CGI Gulf Insights of the week-Feb-22

  • ByCGI Gulf Insights of the week
  • Monday, 22 February 2021
  • Published inFebruary 2021
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February 2021 [email protected] Issue No: 258
Country Risk Update -  Saudi Arabia

Risk Indicator  - DB4a
Risk Level        - Moderate
Ratings Trend  - Deteriorating
Short-term economic risk will increase as the Kingdom pledges to cut oil production in February and March, which will lead to a worsening of cross-border payment times. Weak oil prices over the next five years will see the government forced to liberalise the economy, opening up opportunities for cross-border investment and trade. Longer-term growth will be driven by government reforms under its Vision 2030, which aims to reduce dependence on oil export revenues and boost the private sector.
FlexxPay secures extra $3m funding ahead of Bahrain launch
(source:Arabian Business)
FlexxPay, a social impact technology company operating in the UAE and Saudi Arabia, has raised $3 million in a pre-series A round. The round was joined by leading international and regional investors including JIMCO, Target Global, Wamda, DIFC FinTech Fund, March Holding, Arzan VC...
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Citi is considering divesting some foreign consumer units
(source: Gulf News)
Citigroup Inc. is studying options for slimming down the firm's sprawling international consumer operations as part of incoming Chief Executive Officer Jane Fraser's efforts to simplify the bank.The company is weighing divesting certain units across retail banking in the Asia-Pacific region. ....
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Central bank digital currencies can co-exist with crypto assets, IMF says
(source: The National)
Central bank digital currencies can co-exist with privately issued cryptocurrencies as the dual monetary system evolves, according to the International Monetary Fund. Today’s dual monetary system involves privately issued money – by banks, telecom companies or specialist payment providers.....
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Saudi Arabia to establish bank of SMEs
(source: Gulf News)
Saudi Arabia’s Cabinet on Tuesday approved the establishment of a bank of small and medium enterprises, its state news agency reported. “The SMEs Bank brings together all financing solutions under one umbrella to enable the small and medium enterprises sector to access appropriate financing and achieve stability and growth,”....
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Commodity Update
(source: Nasdaq)
The weekly commodity update from Nasdaq
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Stock Market Update
(source: Mubasher)
The weekly stock market update from Mubasher
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Primary benefits of effective customer portfolio segmentation
(source: Dun & Bradstreet)
The primary benefits of effective customer portfolio segmentation for finance have the power to drive increased cash flow, collaboration, and with analytics for your...
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Leading the future together.
(source: CRIF)
A 7-day event with +60 live online sessions...that’s how our managers stay connected and join forces to lead the future!...
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