Gulf weekly: Rouhani-Trump could meet, Abu Dhabi may issue and Aramco looks to Tokyo

GULF COUNTRIES - Report 01 Sep 2019 by Rory Fyfe and Justin Alexander

It was another busy week politically in the region, with a further uptick in tensions in Lebanon and Yemen (not to mention Palestine, in the run-up to Israeli elections and the Kushner peace plan), but also unexpected openness to a possible US-Iran detente (we're skeptics). At a time when regional bond markets are caught in the broader global flight to safety and quality, Abu Dhabi is reported to be considering its first issuance in two years. The biggest economic news was probably on the Aramco IPO, with new rumours that it could start local and then move to Japan. In the UAE, Mars bought out its local subsidiary under the new foreign investment law, which could be the start of an important trend.

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