CGI Gulf Insights of the week-Jan-5

  • ByCGI Gulf Insights of the week
  • Tuesday, 05 January 2021
  • Published inJanuary 2021
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Jan 2021 [email protected] Issue No: 251
Country Risk Update -  Oman

Risk Indicator  - DB5a
Risk Level        - High
Ratings Trend  - Deteriorating
The credit environment will benefit from a potential USD3-4bn bond issuance and the planned introduction of VAT, helping mitigate FX pressures and avoiding Gulf aid. Sultan Haitham's (so far) smooth succession reduces the risk of domestic instability and increases the likelihood of needed fiscal reforms. The economy has good potential for diversification, including tourism and logistics. - Although Oman is less exposed to regional tensions with Iran, given its location and neutrality, this could still impact its relations with Gulf neighbours..
Oman expected to add $779m in revenue from VAT this year
(source:Arabian Business)
The implementation of a five percent value-added tax in Oman this year is expected to bring in OR300 million ($779m), the Oman News Agency has reported, citing the Gulf nation’s finance minister. Oman’s 2021 budget...
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Iraq, Chinese firm in $2 billion oil prepayment deal
(source: Gulf News)
Iraq has agreed a multibillion-dollar oil-supply deal with a Chinese company, according to the Arab nation’s official news agency.SOMO, which oversees Iraq’s petroleum exports, picked a Chinese firm after receiving bids from .....
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Bahrain Central Bank extends loan repayment deferrals as virus impact continues
(source: Arabian Business)
The Central Bank of Bahrain has asked banks and financing firms to defer loan repayments for an additional six months starting January, in a move aimed at helping borrowers hurt by the coronavirus crisis.The option to postpone instalments....
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Optimistic outlook for UAE banks amid government measures to boost economy
(source: The National News)
The outlook for the UAE’s banking sector is optimistic for 2021 after the government introduced new measures to stimulate the economy, according to Bank of America.“While the backdrop remains cautious we see a number of factors.....
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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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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.....
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D&B: Worldwide Network by Dun & Bradstreet
(source: Dun & Bradstreet)
The Worldwide Network by Dun & Bradstreet is an unrivalled global partnership of Dun & Bradstreet and the world’s leading business information providers....
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