Category Archives: Business

OMAN: tackling the economic downturn


By Pat Lancaster Oman is not blessed with the same vast oil and gas resources of some of its neighbours but through a long term policy of “good housekeeping” and wise leadership the sultanate enjoys an enviable position among its … Continue reading

Category: Business

Saudi Arabia: domestic bond sell-off gains pace

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The Saudi Arabian government is raising up to SAR20bn ($5.3bn) from banks in this month’s sale of domestic bonds, financial website Maaal reported. The government began the regular monthly sales in mid-2015 to help cover a budget deficit caused by … Continue reading

Category: Business

Turkey’s Afken boosts renewables portfolio with international investment

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TURKEY BUSINESS/ TURKEY RENEWABLES/ EBRD IN TURKEY/ International investment in Turkey Continue reading

Category: 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