- Sort by:
- Score
- Published ▼
-
Egypt Issues $1.5Bn Eurobond Mandate
...ggested that the new Eurobond could be as high as $2bn, depending on the market. Cairo spent E£44.8bn ($5.9bn) on subsidizing oil products in the first half of the current fiscal year (July-December 2014), slightly less than half the amount of E£100bn ($13.2bn) budgeted for full year. With the steep fa...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
UAE Eyes FDI Boost
...ee zones. FDI surged 25% in 2014 to exceed $13bn, after a 9% increase in 2013 to $10.5bn, the minister noted, quoting UNCTAD statistics. He adds that under the UAE Vision 2021, his government aims to achieve foreign investment flows equal to 5% of GDP. He also said that the UAE is keen to rank fi...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Jordan Slashes 2014 Budget Deficit
...JORDAN Jordan Slashes 2014 Budget Deficit Jordan cut its deficit (after grants) by 55.6% to JD585.3mn ($825.3mn) for 2014. This equates to 2.3% of GDP, down from 5.5% of GDP (JD1.32bn - $1.86bn) for 2013. While spending rose by 11% to JD7.85bn, revenue rose by almost 18% to JD...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
$3.8Bn Syria Pledges
...neral Ban Ki Moon, 90% of the pledges made in 2014 were honored by the donors. Syrians are the victims of the “worst humanitarian crisis of our times,” the Secretary General says, and that he has only “shame and deep anger and frustration at the international community’s impotence to stop the war.” In...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Egypt Outlines 2015-16 Budget Guidelines
...dicators have shown some signs of improvement recently, the ministry noted, with GDP growth in the first half of the 2014-15 (July-December 2014) rising to 5.6% from 1.2% in the corresponding period of the previous year, and unemployment falling slightly to 12.9% in December 2014 from 13.4% in June 2014. Th...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Qatar’s Spending Spree Set To Continue
...ojections are prorated on the basis of 3/4 of their estimates in the current fiscal year ending on 31 March 2015. A law was issued earlier in March to extend the current fiscal year which runs from 1 April 2014 to 30 March 2015 by nine months until the end of 2015, instead of announcing a new budget fo...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
IMF Advises Iraq To Cut Spending Further
...oducing regions with exports expected to rise in 2015 to 3.1mn b/d from an average 2.4mn b/d in 2014. The number cited by the IMF is lower than the 3.3mn b/d on which the budget was calculated and in which Baghdad assumes a price of $56/B, just above the current price for Brent Blend futures (see p2...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
Kuwait May Tax Firms
...ficit of KD8.2bn ($27.3bn) after allocation of revenue to the Reserve Fund for Future Generations (RFFG). The new budget is based on an oil price assumption of $45/B, compared to $75/B in the current 2014-15 budget. The government has already cut subsidies on diesel, kerosene and jet fuel as of...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
Egypt Open For Business With $175Bn Of Deals Signed At Development Conference
...ods were also halved. The president said that Cairo aims to raise the GDP growth rate to 6% over the next five years –from 2.2% for 2014 and an IMF forecast 3.5% for 2015 – whilst cutting the unemployment rate to 10% from the current 13%. At the same time Mr Sisi confirmed that the government is co...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
Iran Slashes 2015-16 Oil Revenue Assumption
...ar beginning 21 March to 25% from the 33% originally mooted and 39% in the 2014-15 budget. This implies oil revenue of $24.1bn, down from $31.0bn in the previous draft. The budget was approved by the Iranian parliament on 3 March but needs the final green light from Iran’s Guardian Council, ch...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
Egypt Seeks Growth At Sharm El-Shaikh Conference
...stability following the February 2011 ouster of Husni Mubarak. Foreign direct investment has yet to recover. Egypt will use the conference to showcase its “Sustainable Development Strategy 2030” as well as its 2014-19 economic and social reform plan, which includes new legislation to attract investors to...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Jordan Slashes Spending In Bid To Halve Deficit
...e deficit forecast in the 2015 budget is some 49% lower in nominal terms than the 2014 budget figure of JD911mn ($1,284mn). Jordan’s finance ministry says the actual deficit was JD900mn ($1,269mn) for January-November 2014. The reduction in the deficit results from a cut of JD220mn ($31...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Fitch: Stable Saudi Outlook
...at lower oil prices, coupled with the spending package announced by the new King Salman (costing 4.3% of forecast 2015 GDP) will push the general government deficit into double digits (as a % of GDP) in 2015. Fitch calculates the deficit in 2014 at 1.9% of GDP, while overspending especially on key pr...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Syria’s Economic Hardships Intensify With Fuel Shortage
...ude production from the government-controlled areas slumped to 9,325 b/d in 2014, or a mere 2.4% of 385,000 b/d output before the start of uprising in March 2011. Syria’s imports of crude oil in the first nine months of 2014 were estimated at 124,600 b/d, according to The Syria Report. The tiny oi...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Egypt’s Qalaa Raises Capital
...th majority stakes in its core infrastructure and industrial investments. In 2014 Qalaa raised its capital to E£8bn ($1.05bn) from E£3.64bn ($478mn). According to Qalaa’s chairman Ahmad Heikal, the time is right to complete the company’s transformation through the acquisition of additional stakes in...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Lebanon Launches ‘Largest Ever’ $2.2Bn Eurobond
...a low cost, given that a 10-year bond in local currency would be priced at 7.46%. DEBT BURDEN TO EASE According to the minister, total debt stood at $66.5bn at the end of 2014, 62% of which is denominated in Lebanese Pounds, and the remaining 38% in foreign currency. He forecasts that the de...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Dubai’s DEWA Adding 700mw, Repays $1bn
...ndering for the 1.2GW Hassyan coal-fired plant, which will comprise two 600MW units due online in 2020 and 2021 (MEES, 19 September 2014). DEWA, meanwhile, says in a Nasdaq Dubai filing that it plans to repay a $1bn bond that matures in April out of its own cash reserves. The filing says DEWA’s ne...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Kuwait Parliament Ratifies $116Bn Development Plan
...wait’s chronically poor project implementation means that only three months from the end of the period covered by the previous plan (for 2010-11 to 2014-15) a mere 41% of the budgeted $110bn has been spent. The latest plan is part of Kuwait’s long-term vision of becoming a regional trade and fi...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
King Salman’s Social Package: A Likely Economic Stimulant
...if fiscal performance significantly weakens. The ratings could come under pressure if domestic or regional events compromised political and economic stability. The ratings agency adds that while in December 2014 it expected Brent oil prices to average $80/B in 2015 and $85/B in 2015-18, it now as...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Egypt’s Economy Begins To Turn The Corner
...Sharm al-Shaikh. Egypt is expecting to attract sizeable foreign direct investment at the event, to boost its ailing economy. With the successful implementation of these policies and confidence in recovery, the IMF is projecting growth to reach 3.8% in 2014-15, and edge up to 5% over the medium-te...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015