Qatar’s government will need a total of QR 159bn ($43.7bn) in 2017-21 to deal with budget deficits forecast for the period, the IMF’s 2017 Article IV report on the country says. The fund forecasts total Qatar government debt will rise…
US Syria missile attack seals new partnership with Saudi Arabia
The US missile attack on a Syrian airfield last night comes just over three weeks after Saudi Arabia’s Deputy Crown Prince Mohammed Bin Salman met President Trump in the White House in what an advisor to the kingdom’s defence…
S&P downgrades Qatar outlook
Standard & Poor’s (S&P) has affirmed Qatar’s long-term rating at AA and short-term rating at A-1+ but revised its outlook to negative because of evidence of growing external indebtedness in a report issued on 3 March. “The negative outlook reflects…
Middle East to borrow $136bn in 2017
Middle East and Northern African (MENA) sovereign borrowing will total $136bn in 2017, S&P Global Ratings says in a new report. That will be 20 per cent down on the figure recorded in 2016. In 2017, $28bn of MENA sovereigns’ gross…
Saudi carmaker to use aluminium
Saudi Arabia National Automotive Manufacturing Company (Snam) has agreed to increase the aluminium content in vehicles it plans to produce. The aluminium is to be supplied by Saudi Arabian Mining Company (Ma’aden). Ma’aden operates one of the world’s largest fully…
Trump’s bans may be better than Obama’s bombs
President Trump signs an executive order calling for extreme vetting of migrants from 7 mainly Muslim countries on 27 January Hastily drafted and badly executed, President Trump’s discriminatory and unfair visa bans announced on Friday may nevertheless to do more…