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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

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TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Saudi, UAE report highest levels of gross debt

By TRENDS Desk
January 10, 2024 6:13 pm
  • Developing countries spent a record $443.5 billion to service their external public and publicly guaranteed debt in 2022, the World Bank said recently.
  • The increase in costs shifted scarce resources away from critical needs such as health, education, and the environment.

Dubai, UAE — The World Bank recently said that amid the biggest surge in global interest rates in four decades, developing countries spent a record $443.5 billion to service their external public and publicly guaranteed debt in 2022.

The increase in costs shifted scarce resources away from critical needs such as health, education, and the environment. Saudi Arabia and the UAE, the biggest economies in the Arab world, reported the highest levels of gross debt in the region.

TRENDS takes a look at debt situation in some of the Arab countries vis-a-vis the global rankings:

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