GULF WEEKLY: UAE-Israel normalization, Aramco dividend, Oman loan, Bahrain downgrade

GULF COUNTRIES - Report 14 Aug 2020 by Justin Alexander and Rory Fyfe

A skimmable summary of key developments overlaid with our analysis and links to further information. Headlines include:
● The UAE normalized relations with Israel, linking this to a suspension of annexation plans.
● Oil had a flat week as the IEA and OPEC both reduced their demand expectations.
● Aramco’s Q2 earnings showed just $6.1bn in free cash flow but it is sticking to its dividend.
● Kuwait will hold elections on 28 November and its pressing ahead with plans to cut expats.
● Oman secured a $2bn bridge loan until it issues a bond.
● Fitch downgraded Bahrain to B+ (Stable) on account of the crisis.
● Bahrain’s H1 fiscal outturn was grim as expected but does seem to show spending control.
● Lebanon’s government resigned and debt restructuring talks are on hold.

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.