Saudi Arabia

Fixed Income | 20 Apr 16

Saudi Arabia is poised to tap the international loan market for the first time to raise $10bn (£7bn, €8.8bn) to help fill a huge budget deficit caused by the dramatic fall in oil prices, and may also issue a debut global bond, according to bankers cited in several media reports.

Commodities | 19 Feb 16

The impact of lower oil prices has caused ratings agency Moody’s to revise down its economic outlook for Saudi Arabia, in a week which saw rival agency Standard and Poor’s announce a two-notch downgrade of the country’s sovereign ratings.

Commodities | 27 Jan 16

Sometimes in global financial markets, change can be brutal as the market adjusts to a completely new reality. The second half of 2014 was one of these periods and witnessed the beginning of what would become one of the largest declines in global oil prices on record.

Middle East | 10 Jan 16

Saudi Arabia’s deputy crown prince has said the kingdom rules out introducing income and wealth taxes but aims to go live with VAT by the end of 2016.

Middle East | 11 Dec 15

Healthcare and education will be excluded from a planned Gulf-wide value added tax (VAT) scheme, which the Middle East region’s finance ministers have agreed on to shore up revenues in the wake of the recent sharp fall in oil prices.