The Middle East

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Earlier this month, the Abu Dhabi Securities Market (ADSM) signed a cross-listing agreement with the Muscat Securities Market (MSM), reflecting its will to attract foreign investors, improve its performance and strengthen its links with regional markets.
Foreign banks are continuing to show strong interest in Turkey's banking sector, as demonstrated by the upcoming sale of state owned HalkBank and privately-held Oyak Bank.
Fuelled by the energy prices boom, Qatar has been a major player in the foreign investment market, with both the state and private firms going on a considerable spending spree over the past few years.
The announcement last week that Abu Dhabi will be home to the first Ferrari World is another clear signal of the emirate's intent to become a leading tourism destination.
Though the Gulf media has been giving increasing coverage to a possible easing in the region's real estate market and falling share values of some of the Middle East's leading property developers, it seems that Qatar isn't taking a lot of notice.
The opening of the World Economic Forum (WEF) in Istanbul on the November 23-24 was particularly timely, with a critical juncture in Turkey's EU accession bid over Cyprus looming in December and elections on the horizon in 2007.

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