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Economic update | GCC Accelerates Trade Talks with Europe

22 Jul 2010
Foreign ministers from the six-member Gulf Cooperation Council (GCC) and the EU held meetings in Granada on February 27th-28th. While GCC officials had hoped that the talks would focus on a possible free trade pact, but Saudi Crown Prince Abdallah’s Middle East peace initiative dominated the talks instead.
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Economic update | Lower Inflation Figures Boosts Turkish Market

22 Jul 2010
Turkey's State Institute of Statistics announced on March 3rd that February Consumer Price Inflation (CPI) figures showed a rise of only 1.8%, bringing the annual rate to 73.1%.
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Economic update | UAE Tourism Shows Signs of Recovery

22 Jul 2010
Tourism to the UAE has suffered in the wake of the September 11th terrorist attacks. Optimism in the sector’s recovery is returning, however, especially with the advent of the Dubai Shopping Festival that began on March 1st.
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Economic update | UAE Looks to Attract More Investment Banks

22 Jul 2010
In a bid to attract global financial institutions to the UAE, Dubai crown prince Sheikh Mohammed bin Rashid al Maktoum announced on February 16th that the emirate would set up the Dubai International Financial Centre (DIFC), with the first licences to be issued at the end of 2002.
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Economic update | Turkish Market Recovery Still Slow

22 Jul 2010
The last couple of weeks in Turkey have seen the stock market and the Turkish Lira fall, despite the new IMF standby-agreement confirmed by the IMF on January 4th.
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Economic update | Mixed News for Turkish Economy

22 Jul 2010
The last couple of weeks have seen some good news for Turkey, including the slow but steady depreciation of the Turkish Lira against hard currencies, which has helped boost exports- total exports rose by 4.6% in January over December- and the Central Bank of Turkey’s (CBT) optimism about inflation.
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