Category Archives: Business

QATAR: 3 years of budget deficits predicted


Qatar has fully rejoiced in its position as one of the wealthiest countries in the world in a host of ostentatious programmes, some of which might be said to have been politically unwise. Continue reading

Category: Business

Moody’s cuts Saudi, Oman, Bahrain debt ratings

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Moody’s Investors Service cut its debt ratings for Saudi Arabia, Oman and Bahrain on Saturday while assigning negative outlooks to three neighbouring states, as low oil prices continue to undermine government finances in the region. The rating agency downgraded Saudi … Continue reading

Category: Business

Kuwait’s Investment Dar seeks backing for new $2.7bn debt plan


Kuwait’s Investment Dar has offered to hand assets to creditors immediately, a source close to the company revealed, in a bid to win them over to its latest plan to restructure debts of KD 813m ($2.7bn). The move represents a significant … Continue reading

Category: Business

Slow economic growth across Egypt, Jordan, Morocco and Tunisia


Growth forecasts for the southern and eastern Mediterranean (SEMED) region are being wound back because of political tensions in the region as well as a slowdown in global trade, according to the EBRD’s latest Regional Economic Prospects report. The Bank’s … Continue reading

Category: Business

Falling oil price forces Abu Dhabi’s hand


Abu Dhabi expects to post a wider budget deficit of Dhs 36.9bn ($10.1bn) in 2016 because of low oil prices, and plans to cover the gap mainly with international bond issues, a prospectus for a bond sale by the emirate … Continue reading

Category: Business

Exclusive to The Middle East Online . . . Arabian Travel Market 2016 focuses on Responsible Tourism


By Rhona Wells The 23rd Arabian Travel Market (ATM) will be held at the Dubai International Convention & Exhibition Centre from 25-28 April. With greater global awareness about the importance of maintaining our environment for future generations, responsible tourism will be … Continue reading

Category: Business

Saudi Arabia turns to global markets to restore oil revenue shortfall


Saudi Arabia is reported to be close to securing a $10 billion  loan deal from international banks as it tries to recover from plunging oil revenues. It is the first time the Kingdom  has gone to the international markets since … Continue reading

Category: Business

EBRD to host Tunisian trade initiative


The European Bank for Reconstruction and Development (EBRD) has revealed plans to  host a trade finance training workshop in Tunisia as part of its ongoing support to the financial sector and the development of import and export activity in the … Continue reading

Category: Business

Bahrain – Saudi causeway expansion plan revealed


The King Fahd causeway, which connects Bahrain and Saudi Arabia, is set to undergo a major expansion to meet growing traffic on the route. The expansion involves increasing the number of lanes from 17 to 45, representing an increase of up … Continue reading

Category: Business

Egypt set to boost energy security facilities


A $341 million facility to Sonker, an Egyptian company providing hydrocarbon storage and bunkering, will support a significant upgrade of the country’s oil and gas infrastructure and will contribute to the energy security of Egypt. The International Finance Corporation (IFC), … Continue reading

Category: Business