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GCC-based countries are drawing down their foreign exchange reserves to protect their dollar pegs and tapping global debt markets for record amounts, along with corporates.
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M.R Raghu, said that although the GCC construction market continued to remain buoyant, with projects worth $17.5bn announced in February 2020 alone, the supply of materials was bound to face constraints.
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The IMF predicted last week that coronavirus would likely cause the greatest global recession in nearly a century...
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The Middle East is facing a long and “ugly” recession as the coronavirus pandemic stifles economic activity, experts said.
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The evolution of Kuwait's capital markets has illustrated the country's economic transformation of the past 10 years.
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Economic optimism across the six countries of the Gulf Co-operation Council (GCC) is in short supply going into the second quarter of 2020.
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Organizers of Expo 2020, a multi-billion-dollar world trade fair originally scheduled to open in Dubai in October, on Monday recommended a one-year postponement due to the coronavirus pandemic.
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