The Gulf’s retail market is set to become a USD 221 billion industry by 2015, growing remarkable at 7.9% each year for the next three years, according to Markaz, Kuwait Finance Centre.
A 5.2% correction in the Dubai Financial Market in the month of March took the shine off an otherwise stellar quarter for the emirate and the wider Gulf markets.
While OPEC may not take action at its meeting on December 12, most analysts expect the group to cut production in the new year or face depressed crude prices.
Kuwaitis have seen a fair number of elections in recent years, but the one being held on December 1 may turn out to be the most significant for the country’s political and economic well-being.
Regional banks had the lowest cost-to-income ratios in the world. The Banker magazine’s data shows Middle Eastern banks average cost-to-income ratio was 39.69%, down from 41.37% last year
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Report of Kuwaiti interest in Canadian oil sands companies highlights the treasure trove of oil riches in the North American country.
The failed Kuwait-Dow Chemical mega deal is regarded as one of the biggest examples of how the Kuwaiti parliament has hindered the country’s economic progress.
Ibrahim Dabdoub’s criticism of Kuwait’s economic malaise highlights the banking sector’s frustration over lack of government reforms and lethargic private sector growth.
As the EU crisis worsens, GCC banks are likely to face a higher demand for corporate loans as capital market liquidity tightens….