CGI Gulf Insights of the week (copy 131) ) (362)

ByCGI Gulf Insights of the week
Monday, 10 January 2022
Published inJanuary 2022

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January 2022

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Issue No:301

Country Risk Update - United Arab Emirates

Risk Indicator  - DB3c
Risk Level     - slight
Ratings Trend  - Deteriorating

Political and security risk should improve as the UAE responds to US pressure to adopt a less assertive foreign policy, but Iranian reaction could still raise. UAE continues to strengthen its position as a regional safe-haven and business hub. Access to global markets from Dubai are among the best in the world.

MARKET OVERVIEW

Oil prices at two-month high on supply concerns and steady demand

(Source: The National )

Crude prices settled at a two-month high on Friday as demand remained steady despite a high number of Covid-19 infections and amid tight supply due to operational disruptions in some oil-producing countries.

Dubai World Trade Centre to become regulator for virtual assets and crypto

(source: Gulf Business )

The Dubai World Trade Centre (DWTC) is set to become a “comprehensive zone and regulator” for virtual assets and crypto including digital assets, products, operators..

Sheikh Mohammed approves Dubai budget of Dhs181bn for 2022-2024

(source:Gulf Business )

The government of Dubai has approved a general budget for the fiscal cycle of 2022-2024, with a total expenditure of Dhs181bn....

Dubai records more than $690m in property transactions on first working Friday

(source: The National )

The value of property transactions in Dubai on the first Friday of the new working week in the UAE stood at more than Dh2.53 billion ($690 million), with 227 transactions....

COMMODITY & STOCK MARKET UPDATE

Commodity Update

(source: Nasdaq)

The weekly commodity update from Nasdaq

Stock Market Update

(source: Mubasher)

The weekly stock market update from Mubasher

CRIF D&B WORLD

Do SMEs present an opportunity for banks?

(Source:CRIF)

Do SMEs present an opportunity for banks? Yes, they are! The European SME segment includes over 25 million companies with a total turnover of over €10bln Nearly 35% of SMEs in Europe state that access to finance is a critical issue for them..

CRIF announces the acquisition of ICAP group of companies - the largest B2B Services Group in Greece..

(source: CRIF - Dun & Bradstreet)

CRIF announces the acquisition of ICAP group of companies - the largest B2B Services Group in Greece, with a strong presence also in Romania, Bulgaria and Cyprus. The acquisition will strengthen CRIF’s leading position in the field of business and credit information and risk management solutions in the Region. .