Market Forces

FOCUS: ISLAMIC FINANCE IN ASIA A centralized approach to Islamic finance is helping Asia develop an industry that may challenge the Middle East as the global hub. By Anita Hawser The Middle East is often thought of as the spiritual ...

Emerging Markets: Middle East

Roundup By Gordon Platt Riyadh, future home of the GCC Monetary Council The UAE government announced plans to set up a federal credit bureau to collect information on individuals and corporations. The ministry of finance says the bureau will prepare ...

The Middle East's Rapid Recovery

A Rapid Recovery By Gordon Platt Demographics and hydrocarbons make the Middle East a dynamic region that is rapidly advancing, despite the debt overhang in Dubai. A young and fast-growing population is demanding jobs, and regional governments are responding with ...

Emerging Markets: Middle East

Roundup By Gordon Platt Signs of growth: Baghdad hosts a procession of bankers The International Monetary Fund approved a $3.6 billion loan for Iraq, the largest such loan the country has received. The two-year standby agreement will help Iraq implement ...

Emerging Markets: Middle East

Roundup By Gordon Platt Bahrain’s Salman Industrial City is now open for business Gas-rich Qatar and ExxonMobil signed an agreement in January to build the world’s largest polyethylene plant as part of a $6 billion petrochemical complex in Ras Laffan ...

Cover Story: When Two Worlds Collide

ISLAMIC FINANCING Islamic finance is set to become one of the defining phenomena of the coming decade. Some are concerned, though, that the surge of growth may compromise the strict principles on which it is founded. By Anita Hawser Ted ...

Emerging Markets: Middle East

Roundup By Gordon Platt Dubai International Financial Center: Turmoil casts doubt over future The repercussions from the debt-standstill by investment company Dubai World will be felt for months, if not years, to come. Moody’s Investors Service on December 10 downgraded ...

Features: Country Report: Lebanon

BUCKING THE GLOBAL TREND Lebanon sidestepped the global turmoil and is busy building on its newfound prosperity. By Justin Keay On any morning in downtown Beirut—along the sunny Corniche or in the cafes in the reconstructed Place d’Etoile near Parliament ...

Emerging Markets: Middle East

Roundup By Gordon Platt Topping out: The colossal Burj tower nears completion Economic growth for the Gulf Cooperation Council (GCC) will reach 5.2% next year on the back of rising oil revenues, the International Monetary Fund forecasts. A year ago ...

Emerging Markets: Middle East

Roundup By Gordon Platt Futuristic: Dubai’s new metro should ease traffic congestion Jordan and Iraq signed a free trade agreement in Baghdad on September 3 that will expand already fast-growing trade between the neighboring countries. Jordan’s prime minister Nader Dahabi ...

Emerging Markets: Middle East

Roundup By Gordon Platt Saudi will assemble next generation Eurofighter planes The return of economic confidence in the Gulf Cooperation Council (GCC) countries is evident in the awarding of major new contracts and invitations for bidding on future projects, some ...