Saudi Arabia needs a strategy to diversify its oil-based economy. Can change come fast enough?
Global Finance’s annual evaluation of the work of the world’s central bankers found some stellar performances, and some dismal ones. The toughest challenge for many: propping up falling prices.
Global Finance unveils its annual list of the best banks globally, regionally and by country. The winners have provided the best service to clients.
Arabia is meeting with some success in its efforts to entice foreign investors to six new economic cities in the kingdom.
With the country’s oil revenue set to slide by about 30% this year, privatization is a largely untapped resource.
Eni, the Italian energy company that was unsuccessful in finding exploitable hydrocarbons in Cyprus, now has a major find on its hands elsewhere.
“An economic windfall.” That’s how the World Bank’s chief economist for the Middle East and North Africa, Shantayanan Devarajan, characterized the boost to the Iranian economy from the lifting of sanctions in the wake of the nuclear deal struck with the permanent members of the UN Security Council.
At a lavish ceremony last month, the Egyptian government inaugurated the new Suez Canal, marking an expansion of the original project, which dates to 1869.
Isaac Thomas, executive vice president and head of cash management, Abu Dhabi Commercial Bank, describes the region’s changes and challenges.
Capital Markets | Fixed Income
Saudi Arabia has issued its first sovereign bonds since 2007 to help fund a widening budget deficit caused by continued spending amid low oil prices.
Regional wealth funds, free-trade zones and the Saudi Stock Exchange are expected to boost GCC economic growth and spur development—even if oil doesn’t cooperate.
GCC Regional Report 2015 | Trade
GCC With oil prices not expected to top $100 a barrel anytime soon, breaking down trade barriers is the one sure way to boost the GCC’s economic prospects.
GCC Regional Report 2015 | Oil Prices
GCC countries are weathering low oil prices surprisingly well, cushioned by sovereign funds, economic diversification and development.
GCC Regional Report 2015 | Special Economic Zones
Special economic zones are allowing GCC countries to diversify their economies away from oil and provide jobs to their citizenry.
Q&A with Moataz Natafji, general manager, BLOM Development Bank, the Islamic subsidiary of BLOM Bank, Beirut, Lebanon
Saudi Arabia | When the Saudi Arabian stock market, or the Tadawul as it is known, opens to direct investment by qualified foreign institutions for the first time on June 15, it will begin a transformation of the biggest bourse in the Middle East.
Newsmakers | Israel
Israeli prime minister Benjamin Netanyahu’s success among center-right political parties, which saw him recently elected for a fourth term, may have provided a stable political platform, but international pressure and recent social unrest could see the country change economic direction.