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Tag Archives: GCC

New wave of tankers hit, in Oman Gulf

Two oil tankers were hit in suspected attacks in the Gulf of Oman, shipping firms and industry sources said on Thursday, sending oil prices as much as 4% higher a month after four other tankers were damaged by limpet mines in the region. One of the tankers, the Front Altair, …

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A Win-Win for Iran and the Region

By Seyed Hossein Mousavian*   There is copious academic research on why the Middle East and North Africa (MENA) region is mired in ethnic and sectarian violence. However, the specific question of what workable models can be presented that would not only be effective in ending conflicts but also bring …

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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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