Friday 26 December 2014
 
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Standard & Poor’s

S&P cuts Saudi-Oman outlook on low oil price

Standard and Poor's (S&P) has lowered the outlook for the world's top oil exporter Saudi Arabia to stable from positive and its Gulf partner Oman to negative on sliding oil prices, a report said. However, the ratings a

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StanChart hit with first S&P downgrade in 20 years

Ratings agency Standard & Poor's (S&P) cut its credit rating on Standard Chartered for the first time in 20 years on Friday, citing the "tough period" the Asia-focused bank was going through and its weaker credit-worthiness

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Jobs and skills key to beat Gulf’s oil dependency

Now that oil prices have fallen to around $80 per barrel from around $100 in the past few months, the economies of the oil-exporting nations of the Gulf Cooperation Council will be tested. A key question for their future prosperity is: Have they

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Jobs and skills key to beat Gulf’s oil dependency

Now that oil prices have fallen to around $80 per barrel from around $100 in the past few months, the economies of the oil-exporting nations of the Gulf Cooperation Council will be tested. A key question for their future prosperity is: Have they

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Islamic finance on growth track despite hiccups

The GCC Islamic Finance industry is expected to maintain its rapid growth over the coming years despite mixed results across sectors in 2014, according to Standard & Poor’s Ratings Services (S&P). The GCC Islamic Fin

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Arab Mediterranean banks facing political turmoil

Banks in the Arab Mediterranean region will continue to encounter turbulent and challenging operating conditions in 2014-2015, according to a report published by Standard & Poor's (S&P) Ratings Services. Protracted reg

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Global sukuk market set to expand in 2014

Despite some headwinds, long-term prospects for the sukuk industry remain promising as regulators continue to build and strengthen their frameworks to minimize barriers in the market and deepen liquidity, Standard & Poor's Ratings Servic

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Merger issues ‘may cause GCC insurers to default’

Inflated valuations and a reluctance to relinquish control are preventing smaller insurers in the GCC from consolidating, and in a move to avoid reporting losses, they could distort market pricing for all, a report said. A small n

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Competition ‘harming UAE takaful sector’

Despite rising contributions (premiums), which grew at over 15 per cent in 2012, the UAE takaful sector is not performing effectively for either the fund members, through generation of reliable fund surpluses for distribution, or shareholders, t

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NBK receives top S&P rating

Standard & Poor’s, the international credit rating agency, has affirmed the long-term credit ratings of National Bank of Kuwait (NBK) at A+, the highest in the Middle East. Earlier this month, Moody’s Investors Ser

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