CGI Gulf Insights of the week ) (copy 10)

  • ByCGI Gulf Insights of the week
  • Tuesday, 15 February 2022
  • Published inFebruary 2022
Newsletter Template - DnB
View this email in your browser
top-logo.png
 
February 2022 [email protected] Issue No:306
Country Risk Update -  Kuwait

Risk Indicator  - DB4a
Risk Level        - Moderate
Ratings Trend  - Deteriorating
The political risk outlook remains under pressure as divisions continue to block reforms, as the parliament passes the budget amid a fist-fight between parliamentarians. Business opportunities should increase as the government's national development plan targets a more diverse economy. The decision reached in April by OPEC+ to begin tapering production cuts starting in May will improve Kuwait's fiscal position and boost growth.
 
MARKET OVERVIEW
 
UAE: Gold prices slip Dh1 per gram after hitting 3-month high
(Source: Khaleej Times)
Gold prices eased on Monday from a three-month high touched in the previous session, pressured by stronger US dollar and bond yields, although losses were limited as rising tensions surrounding Ukraine supported safe-haven demand for bullion.Spot gold was down 0.4 per cent at $1,851.96 per ounce at 9.10 am UAE time. In the UAE, the Dubai Gold and Jewellery Group data showed 24K opening at Dh224.25 per gram on Monday morning as against its previous close of Dh225.25...
Read more>
First Abu Dhabi Bank makes offer to acquire majority stake in EFG Hermes Holding
(Source: Gulf Business)
UAE lender First Abu Dhabi Bank has made a non-binding offer to EFG Hermes Holding (EFG Hermes) for a potential cash acquisition of a majority stake, the latter announced today.The proposed stake would be no less than 51 per cent of the issued shares of the company at an indicative purchase price of EGP19 ($1.21) per share.The completion of the transaction and the final purchase price is conditional upon the completion of due diligence on the company... ..
Read more>
Oil majors face backlash as era of big profits returns
(Source: Khaleej Times)
Soaring energy prices have brought massive profits to oil majors — along with fierce criticism from environmentalists and politicians at a time when consumers are left with rising bills. US firm ExxonMobil, France’s TotalEnergies, and UK giants Shell and BP announced in the past week 2021 profits totalling a whopping $66.7 billion.It marked a huge turnaround from 2020...
Read more>
Saudi Arabia transfers 4% of Aramco stake to state wealth fund
(source: Gulf Business)
Abu Dhabi Ports Group on Monday announced that it raised Dh4 billion new capital through a primary issuance and it will be listing on the main market of the Abu Dhabi Securities Exchange (ADX).In a statement, the operator of industrial cities and free zones in Abu Dhabi said, shares will be listed under the trading symbol ADPORTS on February 8.It further said Dh4 billion cash proceeds ..
Read more>
 
COMMODITY & STOCK MARKET UPDATE
Commodity Update
(source: Nasdaq)
The weekly commodity update from Nasdaq
 
Read more>
 
Stock Market Update
(source: Mubasher)
The weekly stock market update from Mubasher
 
Read more>
 
CRIF D&B WORLD
#Synesgy is here!
crif GULF DWC LLC operates snb logo in the U.A.E territory.