The Middle East

Egypt’s recent decision to halt gas supplies to Jordan and the kingdom’s subsequent decision to lift fuel subsidies has placed the country’s already difficult energy situation under an added level of stress. However, the decisions also highlight the need for Jordan to create its own alternative forms of energy import and production, a process that is already under way.

With greater emphasis being placed on quality rather than quantity, the real estate sector is witnessing increasing competition in the facilities management sphere, presenting opportunities to experienced companies looking to maintain both commercial and residential buildings.

The continued conservative approach of Kuwaiti banks, both Islamic and conventional, seems to be paying off, with a number of institutions posting strong returns for the third quarter and several banks reporting double-digit quarterly increases in net profits for the period.

Rising confidence among local consumers is being matched by the steadily strengthening economy, both of which should encourage spending in Abu Dhabi’s retail sector.

Although growth is expected to ease in Saudi Arabia’s competitive insurance sector this year, the industry still holds plenty of potential for expansion, particularly in the health and life segments.

Having maintained 47th place on the World Bank’s latest global survey regarding the ease of doing business, Oman has benefitted from the strong capitalisation of local banks and reforms making it easier to register property and connect to the energy supply. However, the report identifies that small and medium-sized enterprises (SMEs) could benefit from improved access to credit and further reforms to liberalise the business environment.