GULF WEEKLY: Saudi+Qatar to aid Turkey, Abu Dhabi H1 GDP, Kuwait announces political amnesty

GULF COUNTRIES - Report 25 Nov 2022 by Justin Alexander

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

* Oil ministers denied that a quota increase was being considered in response to the Russia price cap.
* Saudi Arabia and Qatar are finalizing up to $15bn in financing support for Turkey.
* Saudi nationalism was stoked by a World Cup win over Argentina, but Qatar’s team has disappointed.
* Saudi Arabia ended a moratorium on drug-related executions and now ranks third globally.
* Abu Dhabi’s non-oil GDP rose by 11.6% y/y in H1, more than other Gulf states.
* Dubai’s inflation eased to 4.5% in October, from its 7.1% peak in July, on lower transport costs.
* Qatar signed a major 27-year LNG supply deal with Sinopec, its first for the North Field expansion.
* Kuwait’s final accounts showed salaries were in line with budget, but other items were underspent.
* Kuwait’s Amir announced an important amnesty for political prisoners jailed for speech crimes.
* Oman’s expat population continued to rebound rapidly and is now up 22% y/y to a three-year high.
* Bahrain implemented a minor cabinet reshuffle, including a new industry & commerce minister.
* Databank update: Abu Dhabi GDP, Fiscal (Kuwait, Oman), Inflation (Dubai, Kuwait, Oman).

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