The Middle East

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Since launching in 1992, the Kuwait Offset Programme (KOP) has played a key role in stimulating the growth of local industries and attracting foreign investment, particularly in the areas of defence and education. Under the National Development Plan (NDP), the KOP is expected to grow even further, as policymakers encourage new offset projects in the...

What can the GCC learn from Singapore’s economic development strategy?

Since gaining independence in 1961, Kuwait has been of the most economically productive and politically liberal nations in the Gulf Cooperation Council (GCC) and the wider Arab world. With strong public finances, a young and well-educated population, and vast oil deposits, the country also has a bright future in the global economy, where it...

The four largest banks in Abu Dhabi reported an increase in annual profits for 2011 and, in two cases, have substantially exceeded analysts’ expectations. Meanwhile, lending in the UAE overall was up in 2011 and is expected to continue through 2012, with growth being driven in part by retail banking, including loans to small and medium-sized enterprises (SMEs).
With an increase in both government and private sector spending as a series of new infrastructure, tourism and social services projects are rolled out, Oman’s construction sector is set to experience robust growth in the coming years. The sheer scale of the building programme, however, could test the capacity of the industry.
Istanbul’s public transport system is set to be radically overhauled by the addition of an underwater transit tunnel, new train stations and a possible third bridge over the Bosphorus. The most recent development in Turkey’s transport section has been the completion of the undersea section of the Bosphorus tunnel – or “Marmaray” – project.

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