You must log in or register to reply here. Added by: Lavette Santofimia Explainer. When will investors in the MiddleEast learn? As reported in the local UAE press over 7, residents were recently duped by Exential, a so called Forex Added by: Jenise Jankowsk Explainer. AE Top Country.
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Digital Marketing in Cleveland, OH. We deliver secure and compliant IT infrastructure services including colocation, cloud, connectivity and more. PA Top Country. Added by: Salma Tremosa Explainer. AU Top Country. Added by: Aizeti Dapperger Explainer. Report Your Issue. Clear your browser cache and cookies. There is a caveat, however. Only some Gulf states, like the UAE, have made significant progress at economic diversification and, as a result, are better placed to weather the downturn.
Despite diversification there is the visible slowing of the non-oil economy in the UAE. The expectation that the Gulf economies will have to draw increasingly on reserves is putting pressure on GCC currency pegs, as five of the six countries are pegged to the US dollar; only Kuwait links its currency to a basket. There is intense speculation that Saudi Arabia could be forced to devalue.
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Forward contracts on the Saudi riyal spiked in January, implying that the market expects devaluation. However, Oman and Bahrain look the most exposed to devaluation—both face spiralling deficits and limited reserves with which to defend their currencies. Nevertheless, Societe Generale says the chances of a devaluation of the Saudi riyal have increased.
The tightening economic environment is also fueling concerns over credit quality.
BDJS caught in vortex of existential woes
The force of sanctions meant the Islamic Republic had to adapt to the reality of lower oil prices much earlier than other oil exporters. If, as expected, Gulf economies decide to tap global bond markets to finance deficits, they may come under further pressure to liberalize their economies.
In a marked policy shift, Riyadh is widely expected to seek its first-ever foreign bond issue this year. Non-oil GDP growth is slowing but remains positive—large projects, including the World Expo in Dubai and the World Cup in Qatar, continue to buoy the banking sector. However, banks in Bahrain and Oman look vulnerable as a result of higher break-even prices for oil and their limited ability to support the economy without compromising credit-worthiness. Jan Dehn, head of research at emerging markets investment manager Ashmore, believes economic constancy is contingent on how well the GCC adjusts to lower national incomes.
The Middle East is not a newcomer to instability, but the polarization of current tensions places it in uncharted territory. Describing the region as a powder keg seems hackneyed, but the description is now more apt than it has been for a long time. This article appeared in issue April Articles with a lock are available only to registered readers. Neeraj was 26 year-old and he was not doing well in his recent venture of hotel business and slipped into depression and committed suicide.
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He also worked as a bouncer for some time. According to the police, Neeraj consumed sulphas tablets and complained of vomiting on Saturday morning and was taken to a private hospital where he died. NEW DELHI: Devastated by his father's illness who suffered from cancer, his own business loss, a man famous on social media as a bodybuilder, ended his life by consuming poison in the form of sulphas tablets.
On 15th March he committed suicide as per the medical reports, but his friends say there is a foul play. You agree to our use of cookies by continuing to use our site. To know more, see our.
Boss of foreign currency scheme arrested | The National
Vijay Tanwar did not make the Indian Olympic wrestling team and decided to become a bouncer instead. Hundreds of people gathered at his house from Delhi and outside.
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