CGI Gulf Insights of the week-Nov-30

  • ByCGI Gulf Insights of the week
  • Monday, 30 November 2020
  • Published inNovember 2020
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November 2020 [email protected] Issue No: 245
Country Risk Update -  Saudi Arabia

Risk Indicator  - DB4a
Risk Level        - Moderate
Ratings Trend  - Deteriorating
Business activity in most sectors - and tourism and hospitality in particular - is hit hard as the economy enters recession for the second time in 18 months. 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.
UAE-based financial comparison website eyes expansion in Gulf, North Africa
(source: Arabian Business)
A UAE-based financial products comparison website and app has plans to expand its services into the wider Gulf and North African markets, according to its co-founder.BankOnUs launched its app last month and....
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Islamic banking gains prominence in the United Arab Emirates
(source: Gulf News)
Islamic banking is gaining traction in the UAE in terms of progress, penetration and perception according to the latest Islamic Banking Index from Emirates Islamic.“Despite the current pandemic situation that affected Islamic and....
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French giant Amundi threatens to divest SBI bonds if loan granted for Adani coal project
(source: Gulf News)
One of the State Bank of India (SBI)’s investors, French giant Amundi has announced that it would sell off its SBI green bonds if the bank grants a Rs 5,000 crore loan to Adanis Carmichael coal mine in Australia.“We consider SBI should...
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DIFC's FinTech Hive signs deal with Israel's FinTech hub to boost co-operation
(source: The National News)
Dubai International Financial Centre’s FinTech Hive, one of the region’s leading financial technology accelerators, said on Saturday that it had signed a deal with Israel’s FinTech-Aviv to step up co-operation and help member companies expand...
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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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For the 8th year CRIF named to prestigious top 100 IDC Fintech Rankings
(source: CRIF)
The Fortune 500-style ranking categorizes and evaluates the top global providers of financial technology based on calendar year revenues from financial....
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Big milestone: Coverage of global businesses in the Dun & Bradstreet Data Cloud now surpasses 400 million!
(source: Dun & Bradstreet)
We recently reached a significant milestone: Coverage of global businesses in the Dun & Bradstreet Data Cloud now surpasses 400 million! ....
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