#S&P

Oman

Oman lifted from junk status by S&P amid reforms

The upgrade reflects Oman’s commitment to deleveraging its balance sheet and advancing its structural reform agenda

Saudi Arabia’s PIF swings to $36.8bn profit in 2023

S&P revises Saudi Arabia’s outlook to positive on strong non-oil economy

The ratings agency said the positive outlook reflects Saudi Arabia’s potential to bring in more reforms and investments

Oman puts 103 countries on visa-free list Image Getty Images

Oman’s fiscal future brightens as S&P boosts outlook to positive

The ratings agency expects Oman’s real GDP to expand by about 2 per cent per year on average during the 2024-2027 period

UAE

UAE business tax will help support smaller emirates’ economies, S&P says

The country plans to levy a 9 per cent corporate tax from June 2023

Dubai tourism

Dubai’s tourism sector won’t rebound until late 2022, S&P says

The city is hosting the World Expo 2020 this year, and it hopes to attract millions of tourists

Oman’s first S&P upgrade in over a decade may be on the cards

Oman’s fiscal deficit may narrow to 4.2 per cent of gross domestic product in 2021

Kuwait credit rating cut for second time in two years by S&P

The sovereign credit rating was cut one level to A+ from AA-