CGI Gulf Insights of the week-March-8 (272)

ByCGI Gulf Insights of the week
Monday, 08 March 2021
Published inMarch 2021

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March 2021

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Issue No: 260

Country Risk Update - Kuwait

Risk Indicator  - DB4a
Risk Level     - Moderate
Ratings Trend  - Deteriorating

The short-term economic outlook worsens following the election of an oppositional parliament that will constrain necessary fiscal reform. Business opportunities should increase as the government's national development plan targets a more diverse economy. Resumption of operations in the Divided Zone will boost oil-production capacity (though OPEC quotas will still constrain actual production).

MARKET OVERVIEW

COVID-19: Saudi central bank extends deferred payment programme

(source:Gulf News)

Saudi Arabia’s Central Bankk has extended a deferred payment programme to support private sector financing for an additional three months - until June 30 - as part of measures to stem the impact of the COVID-19 pandemic on the economy...

Abu Dhabi's IHC reports six-fold surge in annual profits

(source: Arabian Business)

Abu Dhabi-based International Holding Company (IHC) has revealed a six-fold increase in net profits for 2020 to AED3 billion ($816.9 million), driven by a number of acquisitions as well as organic growth across its diversified portfolio.According to a statement on Sunday,...

UAE committee reviews progress in combating money laundering and terrorism financing

(source: The National)

The National Committee for Combating Money Laundering and Financing of Terrorism and Illegal Organisations held its second meeting in 2021 to review the progress on strengthening the UAE's technology and legislative frameworks to improve regulatory oversight.......

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Abu Dhabi fund, CVC, among suitors for $1b NMC hospital business

(source: Khaleej Times)

Abu Dhabi state-owned holding company ADQ and private equity firm CVC Capital Partners are among the suitors that have shown interest in NMC Health’s core hospital business, sources told Reuters. Hospital operators in the region have reported higher profits for last year as...

COMMODITY & STOCK MARKET UPDATE