The profitability of asset managers in most Gulf Cooperation Council (GCC) countries will face moderate to high pressure over the next 12-18 months, reflecting the coronavirus crisis and an accompanying drop in oil prices, according to Moody’s Investors Service report
Industry
Fitch lowers Bahrain’s rating due to lower oil prices and COVID-19 impact
Fitch Ratings has downgraded Bahrains long term foreign currency issuer default rating (IDR) to B+ from BB-, reflecting the double impact of lower oil prices and the COVID-19 on the country
UAE ranks first among GCC countries in oil diversification efforts, says UBS
The UAE ranks first among GCC countries in oil diversification efforts as it gears up for the post COVID-19 era, according to a report by UBS
Tendeka partners with TGT to combat sand control failure in wells
Tendeka has partnered with TGT to mitigate and combat the costly consequences of sand control failure in wells
LOC announces strong adoption of remote DP inspection service
LOC, global marine and engineering consulting firm, has announced successful rollout of its remote dynamic positioning (DP) inspection service, since its launch in early June
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