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Saudi Arabia

Saudi Rating Cut for First Time at Fitchon Lower Oil Prices

The kingdom’s rating was lowered one level to AA-, the fourth-highest investment grade, the rating agency said on Tuesday. It maintained a negative outlook for the credit, signaling the possibility of more downgrades.

Source:  Bloomberg, 2016/04/12

By |April 19th, 2016|Categories: News|Tags: , , |

What do you want to buy Saudi Arabia?

Saudi Deputy Crown Prince Mohammed bin Salman recently gave an interview to Bloomberg in which it described the country’s ambitious plans to develop its Public Investment Fund (PIF) into the largest sovereign wealth fund globally.
Gulf States’ sovereign wealth funds (SWF) are regularly drawing attention from the public, the media, and economic players. Sometimes this is […]

Fiscal consolidation to deliver results next year

Saudi Arabia’s economic growth slump resulting from oil price decline is expected to bottom out in 2017, largely driven by revival in non-oil economic activity, fiscal consolidation efforts and stabilisation of Brent crude above $40 barrel according to analysts.

Source:  Gulf News, 2016/04/10

By |April 12th, 2016|Categories: News|Tags: , , |

Saudi Arabia’s Oil Chief Prepares for a World After Fossil Fuels

Even as it pumps near-record quantities of oil, Saudi Arabia is getting ready for a time when the world will no longer need its biggest export. The world’s largest crude exporter is focusing on renewable-energy sources such as solar power in preparation for a post-oil global economy, Oil Minister Ali al-Naimi said at a […]

By |March 22nd, 2016|Categories: News|Tags: , , , , |

Lowering projections on low oil prices: a sound decision?

In its February release of its Short-term energy outlook, the American Energy Information Administration decided to revise downward its expectations for the global Brent crude contract for this year and for 2016. The new projections are now USD 34.28/barrel in 2016 and USD 40.09/barrel in 2017 (from the previous USD 37.00/barrel and USD 50.00/barrel). It […]

By |March 9th, 2016|Categories: Analyst's Insight|Tags: , , , , |

And then Leo spoke…

Leonard DiCaprio finally won his Oscar… After five unsuccessful nominations, he finally got to walk on stage and thank his parents for all they did for him. That is almost what happened…  This is what he said instead “Making The Revenant was about man’s relationship to the natural world. A world that we collectively felt […]

By |February 29th, 2016|Categories: Analyst's Insight|Tags: , , , , , , |

Why Sovereign Wealth Funds are Selling Equities

The world’s capital markets have been roiled this year by rumors that sovereign wealth funds of oil-dependent states are selling foreign assets to redirect money home to plug budget deficits and repatriate captial. Some institutions, such as Malaysia’s large pension funds and the Saudi Arabian Monetary Agency, the kindom’s central bank, are indeed answering calls […]

By |February 23rd, 2016|Categories: News|Tags: , , , |

Markets sense oil country ratings still have further to fall

Financial markets are betting that Wednesday’s mass downgrade of oil producing countries by Standard and Poor’s won’t be the last and that Saudi Arabia may fall to just above junk status after oil-producers failed to agree on cuts to boost prices. S&P delivered a double-notch downgrade to Saudi Arabia, stripped Bahrain of its ‘investment grade’ […]

By |February 23rd, 2016|Categories: News|Tags: , , , , , , , , |

Oil prices trim gains as Saudi Arabia, Russia agree to output freeze

Crude oil prices pared back from earlier sharp gains Tuesday morning, after energy ministers from major oil producers agreed to freeze output, but not to cut production. On the New York Mercantile Exchange, light, sweet crude futures for delivery in March CLH6, +1.29% rose 65 cents, or 2.2%, to $30.09 a barrel in the […]

By |February 16th, 2016|Categories: News|Tags: , , , |

GCC debt to double, assets to slide by 2020: report

Public debt of the oil-rich Gulf states is expected to double and assets decline by a third by 2020 as they seek to finance budget deficits due to sliding prices, a report said Tuesday. After having posted massive deficits of $160 billion last year and faced with a $159 billion deficit in 2016, the six […]

By |February 16th, 2016|Categories: News|Tags: , , , |