Banks in Oman and Kuwait stand to benefit from the uptick in oil prices following a three year slump however Oman’s banking sector is more vulnerable than Kuwait and faces a number of risks, according to BMI. Getty Images.
Banks in Oman and Kuwait stand to benefit from the uptick in oil prices following a three year slump however Oman’s banking sector is more vulnerable than Kuwait and faces a number of risks, accordingShow more

S&P cuts Oman's credit rating further on back of rising debt



S&P downgraded Oman’s long-term credit rating further into junk territory on the the back of the sultanate’s rising international debt, but affirmed the outlook for the country as stable.

S&P lowered the country’s credit agency to BB from its previous level of BB+, its second downgrade in six months, as the country continues to look to international markets to service its fiscal deficit, brought on by lower oil revenues.

The downgrade follows similar moves by fellow rating agencies Fitch and Moody’s in June and July respectively, with both downgrading the outlook for Oman to negative.

“We project Oman's external debt will exceed its liquid external assets for the first time next year, with the gap widening to 25 per cent of current account receipts by 2020,” the agency said on Saturday.

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“Following the implementation of [Opec’s] oil production limit quotas, Oman has voluntarily reduced its production by about 30 thousand barrels per day, resulting in lower export revenues and wider current account deficits.”

Oman sold US$5 billion worth of international bonds in March of this year in a bid to cover the shortfall to its budget form lower oil revenues.

Last month the IMF forecast zero per cent growth for Oman's economy for 2017 due to the drop in the country's oil output. Growth is forecast to recover to 3.7 per cent in 2018, the fund said with the budget deficit forecast to fall to 14.3 per cent of GDP from 18.6 per cent this year.

S&P noted that Oman’s economy remains heavily reliant on the hydrocarbons sector in spite of attempts to diversify revenue streams via the development of other sectors including tourism and logistics, and that the country’s monetary policy tools remain limited due to the Omani rial’s peg to the US dollar.

However, the agency kept its outlook for the country unchanged at ‘stable’ on the expectation that the government’s fiscal assets will continue to exceed its debt in the coming two years.

“The ratings are also supported by what we view as potential support from other neighboring Gulf Cooperation Countries, for example in the event of significant deterioration in its external reserves that support the Omani rial's peg to the US dollar.

S&P also noted that Oman had experienced “steady improvement” in human development indicators, stemming both from a combination of high hydrocarbon revenues and progressive policies in previous years.

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Greatest Royal Rumble match listing

50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias

Universal Championship Brock Lesnar (champion) v Roman Reigns in a steel cage match

WWE World Heavyweight ChampionshipAJ Styles (champion) v Shinsuke Nakamura

Intercontinental Championship Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe

United States Championship Jeff Hardy (champion) v Jinder Mahal

SmackDown Tag Team Championship The Bludgeon Brothers (champions) v The Usos

Raw Tag Team Championship (currently vacant) Cesaro and Sheamus v Matt Hardy and Bray Wyatt

Casket match The Undertaker v Rusev

Singles match John Cena v Triple H

Cruiserweight Championship Cedric Alexander v Kalisto

Salah in numbers

€39 million: Liverpool agreed a fee, including add-ons, in the region of 39m (nearly Dh176m) to sign Salah from Roma last year. The exchange rate at the time meant that cost the Reds £34.3m - a bargain given his performances since.

13: The 25-year-old player was not a complete stranger to the Premier League when he arrived at Liverpool this summer. However, during his previous stint at Chelsea, he made just 13 Premier League appearances, seven of which were off the bench, and scored only twice.

57: It was in the 57th minute of his Liverpool bow when Salah opened his account for the Reds in the 3-3 draw with Watford back in August. The Egyptian prodded the ball over the line from close range after latching onto Roberto Firmino's attempted lob.

7: Salah's best scoring streak of the season occurred between an FA Cup tie against West Brom on January 27 and a Premier League win over Newcastle on March 3. He scored for seven games running in all competitions and struck twice against Tottenham.

3: This season Salah became the first player in Premier League history to win the player of the month award three times during a term. He was voted as the division's best player in November, February and March.

40: Salah joined Roger Hunt and Ian Rush as the only players in Liverpool's history to have scored 40 times in a single season when he headed home against Bournemouth at Anfield earlier this month.

30: The goal against Bournemouth ensured the Egyptian achieved another milestone in becoming the first African player to score 30 times across one Premier League campaign.

8: As well as his fine form in England, Salah has also scored eight times in the tournament phase of this season's Champions League. Only Real Madrid's Cristiano Ronaldo, with 15 to his credit, has found the net more often in the group stages and knockout rounds of Europe's premier club competition.

How to improve Arabic reading in early years

One 45-minute class per week in Standard Arabic is not sufficient

The goal should be for grade 1 and 2 students to become fluent readers

Subjects like technology, social studies, science can be taught in later grades

Grade 1 curricula should include oral instruction in Standard Arabic

First graders must regularly practice individual letters and combinations

Time should be slotted in class to read longer passages in early grades

Improve the appearance of textbooks

Revision of curriculum should be undertaken as per research findings

Conjugations of most common verb forms should be taught

Systematic learning of Standard Arabic grammar

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel

Results
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COMPANY%20PROFILE
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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
 
 
 
 
 
 
 
WHAT IS GRAPHENE?

It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were experimenting with sticky tape and graphite, the material used as lead in pencils.

Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But when they repeated the process many times, the flakes got thinner.

By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment led to graphene being isolated for the very first time.

In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. 

THE 12 BREAKAWAY CLUBS

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

MATCH INFO

Karnataka Tuskers 110-5 (10 ovs)

Tharanga 48, Shafiq 34, Rampaul 2-16

Delhi Bulls 91-8 (10 ovs)

Mathews 31, Rimmington 3-28

Karnataka Tuskers win by 19 runs

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Emirates Cricket Board Women’s T10

ECB Hawks v ECB Falcons

Monday, April 6, 7.30pm, Sharjah Cricket Stadium

The match will be broadcast live on the My Sports Eye Facebook page

 

Hawks

Coach: Chaitrali Kalgutkar

Squad: Chaya Mughal (captain), Archara Supriya, Chamani Senevirathne, Chathurika Anand, Geethika Jyothis, Indhuja Nandakumar, Kashish Loungani, Khushi Sharma, Khushi Tanwar, Rinitha Rajith, Siddhi Pagarani, Siya Gokhale, Subha Srinivasan, Suraksha Kotte, Theertha Satish

 

Falcons

Coach: Najeeb Amar

Squad: Kavisha Kumari (captain), Almaseera Jahangir, Annika Shivpuri, Archisha Mukherjee, Judit Cleetus, Ishani Senavirathne, Lavanya Keny, Mahika Gaur, Malavika Unnithan, Rishitha Rajith, Rithika Rajith, Samaira Dharnidharka, Shashini Kaluarachchi, Udeni Kuruppuarachchi, Vaishnave Mahesh

 

 

Seemar’s top six for the Dubai World Cup Carnival:

1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition

The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EElmawkaa%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Hub71%2C%20Abu%20Dhabi%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ebrahem%20Anwar%2C%20Mahmoud%20Habib%20and%20Mohamed%20Thabet%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20PropTech%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%3C%2Fstrong%3E%20%24400%2C000%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3E500%20Startups%2C%20Flat6Labs%20and%20angel%20investors%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2012%3Cbr%3E%3C%2Fp%3E%0A
The specs

  Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

UAE-based players

Goodlands Riders: Jamshaid Butt, Ali Abid, JD Mahesh, Vibhor Shahi, Faizan Asif, Nadeem Rahim

Rose Hill Warriors: Faraz Sheikh, Ashok Kumar, Thabreez Ali, Janaka Chathuranga, Muzammil Afridi, Ameer Hamza

The specs

Engine: 3.0-litre 6-cyl turbo

Power: 435hp at 5,900rpm

Torque: 520Nm at 1,800-5,500rpm

Transmission: 9-speed auto

Price: from Dh498,542

On sale: now

COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Haltia.ai%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%0D%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Arto%20Bendiken%20and%20Talal%20Thabet%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20AI%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2041%0D%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20About%20%241.7%20million%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self%2C%20family%20and%20friends%26nbsp%3B%3C%2Fp%3E%0A
New Zealand squad

Tim Southee (capt), Trent Boult (games 4 and 5), Colin de Grandhomme, Lockie Ferguson (games 1-3), Martin Guptill, Scott Kuggeleijn, Daryl Mitchell, Colin Munro, Jimmy Neesham, Mitchell Santner, Tim Seifert, Ish Sodhi, Ross Taylor, Blair Tickner

Diversions as of October 1

Airports

Istanbul 19
Cairo 10
Ankara 8

Airlines

Qatar Airways 29
Emirates 26
Kuwait Airways 5

 

How to become a Boglehead

Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.

•   Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.

•   Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.

•   Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.

•   Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.

•   Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.

•   Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.

•   Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.

•   Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.

Breast cancer in men: the facts

1) Breast cancer is men is rare but can develop rapidly. It usually occurs in those over the ages of 60, but can occasionally affect younger men.

2) Symptoms can include a lump, discharge, swollen glands or a rash. 

3) People with a history of cancer in the family can be more susceptible. 

4) Treatments include surgery and chemotherapy but early diagnosis is the key. 

5) Anyone concerned is urged to contact their doctor

 

Company%20Profile
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Expert analysis on oil & gas renewables and clean energy

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