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Middle East

Oil Plunges as OPEC Standoff with Russia Escalates

While the cartel and Moscow wait to see who blinks first, Brent could fall below the crucial USD50-mark by April.

6 Mar 2020

Saudi Construction Sector to Grow 1.4% this year, Average 3.2% Annually to 2029

Saudi Arabia’s construction sector is forecast to grow 1.4% in 2020 and 2.1% in 2021, Fitch Solutions said in a report published this week.

6 Mar 2020

Alhokair Group Inks Islamic Loan and Revolver with Local and Regional Lenders

Alhokair Group secured a USD800mn funding package this week from a handful of domestic and regional lenders in a bid to consolidate its debt, the company said.

5 Mar 2020

DAE Recommends Buying its Own Dip in Bond Repurchasing Boost

Dubai Aerospace Enterprise (DAE) has touted its bond repurchasing programme in a bid to shore up demand for its outstanding notes, a move that could be replicated by other regional issuers seeing a drop-off in credit demand.

3 Mar 2020

SWOT: KSA Dominates GCC Infrastructure Pipeline Despite Lack of Mega-Project Expertise among Local Developers

Bonds & Loans examines the strengths, weaknesses, opportunities and threats across the GCC projects and infrastructure space on the back of the latest Project, ECA & Structured Finance Saudi Arabia conference.

3 Mar 2020

Volatility Could See Gulf Issuers Shun Bonds for Loan Markets

With spreads widening and bond pricing on the rise, some Gulf-based issuers are looking to maintain a holding pattern until market volatility subsides, while others could lean on the region’s large lenders for funding.

3 Mar 2020

GCC Non-Performing Loans May Deteriorate on Weaker Activity in 2020

GCC banks’ asset quality is likely to stay under pressure as asset growth is showing signs of peaking, according to Fitch Solutions.

28 Feb 2020

Oil, Non-Oil Growth Continue to Head in Opposite Directions in Saudi Arabia

The Saudi economy experienced a temporary growth slowdown through much of 2019 while non-oil growth saw one of the strongest performances in a year, a trend analysts believe may continue through much of 2020.

28 Feb 2020

CASE STUDY: Al Dur 2 IWPP Secures Long-Term Capital Despite Tough Ratings, Economic Outlook for Bahrain

The multi-faceted USD880mn long-term funding package made use of a number of innovative structural features to help overcome any concerns among liquidity providers over Bahrain’s economic outlook or sovereign rating.

27 Feb 2020

Lingering Trade Tensions, Coronavirus Risks Means GCC Debt Yields Could Widen – then Tighten Further

GCC debt yields spent much of 2019 outperforming the wider emerging market and global fixed income universe, and while global yields also trended downward on the back of strong economic data and easing trade tensions, economists at the National Bank of Kuwait (NBK) say spreads still have room to tighten in 2020.

27 Feb 2020

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