DUBAI Saudi Arabia posted a deficit of 109.2 billion riyals ($29.12 billion) in the second quarter this year as low oil prices hurt revenues, a finance ministry report published on Tuesday showed.
DUBAI, July 28 Most Gulf banks' profits plunged
in the second quarter after a spike in impairment charges for
expected credit losses, as regional economies reel from the
double blow of low oil prices and the coronavirus outbreak.
CAIRO/LONDON/DUBAI The threat of conflict in Libya, water security worries and a flatlining tourist sector risk upending a nascent rally in Egyptian bonds, bankers and economists say.
DUBAI Hospital operator NMC Health is looking to raise up to $250 million in debt while it prepares for insolvency proceedings in the United Arab Emirates and has picked Perella Weinberg Partners to advise it on the process, sources said.
DUBAI/RIYADH Saudi Arabia will look to sell assets in sectors not previously considered for privatisation, the country's finance minister said on Wednesday, as the country contends with the economic impact of sustained low oil prices.
DUBAI When Kapil left his Nepali village for an airport job packing cargo in the United Arab Emirates, he thought he was securing a future for himself and his family.
DUBAI, July 20 S&P Global Ratings said on Monday
it expected Gulf countries' government debt to increase by a
record high of about $100 billion this year, as funding needs
spike due to the coronavirus crisis and low oil prices.
WASHINGTON/DUBAI Finance officials from the Group of 20 countries on Saturday called for all official bilateral creditors to implement fully a short-term debt freeze for the world's poorest countries, but stopped short of extending the initiative into next year.
DUBAI The International Monetary Fund (IMF) has revised downwards its growth projections for the Middle East and Central Asia as economies were hurt worse than expected by the double blow of lower oil prices and the coronavirus crisis.