Home
|
Media Center
|
Careers
Personal
Accounts
Loans
eBanking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
Tutorials
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Awards
BBK awarded for distinguished Corporate Governance practices
Bahrain’s pioneer in commercial and retail banking
BBK wins first place for excellence in Corporate Governance practices
BBK wins Bahrain eContent Award
BBK newsletter
CINET
BBK Press releases
Latest News
Archives
Financial News
Latest News
Archives
Internet Banking
Retail login
Help
|
Alert
What do you want to do?
Select here
Access Retail Internet Banking
Home
Media Center
Financial News
Archives
Archives
19-03-20
UAE best-positioned among GCC economies to weather decline in oil prices
(MENAFN) As said in a report, the UAE is top-positioned between GCC economies to face the cut in oil costs as it can finance its recent account shortage longer than any of its regional peers.
The UAE can finance its recent account shortage for 35 years if oil prices stay at USD25 a barrel; Kuwait is in second place and then comes Qatar, Saudi Arabia, Bahrain and Oman, as said by Capital Economics.
According to Jason Tuvey, senior emerging markets economist at Capital Economics, "in the four largest Gulf economies - Saudi Arabia, the UAE, Kuwait and Qatar - current account deficits could be financed through a drawdown of large foreign exchange savings for a considerable amount of time. Saudi Arabia could do so for around a decade and the other three countries for even longer".
The UAE still runs a recent account surplus at USD30 per barrel, as said in the report.
MENAFN1903202000450000ID1099880290
View complete sitemap
Personal
Accounts
Loans
Mortgage
eBanking
ATM
Internet Banking
SMS Banking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
BBK tariffs
Tutorials
Customer Protection
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Follow us