Browsing All Posts filed under »Banking & Finance«

Is anyone surprised by Arcapita’s Chapter 11 filing?

March 20, 2012

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Gulf corporations continue to suffer from the after-affects of leveraged growth. In a grim reminder that many Gulf corporations are not out of the woods yet, Arcapita, the high-flying Bahraini investment firm, filed for Chapter 11 in the United States on Sunday. Why are we not surprised? Arcapita has stakes in a number of companies […]

Is bigger necessarily better for Dubai banks?

October 18, 2011

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So many questions, not enough answers. Dubai continues to consolidate its mainly government owned banking sector, mandating a takeover of the Shariah-compliant Dubai Bank by Emirates NBD, which is already the largest Arab bank by assets. Unlike the “merger of equals” between Emirates Bank International and National Bank of Dubai to create Emirates NBD, this […]

Caught in the sinking euro’s vortex

September 13, 2011

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A case for battening the hatches while the Greek tragedy plays itself out? Although the European single currency staged a mild recovery on Monday from its Friday fiasco, concerns remain that sentiment-driven trading is pulling other currencies down along with the euro. The Australian and Canadian dollars fell sharply, while emerging-market currencies also tumbled. The […]

Turnaround year for Gulf banks?

July 21, 2011

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2Q2011 banking results paint a divergent picture. Which nations will recover first? Gulf banks struggling to overcome the effects of the global credit crisis may be in the middle of a painful turnaround period. As the financial reporting for 2Q2011 speeds up, the results are painting a divergent picture. On the one hand, there is […]

MENA financial sector: A drag on growth

May 24, 2011

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Banks wary about lending. Equity markets without depth. A virtually non-existent bond market. Infrastructure spending continues to be the key driver of economic growth in the Middle East, and especially so among the oil-exporting nations of the Gulf. Fiscal stimulus, social infrastructure, roads and ports have remained in the bailiwick of governments. The latest numbers […]