Middle East

There are big changes at the top of the rankings this year, and there is greater geographical diversity in the list. Companies in the region are dealing with a number of serious headwinds and broader economic and market changes, which are starting to take their toll. 

The Middle East is characterized by high youth unemployment and political and economic uncertainty, but new business and technology start-ups and young entrepreneurs are providing hope for future generations.

Project financing is booming in Saudi Arabia, which leads the Middle East in deals, with a total of eight in 2015, worth more than $13 billion.

Capital Markets | Equity Offering
A potential partial privatization of Saudi Arabia’s state oil company, Saudi Aramco, would require the company to remove its veil of secrecy.

Saudi Arabia is the Gulf Cooperation Council’s largest economy, but major economic, political and social challenges threaten the kingdom’s immediate economic future. Reducing its dependence on oil and gas is now a case of when, not if.

Kuwait Financial Centre (Markaz) has been among the Arab region’s leading asset management and investment banking institutions since 1974. Speaking with Global Finance, CEO Manaf Alhajeri explains that economically challenging times have a bright side: a chance to find value for long-haul investors.

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?

Developing countries have long sought a greater voice in running the IMF and World Bank. The rise of rival development banks gives them more options—and more leverage.

A selection of winners from Global Finance’s awards program over the past year. 

Arabia is meeting with some success in its efforts to entice foreign investors to six new economic cities in the kingdom.

Global Finance unveils its annual list of the best banks globally, regionally and by country. The winners have provided the best service to clients.

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.