Ratings agency says fiscal deficits will likely remain in the double digits in the medium to long term
Fitch Ratings
economic outlook
Fitch downgrades Saudi credit ratings over military tensions
Saudi finance ministry criticised the downgrade, saying it did not reflect the kingdom’s quick restoration of oil output after the attacks
bad dedts
Fitch warns ‘significant portion’ of Dubai debt may need restructure
Banks are at risk once again due to falling home prices and non-performing loans, the ratings agency said
Bahrain debt
GCC gov’t-related debt ‘significant and growing’, says Fitch
Ratings agency says non-bank government-related entity debt is as high as 32% of GDP in Oman
Abu Dhabi economy
Abu Dhabi said to sell $10bn bonds amid demand for high quality debt
Source says emirate plans to sell benchmark-sized dollar-denominated bonds in three maturities
Fitch Ratings
Saudi Islamic banks see improved profitability amid lower funding costs
Fitch Ratings says Saudi Arabia has the largest Islamic banking financing base of any country
Fitch Ratings
VAT receipts set to boost Ras Al Khaimah surplus in 2019, says Fitch
Fitch Ratings has affirmed Ras Al Khaimah’s long-term foreign-currency issuer default rating at ‘A’ with a stable outlook
Central Bank of Lebanon
Lebanon’s credit rating cut deeper into junk by Fitch
The rating company downgraded Lebanon for the first time in three years
Fitch Ratings
Saudi banking profits rise despite pressure on assets, says Fitch
Ratings agency says Saudi banks saw little new business and subsequent low loan growth affected by lower government spending in 2018
bank merger
GCC Islamic bank mergers likely to increase, says Fitch
New research says consolidation should ultimately be positive for the Islamic banking sector by creating larger, stronger and more efficient banks
Fitch Ratings
UAE Islamic banks see slower financial growth
Fitch Ratings predicts asset-quality metrics for Islamic banks in the UAE will remain under pressure for 2019
Fitch Ratings
Saudi Aramco named the most profitable company in the world
Aramco generated earnings before interest, tax and depreciation of $224 billion last year, Fitch said
Bahrain
Oman to avoid Bahrain-style bailout, says Moody’s
Oman now has a sub-investment grade at all three major rating companies after Moody’s lowered its rating to Ba1
Al Rajhi Bank
Zakat payments ease pressure on Saudi bank ratings, says Fitch
Ratings agency says confirmation of Saudi banks’ extra zakat payments for years up to and including 2017 removes a key near-term uncertainty
Abu Dhabi
Abu Dhabi’s Adnoc gets region’s top credit rating from Fitch
Saudi Aramco is in talks with ratings agencies aimed at getting its own debt ranking
Arqaam Capital
Investors remain cautious about investing in Oman’s bonds
Without reforms, buying Oman bonds debt would require a ‘leap of faith’, said Emirates NBD Asset Management chief
Bahrain economy
Most Gulf economies set to weaken in 2019, says Fitch
Fitch Ratings says pressure will be maintained on sovereign balance sheets this year with many countries forced to pare back spending