With their revenues hard hit by lower oil prices, six Gulf states confirmed earlier this year that they will levy value- added tax from the start of 2018.
The major oil producers have agreed a further reining-in of production in a bid to push the price higher.
The succession issue will arise in more than 20 countries this year, putting the stability of many regions in question reports the risk management group.
Despite some progress in tackling bribery and corruption, many senior managers are failing to set the right tone according to EY.
Plans to lessen the kingdom state’s reliance on oil exports could prove too great a challenge for the government, suggests Fitch Ratings.
The Middle East kingdom, which aims to lessen its dependency on oil revenue, plans to cut billions as part of its aim to achieve a balanced budget by 2020, claims a report.
The AAOIFI, which sets standards for the Islamic finance industry, has adopted Shariah-compliant rules for trading the metal.
GE and the Iraqi government will partner with Standard Chartered and the Trade Bank of Iraq to accelerate power and infrastructure projects.
The lifting of sanctions has seen the country attempt to attract foreign business and investment.
What will Donald Trump’s unexpected victory in the US presidential elections mean for global trade, security and the economy? Risk experts at the business management consultancy Verisk Maplecroft predict what the next four years are likely to bring.