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S&P latest

Moody’s: Outlook for GCC Banks Stable for 2020
December 2nd, 2019 - 08:30 GMT

Moody’s: Outlook for GCC Banks Stable for 2020

The outlook for GCC banks remains stable on the back of solid regional economic growth along with strong capital buffers and substantial liquidity of banks, Moody's Investors Service said. "Government spending programs will push average non-hydrocarbon GDP growth to 2.6 percent in 2020, providing favorable operating conditions for the region's banks," said Nitish Bhojnagarwala, vice-president and senior credit officer at Moody's. "Declining interest rates will start to pressure banks' net ...
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Due to be implemented on 1 January 2018, IFRS 9 requires banks to take a more forward-looking approach to provisioning. (AFP)
May 30th, 2017 - 05:00 GMT

Impact of IFRS 9 on GCC Banks Will Be ‘Manageable’: S&P

OPEC members will meet on Thursday to discuss the prolongation of the oil cut deal. (AFP)
May 24th, 2017 - 05:00 GMT

Oil Prices Stall Ahead of Pivotal OPEC Meeting

GCC governments have taken steps to shift the burden of funding services such as healthcare to the private insurance sector and away from government. (File photo)
March 21st, 2017 - 02:13 GMT

Health insurance market in GCC shows signs of recovery: S&P

S&P also said it expected the Qatari riyal’s peg to the US dollar to be maintained. (File photo)
March 7th, 2017 - 04:58 GMT

Debt concerns push S&P's Qatar rating to negative

OPEC Secretary-General Mohammad Barkindo said there was strong coordination around the agreement, comments that followed reports suggesting stronger action in the second half of the year. (File photo)
February 26th, 2017 - 08:00 GMT

OPEC, non-OPEC reach 86 percent compliance with product cuts

Rosneft is Russia's largest oil producer. For the fourth quarter, the company said its net production was up 11.8 percent year-on-year for a new record high. (Shutterstock)
February 21st, 2017 - 05:24 GMT

Russia's Rosneft begins new drilling operations in Iraq

The IMF has urged the Lebanese government to look for new alternatives to reduce the mounting public debt.  (File photo)
February 16th, 2017 - 06:52 GMT

Lebanon: Proposal to raise taxes met with opposition

An S&P study found that 50 percent of sukuk investors were based in the GCC.  (File photo)
February 8th, 2017 - 08:00 GMT

Muted GCC sukuk market unrelated to lower bank liquidity: S&P


Sectors that have been hit the hardest so far include the private sector oil and gas and construction industries, that are faced by lower investment, project delays, retendering, margin pressure and delays in customer payments. (Shutterstock)
October 19th, 2016 - 11:00 GMT

Gulf GREs can weather dip in oil prices: S&P

GCC sovereigns' financing needs will likely remain substantial over the next several years, given the region's almost uniform dependence on hydrocarbons. (File photo)
October 18th, 2016 - 04:37 GMT

GCC sovereign finance may need up to $560B: S&P

A broader consensus around the need to standardize legal structures and Sharia interpretation could help the industry to progress, according to S&P. (File photo)
September 5th, 2016 - 12:55 GMT

Islamic finance: Cheap oil, lack of industry standardization will impact growth

A picture of US-based preacher Fethullah Gulen placed on a hanging dummy in front of a Turkish national flag at Kizilay Square in Ankara on August 2, 2016, during a protest against July's failed military coup. (AFP/Adem Altan)
August 11th, 2016 - 04:00 GMT

Purge: Erdogan regime urges business officials to inform on suspected ‘Gulenists’

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