The Middle East

With the seizure by Turkish authorities of some 219 companies belonging to the Uzan Group mid-February, the final chapters in one of the country's most controversial corporate sagas appeared to be closing this week. Now, many are wondering what next, as the state's new portfolio gets examined, and prospects for a lucrative fire sale get aired.

Recently, the OBG conducted an exclusive interview with Abdulla bin Khalid al-Attiya, the governor of the Qatari central bank. With the resultant discussion covering many aspects of finance and banking within the country, the OBG is proud to present extracts from this interview in the following briefing.

While most Qataris would probably say that last year's US-led invasion of Iraq had little impact on their country's booming, gas-fuelled economy, it has made for major changes in at least one area - the labour market.

Last week, Doha became the first Arab capital to formally announce its intention to write off some of the massive debt burden incurred by Iraq during the past 25 years. While most analysts see the move as having little effect on either the Qatari or Iraqi economy, it is nonetheless being seen as an important first step in encouraging other Arab nations to follow suit.

These have been busy times recently in Turkey's energy industry, with news of a major privatisation coming alongside reports of new oil exploration in the Black Sea. Meanwhile, the ongoing dispute over use of the Bosphorus by oil tankers flared into life again, with accusations and denials flying over alleged unnecessary closure of the straits by the Turkish authorities.

Despite the recent focus on major gas deals, Qatar is also still trying to put itself on the map in sectors that require a more human kind of energy with the Doha Asian Games. Scheduled for 2006, preparations for this athletics tournament have placed a series of construction projects centre stage, all of which aim to make the small Gulf emirate a regional business and tourism hub.