Category: ECONOMY

Dubai, Abu Dhabi lead regional market rally this week

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

Moody’s takes rating actions on 26 GCC banks

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.

OFIC to implement four food projects in Oman

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.

Moody’s downgrades Oman power & water procurement to A3 from A1

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.

Are you ready for a stronger dollar?

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.