CGI Gulf Insights of the Week 02 April 2017 (188)

ByCGI Gulf Insights of the Week
Sunday, 02 April 2017
Published inApril 2017

Back

Hello,

CRIF – Dun & Bradstreet is pleased to bring to you the latest edition of our newsletter ‘CRIF Gulf Insights’ (CGI). CGI will keep you informed about the current trends in the GCC markets and highlight key events in the regional and global economy.

We look forward to your feedback at [email protected]

Happy Reading!

Best Regards,
CRIF Dun & Bradstreet Communications Team

CGI | Issue 63 | April 2017

Country Risk Update - Oman

The economy is weakening, although business performance is holding up for now. Growth will remain slow in the outlook period due to the drop in oil revenues, which will also force the government to prioritise certain projects. In addition, the government is looking to raise greater levels of debt and has started to reduce subsidies in order to ease pressure on the public accounts. The banking sector (which largely proved resilient to the global financial crisis) will function adequately, although liquidity is starting to tighten as deposits slow and government borrowing continues apace. Government is targeting high-end tourism as an area for growth. The ports of Sohar and Salalah are emerging as regionally competitive infrastructure facilities.

Business, Finance and Commodity News

Saudi Arabia's GDP growth quickens in Q4

Saudi Arabia's gross domestic product, adjusted for inflation, grew 1.2 percent from a year earlier in the fourth quarter of 2016. The rate of growth increased compared with 0.9 percent in the third quarter, which was the slowest rate in over three years, according to preliminary data from the country's Central Department of Statistics. The Q4 GDP growth was well below the 4.3 percent growth registered in Q4 2015.

Oil prices edge up on reports of Saudi supply cuts

Oil edged up, lifted by reports of Saudi supply cuts to Asia, but prices were prevented from rising further over a lack of detail of these reductions and because of signs of rising supplies from other producers. Prices for Brent crude futures, the international benchmark for oil prices, were trading at $53.75 per barrel at 0316 GMT, up 11 cents from their last close.US West Texas Intermediate (WTI) crude oil futures were at $50.97 a barrel, 15 cents above their last settlement.

Dubai attracts nearly $10bn in foreign investment in 2016

Dubai attracted AED25.5 billion ($9.94 billion) in foreign direct investment (FDI) inflows in 2016, according to Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. He said the city succeeded in maintaining its position among the top 10 global cities in attracting foreign investment, ranking seventh in the world. Dubai succeeded in attracting 247 new investment projects, putting it third behind London and Singapore.

UAE personal loans rise to $95.2m in February

The value of personal loans in the UAE increased to AED349.9 billion ($95.2 billion) in February, up by three percent compared to the previous month. The UAE Central Bank said that by providing personal and corporate finance facilities, UAE banks "continue to play a dynamic role in establishing a robust economic development process". It also said in a report cited by state news agency WAM that total bank reserves rose to AED258.4 billion.

Commodity Tracker

D&B Article of the Week

Data, Degloblization & Dark Horses

We do business in an era of digital dystopia. In many areas of the modern world, our relationships are now defined in part, if not in whole, by digital transactions. Our words, our ideas and our very identities infiltrate the digital landscape—leaving trails of data as pen marks recording pieces of our legacies on the world around us. These marks reach faster, further and at a higher velocity than light itself, and they accumulate around us in piles of structured and unstructured data. But, is this data truly bringing the world closer together?. Read more

CRIF D&B Highlights

CRIF and HARMONYCREDIT established a strategic partnership for credit risk management solutions in Beijing

With CRIF's advanced credit scoring model and decision solutions, the new platform will help individuals as well as small and medium-sized and micro-companies improve credit management with effective and customized services.

Dun & Bradstreet acquires Avention
Dun & Bradstreet acquired Avention, which provides company, contact, and market data through its OneSource® solutions.This acquisition combines Dun & Bradstreet’s best-in-class content with Avention’s intuitive, user-friendly platform to provide sales and marketing professionals with actionable market and company information.

CRIF Gulf Introduces iPulse
iPulse is a new state of the art business application that supports end-to-end field due diligence process. For more information, send an email to [email protected]

Upcoming Events this Week

Dubai Int'l Property Show
Apr 2 - Apr 4
DWTC

Annual Investment meeting 2017
Apr 2 - Apr 4
DWTC

Reading Recommendation of the Week

Strengths Finder 2.0

Do you have the opportunity to do what you do best every day? Chances are, you don't. All too often, our natural talents go untapped. From the cradle to the cubicle, we devote more time to fixing our shortcomings than to developing our strengths. To help people uncover their talents, Gallup introduced the first version of its online assessment in 2001.

Release Date:
February 1, 2007