All Countries and All Sectors

With a major boost in the number of construction permits issued during the second quarter of this year, many are now wondering how real estate sector prices will adjust to this latest increase in the supply of new buildings. Some are worrying that the country's real estate market will become oversupplied, which could eventually trigger a price crash -- while others maintain what is happening is a normal development in a dynamic real estate market.

On the divided island of Cyprus, many Turkish Cypriots had been expecting that the end of August would see some major improvements in their lot, with trade and aid promising to kick-start economic growth in their internationally unrecognised state, the Turkish Republic of Northern Cyprus (TRNC). But the first trickle of commerce across the Green Line separating them from their Greek Cypriot neighbours was marred by mutual recriminations between the Greek and Turkish Cypriot authorities over terms and conditions.

Despite measures restricting banking liquidity introduced earlier this year, the latest data released by the Bulgarian National Bank (BNB) this week suggests that we have not yet seen the end to the country's credit boom. As a result, the most widespread expectation is that new measures will soon be implemented to drain excess banking liquidity - yet the measures being suggested are not without their critics.

With one of the world’s most prestigious financial newspapers awarding the UAE and Qatar a joint silver medal for safety in investment mid-month, the Emirates have been basking in some positive press in recent days. There was more Olympic-style success to come though as the month closed, with the UAE winning gold for market capitalisation growth amongst the Gulf Cooperation Council (GCC) states.

The opening of the fifth International Fair for Textiles and Ready-Made Clothing in Ankara on August 19 confirmed Turkey's confidence in textiles as an engine for domestic economic growth. Though Turkish textile producers may be able to stand up to foreign competition at present, local enterprises need to remain nimble footed as pressure from the international marketplace heats up in the coming years.

With the eyes of the world concentrated on the Olympic Games in neighbouring Greece, Bulgarian tourism officials are hoping that some of the attention devoted there will drift over the border. And with new figures out showing a healthy rise in tourist numbers, they may be onto something. While Black Sea beach tourism revenues are looking healthy, concerns remain over the short-term sustainability of present business models. Many now see the need for the country to exploit its many other natural and man-made advantages in order to get more bang from the tourism buck.