On the eve of the elections, Egyptians have washed off much of the feel-good afterglow of the first revolution that ousted Hosni Mubarak. Now they are faced with the cold hard light of economic hardship and political uncertainty.

While Egypt’s first revolution earlier this year was full of hope and a spontaneity that surprised even the protestors, the second revolution less than 10 months later has a much sombre undertone. READ MORE HERE

Arab countries that have recently been liberated from the clutches of their dictators are searching for a path to prosperity. For many, the political and social and economic achievements of Turkey is worthy of emulation. Indeed, the Prime Minister Recep Tayyip Erdogan is somewhat seen as a rock star among the youth of the Arab world.

But a new study by Legatum Institute, focused on the prosperity of nations, wonders whether Arab countries could consider alternative growth models. READ MORE HERE

By Alon Ben-Meir

November 8, 2011

The Arab uprising must be seen as an integral part of a world in transformation. The technological and informational revolutions that have spurred (and continue to spur) globalization and interconnectedness between cultures make it impossible for tyrants to rule for the entirety of their lifetimes while mercilessly subjugating their peoples to lives of servitude with no prospect of ever tasting the true meaning of freedom.
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Travel Aficionado /Foter

Moody’s Investors Service has today downgraded the local-currency (LC) deposit ratings of the following five Egyptian banks:
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The Arab Spring not only cost at least three dictators their jobs but also $56-billlion in lost GDP for the worst affected countries, according to a statistical study by a consulting firm. READ MORE HERE

An excellent CBS 60 Minutes report on political life in Egypt eight months after Hosni Mubarak’s departure (Dated Oct 8), especially in light of recent sectarian clashes:
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Coptic Christian protesters clashed with pro-government forces Oct. 9, killing at least 23 people and injuring 180. If reports of protesters using firearms and violence against security forces are true, this would mark a distinct change in the tactics of such dissenters, as opposition forces may be turning more violent ahead of scheduled parliamentary elections. However, the violence will likely ultimately help the ruling military council, providing it an excuse to slow its plans to hand over power and possibly rallying support from parts of the Egyptian population.
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A short list of the world’s top 5 worst performing markets by end of September 2011.
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Middle East retail rents staganted in the 2010/11 period which ended in June, according to research consultants Cushman & Wakefield (C&W).

This downward trend was in sharp contrast to the growth seen in other emerging markets. Not surprisngly, some of the countries most affected by the Arab revolt saw the most severe declines. Bahrain’s retail rents fell 26.7% during the period, while Syria saw a 16.7% decline.
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The MENA region has a shortage of 3.5 million affordable dwellings, with Egypt, Iraq, Morocco and Saudi Arabia suffering from the biggest shortfalls.

For all the boom (and subsequent busts) in the regional real estate markets, there remains a shortage of a little more than 3.5 million units of affordable housing in the MENA region, according to Jones Lang LaSalle, the real estate consultants.

The largest shortfalls are in the markets of Egypt (1,500,000), Iraq (1,000,000), Morocco (600,000) and Saudi Arabia (400,000), but other Gulf markets also face shortages, brought upon by a host of factors. READ MORE HERE