GCC

This tag is associated with 39 posts

Obama’s Chilly Reception In Saudi Arabia Hints At Mutual Distrust

U.S. President’s low-key arrival and meeting with King Salman underscores tension that has deepened over US policy towards Iran and the war in Syria . Barack Obama arrived to a noticeably low-key reception in Saudi Arabia on Wednesday against a background of mutual irritation in a relationship tested by a turbulent Middle East, plummeting oil … Continue reading

Saudi Arabia Could Miss Out On MSCI Emerging Market Inclusion

By James Eugene Saudi Arabia’s acting chief executive has admitted that there is no certainty that the oil-rich nation could join the international index compiler’s emerging market index in 2017. Last year, it was heavily suggested that Saudi Arabia was looking at joining MSCI’s emerging markets list, with the potential of increasing inflows into the country’s bourse. But … Continue reading

The Silk Dragon Takes The Persian Road

By Pepe Escobar He came, he saw, and he pocketed all the deals that matter. Chinese President Xi Jinping’s tour of Southwest Asia – Saudi Arabia, Iran and Egypt – could easily be sold anywhere as your typical Chinese-style win-win. On the PR arena, Xi did a sterling job polishing China’s image as a global power. … Continue reading

Gulf States Are Expected To Lose $275bn In Revenue This Year Due To Falling Oil Prices

The crude exporting countries of the Gulf Cooperation Council (GCC) are expected to lose $275 billion in revenue this year due to falling oil prices, according to the International Monetary Fund (IMF) chief Christine Lagarde, RT reports. Speaking at a meeting in Qatar with the finance ministers and central bank governors of the GCC she … Continue reading

Sovereign Wealth Funds In The New Era Of Oil

By Rabah Arezki, Adnan Mazarei, and Ananthakrishnan Prasad As a result of the oil price plunge, the major oil-exporting countries are facing budget deficits for the first time in years. The growth in the assets of their sovereign wealth funds, which were rising at a rapid rate until recently, is now slowing; some have started … Continue reading

Goldman Sachs Looks To Saudi Arabian Stocks Following Market Opening

Following Saudi Arabia’s opening of its near $600 billion stock market to direct foreign investment, Goldman Sachs — which advises clients on over $1 trillion in investment — has applied to own and trade Saudi Arabian stocks, Bloomberg reports, citing people familiar with the matter. Goldman is seeking a qualified foreign investor permit from the Capital Markets Authority of Saudi Arabia, according … Continue reading

Saudi Arabian Wealth Fund To Invest Up To $10 Billion In Russia

Saudi Arabia has inked a commitment to invest up to $10 billion in Russia, the Russian Direct Investment Fund (RDIF) said on Monday. Russia’s RDIF and the Public Investment Fund (PIF) of Saudi Arabia agreed to create a partnership to invest $10 billion into projects in Russia, RDIF head Kirill Dmitriev told RIA Novosti. Russia’s latest deal with its … Continue reading

Flying Blind: Gulf Subsidies Debate Ignores Regional Realities

By Francis Wilson The ongoing debate over the fairness and transparency of state-owned enterprises (SOEs) in the Middle East intensified in March when three of America’s largest airlines entered the fray. In a 55 page white paper released to the public in April, American, Delta, and United attacked what they believed to be the unfair business … Continue reading

Saudi Arabia: An Emerging Frontier?

By Tanya Rawat Saudi Arabia has a solid economic track record and is taking steps to become more included in global financial markets. This includes the Morgan Stanley Capital International (MSCI) Emerging Markets Index, though the process is still in the early stages and some challenges remain. Saudi Arabia opened its markets to international investors on … Continue reading

Saudi Arabia Opens Up $585B Stock Market To Direct Foreign Investment

“Saudi Arabia’s stock market, valued at $585 billion, opened up to direct foreign investment for the first time Monday, as the kingdom seeks an economic boost amid low global oil prices,” The Street reports. “The opening of the Tadawul Saudi Stock Exchange allows companies, particularly those that are not in the oil business, to raise … Continue reading

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