Low oil prices are forcing the country to build up other sectors—most notably healthcare—to shore up its ability to weather economic storms.
Michel Accad, who took over as CEO at Al Ahli Bank Kuwait in May 2014, talks to Global Finance about why the Kuwait banking system remains solid despite falling oil prices and other pressures.
Interview with Sulaiman Al-Marzouq, head of treasury at National Bank of Kuwait, about changes in Gulf economies and NBK’s role in development.
Israel's economy depends on foreign trade, and that presents a challenge under current conditions. Policymakers remain focused on high-tech while keeping an eye on global political developments.
Oil-rich Qatar is spending heavily on infrastructure, even as it goes deeper into debt, claiming the massive spending is aimed at creating a knowledge-based economy.
Qatar plans to spend more than $200 billion on infrastructure projects, including roads, bridges, railways, and ports, and has loosened guest worker sponsor requirements to facilitate recruitment.
The Egyptian pound was floated this fall, and quickly lost half its value. But the reform is part of restructuring Egypt's economy to encourage foreign investment.
After two years of a political vacuum, Lebanon finally elected Michel Aoun president. Under the constitution, however, the head of state has little power, and his election sparks little hope.
Qatar has begun construction of a new financial city which aims to be the country’s Wall Street or Canary Wharf.
Saudi Arabia’s Public Investment Fund (PIF) has joined with Japan's SoftBank Group to launch what could become a $100 billion fund to focus on technology investments.
Abu Dhabi’s Al Hilal Bank is the safest Islamic bank in the six GCC states, replacing Al Rajhi Bank of Saudi Arabia, which falls to seventh position following downgrades prompted by the downgrading of the Saudi government. Kuwait Finance House ...
After several years of inactivity, the Gulf Cooperation Council (GCC) could see a spate of M&A deals in financial services.
With mounting payment obligations and a worsening balance of payments, Pakistan has returned to the Islamic bond market after a two-year hiatus. In early October, Pakistan mopped up $1 billion through a dollar-denominated Islamic bond with a five-year tenure.
According to a recent IMF, World Bank and Arab Monetary Fund report, 40% of Arab banks are experiencing “a significant decline” in the scale of correspondent banking relationships. The report shows 167 terminated accounts in 2015 compared to 71 in ...
The safest banks in the Middle East are all based in the GCC, with the exception of the two large Israeli banks, Hapoalim and Leumi, which rank 26th and 27th. National Bank of Abu Dhabi remains the Safest Bank in ...
Syria’s agony is imposing serious costs for neighbors in terms of refugees, lost trade and dampened investment.
Beirut aims to become the number-one hub in the Middle East for young entrepreneurs, so the Lebanese Central Bank recently added $200 million its 2013 promise to guarantee $400 million in investment in the knowledge economy.
Egypt | Its IMF loan could ease investor concerns and end its foreign exchange shortage.
Can the Saudis’ $2 trillion Public Investment Fund transition the kingdom to a post-oil economy?
Striving to shake its oil dependence, Kuwait is opening up to foreign ownership. Will investors bite?