The UAE’s banking sector has continued to grow in both depth and complexity to become the largest in the region, accounting for 31% of the total volume of the GCC banking sector and about 20% of the gross volume of the Arab banking sector at the close of 2012. The sector’s profitable trend continued into the first half of 2013: aggregate net profit for the period ending June 30, 2013 reached $2....
The Middle East
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As the largest and most populous of the seven emirates that make up the UAE, Abu Dhabi plays a central role in the federation’s economy. Following the roadmap laid out in the Abu Dhabi Economic Vision 2030, its long-term economic development plan, the emirate has succeeded in nurturing new economic sectors and seems to be on track to meet its goals. The oil and gas sector accounted for 56.5% of...
Chapter | Country Profile from The Report: Abu Dhabi 2014
The UAE celebrated the 42nd anniversary of its establishment in 2013. Over this relatively short period of time, the country’s capital, Abu Dhabi City, has developed rapidly to become a thriving metropolis. Although the emirate’s economy remains largely based around the exploitation of its considerable hydrocarbons resources, it has also made admirable progress diversifying into new sectors, such...
Following a year of modest growth, activity on the Qatar Exchange (QE) shifted up a gear in early 2014, with its benchmark index, the QE Index, exceeding 10,000 points for the first time in more than four years.
While Jordan’s tourism industry continues to labour under the weight of regional instability, with official figures showing a 14% decline in the number of visitors in 2013, a variety of novel initiatives could hold the key to recovery.
Economic update | Kuwait set to upgrade refineries
12 Mar 2014
The recent approval of bids worth more than $12bn has paved the way for a major overhaul of two of Kuwait’s refineries, following costly shutdowns earlier this year.