Standard & Poors 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 Councils (GCCs) March 10 announcement of a US$20 billion economic aid support package over ten years, to be shared equally between the two governments.

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

Saudi Arabias King Abdullah unveiled additional financial support measures in mid March estimated to cost SR350 billion (US$93 billion). An estimated SR135 billion (US$36 billion) worth of measures were announced at the end of February.

Qtel has completed its expansion programme for 2011 which has resulted in Qtel Data Centre receiving a major upgrade.