The Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) said today that more than 1.4m guests stayed in Abu Dhabi hotels in January-May 2014, a 30 per cent increase on January to May 2013. Hotel occupancy in the emirate…
Month: June 2014
KRG tested by refugees, Baghdad budget squeeze and petrol shortage
The Kurdistan Regional Government (KRG), which is growing in status amid speculation that independence could result from the latest violent events in the rest of Iraq, is being tested by unprecedented economic challenges. At least 600,000 Syrian refugees and internally-displaced…
Baiji industrial complex too important for Baghdad to lose
The government of Iraq, working closely with US military advisers deployed this week at the request of embattled Iraqi Prime Minister Nouri al-Maliki, will act quickly to recapture the Baiji refinery and power complex, security specialists in Dubai have told…
UAE led GCC real estate market in Q1 2014: Gulf Investment House
UAE’s real estate market continued to lead the GCC real estate market in the first quarter of 2014 with residential sales prices rising by 30 per cent in Dubai in the year ending March, according to a report published yesterday…
Syria, Egypt and Iraq affecting Jordanian economy: IMF
Events in neighbouring countries are creating a challenging environment for Jordan which is nevertheless expected to record higher growth and lower inflation in 2014, according to a statement issued on 23 June following an IMF mission to the kingdom. “Jordan’s…
Kuwait real estate sales 24 per cent up year-on-year in May: NBK
Kuwait’s real estate market booming and sales in May were almost one-quarter higher than in the same month of 2013, according to the weekly economic report by the National Bank of Kuwait (NBK). “Sales were up from a year ago,…
The struggle for mastery of Iraq’s $20tn oil and gas reserves
According to the annual BP Statistical Review of World Energy published this month, Iraq has 150bn barrels of proven crude oil reserves. Its126.7tn standard cubic feet (scf) of natural gas reserves is the equivalent of a further 21bn barrels.…
IMF forecasts Bahrain will have moderate growth and higher public debt
Bahrain’s economy will experience lower growth and higher public debts, the IMF said in a statement issued last week following the annual Article IV consultation with the kingdom. The IMF called on the Bahrain government to counter higher government indebtedness…
Fitch affirms Bahrain at BBB with stable outlook
Fitch Ratings today affirmed Bahrain’s long-term foreign currency issuer default rating (IDR) at BBB and local currency IDR at BBB with a stable outlook. The issue ratings on Bahrain’s senior unsecured foreign and local currency bonds have also been affirmed…
Fitch affirms Kuwait at AA with stable outlook
Fitch Ratings today affirmed Kuwait’s long-term foreign and local currency issuer default ratings (IDR) at AA with a stable outlook. “Kuwait’s exceptionally strong sovereign balance sheet is the key support for the ratings,” Fitch said in a statement. “Very high…