As both the banking sector and competition grow, Kuwait’s major banks are developing their individual strategies. Stephen Timewell reports.
In the Gulf financial centres race, Kuwait is starting at the back of the field and has yet to find its role.
Despite the enormous riches stemming from $70-a-barrel oil, strong growth and good prospects across all sectors, the jury’s out on whether Kuwait’s leadership has the political will to achieve its potential. Stephen Timewell explains.
Paul Melly in Doha reports on Goldman Sachs’ decision to set up in the Qatar Financial Centre, a purpose-built entity with its own regulatory regime as well as employment and immigration laws, entirely independent of the rest of the country.
Although there has been considerable international focus on Qatar’s project finance boom, local banks are concentrating on an unprecedented retail boom, write Paul Melly and Eleanor Gillespie.
David Lipkin reviews Stanley Fischer’s turbulent first year as governor of the Bank of Israel, and asks him about the future of the bank and the economy.
Morgan Stanley’s managing director in the UAE, Georges Makhoul, tells Richard Dean how the bank has thrived since it opened for business in Dubai last year.
A sharp correction in UAE stock markets is unlikely to deal a fatal blow to Dubai’s ambitions as a financial centre.
UAE banks should see earnings rise in 2006 but the gravy train of triple-digit profit growth built on absurdly oversubscribed flotations appears to be ending. Richard Dean reports from Dubai.
Farhan Bokhari reports on the push for the expansion of shariah-compliant Arab Islamic money outside the Middle Eastern region.
After a rocky start, the Dubai International Financial Centre appears to have reached critical mass.
Boom time in the Middle East does not translate into an easy ride for fund managers, says Nick Kochan.
The Middle East private equity industry doubled in size in 2005, as more Gulf investors woke up to the potential for 25% annual returns.
A new generation of mega-projects is creating huge opportunities for local and ‘suitcase’ bankers, writes Jon Marks in Riyadh.
More confident Lebanese banks have been moving into regional markets, helping to win another ratings upgrade, write Jon Marks and Eleanor Gillespie.
The recent drop in Gulf stock prices gave everyone a shock. But, as Stephen Timewell reports, it appears to have been the correction of a maturing market and not the precursor to a regional slump.
Stock market turbulence should not detract fromthe huge strides being made by the wider Saudi economy, writes Jon Marks in Riyadh.
Lebanon’s top two banks have boosted profits and set their sights on regional and global expansion, despite political turmoil at home. Stephen Timewell reports.
With the introduction of project finance instruments to complement more familiar short-term trade finance and consumer lending, Islamic banking has found a sound but innovative home in Bahrain. Jon Marks and Ian Lewis report.
Competition to draw international banks into the Gulf region is stronger than ever but Bahrain is confident that it can retain its leading edge, write Jon Marks and Ian Lewis.