Gulf weekly: Kuwaiti cabinet, Qatari budget, Qaboos concerns, Aramco stock decline

GULF COUNTRIES - Report 22 Dec 2019 by Justin Alexander

The weekly is a skimmable summary of key developments by country, overlaid with our analysis and links to further information. Headlines include:
* Aramco joined the MSCI EM Index but its price is down -8.8% from its peak.
* Qatar budgets a 1.9% spending increase and is reviving projects like the Sharq Crossing.
* Kuwait’s cabinet includes two new royals and the Gulf’s first female finance minister.
* It was confirmed that Kuwait will join the MSCI EM Index in May.
* There are growing concerns about Sultan Qaboos’s health, following his return from cancer treatment in Belgium.
* 9 Omani state oil & downstream firms with $28bn in assets are being merged into “OQ”.
* We are sceptical about the chances of Lebanon’s new prime minister securing Gulf support.

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