GULF WEEKLY: UAE F-35s pass Senate, Morocco normalises, Qatar budgets conservatively

GULF COUNTRIES - Report 11 Dec 2020 by Rory Fyfe and Justin Alexander

A skimmable summary of key developments overlaid with our analysis and links to further information. Headlines include:
● The Gulf Summit may happen in Riyadh rather than Bahrain to facilitate a Qatar deal.
● The JCPOA was a central focus at the Manama Dialogue and Europe could play a key roll in mitigating Gulf concerns about a US return to the agreement.
● Morocco will normalise with Israeli in return for US recognition of its control of Western Sahara.
● Saudi Prince Turki al-Faisal clashed with Israel’s foreign minister in the Manama Dialogue.
● Aramco hired Moelis to advise it on a possible $10bn sale of a stake in its pipelines.
● The UAE’s PMI was in contraction for a second month on weaker output and confidence.
● UAE and Bahrain both approved Coronavirus vaccines, as UAE active cases hit a record high.
● The Senate narrowly approved the controversial sale of F-35 jets and drones to the UAE.
● Qatar based its 2021 budget on a $40 oil price and sees a -6.5% of GDP deficit.
● Oman formed a company to hold its stake in PDO and issue bonds to offset budget spending.
● The World Bank launched a recovery framework for Lebanon, as domestic politics got tenser.

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.