For full coverage of Saudi Arabia’s budget, see MEED People with limited incomes won’t have to pay more for water and electricity as a result of increased utilities tariffs due to come into effect on 1 January as part of sweeping price…
Month: December 2015
Egyptian growth slows on forex, energy and tourism issues
For full coverage of Middle East business events, see MEED Foreign exchange shortages, restricted gas supplies for petrochemical producers and a slowdown in tourism activity due to security concerns in the second half of the year combined to hit trends…
NBK Capital upgrades NBAD to buy
For full coverage of Middle East business events, see MEED NBK Capital said on 29 December that it had upgraded its recommendation for shares in National Bank of Abu Dhabi (NBAD) to buy from hold despite cutting their fair value…
Jadwa investment says $40 a barrel oil enough to support Saudi budget
For full coverage of business developments in Saudi Arabia, see MEED Riyadh’s Jadwa Investment chief economist and head of research Fahad Alturki said in an investment note circulated today that oil prices close to present levels will be sufficient to…
Bank of America Merrill Lynch says Saudi 2016 budget is a landmark
For full coverage of Saudi Arabia, see MEED Saudi Arabia’s 2016 budget announced yesterday is a significant landmark for the kingdom’s economy that involves spending controls, a credible medium-term strategy and signs that there will be no short-term change in Riyadh’s…
Kerry confirms Iran on track to end of sanctions
For full coverage of business developments in Iran and the Middle East, see MEED US Secretary of State John Kerry said today that Iran has shipped more than 25,000 pounds of low-enriched nuclear material, including everything enriched to 20 per…
NBK downgrades Sabic to hold
NBK capital has reduced its recommendation for shares in Saudi Basic Industries Corporation (Sabic) to hold from buy an forecast a fall in the company’s 2016 and 2017 profits. “We have reduced our fair value for Sabic to SR 93.40 a…
NBK forecasts Kuwait economic growth
National Bank of Kuwait (NBK) has forecast the Kuwaiti economy will grow in nominal and real terms in 2016, but only if oil prices recover from levels seen at the end of 2015. It said in an end-of year review of trends…
King Salman’s speech defines the challenge; details to come
For full coverage of business developments in the Middle East, see MEED Saudi Arabia will seek to diversify its sources of income and improve the efficiency of government spending as it strives to reduce its dependence on oil revenue,…