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Tag Archives: GCC

Internal audit needs to go digital

The ongoing era of digital transformation taking place in the region promises profound change and great opportunity, but it also brings new risks and uncertainties. As the business function that evaluates risk management, internal audit could be critical to making an organisation’s digital transformation a success. Equally, unless the function …

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Moody’s downgrades Bahrain to B2

Moody’s has downgraded the Bahrain government’s long-term issuer ratings to B2 from B1, and maintained its negative outlook. The ratings firm said on Thursday evening that the new rating assumes Gulf Cooperation Council members will provide some financial support to Bahrain, but the negative outlook reflects the risk that the …

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Saudi Arabia’s expat tax conundrum

This month was the end of the line for many Asian expatriates in Saudi Arabia who chose to return home following the conclusion of the school year and final exams. With rising levies on each expat every successive year, many of them folded up and made preparations for an early …

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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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UAE denies it violated Qatari airspace

The UAE has denied a Qatari claim that its airspace was violated by an Emirates’ military aircraft in December. UAE Minister of State for Foreign Affairs Dr Anwar Gargash tweeted on Friday: “The Qatari complaint about the UAE’s violation of its airspace is untrue and confused; we are working to …

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