Most rated insurers in the GCC are expected to remain broadly stable in the short-to-medium term, as they have sufficiently robust capital buffers to absorb a potential increase in capital market volatility and any claims related to the war in the Middle East, according to S&P Global Ratings.
The Gulf countries continue to consolidate their position as one of the most influential hubs in global energy markets, (with 32.7% of global oil reserves and 21.2% gas reserves) supported by a broad base of natural resources, advanced infrastructure and accumulated expertise, said a report.
India's Central Board of Secondary Education (CBSE) on Sunday cancelled remaining Class 12 board examinations (scheduled between March 16 and April 10), including papers earlier postponed in several West Asian countries including Bahrain and other GCC countries and Iran amid the ongoing regional conflict.
Global consultancy AtkinsRéalis has announced significant progress in advancing gender diversity across its GCC operations. Women now make up 23% of the workforce, thus marking one of the fastest improvements in women’s representation within the region’s engineering and infrastructure sector.
Iran’s attacks on GCC countries, and the resulting closure of airspace and main shipping route, are unlikely to affect the existing ratings of state-owned companies in the region. This reflects the strong likelihood that the governments will support their key operating companies, according to Fitch Ratings.
DP World has appointed Ahmad Yousef Al-Hassan as Chief Executive Officer and Managing Director for the GCC, overseeing an integrated portfolio spanning ports and terminals, economic zones, digital technology and logistics solutions across the UAE, Saudi Arabia, Oman and markets in the Upper Gulf.
The ongoing Middle East conflict involving US, Israel and Iran has impacted several major landmarks in the region including Burj Al Arab, Palm Jumeirah, Dubai International Airport, Jebel Ali Port in UAE as well as Crowne Plaza, a premium five-star hotel in Bahrain.
India and the six-nation Gulf Cooperation Council (GCC) have signed the Terms of Reference (ToR) for a proposed free trade agreement (FTA), marking a significant step towards formal negotiations, Commerce and Industry Minister Piyush Goyal said in a video message shared on X.
The Gulf Cooperation Council (GCC) and India have launched trade agreement negotiations, marking a new phase in the strategic partnership.
The GCC ranked ninth globally in Gross Domestic Product (GDP) at current prices in 2024, with a total output of approximately $2.3 trillion, confirming its position as an influential economic power at the international level.
