ABU DHABI / WAM Standard & Poor’s (S&P) has revised its long-term outlook on Jordan’s economy while at the same time allocating a BB-/B rating on the kingdom’s long- and short-term foreign and local currency sovereign credit ratings. “We have revised downward our economic growth projections and now expect wide current account deficit,” the rating services agency said in …

  DUBAI / Reuters State-run Saudi Electricity Co (SEC), the Gulf’s largest utility firm, reported a narrowing first-quarter net loss as higher tariffs boosted its operating income. The company, which the government aims to split into several components this year to improve efficiency, made a loss of 1.37 billion riyals ($365.32 million) in the three months to March 31, according …

  KHOBAR / Reuters Saudi Arabia’s National Industrialization Co’s chief executive expects to see the benefits of a restructuring soon and has a more positive outlook for the chemicals market. Like many Saudi petrochemical firms, Tasnee’s earnings have suffered as its product prices are closely tied to oil prices, which have slumped since mid-2014. To combat poor market conditions, Tasnee …