Middle East Investment 2011

Banks pitch new finance tools as Gulf credit dries

DUBAI Banks in the Gulf are pitching new ways of raising funds to meet big infrastructure and refinancing needs of companies whose traditional funding source, bank financing, has dried up.

Egypt Brotherhood businessman: manufacturing is key

CAIRO Manufacturing, a trained labor force and enabling the private sector are the solution to Egypt's economic slump, said Hasan Malek, one of the Muslim Brotherhood's leading businessmen.

Mobinil sees profit again in 2012 if Egypt stable

CAIRO Egyptian mobile phone operator Mobinil expects to return to profit next year if stability returns to the country after a popular uprising this year, its chairman said on Thursday.

Gulf jobs push seen a risk for business

DUBAI Investors fear a big push by Mideast states to boost jobs for citizens, especially in the Gulf which has national quota programs and where higher salaries are demanded, will push up costs for businesses in the region.

Egypt to decide soon on energy subsidy phase-out

CAIRO Egypt is finalizing plans for the removal of energy subsidies for its industrial sector, a phase-out agreed on since 2007, the country's trade and industry minister said on Thursday.


Saudi cement firms face fuel shortages

RIYADH A shortage in subsidized fuel is threatening growth among Saudi cement firms amid rising demand in the top oil-exporter, the chief executive of Southern Province Cement Co (SPCC)said at the Reuters Middle East Investment Summit on Wednesday.

Credit Agricole may issue Islamic bond

DUBAI French lender Credit Agricole is considering either issuing an Islamic bond or creating a wider sukuk program that could lead to several issues, as European banks seek to diversify funding, a senior executive said on Thursday.

Egypt extends ban on rice exports: minister

CAIRO Egypt has extended the ban on rice exports to ensure there is no shortage of supply, Trade Minister Mahmoud Eisa said on Thursday, adding that it was not clear yet when the ban in place since 2008 would be lifted.


Kuwait's KIPCO eyes Turkish market

DUBAI Kuwait Projects Co , the largest investment company in the Gulf state, is eyeing a foray into Turkey's financial services market, its group chief financial officer said on Wednesday.

Bakheet eyes Saudi bourse opening for foreigners in H1 2012

DUBAI Saudi Arabia's Bakheet Investment Group expects the kingdom to fully open its stock market to foreigners in the first half of next year, with banks and petrochemical firms most likely to attract investment, an executive said on Wednesday.

Egyptian Resorts plans Sawari launch in Q2 2012

CAIRO Developer Egyptian Resorts (ERC) plans to launch its delayed Sawari project in the second quarter of 2012, the firm's chief executive officer said on Wednesday.