Middle East

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?

From financial services to healthcare to tourism, the Emirates is exploring and expanding into new non-oil businesses.

Sparkling office towers won’t draw business without the right policies.

These are exciting times for the nations of the Gulf Cooperation Council (GCC), as the decline in oil revenues is forcing them to finally make dramatic changes to their oil-based economies.

Noor Bank focuses on select business segments and eyes the digital payment space that will offer some of the best opportunities over the next couple of years.