Emirates Nbd's Haque on Bond Issuances in GCC

The transcript discusses the recent trends in bond issuances, highlighting the favorable market conditions due to low interest rates and high oil prices. It examines the impact of these issuances on budget deficits and the need for fiscal reforms, particularly in oil-dependent regions like Oman. The conversation shifts to the UAE's economic recovery, emphasizing the challenges faced by the tourism sector due to travel restrictions. Finally, the potential implications of global corporate tax changes on the UAE are explored, considering its status as a tax haven.

What factors are contributing to the current bond market conditions?

• Increasing global interest rates and decreasing oil prices

• Stable global interest rates and fluctuating oil prices

• Low global interest rates and high oil prices

• High global interest rates and low oil prices

Why is Oman focusing on fiscal reforms?

• To reduce its reliance on foreign aid

• To manage its high debt-to-GDP ratio

• To attract more tourists

• To increase its oil production

What is a major challenge for Dubai's economic recovery?

• High inflation rates

• Lack of investment in infrastructure

• Decreasing oil prices

• Travel restrictions affecting tourism

How much did international visitor spending contribute to Dubai's GDP in 2019?

• 10%

• 35%

• 15%

• 25%

What is the potential impact of the G20's corporate tax agreement on the UAE?

• It will lead to a decrease in foreign direct investment

• It will cause a major economic downturn

• It will have little initial impact due to the small number of affected companies

• It will significantly increase the number of multinational companies in the UAE

Why might the UAE be cautious about extending corporate tax to smaller companies?

• To maintain high oil revenues

• To comply with international trade agreements

• To prevent a decrease in foreign direct investment

• To avoid losing its status as a tax haven

What is a key reason for the UAE's economic resilience despite global challenges?

• Its diversified economy

• Its reliance on oil exports

• Its strong tourism sector

• Its low corporate tax rates