haitham Bin Tariq Al-Said’s watch, GSN has attached a positive upwards arrow to Oman’s economic and financial risk grade.

Oman
Subscriber

GSN Risk Grade: D4↓ Election delay: The federal Supreme Court is due to hear several cases in the coming days over the decision by the Kurdistan Region parliament to postpone elections that were due on 1 October.The parliament voted on 9 October to extend its term until end-2023 due to disputes between parties over the election law.

Iraq
Subscriber

Anti-corruption drive: Corruption remains a critical problem, which Prime Minister Mohammed Al-Sudani’s government will be judged on. Sudani said on 11 December the government had recovered another ID134bn ($92m) stolen from the General Commission of Taxes, in a case known as the ‘Theft of the Century’. It took the total recovered to ID317bn, out of some ID3.7tn reported stolen.

Iraq
Subscriber

G20 summit: UAE President Sheikh Mohammed Bin Zayed Al-Nahyan (MBZ) and Saudi Arabia’s Crown Prince Mohammed Bin Salman (MBS) led the Gulf’s representation at the G20 summit in Bali, Indonesia on 15-16 November and held a bilateral meeting on the sidelines of the summit on the first day.

Subscriber

GSN Risk Grade: F6 US explosives seizure: The United States Navy said it had intercepted a fishing vessel in international waters in the Gulf of Oman on 8 November and found a large quantity of explosive material which it said was being smuggled from Iran to Yemen.

Yemen
Subscriber

GSN Risk Grade: A1 World Cup benefits: The UAE is hoping to cash in on the FIFA World Cup taking place in nearby Qatar from 20 November to 18 December, offering multiple-entry tourist visas for fans attending the event.

United Arab Emirates (UAE)
Subscriber

GSN Risk Grade Abu Dhabi A1, Dubai – A2↓ Sharjah real estate: Sharjah significantly opened up its real estate market in late October, with a decision by the Sharjah Executive Council (SEC) to allow nationals of any country to own all types of real estate in the emirate.

United Arab Emirates (UAE)
Subscriber

GSN Risk Grade – B↓2 Budget surplus: In a preliminary budget statement for 2023, issued on 30 September, the Ministry of Finance predicted a surplus of SR9bn in 2023, around 0.2% of GDP, based on revenues of SR1,123bn and expenditure of SR1,114bn.

Saudi Arabia
Subscriber

GSN Risk Grade: B↑1 Population boom: The population has increased by 25% in little over a year, reaching a record high of 2,985,029 in September, according to the latest figures from the Planning and Statistics Authority (PSA). In July 2021, at the lowest point in that year’s summer lull, there were just 2.38m people in the country.

Qatar
Subscriber

GSN Risk Grade – B↓2↓ Candidates line up: A total of 376 candidates have registered for the National Assembly (parliament) election, which is due to be held on 29 September. At least one candidate has since been ruled out, after police arrested an un-named former MP who was standing in the second constituency, accusing him of attempting to buy votes.

Kuwait
Issue 1155 - 26 September 2022

Oman: Muscat makes use of oil windfall

Subscriber

GSN Risk Grade – B3 Hydrocarbons windfall improves rating: Oman is expected to be among the region’s main beneficiaries from elevated oil prices in 2022-23. Along with reforms introduced on Sultan Haitham Bin Tariq Al-Said’s watch, this feeds into an improved economic outlook.

Oman
Subscriber

GSN Risk Grade: D4↑ National dialogue: A second round of talks between most of Iraq’s political leaders on 5 September saw them agree to work towards early elections. However, differences remain over the rules for any new vote. 

Iraq