CGI Gulf Insights of the week-Jan-18 (266)

ByCGI Gulf Insights of the week
Monday, 18 January 2021
Published inJanuary 2021

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Jan 2021

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Issue No: 253

Country Risk Update - United Arab Emirates

Risk Indicator - DB3c

Risk Level - Slight

Ratings Trend - Deteriorating

The construction sector and its suppliers will face a challenging period after the liquidation of Arabtec, a major player in the sector. The 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. Regional tensions concerning Iran will disrupt supply chains and investment flows into the medium term. Government policy favours local firms and can change arbitrarily and without warning.

MARKET OVERVIEW

Abu Dhabi Department of Finance launches Dh6 billion supply chain financing initiative

(source:Gulf News)

The Abu Dhabi Department of Finance (DoF) Sunday announced a Dh6 billion supply chain financing initiative to support a variety of sectors, as a key initiative in its commitment to support small and medium enterprises (SMEs).The first phase of this initiative....

Investcorp to boost technology and healthcare investments in India

(source: The National News)

Bahrain-listed Investcorp is bullish about India and plans to buy companies in technology, health care and financial services as part of its aggressive push in the country.“Technology is an absolute important pillar of our investment thesis in India”....

Bahrain's Bank ABC buys Blom Bank Egypt's assets in $428m deal

(source: The National News)

Bahrain's second-biggest lender Arab Banking Corporation, or Bank ABC, is buying the Egyptian assets of Lebanon’s Blom Bank for 6.7 billion Egyptian pounds ($428.3 million).The deal is subject to the approval of Bahraini, Egyptian and Lebanese banking regulators....

Saudi Arabia’s top bank follows UAE lenders to dollar bond market

(source: Gulf News)

Saudi Arabia’s National Commercial Bank hired advisers to tap the dollar bond market, joining UAE banks to take advantage of investors’ appetite for yield.The bank mandated Citigroup Inc., Emirates NBD PJSC, Goldman Sachs Group Inc., JPMorgan Chase & Co...

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

How can businesses bounce back during the pandemic?

(source: Gulf News)

The year 2020 has been particularly chaotic. As Covid-19 spread across the country, professional goals set at the start of the year were thrown out.....