CGI Gulf Insights of the Week Apr 9 2017 (189)

ByCGI Gulf Insights of the Week
Sunday, 09 April 2017
Published inApril 2017

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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]

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Best Regards,
CRIF Dun & Bradstreet Communications Team

CGI | Issue 64 | April 2017

Country Risk Update - Saudi Arabia

Saudi Arabia has enjoyed a series of strong structural current account surpluses over the past decade, allowing it to build up significant FX reserves and reduce its foreign debt. The Saudi Arabia’s oil reserves, which have allowed it to build up huge financial buffers, will support short-term government spending, despite the downturn in the oil price. Longer-term growth will be driven by government reforms under its Vision 2030, to reduce its dependence on oil export revenues and boost the private sector. High levels of recurrent government spending, alongside declining oil prices, have undermined the fiscal position.

Business, Finance and Commodity News

RAK real estate market surges 45% since 2011

The real estate sector in the emirate of Ras Al Khaimah expanded by 45 percent between 2011 and 2015, according to a study by the RAK Chamber of Commerce. The size of the sector increased from AED3.401 billion in 2011 to AED4.947 billion in 2015.The real estate sector ranked third after the industrial and tourism sectors in terms of its overall contribution to the AED9.08 billion RAK economy in 2015.

Kuwait to borrow more from international market

Kuwait will increase its borrowing on international markets to plug a budget deficit resulting from low oil prices. The move comes after the Gulf state raised $8 billion last month in its first international bond issue. Kuwait projected a deficit of $29 billion in the 12 months to March 31. The country is expecting a deficit of some $21.6 billion for the next fiscal year. The government also withdrew unspecified amounts from its reserves, to meet the budget deficit.

Business activity growth in UAE’s private sector touches 25-month high

The UAE’s non-oil private sector registered strong growth in March, in line with the trend so far this year. Growth in the sector was led by expansion in business activity, which touched a 25-month high. New projects, a further general improvement in economic conditions and market demand were reported as factors behind output growth. The headline index, which reached a 19-month high of 56.2 in March, from 56 in February.

Dubai real estate deals rise to $20.9bn in Q1

Dubai recorded a sharp rise in the value of real estate transactions during the first quarter of 2017 compared to the same period last year. The real estate authority said it saw a total of AED77 billion ($20.9 billion) worth of deals in the first three months of the year, up from AED54.7 billion in January to March 2016. there were a total of 20,000 real estate transactions in the same period. The value of transactions rose by 45 percent.

Commodity Tracker

D&B Article of the Week

The Global Risk Matrix

Dun & Bradstreet’s Global Business Impact (GBI) score for Q4 2016 worsened for a third consecutive quarter, to 281 (out of a maximum of 1,000), from 243 in Q3. The Q4 figure is the second highest on record, and is only just below the all-time high of 283 recorded in Q3 2014. The developments in Q4 take the score significantly above the long-term average (254.2) for the first time since Q3 2015. Nevertheless, the average of 247.25 for 2016 is an improvement on the averages seen in 2015 (248.75) and 2014 (261.50). The latest score confirms our view that business conditions are still feeling the after-effects of the global financial crisis, and the risks have been further compounded by political issues. 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

Int'l Apparel and Textile Fair
Apr 8 - Apr 10
Dubai Int'l Exhibition Centre

ING Creative Festival 2017
Apr 13 - Apr 15
Al Serkal Avenue

Reading Recommendation of the Week

The 4-Hour Work Week

Forget the old concept of retirement and the rest of the deferred-life plan–there is no need to wait and every reason not to. Whether your dream is escaping the rat race, experiencing high-end world travel, or earning a monthly five-figure income with zero management, The 4-Hour Workweek is the blueprint.

Release Date:
December 15, 2009