Business & Management

SESCO sees an upturn in the market in 2011

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Saudi Electric Supply Company (SESCO) is looking to strengthen its presence in the GCC and the company’s general manager believes markets in the region will see an upturn this year.

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Jordan revises its 2011 budget plan

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Jordan revised its 2011 budget which saw state spending increase to US$8.9 billion to cover higher welfare costs.

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Saudi Arabia to spend US$155 billion in 2011

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Saudi Arabia plans to spend US$154.7 billion in 2011 on infrastructure and education to spur growth in the country's economy.

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GCC aid is unlikely to immediately affect ratings on Bahrain and Oman

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Standard & Poor's Ratings Services said that ongoing political tensions in the Kingdom of Bahrain (BBB/Watch Neg/A-3) and Sultanate of Oman (A/Watch Neg/A-1) remain a significant issue for the credit standing of both sovereigns. This is despite the Gulf Cooperation Council's (GCC's) March 10 announcement of a US$20 billion economic aid support package over ten years, to be shared equally between the two governments.

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Dubai's 2011 deficit cut to US$1 billion

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Dubai's government approved a 2011 budget that sees the budget deficit cut to US$1 billion due to the authorities continuing to cut spending.

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