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COUNTRY INSIGHTS

GULF WEEKLY: PIF to hike capital deployment, Alat’s first deals, Turkey-ADQ sukuk on hold, Qatar’s Gaza mediation resumes
GULF COUNTRIES · Report · 23 Feb 2024

A skimmable summary overlaid with our analysis and links. Headlines: * Gulf states addressed the ICJ hearing on Israel’s occupation (requested by the UNGA in 2022). * Hostage release talks mediated by Qatar/US/Egypt are resuming in Paris today. * Inflation in January was higher in Kuwait (3....

GULF WEEKLY: Bahrain and Saudi deficits recorded, Kuwait’s Assembly is dissolved, Egypt plans for Rafah refugees
GULF COUNTRIES · Report · 16 Feb 2024

A skimmable summary overlaid with our analysis and links. Headlines: * The new OPEC+ quotas were implemented in Jan (UAE +1% m/m, Saudi flat, Kuwait & Oman -5%). * Egypt is building a compound for refugees as Israel prepares for an assault on Rafah, despite US concerns and mediation efforts; ...

GULF WEEKLY: Gulf tourism hits new records, Bahrain issues $2bn, Qatar-India LNG deal, no Gaza ceasefire
GULF COUNTRIES · Report · 09 Feb 2024 · 1 response

A skimmable summary overlaid with our analysis and links. Headlines: * Netanyahu called the Hamas ceasefire proposal “delusional” and is preparing to assault Rafah; this helped push oil back up to $82. * The US launched major strikes against Shia militias in Iraq, and Syria and continued to c...

GULF WEEKLY: Saudi slows oil expansion, IMF reveals stronger Oman surpluses, Kuwait budgets a big deficit, US soldiers killed in Jordan
GULF COUNTRIES · Report · 02 Feb 2024

A skimmable summary overlaid with our analysis and links. Headlines: * Brent crude eased back to $79, and OPEC+ delayed making a decision on Q2 output. * An Iraqi militia drone killed 3 US soldiers, the first during the Gaza war, with retaliation expected. * Qatar participated in Gaza ceasef...

GULF WEEKLY: Qatar upgraded, PIF issues $5bn in bonds, Kuwait foils ISIS plot, ICJ rules on Gaza as Qatari mediation continues
GULF COUNTRIES · Report · 26 Jan 2024 · 1 response

A skimmable summary overlaid with our analysis and links. Headlines: * The ICJ made a provisional ruling, and the EU criticized Netanyahu’s rejection of a Palestinian state. * Progress on a ceasefire and hostage release deal was shaken by Netanyahu’s criticism of Qatar. * US-Houthi clashes c...

GULF WEEKLY: Kuwait forms government, Qatar says green bond soon, Netanyahu rejects US/Arab two-state solution proposals, Iranian missiles hit targets in three countries
GULF COUNTRIES · Report · 19 Jan 2024 · 1 response

A skimmable summary overlaid with our analysis and links. Headlines: * Oil rose back towards $80, and OPEC sees oil demand growing by 1.8m b/d in 2025. * Netanyahu rejected talk of a Palestinian state after the war, despite Arab and US proposals. * China called for a binding roadmap to a Pal...

GULF WEEKLY: US strikes Houthis, Saudi issues $12bn in bonds, MBC soars after IPO, Qatar publishes development strategy
GULF COUNTRIES · Report · 12 Jan 2024

A skimmable summary overlaid with our analysis and links. Headlines: * Brent crude rebounded to $80 following US strikes on Yemen, days after it fell over Saudi price cuts. * The Gulf is divided, with Bahrain backing the strikes but Saudi, Oman and Qatar expressing concerns. * Meanwhile, the...

GULF WEEKLY: Oman and Sharjah budgets, Kuwait GDP after a 2-year hiatus, Kuwait PM nominated, Saudi cuts diesel subsidies
GULF COUNTRIES · Report · 05 Jan 2024 · 2 responses

A skimmable summary overlaid with our analysis and links. This report covers the two-week period from December 23, 2023. Headlines: * Brent crude recovers to $79 on worries about Libya protests and Gaza-related tensions. * As the Gaza war continued, Israel and the US assassinated militants in...

GULF WEEKLY: Qatar’s budget is moderate, Angola quits OPEC, Bahrain joins Red Sea coalition, Kuwait’s new Amir hints at changes
GULF COUNTRIES · Report · 22 Dec 2023 · 1 response

A skimmable summary overlaid with our analysis and links. Headlines: * Brent rose back to $80 despite Angola's quitting OPEC and surging US shale. * Despite renewed talks, a new Gaza ceasefire and hostage exchange is looking unlikely. * A quarter of Gazans are facing starvation, as Israel in...

KUWAIT: The new Amir's choice of crown prince is critical for the country's future
GULF COUNTRIES · Report · 18 Dec 2023

* Sheikh Mishal, age 83, succeeded as Amir on Saturday, after the death of his brother Nawaf. * He is a conservative figure with a background in national security and has been effective ruler for two years. * His choice of crown prince will set the tone for Kuwait in a critical decade. * The c...

GULF WEEKLY: COP28 targets transition from fossil fuels, US vetoes UAE’s ceasefire resolution, Dubai launches new sovereign fund
GULF COUNTRIES · Report · 15 Dec 2023

A skimmable summary overlaid with our analysis and links. Headlines: * The final COP28 text included an historic, albeit qualified, call to transition from fossil fuels. * Oil is headed for its first price increase in two months, on a dovish Fed and weaker dollar. * Biden called Israel’s bom...

GULF WEEKLY: Moody’s upgraded Oman again, oil touched a six-month low, Saudi budgets rising debt, Putin visited Gulf
GULF COUNTRIES · Report · 08 Dec 2023 · 1 response

A skimmable summary overlaid with our analysis and links. Headlines: * Brent oil touched $74, the lowest in nearly six months, as demand worries eclipsed OPEC+ cuts. * The UAE tabled a new Gaza ceasefire resolution at the UN, after a rare request from UNSC Guterres. * Gulf states displayed u...

GULF WEEKLY: OPEC+ extends cuts, Gaza ceasefire ends, Bahrain loses positive outlook, UAE launches $30bn climate fund
GULF COUNTRIES · Report · 01 Dec 2023

A skimmable summary overlaid with our analysis and links. Headlines: * The market was underwhelmed by extended OPEC+ cuts. * Saudi production in Q1 will be flat, UAE will rise by 1% and Kuwait and Oman will fall by -5%. * The Qatar-mediated ceasefire in Gaza ended today after a week, with Is...

GULF WEEKLY: Qatar mediates Gaza deal, China-Saudi currency swap, Qatar-Bahrain causeway revived
GULF COUNTRIES · Report · 24 Nov 2023 · 1 response

A skimmable summary overlaid with our analysis and links. Headlines: * The OPEC+ ministerial has been delayed for four days and shifted online, possibly indicating a lack of consensus. * A Qatar-mediated ceasefire began in Gaza and 24 hostages were released. * The war may have already killed...

GULF WEEKLY: Saudi hosts Gaza summit, Bahrain’s non-VAT revenue disappoints, Dubai orders 140 planes
GULF COUNTRIES · Report · 17 Nov 2023

A skimmable summary overlaid with our analysis and links. Headlines: * OPEC and the IEA continued to diverge sharply on 2024 oil demand projections, by 1.4m b/d. * The Arab-Islamic summit on Gaza in Riyadh produced strong rhetoric but no substantive actions. * Iran has indicated that it does...

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