GULF WEEKLY: Erdogan visits UAE, PIF gets Aramco equity, Kuwaiti ministers resign

GULF COUNTRIES - Report 18 Feb 2022 by Justin Alexander

​A skimmable summary overlaid with our analysis and links. Headlines:

* Saudi Arabia appears to have rebuffed US advances to boost production to ease market pressures.
* Details of the Iran nuclear deal indicate a confidence-building stage, then sanctions' lifting by mid-year.
* $80bn of Aramco equity was transferred to PIF, as collateral for borrowing or potentially to sell.
* The IMF’s Article IV for the UAE provides detailed fiscal forecasts and a debt breakdown.
* The UAE signed a trade deal with India and started negotiations with Turkey during Erdogan’s visit.
* Apollo Global is buying a $1.4bn stake in Abu Dhabi property firm Aldar.
* Qatar is undergoing an outage in LNG trains representing 20% of its output.
* Kuwait’s foreign minister narrowly survived a no-confidence vote but the interior and defense minister resigned over disputes with parliament.
* Tourism rose by 62% m/m in Oman in December but Bahrain, which is closest among the Gulf states to its 2019 arrivals level, saw a -14% m/m decline in January, likely as a result of Omicron.
* Covid restrictions were eased further, including Kuwait's lifting quarantine requirements.
* Israel’s prime minister visited Bahrain, and an Israeli naval officer will be stationed in the country.
* Iraq’s supreme court barred Hoshyar Zebari as a presidential candidate so the KDP named an alternative who is likely to be selected.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.