GULF WEEKLY: Kuwait’s Crown Prince will oversee government formation, QCB governor appointed, Saudi floating city envisaged

GULF COUNTRIES - Report 19 Nov 2021 by Justin Alexander

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

* Oil dipped below $80 on Covid concerns and the potential release of strategic reserves. However, continued production problems for some OPEC members is more bullish for 2022 prices.
* Saudi Arabia naturalized new citizens, including a prominent Palestinian-American scientist.
* The latest grand project for Neom is Oxagon, envisaged as a floating industrial city.
* In Yemen, the Houthis made further strategic gains to the gates of Marib and on the West Coast.
* Upcoming Dubai IPO possibilities include Salik, Emirates Airline and Habtoor Group.
* The sale of US F-35s to the UAE seems to be dependent on a reduction in Chinese ties.
* The new Qatar Central Bank governor is Bandar bin Mohammed bin Saoud Al Thani.
* Qatar’s inflation surged to 4.3% y/y, the most since 2008.
* Kuwait’s Amir delegated government formation to the Crown Prince, likely due to health problems, as opposition figures returned from exile in Turkey.
* In Oman, OQ and EDO are considering bonds for 2022, and OQ could IPO some of its assets.
* Bahrain plans to cut operating expenses by -20% in 2022 as part of its fiscal balance program.
* Candidates for Libya’s presidency include Khalifa Haftar, the prime minister, and Said al-Islam Ghaddafi.
* In Iraq, Muqtada al-Sadr is looking to form a majoritarian government with Sunnis and Kurds.

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