The Middle East

Saudi Arabia is accelerating efforts to take its industrialisation process to the next level, moving from the processing of feedstocks – particularly hydrocarbons – towards utilising the resulting petrochemical materials for the manufacture of finished products. Rising demand on both the national power grid and on raw materials, however, could have an impact on the rate at which new developments are realised.

After a period of relative inactivity, Oman’s stock exchange, the Muscat Stock Market (MSM), could be about to see heightened activity with the listing of a number of important companies keenly anticipated.

With investor demand for Islamic bonds growing, Abu Dhabi-based businesses are increasingly turning to the sukuk market to finance their activities, with four companies since November 2011 having issued sharia-compliant debt instruments. Meanwhile, the first three months of 2012 saw two major conventional bond issuances from Dolphin Energy and the National Bank of Abu Dhabi (NBAD).

Seeking to reduce the incidence of diabetes and lower the costs affiliated with its treatment, Qatar is stepping up efforts to encourage healthy lifestyles via education and informational campaigns that focus on proper diet and nutrition. The growth of private health care centres and the imminent arrival of mandatory health insurance should also play a part in stemming the disease’s growth.

Ras Al Khaimah’s (RAK) economy is on track to post a second year of solid growth. The emirate, however, is also keeping an eye on any signs of economic slowdown or political instability elsewhere in the region, which could impact its overall expansion.

The Kingdom’s telecommunications sector is looking to boost revenues this year as competition intensifies between service providers. Bahrain’s telecommunications market provides a strong base for the nation’s three firms, but fierce competition is driving efforts to increase value and enhance services.