GULF WEEKLY: Strong Abu Dhabi GDP, Qatar inflation cools, PIF invests in Oman IPO

GULF COUNTRIES - Report 17 Feb 2023 by Justin Alexander

A skimmable summary overlaid with our analysis and links. Headlines:
* The Saudi energy minister affirmed that he expects OPEC+ quotas to remain unchanged all year.
* Iran’s president visited China while the US met with the Gulf states to discuss integrated security.
* Saudi Arabia sent earthquake aid into Syrian government territory.
* NDMC said it had completed KSA’s debt refinancing needs for the year with a local sukuk sale.
* A massive new redevelopment plan was announced for downtown Riyadh.
* A Saudi-Qatari bidding war seems to be developing for Manchester United.
* Abu Dhabi’s GDP grew by 9.4% in Q4 but its non-oil rebound was driven by public spending.
* Sharjah raised $1bn in its debut sustainable nine-year bond.
* Adnoc Gas’s IPO will sell a 4% stake for about $2bn.
* Inflation dropped sharply in Qatar to 4.2% as recreation and hospitality cooled post-World Cup.
* Oman’s social protection law, which has fiscal implications, was submitted to parliament.
* Oman is seeing strong demand for its gas and will take full ownership of Oman LNG by 2035.
* PIF will be an anchor investor in the IPO of Oman’s drilling firm Abraj Energy.
* Databank update: Inflation for Oman, Saudi & Qatar; Dubai tourism; OPEC+ oil.

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