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Trade winds blow Gulf investment to India
The trade winds of the Indian Ocean helped sailors move goods from the subcontinent to the Gulf and Africa. Despite strong commercial and labour links, there has been an historic mismatch in the amount...
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[Bric Food File] Gulf states look to secure their future overseas
By Andrew Whiffin and Andrew England The import-dependent Gulf states were left facing a troubling question when a food crisis sent the prices of staples such as rice and wheat soaring two years ago:...
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Nawras IPO: a bad omen for the Gulf?
After a quiet year for initial public offerings in the Gulf, many have hoped that a share sale by Nawras, a successful Omani telecoms company, might open the door for other companies to follow, but it...
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Islamic banking: gaining traction in ME
The Middle East may be the heart of Islam and its investors may have plenty of liquidity, but the region’s Islamic banking sector remains relatively immature and undeveloped compared to markets in...
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Gulf petrodollars stay home for once
By Camilla Hall in Abu Dhabi For years, petrodollars burnt holes in Gulf states’ pockets. What could not be spent at home, went straight into investments abroad. Buying US treasuries, London palaces...
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Oman: powering up the IPO market
Oman’s SMN Power Holding, the Gulf country’s biggest power company has sprung a surprise with an announcement that it’s selling $64m of shares despite the general gloom in the markets and a dearth of...
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Arab spring in London property
The Arab spring has turned into a ka-ching [£££] for London’s new-build residential property market, according to real estate consultants Jones Lang LaSalle. The value of Middle East investment in...
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Budget airlines: criss-crossing the Gulf
A Gulf-based budget airline might sound like a contradiction in terms. But as Camilla Hall reports, Flydubai is one of several carriers rapidly making low-cost travel a reality in the region. It may...
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HSBC: back to basics in Oman
HSBC is hoping to extend its red and white tentacles across Oman, the oil-rich Gulf state, after it agreed to merge its local unit with publicly-traded Oman International Bank. HSBC plans to take a 51...
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Saudi Arabia: still worried about youth employment
Halwani Bros, a Saudi food producer, seems to think it has a recipe for labour market transformation – beyond the dense, sesame halawa dessert, for which it is famous. The 60-year-old, Riyadh-listed...
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IFC in the Middle East: short of partners
“Don’t forget, revolutions are expensive”, says Dimitris Tsitsiragos. He should know: his responsibilities as a vice president at the International Finance Corporation include north Africa and the...
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New Islamic banks in Oman are bolstering their balance sheets to challenge the country’s larger conventional lenders after the sultanate allowed sharia-compliant lending for the first time last year....
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Distressed debt in the Gulf – only for the risk-hungry
Distressed debt players who took a bet on bonds issued by Blue City of Oman should be cheered by a chance to get out. The Gulf country’s sovereign wealth fund has offered to buy “class B” subordinated...
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Oman gets tough with striking teachers in revival of unrest
March 2011 A three-week teachers’ strike in Oman suggests that the genie of unrest is out of the bottle in this unassuming corner of the oil-rich Gulf. The strike has affected up to three quarters of...
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Arab youth turn from “Arab spring” to starting businesses
Young Arabs are increasingly turning their backs on cushy public sector jobs in favour of working for private companies and starting their own businesses, a survey in 16 countries has found. There has...
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Oman: Iran’s best friend in the Gulf
The sultanate of Oman appears set to play a key role in Iran’s efforts to reintegrate into the regional and global economy. While other Middle Eastern states kept their distance during Iran’s years of...
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