Middle East

Military and economic tensions between China and India are on the rise.

Economic reforms are hampered by worries they might undo the tacit cradle-to-grave social compact between the monarchy and Saudi citizens that provides a safety net in return for political stability. 

The MENA region is rapidly minting millionaires, but the Covid pandemic and a generational shift in ownership of wealth promise changes in how it’s invested and in what.  

Digitization is remaking Islamic finance, helping banks match the demands of younger consumers and even expand banking in war-torn Yemen.

Regional powerhouse Arab Bank reaches its 90-year milestone this year. Nemeh Sabbagh, CEO, talks to Global Finance about current challenges and opportunities.

Already facing low oil prices and weak credit demand, Middle Eastern banks now must gird themselves for the impact of Covid-19.

The impact of COVID-19 and the 50% drop in oil prices since the pandemic struck will challenge all of the economies in the Middle East region. Travel restrictions and a simultaneous drop in domestic and external demand are hitting the region hard. There are bright spots, nonetheless, and reasons to expect this part of the world to remain resilient, with help from strong foreign exchange reserves in the big oil-producing countries.

Dubai and the UAE hope the Middle East’s first world expo will provide a much-needed jolt to the local economy.  

Jean Riachi, founder and CEO of FFA Private Bank talks to Global Finance about the current state of the Lebanese banking industry.

Rising gas output is giving Qatar’s economy some buoyancy.

A close-up look at how Lebanon and its banks reached the edge of the cliff—and the tough choices they need to make to step back from the brink.

Ahli United Bank’s CEO and managing director, Adel El-Labban, talks with Global Finance about operating in high-risk environments and his bank’s pending merger with Kuwait Finance House.

A new IMF funding package and anticipated economic reforms offer a ray of hope for the kingdom’s battered economy.  

Oil prices, travel and tourism are vulnerable to the effects of the coronavirus.  

A sluggish economy, high debt burden and tensions among its neighbors challenge the new leader’s ambitious development plans.  

The last of the big three public cloud-service providers has reached Qatar, bringing coverage to the entire Middle East region.  

MENA startups are now a magnet for new funding. 

In a region bedeviled by war, corruption, money laundering and terrorism, banks are finally investing in financial-crime compliance.  

Egypt’s expanding economy and population are bolstering an ambitious drive to create a more aggressive, investor-friendly economy.

Under dramatic new conditions, business is rapidly adapting, with unpredictable long-term effects.