Middle East Investment


Ghosts of Dubai World's past may return to haunt emirate

DUBAI Dubai World , the state-linked entity whose massive debts brought the emirate to the brink of collapse in 2009, faces the first repayment in its restructuring deal in three years time and creditors are once again growing restless.

Jordan subsidy cuts to spur aid, growth: minister

AMMAN Jordan's controversial fuel price hikes last week, which sent thousands of protestors onto the streets, have been painful but clear the way for the economy to grow and attract foreign aid, a minister responsible for economic policy said on Wednesday.


Gulf's private sector boom still vulnerable

ABU DHABI Four years after a collapse of oil prices savaged Gulf Arab economies, private business activity in most of the region is thriving again. Yet problems with financing and regulation could cut short the boom.

Dubai's Mashreq has met tougher cbank lending rules

DUBAI Mashreq , Dubai's second-biggest bank by stock market value, said it has met the tougher lending rules imposed by the central bank to tighten up the financial system after the Emirates debt crisis.

Gulf investors shrug off Iran risk

DUBAI Gulf investors are far less nervous about the possibility of a U.S. or Israeli strike against Iran after the re-election of U.S. President Barack Obama, paving the way for further stock market gains in the world's top oil producing region.

Kuwait's Boubyan Bank sees Islamic banking boom

KUWAIT Islamic banking is growing at more than double the pace of conventional banking in Kuwait and strong demand is expected throughout the Arab region, the chairman of Boubyan Bank said on Wednesday.


Tunisia PM seeks Western funds "before it's too late"

TUNIS Tunisia's transition to democracy has run into political and economic obstacles and the West must provide more financial backing "before it's too late", Prime Minister Hamadi Jebali said on Tuesday.


Boeing targets doubling of Middle East defense sales

DUBAI Boeing expects to double revenue from its defense and security business in the Middle East over the next two years as recent turmoil in the region drives up demand for arms.

Bank of Khartoum's Gulf owners bet on Sudan growth

KHARTOUM Bank of Khartoum, Sudan's oldest bank, plans to more than triple its capital as its Gulf investors fund an expansion in the resource-rich country, betting that peace with South Sudan will hold, its general manager said on Tuesday.

Saudi petchems firms fear new year gas price rise

RIYADH Some Saudi petrochemical producers fear a possible rise in the price they pay for gas will impact profits starting early next year, Saudi Industrial Investment Group (SIIG) managing director Suliman al-Mandeel told Reuters on Tuesday.

Lebanon banks can absorb Syria damage: Blom

BEIRUT Syria's civil war has shrunk the operations of Lebanese bank affiliates operating there, but the parent banks are coping with the damage thanks to careful provisioning, a senior Lebanese banker said.