Oman’s Fiscal Turnaround, A Deep Dive into the 2023 Debt Reduction and 2024 Budgetary Plans
In a noteworthy fiscal turnaround, Oman’s public debt has seen a substantial reduction, dropping to 35% of the GDP in 2023 from nearly 70% in 2020. This commendable shift is attributed to the sultanate’s fiscal reforms and a boost from higher-than-expected oil prices. The 2023 debt-to-GDP ratio of 35% reflects Oman’s commitment to responsible financial management, marking a significant improvement from previous years. The unexpected surplus of approximately RO931 million in the 2023 budget underscores the success of proactive measures and prudent fiscal policies. Looking ahead, Oman’s 2024 budget prioritizes stability, debt reduction, and strategic deficit financing to strengthen the nation’s economic resilience further.
Kuwait Takes a Pioneering Leap Towards Power and Water Privatization
Kuwait’s announcement of plans to privatize its power and water assets signifies a pivotal moment in the nation’s quest for improved service delivery and economic efficiency. Backed by a comprehensive feasibility study, this transformational initiative is poised to drastically reduce the government’s annual expenditure on these essential services, which currently exceeds $19 billion in subsidies. By opening the doors to privatization, Kuwait aims to introduce competition, innovation, and private sector investment into its energy sector, thereby enhancing service quality and operational efficiency. While challenges lie ahead, including regulatory complexities and ensuring affordability for the general population, this move reflects Kuwait’s commitment to modernizing its infrastructure and embracing global standards.
The United Nations World Tourism Organization (UNWTO) announced its commitment to sustainable tourism at Annual Investment Meeting
The United Nations World Tourism Organization (UNWTO) has announced their commitment to sustainable growth through the power of government and investment in the tourism industry. In the same context, they hosted a forum at the 12th edition of Annual Investment Meeting that focused on Investing in People – Investing in Planet – Investing in Prosperity’.
Annual Investment Meeting brings to focus the opportunities and challenges of investing in distressed assets and non-performing loans (NPLs)
Investment experts from around the world discussed the opportunities and challenges of investing in distressed assets and non-performing loans (NPLs) at the 12th edition of the The Annual Investment Meeting (AIM), which took place at the Future Room located at the Abu Dhabi National Exhibition Centre.
Evergrande winding-up lawsuit in Hong Kong adjourned to Nov 7
Hong Kong’s High Court approved on Monday an application by China Evergrande Group (3333.HK) and its major offshore credit group to adjourn a winding-up petition against it to Nov. 7.
How the crisis between Russia and Ukraine is having an impact on Americans
The majority of American drivers are affected by high fuel prices, but just a few people bear the brunt of the load.
EXCLUSIVE EU, Gates Foundation to support African medicines agency -source
BRUSSELS, Feb 11 (Reuters) – The European Union and the Gates Foundation are set to announce a package of financial support for the nascent efforts to set up an African medicines regulator in a bid to boost the continent’s drugs and vaccine production, a person familiar with the matter told Reuters. The treaty establishing the […]
ICU – Ukrainian Financial Group Launches the First Ever Mobile Trading Application in the Country
ICU (Investment Capital Ukraine) has become the first Financial Group in Ukraine to introduce a mobile application for trading government bonds in the country. ICU, independent Ukrainian asset management, private equity, and investment banking advisory firm has been working closely with the government to help stimulate the country’s economic growth and development. Globally, most major […]
Russian loans company Arifmetika plans Canada listing in 2022
Russia’s Arifmetika Financial Solutions, which provides small loans to individuals, plans to start trading in Canada in early 2022 and aims to raise about $100 million in the next 12-18 months, the head of its parent company OR Group (ORUP.MM) said.
Nasdaq hits record high as growth stocks rise; inflation data weighs
The Nasdaq index reversed early declines to hit a record high on Tuesday, helped by a rise in growth-linked megacap stocks and as earnings season kicked off on a positive note, while a solid rise in consumer prices in June weighed on sentiment.
