Samsung Electronics Co. Ltd launched the newest additions to the Galaxy family of products, Samsung Galaxy S7 and Galaxy S7 edge to consumers in The Sultanate of Oman at the Crowne Plaza Muscat earlier today.
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.
The latest figures issued by the National Centre for Statistics and Information (NCSI) show that the revenues of hotels classified as 3–5 stars reached RO 192,133 million during 2015, compared with RO 191,492 in 2014.
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.
The deepening oil price slump will intensify pressure on banks globally, with those in major net oil-exporting countries most exposed to credit risks in the near-term, said Moody’s Investors Service.
“Hospitality markets across MENA witnessed a less than ideal performance in 2015, compared to 2014. While occupancy rates increased across some markets in 2015 such as Cairo, Madina, Muscat and Ras Al Khaimah, revenue per available room (RevPAR) across most MENA markets was lower compared to 2014.
According to the recent Alpen Capital report, development of the healthcare sector has taken a center stage in the GCC countries, as they witness an era of demographic transition accompanied by rising prevalence of lifestyle-related diseases.
Continued low oil prices could have an increasingly negative impact on banks across the Gulf Cooperation Council (GCC), according to Moody’s Investors Service in a report published today.