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Fiscal reforms, geopolitics to pressure GCC corporate profits

The GCC’s non-financial corporate sector is expected to face pressure on profitability resulting from fiscal consolidation efforts in the current year and the next, according to ratings agency Moody’s. “GGC governments have done fairly well in balancing reform implementation while preventing any systemic shock to the corporate sector. However, fiscal …

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2,000-year-old sculpture found in Saudi desert

An ancient sculpted rock, depicting camelids (even-toed ungulate mammals) and equids (a mammal of the horse family), has been found in the northern Saudi province of Al Jawf. Although the camel has been a common motif in the artworks of the region for millennia, the latest discovery is “unprecedented” in …

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Yemen PM ‘holed up’ as Aden palace surrounded

Southern Yemeni separatists have surrounded the presidential palace in the city of Aden following clashes with previously allied government forces. Prime Minister Ahmed bin Daghar and members of his cabinet were believed to be holed up inside the compound. The separatists – who had been backing the government in its …

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