In recent years, Ras Al Khaimah’s financial services sector has posted robust growth, driven by a rising population and new infrastructure projects. The industry has expanded beyond the emirate and of the four largest players – the National Bank of RAK (RAKBANK), Commercial Bank International (CBI), RAK Insurance and United Insurance Company (...
Although the government of Ras Al Khaimah is not known for frequent bond issuance, it returned to the debt markets in 2015 with the deployment of a $500m sovereign sukuk (Islamic bond). Bonds, both Islamic and conventional, have been increasingly utilised by public and semi-privatised entities in the emirate recently, and despite...
The push among GCC states to invest in Africa came about in earnest following the 2007-08 global food price crisis, and targeted agricultural land and strategic commodity production. Agribusiness, sovereign wealth funds and other agri-investment vehicles were the main players. Primarily state-led, the investments at that time centred on...
Australia’s links with the Gulf states are close and getting closer. Australians and citizens of Gulf states are spending more and more time in each other’s countries, the security relationship is growing and business relationships are booming.
Following a difficult period for the international shipping market, in 2012 the container route from Shanghai to the Gulf through Dubai saw the second-highest rate of freight growth in the entire Asian region. This was part of an emerging trend of the maturation of GCC-Asia trade. A relationship that was once just based on energy demand is...
Ras Al Khaimah holds a unique position among the seven emirates that make up the UAE. It has a rich and long history that revolves around trade, with its exports mainly driven by copper and pearl in the past. Making the most of its vast reserves of clay, limestone and sand found on the Hajar Mountains, RAK has built a flourishing manufacturing...
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