GULF WEEKLY: Abu Dhabi issues $5bn bonds, transport drives UAE Q3 GDP, Saudi hosts Iranian pilgrims, Oman & UAE sign investment deals

GULF COUNTRIES - Report 26 Apr 2024 by Justin Alexander

A skimmable summary overlaid with our analysis and links. Headlines:

* Saudi Arabia hosted the first formal Iranian Umrah pilgrimage in nine years.
* PIF is investing in Saudi Telecom’s tower assets and merging them with its own.
* Abu Dhabi issued $5bn in 5 to 30-year bonds, the first in three years.
* Transportation and hospitality led the 5.8% growth in the UAE’s Q3 GDP.
* Abu Dhabi achieved a 13% of GDP fiscal surplus in 2022 but budgeted a deficit in 2024 on $69 oil.
* Abu Dhabi is reported to be planning to tender for a second nuclear power plant.
* The UAE, Qatar and Turkey agreed to work on Iraq’s Development Road project.
* The UAE and Oman ordered personal loan payment deferrals due to the floods.
Qatar rejected reports that Hamas may leave Doha.
* Monthly Kuwait fiscal data until December shows less spending than a prior release for this period.
* Total and OQ awarded the main EPC contract for the Marsa LNG bunkering facility.
* Oman’s Sultan visited the UAE, and several large investment agreements were signed.
* Bahrain’s private sector credit declined for a second month for the first time since 2017.
* Databank updates: Abu Dhabi fiscal, UAE GDP, Kuwait & Bahrain BoP, Oman & AD inflation...

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.