Middle East

As Lebanon’s dollar reserves disappear, time is running out. Central bank governor Riad Salamé’s tweaks to the banking sector will have little effect and commercial bankers’ attempts to resurrect dollar inflows sound deluded. Is recovery possible without a change in financial leadership?

Fears over greenwashing claims have often dissuaded issuers from the Middle East from entering the sustainable bond markets. That could be set to change.

Donald Trump reversed a deal that would have brought Iran back into the international fold. Now Joe Biden intends to reverse Trump’s reversal. Does that mean good times ahead for Iran’s banks?

If you want to see what a strong economic and financial recovery might look like in 2021, you’ll find it in Dubai.

The pacts will normalise relations between Israel and the UAE, but it aims to do much more. The potential for regional détente and investment across real estate, energy and technology is great.

FAB’s status as a national champion means it is even better positioned after Covid-19 to facilitate regional growth.

There are interesting titbits on Africa, private debt and renewable energy at the Abu Dhabi sovereign wealth fund.

The Public Investment Fund is unrecognizable from the sleepy vehicle it was until 2015. More risk has led to some bad investments, but the crown prince says overall returns are good. Can they stay that way?

The Egyptian bank is to launch a digital bank as Covid-19 accelerates the government’s push for a cashless society.

Bankers see huge opportunities on both sides as Israel signs historic agreement with UAE and Bahrain.

Faced with an estimated $100 billion budget deficit but committed to a vast expenditure programme, Saudi finance minister Mohammed Al-Jadaan explains how he plans to balance the books.

Euromoney asked its panellists to rescore Lebanon’s risks in the aftermath of the port tragedy on August 4, with investors left pondering what’s next for a country now desperately in need of aid and finance for reconstruction.

The government’s resignation this week could pave the way for reform – and unlock essential IMF funding – but is the will to change there?

As Iran’s currency crisis deepens, observers fear that far from improving the situation, state intervention will do further damage to a country that was in economic turmoil even before coronavirus.

The Covid-19 crisis will accelerate monetization in the Gulf and see Abu Dhabi companies take equity stakes in the emirate.

The six exchange-rate system is now untenable, with the currency losing more than 50% of its value since October, but analysts say floating the currency will cause more pain without IMF support.

Profit pressure is a threat to every bank, says Qatar Islamic Bank’s group CEO Bassel Gamal, discussing how Qatar’s robust and well-capitalized banking sector is navigating the twin shocks of lower oil prices and coronavirus.

Dubai raises funding amid perfect storm of Covid-19, economic slowdown and falling oil prices.

The Gulf’s largest economy is facing unprecedented challenges from the coronavirus Covid-19 and oil at $30 a barrel. Has diversification under Vision 2030 done enough to help Saudi Arabia weather the storm or will it be forced to abandon its dreams of diversification?

Lebanon’s banks are on the brink as the country looks to restructure its debt. Could rich depositors, who have for years enjoyed inflated interest rates, be called on to take a hit?

Gulf central banks have unveiled big stimulus packages but commercial banks need to transmit this to the real economy – difficult to do when appetite for credit is so low.

A double shock of Covid-19 and falling oil prices brings the spectre of recession to the Gulf, while efforts to diversify economies are being derailed.

Expo 2020 showcases economic and business opportunities in Dubai. Bankers hope it will lead to a boom in areas such as SME lending and infrastructure investment, but worry that a short-term lift will not be enough to dispel broader concerns about the country’s economy.

Despite MSCI index inclusion and a landmark trade by Saudi Aramco, global funds are still $70 billion underweight Gulf equities, but the UAE and Saudi are making progress in deepening markets.

DP World is planning to delist from the Nasdaq Dubai in a move that directly contradicts the UAE’s efforts to improve liquidity and diversity in its domestic exchanges.

As birth rates fall and the UAE government looks at ways to spur population growth, private equity firms see opportunities in IVF.

A draft law in the United Arab Emirates will see more family-run corporates listing, while pension reforms will create a huge pool of investable assets.

Israel has taken orders of $20 billion for its first Eurobond of the year, despite the deadly strike on an Iranian general that threatened to push simmering Middle Eastern tensions to boiling point in early January.

The Qatari bank is investing at home and abroad, growing its loan book and building strong operations in Egypt and Turkey.

Analysts think that FAB has the best potential platform of any bank in the region. Can its management deliver?