The Middle East

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Kuwait can look back on 2011 as a year characterised by higher than expected oil revenues and developmental progress despite domestic political wrangling and turmoil in the global market.
Looking to better times in 2012 after a challenging 12 months that saw Bahrain’s economy lose some of its momentum, the Kingdom is seeing signs that several key sectors are moving quickly to recover lost ground in the New Year.
With forecasts predicting solid economic growth in 2011 and a political system that remained stable in spite of unrest rocking much of the Middle East, Oman looks set to see increased investor interest in the coming years.
Saudi Arabia’s telecommunications sector is to get a major shake up this year, with up to three new operators entering the mobile phone segment, though the route they will be taking will be very different from that followed by the three existing service providers.
A number of leading local firms are vying for lucrative construction contracts in neighbouring Gulf states and beyond, creating new opportunities for the sector.
The Van earthquake in late October, which stunned Turkey and dominated press headlines for weeks, has also brought renewed efforts to deal with the country’s decrepit and dangerous urban housing stock.

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