The Middle East rode out the global recession better than the major industrialized economies, and the region is well positioned to benefit from the global recovery. The oil-exporting nations of the Gulf drew on their ample reserves in 2009 to support expansionary fiscal policies. Government spending will continue to increase, even if oil prices decline, with sovereign wealth funds available to finance potential fiscal deficits, says Moody's Investors Service. The Gulf Cooperation Council's fast-growing population of 39 million, with half below the age of 20, means there is a need to create jobs, says Kamal Ahmed of Bahrain's EDB. Kuwait's central bank cut its discount rate a half point to 2.5% in February to encourage banks to lend and help fund development. Meanwhile, new markets are o...
..., in Algeria, Saudi Arabia, Australia, Bahrain, Botswana, Brunei Darussalam, China, Comoros, Kore... Iran (Islamic Republic of), Japan, Jordan, Kuwait, the Libyan Arab Jamahiriya, Morocco, Mauritania, ... National Radio Astronomy Observatory, Green Bank, W. Va. . . . X . X . National Radio Astronom...
The global financial crisis has accelerated what already was a growing interest in Islamic finance and has created new opportunities for Islamic financial institutions as a result of problems in the conventional banking system. Kuwait Finance House, the largest Islamic lender in Kuwait, established Liquidity Management House in January 2008 to issue, purchase and trade sukuk, equivalent to Islamic bonds, with the goal of creating a global secondary market. The recent issuance of sovereign sukuk issues by Bahrain and Indonesia as well as the introduction of new global investment funds show that the market for sukuk is capturing momentum again. European Finance House, the London-based affiliate of Qatar Islamic Bank, announced the launch of its open-ended Global Sukuk Plus fund in May. Th...
... Customer Communications, announced that Bahrain-based Invita - a Business Process Outsource Companny owned by BBK (Bank of Bahrain and Kuwait) - has launched its first On...
The global economic and financial crisis arrived late in the six nations of the Gulf Cooperation Council and appears to be leaving early. Like a powerful sandstorm, it whipped up a lot of dust and left some stunned victims in its wake. But global investors who fled in the second half of 2008 are returning, and liquidity conditions have improved, although credit growth remains subdued. Elias Bikhazi, chief economist at National Bank of Kuwait, the largest Kuwaiti bank, says most of the GCC economies should begin to recover in 2010, following a flat-to-down year in 2009. Financial markets have stabilized, although there is still a long road to travel before trend growth returns for the world economy. Qatar, which plans to link to Bahrain with a $2.7 billion causeway, took some big steps i...
This article focuses on the development of Qatar's unique relationship with Israel, and explains the relationship as just one component of the Emirate's intricate and bold foreign policy. This discussion identifies both the logic behind Qatar's regional policy initiatives as well as the Emirate's ability to adapt to changing regional and international circumstances. As such, this article provides an example of how a small, wealthy state like Qatar can skillfully generate a sophisticated, independent foreign policy agenda that differentiates itself from its larger and influential neighbors, while simultaneously upgrading its international profile and gaining regional prominence.
...Unlike other Gulf states, such as Kuwait, Bahrain, and Saudi Arabia, Qatar is relatively et...The rioting in the West Bank and Gaza provoked both domestic and regional press...
In the dynamic world of emerging market banking, the past year has been an exciting one. Many formerly local banks are reaching across borders with acquisitions and alliances that are transforming them rapidly into regional powerhouses. The banks that really shine in this year's survey are adopting new technology, leapfrogging their competitors and providing their customers with state-of-the-art facilities and services. As always, the winners of this year's emerging market banks awards are not necessarily the biggest or the most visible, but they are those that can best help their clients make the most of the vast opportunities available in the world's diverse emerging markets. Winners include: National Bank of Kuwait; Gulf International Bank, Bahrain; Stanbic Bank Botswana; Commercial ...
... oil boom in the 1920s, wildlife on the east bank of Lake Maracaibo thrived within jungle and marshe...Off the coast of Bahrain, large seagrass pastures supported 2,000-3,500 dug... had spread all the way from Iraqi-occupied Kuwait. As the spill hit, it killed off plankton and alga...
... which the state plays the role of central banker for symbolic religious capital. Consequently, the ... with large Shiite communities like Bahrain, Kuwait, Lebanon and Pakistan, but also from North...
A surge in the issuance of sukuk, or Islamic bonds, and growing demand from global financial institutions and hedge funds for these issues has led to the creation of a viable secondary market. Syndicated sukuk issues of $1 billion or more are no longer rare, but until recently there has been very little trading of sukuk because holders have been reluctant to sell the bonds before maturity. Kuwait Finance House, the leading Islamic lender in Kuwait, is taking a hands-on approach to creating a secondary market in Islamic bonds by forming a separately capitalized firm regulated by the central bank that will advise on, issue and trade sukuk. The merger of Emirates Bank and National Bank of Dubai to form Emirates NBD, a national champion for the United Arab Emirates, will provide a major boo...
...KFH also was instrumental in forming the Bahrain-based Liquidity Management Center in 2005 to recor...
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