S&P Global Ratings
Latest in S&P Global Ratings
Global ratings
UAE insurance sector to grow 20% this year: S&P Global Ratings
S&P Global Ratings has forecast significant growth for the UAE insurance sector
dubai rain
UAE insurance rates could surge following rain and severe weather
S&P Global Ratings says impact on insurance company earnings following heavy rain in the UAE could lead to rate increases for customers
gcc insurance sector
Gulf insurance companies to see 15% revenue growth in 2024
Standard & Poor’s expects Saudi Arabia to lead insurance growth in the Gulf this year
GDP
UAE GDP to grow 5.3% in 2024: S&P
S&P Global Ratings expects UAE GDP growth to accelerate to 5.4 per cent this year
GDP growth
S&P revises India’s FY24 growth upwards to 6.4%
S&P Global Ratings has reduced its GDP growth projection for India in FY25 to 6.4 percent, down from the earlier forecast of 6.9 percent.
India
S&P says India economy to be among fastest growing in Asia Pacific in FY24
The rating agency also retained the South Asia country’s GDP growth forecast at 6 percent
Dubai
Dubai’s job growth at record high: Report
According to S&P Global the UAE’s Purchasing Managers’ Index hit 55.5 in March
credit rating agency
Saudi Arabia credit rating upgraded to A/A-1
S&P Global Rating increases Saudi Arabia’s long and short-term credit rating
business activities
Dubai’s non-oil economy jumps to three-year high in June led by growth in travel, construction sectors
The survey found businesses “were increasingly confident of a rise in output over the coming year,” with confidence rising to the highest since last October
business outlook
Emaar Properties, Emaar Malls see credit ratings rise on strong 2021 performance, stable 2022 outlook
Emaar Properties’ profitability may rise slightly in 2022-2023 after a strong 2021, despite higher raw material prices and general cost inflation, according to an S&P Global Ratings report
cyber attack
GCC banks have ‘sufficient operational risk capital’ to cover losses related to cyber risk: report
The banks’ strong profitability, capitalisation, and liquidity provide a financial buffer against potential incidents, an S&P Global Ratings report said
business activities
Saudi business confidence dips amid inflation fears despite fastest economic expansion in a decade
Business confidence in future activity levels was down to a three-month low and one of the lowest ever recorded, indicating a marked degree of uncertainty over whether the current rate of output growth can be sustained, an economist at S&P Global said
ADNOC
Why the GCC’s oil-rich nations are considering an energy transition in their long-term objectives
The slower spending pace in the short-term stems largely from regional energy companies being significantly more shielded than global peers’ to energy transition risks, an S&P Global Ratings report states
Dubai
Dubai real estate, rental prices likely to increase in 2022 building on strong economic rebound
The addition of about 30,000 units over 2022 should moderate price and rent increases, despite inflation and raw material price increases being passed through to customers
Bahrain banking
Bahrain banking sector edging closer to pre-pandemic profitability with sustained economic recovery in 2022
Increased mobility and improved business and consumer sentiment are expected to support a recovery in the Bahrain banking sector. That said, certain other sectors such as real estate, tourism, and hospitality in Bahrain are likely to take longer to recover.
Abu Dhabi
Impact of Russia-Ukraine conflict on UAE banking system “to be limited”: S&P Global Ratings
Although higher oil prices are likely to further boost confidence and sentiment in the UAE economy, no major change is expected in the macro-picture of further acceleration in lending