Although the recent dip in oil prices is undoubtedly a concern for Kuwait’s economy should prices remain depressed, the successive budget surpluses of recent years and the country’s low breakeven price on oil production mean the country is strongly placed to cope with lower prices without increasing production. Meanwhile, the government remains committed to maintaining capital expenditures and...
Economy
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Chapter | Country Profile from The Report: Kuwait 2015
As a major oil producer and key member of OPEC and the GCC, Kuwait faces a long-term challenge in the recent fall in oil prices, which have added new impetus to its drive for economic diversification. An expanding private sector and ongoing government support for a range of infrastructure projects should, however, ensure continued growth moving forward as new developments are set in motion to...
Economic update | Mongolia eyes rural growth
29 Sep 2015
Mongolia’s remote regions are beginning to feel the benefits of public and private initiatives aimed at attracting investment and promoting rural development in a bid to tackle rising levels of urbanisation and imbalances in regional wealth.
Articles & Analysis | Islam’s holiest mosque is being expanded to accommodate an increasing number of pilgrims to Makkah in Saudi Arabia from The Report: Saudi Arabia 2015
Pilgrimage forms one of the five pillars of the Islamic faith, and performing the Hajj at least once is mandatory for all Muslims who are physically and financially able to do so. The Hajj, however, can only be performed once a year over a specific five-day period. With an estimated 1.6bn Muslims in the world, catering for this requirement...
Articles & Analysis | Saudi Arabia's Makkah has plans to expand its water, wastewater and sewerage networks from The Report: Saudi Arabia 2015
In common with other cities in the Kingdom, Makkah’s growing population and location have placed a strain on the management of its water resources. The city’s rapid urban development, not to mention the regeneration of existing urban areas, is also necessitating a substantial programme of investment to expand and upgrade wastewater and...
Makkah’s Grand Mosque, which contains the Kaaba, is the holiest site in Islam and a place of pilgrimage for millions of Muslims worldwide. As pilgrim numbers continue to rise, the region’s hospitality and infrastructure services are witnessing significant expansion. Makkah currently has a total of 107,000 hotel rooms, with the wider Makkah region accounting for two-thirds of the Kingdom’s...