After closing February on a strong note, the first week of March saw buyers doubling down and momentum continuing this current upswing, according to a recent market report released by Al Masah Capital, a leading Dubai-based alternative asset management and advisory firm
The biggest financial shock of 2016 could well be a devaluation of the Chinese Yuan.
The rating action on the banks was triggered by the weakening of their respective government’s credit profiles, as reflected by Moody’s review for downgrade of governments of Bahrain, Kuwait, Qatar, Saudi Arabia and United Arab Emirates (UAE) taken on March 4, 2016.
The Sultanate’s production of electricity in 2015 increased to more than 32.8 thousand GW, logging a 12.6 per cent increase compared to the production recorded in 2014.
Dr. Rashid bin Salim al-Masrouri , Chairman of Oman Food Investment Holding Company (OFIC) said that the company is implementing four major ventures at a cost of RO270 million . The ventures are expected to enhance food security and economic diversification in the Sultanate.
The appointment of honorary consulate for Ethiopia in Muscat in 2014 took Oman-Ethiopia relations to new heights.
Moody’s Investors Service, (“Moody’s”) today downgraded the long-term domestic and foreign currency issuer ratings of Oman Power & Water Procur. Co. (S.A.O.C.) (OPWP) to A3 from A1 and placed the ratings on review for further downgrade. Moody’s also placed six other Omani Government Related Issuers on review for downgrade. A complete set of companies (“the issuers”) and rating actions is listed below.
After a particularly rough start to the year, markets have re-assessed the policy outlook, even as February saw a bit of calming from China. Indeed, we also had a change to the baseline Fed call, where there are now 2 rate hikes expected this year instead of an original expectation of 3.
Standard & Poor’s Ratings Services projects that the 13 Middle East and Northern African (MENA) sovereigns that it rates will borrow an equivalent of $134 billion from long-term commercial sources in 2016. This compares with borrowing of $143 billion in 2015, which was more than double the $68 billion we expected would be borrowed in that year.
The Indian government unveiled a fire-fighting budget on Monday. Finance Minister Arun Jaitley’s third budget marked a strategic shift by addressing rural distress in a country of 1.3 billion, where two-fifths of families rely on farming and are reeling from two years of drought.
