– Despite high oil prices, many Gulf countries are following fiscally stringent strategies – Saudi Arabia is expecting its first budget surplus in eight years in 2022 – Some countries are introducing corporate taxes and VAT to bolster revenue – Governments are balancing the need for diversification with fiscal realities As oil prices reach 7.5-year highs, a number of countries in the…
In the wake of a period of severe disruption to global trade, Gulf shipping and logistics companies are adapting to government efforts to boost self-sufficiency in the region, while also investing in corporate digital solutions to improve communication with stakeholders, and predict and mitigate challenges along the supply chain. Looking ahead, shipping and logistics companies face growing sustainability…
– Increased demand and supply shortages have pushed oil prices to nearly $100 per barrel – The high-price environment could give rise to an increase in drilling and coal usage – Energy companies and governments say they will use the windfall to invest in renewables – Oil-producing countries in the Gulf have expanded their renewable energy commitments Amid an increase in global demand…
– Higher oil prices helped Middle Eastern countries return to growth in 2021 – Notwithstanding the rebound, some governments rolled out fiscal rationalisation plans – Business-friendly and social reforms were implemented to improve competitiveness – Major players stepped up investment in a range of renewable energy solutions On the back of higher oil prices and a stronger global economic…
– The UAE has launched two new visas to support growth in its tech ecosystems – Saudi Arabia has taken steps to attract the most highly skilled foreign workers – Other countries have sought to tighten restrictions in order to provide jobs for locals – GCC countries are balancing the need to upskill nationals and bring in global expertise Amid an attempt to drive a post-coronavirus economic…
Kuwait’s economy is characterised by a number of factors that helped it to withstand the severe strains caused by the pandemic. Deep and productive oil fields had contributed to high GDP per capita and one of the world’s largest sovereign wealth funds, while public debt levels were the lowest in the GCC. As such, Kuwait had the fiscal space to enact an effective response to economic challenges,…
– A first wave of M&A in GCC banking was prompted by the 2014 oil price crash – The coronavirus pandemic has given rise to the start of a second wave – Saudi Arabia and Qatar have seen major tie-ups finalised in recent months – Covid-19 fallout and an excess of smaller banks will prompt further consolidation More than a year after the initial onset of the coronavirus pandemic, the…
– Building and construction industry accounts for 38% of energy-related carbon emissions – Gulf countries are among those with the highest ecological footprint – Major projects such as the Dubai Urban Master Plan and Masdar City highlight the region’s progress – Continued investment needed to meet future sustainable construction goals As industries around the world increasingly turn…
Kuwait entered the pandemic in a relatively resilient position thanks to strong fiscal buffers, favourable demographics and an advanced health care system that benefitted from sustained investment that was proportionally higher than many of its wealthy GCC peers. These foundations enabled Kuwait to cope with the most severe medical and economic challenges related to the pandemic in 2020, and the…
Although still largely reliant on hydrocarbons, Kuwait has a number of macroeconomic strengths that helped it withstand the most severe impacts of the pandemic, including high GDP per capita, a strong sovereign credit rating and a deep sovereign wealth fund. While research and development (R&D) expenditure and investment lags behind the global average, Kuwait is home to strong scientific and…
