The country’s dominant bank sees future growth coming from the small-business market and from regional customers.
Riding a wave of government spending, Kuwait’s financial institutions are thriving despite the drop in petroleum revenues—for now.
The prospect of the lifting of economic sanctions against Iran has investors excited about the return of this market to the global economic community. But the message is: Proceed with caution.
Nations slash subsidies in the face of cheap oil and regional conflicts.
Capital Markets | Banking Licenses
Saudi Arabia cracked open the door to direct investments in its stock market by qualified foreign institutions in June, when HSBC became the first foreign firm to receive a license.
Sovereign wealth funds have expanded dramatically in recent years. High commodity prices and large foreign exchange reserves have contributed to their significant growth in global markets.
Some green shoots lurk beneath the region’s raging civil wars, economic woes and political unrest.
Saudi Arabia needs a strategy to diversify its oil-based economy. Can change come fast enough?
Arabia is meeting with some success in its efforts to entice foreign investors to six new economic cities in the kingdom.
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.
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.