US bank says Lebanon’s sovereign ranking will probably be cut deeper by S&P Global Ratings within days
S&P Global Ratings
Bahrain
Opinion: how escalating US-Iran tensions could impact Gulf company ratings
S&P Global explores investor questions about how the evolving geopolitical volatility could affect ratings
CVC Capital Partners
GEMS granted ‘B’ rating by S&P, with a stable outlook
S&P rating comes as it is said to meet banks to discuss refinancing plan worth $1.65bn
Abu Dhabi economy
S&P sees Abu Dhabi GDP growth averaging 2.5% to 2022
S&P Global projects economic growth in Abu Dhabi to accelerate to 2% this year from 1.8% in 2018
Bahrain banking
GCC’s wave of bank mergers ‘almost over’, says S&P
Ratings agency says pool of GCC-based banks with common major shareholders is shrinking which will mean fewer M&A from now on
Expo 2020 Dubai
GCC Islamic banks set to show ‘resilience’ over next two years
S&P Global Ratings forecasts mid single-digit growth for Islamic banks operating in the Gulf region
budget deficit
S&P cuts Oman’s rating ‘in the absence of substantial fiscal measures’
S&P cut Oman’s outlook to negative while affirming its debt score at BB, on par with Paraguay and Serbia
budget deficit
Saudi Arabia to balance budget by 2023 – S&P ratings agency
S&P Global Ratings has re-affirmed Sauri Arabia’s A-/A-2 rating
financial instruments
Impact of new reporting standards on Gulf banks has been ‘manageable’, says S&P
Under International Financial Reporting Standards 9, banks disclose the breakdown of their portfolio by different stages defined in the standards
car insurance
GCC insurance firms forecast to see ‘sluggish’ growth in 2019
S&P Global Ratings says mounting competition, more volatile investment returns will weigh on earnings for Gulf-basesd insurers
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
commercial borrowings
MENA sovereign borrowing to surge 25% in 2019
Sovereign long-term commercial borrowing in the region fell 38% in 2018
Dubai
Dubai house prices could drop by up to 10% in 2019, says S&P
S&P Global Ratings report highlights continued gap between supply and demand in Dubai property market
Fitch Ratings
Oman gov’t to tap capital markets to plug budget gap
Gulf nation is looking to raise $6.2bn internationally and at home to cover bulk of budget shortfall
blue-collar jobs
Three reasons why the GCC property markets will remain pressured
Supply demand imbalances, an economic slowdown and lower population growth will hit the region’s real estate market next year
abu dhabi real estate market
GCC property markets forecast to remain under pressure in 2019
S&P Global Ratings says supply demand imbalances, economic slowdown, and lower population growth to hit Guf real estate markets next year
fiscal deficits
GCC sovereign financing set to drop to $300bn
S&P Global report says the decrease in demand is due to higher oil prices and government policy responses