A nuclear deal between Iran and countries including the U.S. and Russia could prompt sovereign upgrades of Persian Gulf Arab nations even as it may cut their revenue by causing oil prices to fall, according to IHS Inc.
Five years after the United Arab Emirates began its steepest economic slump in two decades, a rebound has left policy makers pondering ways to avert a recurrence of the overheating that turned boom into bust.
Libya, holder of Africa’s largest crude reserves, is weighing its first bank loans as the OPEC member seeks financing to more than double refining and expand chemical production, in projects forecast to cost $60 billion.
The Qatar Investment Authority, the Doha-based sovereign wealth fund, agreed to invest $2.8 billion in Agricultural Bank of China Ltd. ’s initial public offering, according to two people with knowledge of the matter.
Bahrain’s sovereign credit ratings were lowered by Moody’s Investors Service, which said higher oil prices were needed by the government to balance its budget and cited the negative outlook on the banking sector.
The Qatar Investment Authority, the Gulf country’s sovereign wealth fund, agreed to invest $2.8 billion in Agricultural Bank of China Ltd. ’s initial public offering to tap growth in the world’s third-biggest economy.
Abu Dhabi, the oil-rich sheikhdom that spent 36 billion dirhams ($9.8 billion) bailing out its biggest developer in 2011, will probably reach for its checkbook again as property companies in the United Arab Emirates face a stalled market and deadlines to repay debt.
Qatar, host of the 2022 World Cup, may cut its benchmark interest rate by at least another half percentage point as the emirate seeks to trim the cost of building nine stadiums, roads and 40,000 hotel rooms, analysts said.