The past year has been a positive one for the Kingdom’s banking sector, with asset growth and profitability continuing the upward trend that has buoyed the industry in recent years. Growing cooperation between local and overseas banks has helped the sector, while remittance flows in the Kingdom are second only to those in the US. Government initiatives offer support for SMEs looking to boost...
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Fuelled by the ongoing state infrastructure investment drive, non-oil private sector growth was estimated at 9.4% in 2013. The Kingdom posted a budget surplus of $54.9bn in 2013, or 7.4% of GDP, driven largely by oil exports, which averaged 7.54m bpd over the course of 2013. Efforts are under way to boost the employment of nationals and make the most of Saudi Arabia’s young population, and...
Due in part to a large housing deficit, demand for residences in Nigeria looks set to remain strong, putting the real estate sector on course for a period of sustained growth.
The automobile industry notched up a robust performance in the Philippines last year, with record sales continuing in early 2015, largely due to economic expansion and the growth of the middle class.
Despite some near-term challenges, confidence is growing among Trinidad and Tobago’s industrial companies. According to the Business Confidence Report published by the Central Bank of Trinidad and Tobago (CBTT), the country’s “assembly and related industries” are upbeat about the next 6-12 months.
Further progress has been made in plans to build the Gulf region’s rail network, with Saudi Arabia looking to closely align the project with its economic and social priorities.