Gulf Economic Barometer
The Gulf Economic Barometer monitors initiatives taken by Gulf states as they seek fiscal, monetary, and trade policy changes to meet the challenge of reduced state revenue from natural resources. The key trend is a major shift in the way Gulf Arab countries have been spending on public sector wages, infrastructure, and social services over the last decade. The GEB documents the policy changes as they are announced and/or implemented by country and by sector and is updated regularly as data becomes available. The information here is neither official nor exhaustive.
Qatar’s Shura Council approves a draft law concerning the establishment of the Investment and Trade Court to oversee legal disputes, including commercial contracts and bankruptcy disputes.
Qatar’s Shura Council approves a draft law concerning the establishment of the Investment and Trade Court to oversee legal disputes, including commercial contracts and bankruptcy disputes.
The UAE’s Ministry of Energy and Infrastructure and the Japanese Ministry of Economy, Trade, and Industry sign an agreement to explore joint opportunities in hydrogen development.
The UAE’s Ministry of Energy and Infrastructure and the Japanese Ministry of Economy, Trade, and Industry sign an agreement to explore joint opportunities in hydrogen development.
Dubai World Trade Center signs an agreement with the Israeli Export Institute to facilitate Israeli participation in UAE exhibitions.
DP World and Dubai Customs sign MoUs with Israel-based DoverTower to explore the development of trading links between the UAE and Israel.
The Public Establishment for Industrial Estates and its investment arm, Shumookh Investment and Services, sign an agreement with Advanced Universal Tech LLC to establish Oman Nano City in Sur Industrial City.
Oman's state-owned Duqm refinery closes $4.6 billion in financing from domestic and international sources.
Abu Dhabi Stimulus Plan [Infographic]
The government of Abu Dhabi announced a $13.6 billion stimulus package aimed at supporting economic development over three years. Crown Prince Mohammed bin Zayed al-Nahyan instructed officials to draw up detailed plans for allocating the funds over the next 90 days. Abu Dhabi's economy has stagnated in recent years as a result of lower oil prices, as well as austerity measures taken by the government to curb the rise in deficits. The new stimulus package includes 10 initiatives designed to streamline bureaucratic regulations and facilitate the ease of doing business in the UAE.
The Bridge: Competing Megaprojects in Kuwait and Saudi Arabia.
Market Watch: U.S.-Saudi Economic Ties: Why Saudi Arabia Matters
Market Watch: Payment Delayed: The Economic Risk of Gulf Contracting Practices
by Karen E. Young
Like the Bin Laden Group and Saudi Oger, Carillion has proved that the construction of megaprojects in the Gulf, however lucrative and central to state-led development plans, is full of pitfalls.
Market Watch: Oman’s Investment and Reform Strategy: “Slow and Go”
by Karen E. Young
Oman exemplifies the challenges of generating investment and infrastructure growth with diminishing fiscal resources.
The Bridge: ADNOC Accelerates Partnership Initiatives and Expands Investment Opportunities.
Issue Paper: Private Financing, Ownership, and Management of Gulf Infrastructure
Issue Paper: Prioritizing Renewable Energy in a Time of Fiscal Austerity
The Bridge: Abu Dhabi Share-Swap Deal with BP Forges New Contract Model
by Diane Munro
Abu Dhabi capped a year of unprecedented change at state oil company Abu Dhabi National Oil Company (ADNOC) with a landmark $2.2 billion share-swap with legacy partner BP. The unique model for a joint venture gives Abu Dhabi a 2 percent stake in BP in exchange for a 10 percent share in the country’s main onshore oil concession.