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FINANCIAL NEWS
GCC States to raise USD50bn to cut deficit
04 Oct 2016
(MENAFN) GCC States are planning to raise funds at USD50bn in order to reduce deficits which are predicted to grow with oil prices remaining low.
However, the equity and bond markets of the UAE emirates of Abu Dhabi and Dubai; Kuwait and Saudi Arabia also showed a drop.
Meanwhile, GCC deficits are predicted to grow, with sovereign and corporates likely to lever up, which will lead to more rating downgrades.
Moreover, bonds need buyers, which mean that the market needs to be in the right shape, not just the pricing.
More News
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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