Middle East

SEEKING MORE-INCLUSIVE GROWTH   By Gordon Platt   After strong economic growth in 2011, the six nations of the Gulf Cooperation Council are spreading the wealth by putting a priority on non-oil job creation and social welfare.   Photo Credit ...

KUWAIT ORDERED TO PAY DOW CHEMICAL $2.16 BILLION   By Gordon Platt   Kuwait's state-run chemical company must pay the US's Dow Chemical $2.16 billion for wrongfully canceling a planned joint venture in December 2008, as the global economy was ...

NEW SHOPPING LIST   By Justin Keay   GCC sovereign wealth funds and banks are still selectively buying low-value assets in Europe, but higher-growth markets are increasingly on their radar.   When the global financial crisis first hit back in ...

THE POWER OF ONE   By Gordon Platt   Thirty-one years have passed since the six Arab oil-producing countries of the Gulf formed an economic and strategic alliance, following the outbreak of the Iran-Iraq war.   Known as the Gulf ...

OMAN: CRAFTING A NEW FUTURE   By Gordon Platt   Keenly aware that its vital oil resources are dwindling, Oman has embarked on a major economic diversification program.   Oman's economy has grown steadily in recent years, helped by rising ...

MILESTONES: MIDDLE EAST / US   By Anita Hawser   The ability of US bankruptcy law to handle shariah-compliant structures is being tested after Bahraini firm Arcapita Bank’s decision in March to file for bankruptcy protection in the US.   Business ...

NEW GRAVITATIONAL PULL   By Ryan Harrison   As companies in the region expand globally, their treasury and trade processes are growing in sophistication. As a result, transaction banking is becoming an ever-more-important business driver for both regional and global ...

By Thomas Clouse, Jonathan Gregson, Antonio Guerrero & Gordon Platt MIDDLE EAST The oil-exporting countries of the Middle East are enjoying strong economic growth, whereas countries that experienced political uprisings during the Arab Spring of 2011 are struggling to get back ...

CHANGE IS IN THE AIR   As one drives into Riyadh, the Saudi Arabian capital, on King Khalid International Airport Road, a symbol of change appears suddenly through the window after miles of desert. It is the enormous campus of ...

ABUNDANT FLOWS   By Gordon Platt   The oil and gas sector is leading an investment explosion in the region, particularly in Saudi Arabia and Qatar.   Photo Credit: PAUL COWAN / SHUTTERSTOCK.COM Led by Saudi Arabia and Qatar, the ...

THE LEVANT BANKS ON STABILITY   By Gordon Platt   Caution and conservative growth are the key goals of Levantine economies.   The resource-poor countries of the Levant have been trying to promote open markets, free trade and labor mobility ...

EASING THE BURDEN   By Gordon Platt   Dubai has some way to go before its debt profile is viewed as safe and sound, but it has already made great strides.   The Dubai debt crisis shocked the world in ...

TOUGH TIMES AHEAD FOR YEMEN’S NEW PRESIDENT   By Gordon Platt   Yemen's new president Abdrabbuh Mansur Hadi, the former vice president, won a one-man election to a two-year term.   A head for heights: Dubai’s Burj Khalifa Photo Credit: RAHHAL/ ...

SHIFTING SANDS   By Gordon Platt   Extraordinary changes are occurring in the Middle East in the aftermath of the Arab Spring uprisings. New economic models—and new opportunities for foreign investors—are developing. But the potential for great reward comes with ...

FAITH IN THE DOLLAR PEG   By Gordon Platt   Global Finance sits down with Qatar’s central bank governor, sheikh Abdullah Bin Saud Al-Thani. The pegged-exchange-rate regime is working well, according to Al-Thani, and the resilient financial sector will help ...

Global Finance names the World’s Best Emerging Market Banks 2012 in the Middle East NEW YORK, March 20, 2012 — Global Finance magazine has named the “Best Emerging Market Banks in the Middle East” in an exclusive survey to be ...

Global Finance Announces the Best Banks by Region 2012 NEW YORK, March 20, 2012 – Global Finance magazine has announced its annual awards for the World's Best Banks in Developed and Emerging Markets. The list of regional winners is on ...

CLOUDY OUTLOOK   By Gordon Platt   The global economic slowdown and regional political turmoil are casting a pall over investment banking in the Middle East. As there's no change in sight, bankers in the region may be in for ...

SAUDI ARABIAN BOURSE ALLOWS FOREIGN CROSS-LISTINGS   By Gordon Platt   The Saudi Arabian stock exchange, known as the Tadawul, has taken a major step toward becoming a regional exchange.   Islamic bloc wins control in Kuwaiti parliament The Capital ...

Global Finance names the Safest Banks in the Middle East: April 2012 NEW YORK, March 1, 2012 — Global Finance magazine ( GFmag.com ) has named the top 10 “Safest Banks in the Middle East: April 2012” in an exclusive ...