Saudi Arabia Projects $35 bn Budget Deficit for 2019

The Saudi government is projecting a budget deficit of $35bn in 2019, almost unchanged from the estimated actual outcome for 2018. The ABA's Editor reviews the main points of the budget, and provides some statistics. 

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Financial consolidation continues in Abu Dhabi with three-way merger

Abu Dhabi Commercial Bank, Union National Bank and Al-Hilal Bank, all controlled by Abu Dhabi government agencies, will merge. Though driven by Abu Dhabi-specific factors, it forms part of a wider trend in the GCC

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