Gulf

S&P: Negative Rating Actions Taken On Qatari Banks

• On June 7, 2017, S&P lowered its long-term sovereign credit rating on the State of Qatar to ‘AA-‘ and placed it on Credit Watch with negative implications. In S&P’s view, the moves by a group of governments to cut diplomatic ties and trade and transport links with Qatar will exacerbate the country’s external vulnerabilities

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Al Jazeera Says Will Keep Editorial Independence in Gulf Dispute

By Tom Finn DOHA, June 8 – Qatar’s Al Jazeera will maintain its editorial independence despite a regional diplomatic crisis that has isolated the Gulf state, the Doha-based broadcasting network’s acting director-general said on Thursday. Mostefa Souag dismissed accusations by some Arab powers that Al Jazeera is interfering in their affairs through its reports. “All

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Some Egyptian Banks Halt Dealings With Qatari Banks After Rupture

By Asma Alsharif CAIRO, June 5 – Some Egyptian banks halted dealings with Qatari banks on Monday, four Cairo-based bankers said, responding to Cairo’s announcement that it had cut ties with Qatar, accusing it of supporting terrorism. Egypt’s action, announced in the early hours of Monday, was coordinated with similar moves by Saudi Arabia, the

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South Africa’s Zuma Denies Owning “Palace” in Dubai

JOHANNESBURG, June 4 – South African President Jacob Zuma has denied owning a “palace” in the United Arab Emirates, his office said on Sunday, after local media reported that an influential family bought him a home in the wealthy Gulf state. Graft accusations in more than 100,000 leaked documents and e-mails last week heaped more

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Descendants of Saudi Wahhabism Founder Distance Themselves from Qatar

DUBAI, May 28 – Descendents of the founding father of Saudi Arabia’s Wahhabi brand of Islam have sought to distance themselves from Qatar’s ruling family, according to a statement published on Sunday, in a further sign of a rift among Gulf Arab states. In the front-page statement, Saudi Arabia’s Okaz newspaper said that 200 descendents

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Trump Awaited in Middle East With Foreboding and Hope

May 18 – U.S. President Donald Trump will visit Saudi Arabia and Israel, two bastions of relative calm in the war-battered Middle East, on his first foreign trip beginning this weekend. In much of the region, authoritarian governments duel for power with political Islamists and militants as rival creeds and ethnic groups vie for dominance.

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Saudi Sale of the Century Lures Foreign Investment Banks, P.E. Firms

By Saeed Azhar and Tom Arnold DUBAI, May 16 – One of the world’s largest privatisation programmes is drawing foreign investment banks and private equity (PE) firms to Saudi Arabia, despite the prospect of low fees and an uncertain regulatory environment. KKR is among the U.S.-based PE firms joining regional companies such as Abu Dhabi’s

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Iran Says Gulf Worried About War Risks With Trump

DUBAI, Dec 12 – Donald Trump’s election has led to unease over threats to peace in the region, Iran’s defence minister said on Sunday, warning that a war would destroy Israel and the small Gulf Arab states. Trump’s election victory has raised the prospect the United States will pull out of a nuclear pact it

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Bosnian Businesses Go Halal to Serve Gulf Visitors, Eye Exports

By Daria Sito-Sucic SARAJEVO, Dec 7 – Bosnian banks, food producers and hoteliers are adopting halal standards to tap a fast-growing market thanks to the country’s large Muslim population, an influx of Gulf tourists and growing trade with the Arab world. Bosnia has one of Europe’s largest indigenous Muslim populations, traditionally liberal in its interpretation

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Gulf May Arm Rebels now Syria Truce is Dead

By Jonathan Landay and Arshad Mohammed WASHINGTON, Sept 27- The collapse of the latest Syria ceasefire has heightened the possibility that Gulf states might arm Syrian rebels with shoulder-fired missiles to defend themselves against Syrian and Russian warplanes, U.S. officials said on Monday. Still, the U.S. administration continues to maintain that negotiations are the only

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