Browsing All Posts filed under »Middle East«

Gulf investors look west for bigger returns – ArabianBusiness

May 24, 2011 by

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Middle East investors are looking west for investment opportunities as financial crises in developed markets such as Europe create more value plays, a study released by US-based fund manager Invesco showed. Growth in emerging markets have been strong in the last year but investors are increasingly looking toward markets where investment have been under pressure. […]

$1.6T Projects In Limbo – Zawya

May 19, 2011 by

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Close to $1.6-trillion worth of projects are cancelled or are on hold in the Middle East and East North African market, with $800-billion in the UAE alone, according to Citibank.  The statistics are a reflection of the hangover of the leveraged days in the region when billion dollar projects were announced virtually every other day. […]

The rise and fall of Damas – ArabianBusiness

May 19, 2011 by

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In June 2008, when the family-owned jewellery company Damas International announced it would sell 28 percent of its shares for $1-$1.14 a piece, Dubai was in the midst of its heyday. Property prices had yet to reach their peak, the region was flush with cash and initial public offerings were almost always oversubscribed. The largest […]

Is Dubai Back? – Zawya

May 3, 2011 by

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Dubai’s economy seems to be gaining momentum once again. But is it a temporary bump due to unrest in other parts of the Middle East or is the recovery on sounder footing? And, can Dubai be great again? Dubai’s economy, which was once the envy of its regional rivals, has struggled since the global financial […]

Crude Oil Declines as Saudi Arabia Says Market Is ‘Oversupplied’ – Bloomberg

April 18, 2011 by

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Oil declined for the first time in four days in New York after Saudi Arabia, the world’s biggest exporter, said the global market has adequate crude supplies. Futures slipped as much as 0.5 percent after Saudi Arabia’s Oil Minister Ali al-Naimi said yesterday that the “market is oversupplied.” Crude fell 2.8 percent last week on […]

Leighton’s Dubai unit may need bail-out – SMH

April 18, 2011 by

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Al Habtoor Leighton, an affiliate of Leighton Holdings, may need a cash injection from its parent firm if its ongoing legacy projects are not paid on time, its top executive says. “We have reported to our three shareholders the sensitivities of cash and cash collection. (If) we don’t get paid or something gets delayed then […]

Oil could hit $200-$300 on Saudi unrest, former minister says – ArabianBusiness

April 6, 2011 by

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Oil prices could rocket to $200- $300 a barrel if the world’s top crude exporter Saudi Arabia is hit by serious political unrest, former Saudi oil minister Sheikh Zaki Yamani said on Tuesday. Yamani said he saw no immediate sign of further trouble following protests last month calling for political reforms but said that underlying […]

Oil price rises as stocks gain strength – SMH

March 30, 2011 by

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Oil edged higher for the first time in four days in New York as an advance in US equities signaled the economic recovery will accelerate. Crude gained as much as 0.8 per cent, erasing an earlier drop, as the Standard & Poor’s 500 Index increased and St. Louis Federal Reserve President James Bullard indicated that […]

Qatar plans to spend $125bn in next five years – ArabianBusiness

March 29, 2011 by

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Qatar plans to spend over $125bn in the next five years on construction and energy projects and the OPEC member’s economy should continue powering ahead strongly, its new development strategy showed on Monday. The world’s top liquefied natural gas exporter, which has so far escaped unrest flaring up in the Arab world, is eyeing a […]

High oil prices not a panacea for Gulf economic woes – ArabianBusiness

March 29, 2011 by

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High oil prices will hurt Gulf economies’ prospects of recovering from the global economic downturn, forcing up the cost of imports to the region, Nick Bullman, founder and CEO of London-based consultancy firm CheckRisk said on Monday. Speaking to Arabian Business, Bullman said: “A high oil price is of course good for the Gulf economies, […]