Saudi Arabia can circumvent its challenges | GulfNews.com:
"Saudi Arabia’s economy has the necessary financial wherewithal to overcome its several ongoing challenges, which has intensified due to steady dip in oil prices. The challenges include a widening fiscal imbalance, a drop in the Saudi bourse’s index and rising youth joblessness.
The SWF (Sovereign Wealth Fund) Institute puts the value the of Saudi Arabia’s sovereign wealth fund at $677 billion, the fourth highest in the world. The June number represents some 9.4 per cent of total SWFs in the world and the second largest within the Gulf after the UAE.
Saudi Arabia continues to enjoy notable credit ratings such as an AA- from Standard & Poor’s and AA from Fitch Ratings, providing a certain level of comfort for institutional investors interested in purchasing Saudi bonds. Nevertheless, both agencies opted to revise the outlook from stable to negative considering the adverse effects from the plunge oil prices and increased government spending. S&P made the move in February while Fitch followed suit this month."
'via Blog this'
Saturday, 29 August 2015
Dubai’s realty market in the grip of a bear hug | GulfNews.com
Dubai’s realty market in the grip of a bear hug | GulfNews.com:
"The UAE’s real estate sector is caught in a tight bear hug. And it’s not limited to what has been happening to property and construction stocks listed on the local bourses.
With a few exceptions, the first-half financials for the property majors have ranged from indifferent to abysmal. Union Properties saw a precipitous decline in revenues by 55 per cent in the first six months of the year from a year ago, while its net profit took a 93 per cent dive.
Deyaar, meanwhile, took a 72 per cent hit on its revenue numbers, but profit got a 24 per cent boost from one-off write-back of provisions."
'via Blog this'
"The UAE’s real estate sector is caught in a tight bear hug. And it’s not limited to what has been happening to property and construction stocks listed on the local bourses.
With a few exceptions, the first-half financials for the property majors have ranged from indifferent to abysmal. Union Properties saw a precipitous decline in revenues by 55 per cent in the first six months of the year from a year ago, while its net profit took a 93 per cent dive.
Deyaar, meanwhile, took a 72 per cent hit on its revenue numbers, but profit got a 24 per cent boost from one-off write-back of provisions."
'via Blog this'
Subscribe to:
Posts (Atom)