Besides record oil revenues, Saudi Arabia has made significant developments in its capital markets, especially in its equity markets. By Timothy S Gray.
World
Latest articles from World
Qatar on the rise
August 1, 2005Qatar is raising its profile in the Gulf with another hydrocarbon-fuelled growth spurt. By Will McSheehy.
Oman attracts regional interest
August 1, 2005Consolidation has been the watchword for Omani banks in recent years. With the entry of a new Qatari player, consolidation is helping to internationalise the Muscat financial market, writes Jon Marks, with James Gavin and Eleanor Gillespie.
Broader horizons
August 1, 2005A wind of change is quietly blowing through key sectors of the Kuwaiti economy which is slowly opening up to foreign businesses, writes Jon Marks, with Kevin Godier and James Gavin.
Projects flow
August 1, 2005
Bahrain’s economy has benefited from diversification, and Manama’s status as the Gulf’s premier financial hub is not under imminent threat, write James Gavin and Kevin Godier.
Bahrain’s relative lack of hydrocarbon resources has helped it to become one of the region’s most diversified economies, stimulating a steady flow of project finance and other corporate activities in a range of sectors.
The voice of NBK
August 1, 2005
Ibrahim Dabdoub, chief executive of National Bank of Kuwait discusses the biggest challenges ahead for the gulf banking sector:
Globalisation, liberalisation and technology pose the biggest challenges for Gulf banks, which will have to compete with large, financially strong, global banks with a broad product offering, high-quality personnel and a greater capacity to absorb risk. International players are also technologically sophisticated and enjoy efficiencies of scale.
Major progress
August 1, 2005The Gulf Cooperation Council states and their banks may be small but they are enjoying huge growth with great prospects. Stephen Timewell reports.
Building blocks for leadership
August 1, 2005
Vneshtorgbank is using its acquisition of Guta Bank to build up its retail services, planning more branches and aiming for a leading role in the mortgage market. By Brian Caplen.
Russian state-owned Vneshtorgbank is pushing ahead on the retail front, aiming to claim an 8%-10% share of the market by 2010. During that period, total assets are expected to rise from $15bn to $35bn, including a forecast rise in mortgages from $150m to $2bn and in consumer lending from $300m to $3bn.
Banks upbeat on Iran’s surprise election result
August 1, 2005Initial reticence about the election of Iran’s new hard-line president, Mahmoud Ahmadi-Nejad, has turned to optimism in the financial sector. Gareth Smyth and Najmeh Bozorgmehr report from Tehran.
Homemade help is Africa’s best hope
August 1, 2005While some believe the G8 summit in Scotland was a missed opportunity,James Eedes reports that solutions originating in Africa promise to have themost lasting and meaningful impact.