The sector appears to have largely recovered from the 2008-11 economic crisis, with the first half of 2013 seeing net profits in the UAE’s banking sector rising 20% to $3.7bn, while total assets grew 8% to $517bn during the same period, although there are a number of risks that remain outstanding. The introduction of new regulations has helped to improve overall stability in the real estate...
The Middle East
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As the emirate celebrates its victory in the bid to host World Expo 2020, infrastructure and transport development is expected to attract significant investment over the next few years. GDP growth reached 4.9% in the first half of 2013, the strongest result for the January-June period since 2008. Trade, the strongest of the emirate’s economic foundations, continues to grow, with non-oil...
Economic update | Oman Year in Review 2013
26 Jan 2014
Stable growth in Oman during 2013 is expected to continue this year, supported by both an increase in oil production and the government’s fiscal policies, with the non-oil sector set to boost expansion.
Economic update | Kuwait Year in Review 2013
26 Jan 2014
Strong consumer spending helped ensure economic growth in Kuwait this past year, although a slowdown in the energy sector meant the rise in GDP was modest. The outlook for the oil industry in 2014 is unclear, but there is an expectation that private consumption and the rollout of government infrastructure projects have the capacity to boost growth in the coming year.
Additional restrictions on consumer lending and higher interest rates could mean a slowdown in growth for Turkey’s banks, although the sector should have the resilience to ride out any shockwaves.
Business leaders in Jordan are stepping up their calls for government policymakers to consult more closely with them in formulating and implementing economic reforms, stressing the possibility of negative consequences for the private sector.