Category Archives: Business
To view this report please subscribe to The MIddleEast Magazine.
“Having large companies on the stock market will help us to get the large mutual funds and large sovereign wealth funds into Iraq,” says Shwan Ibrahim Taha, chairman of Rabee Securities, which was the sole distributor and selling agent for the IPO. “We’re hoping it’s going to raise the liquidity on the market. Once it raises the liquidity it will allow the stock market itself to do more things and it will allow us to do more things.”
Cheaper ways of separating and extracting, especially rare earth metals, are being developed. With no shortage of capital and investment already being made in the region’s science and technology sectors, efficient recycling of this kind is an area Middle East governments would do well to pursue. One company, Akhdar, based in Dubai, recognises that the greenest solution to recycling old computers is to refurbish them and find a market to sell them to. If that is not possible, the company separates the materials in the machines for recycling and sends the electronic circuitry to Britain where the rare earth metals are extracted. In both instances, the client receives a percentage of money made.
The only treaty on sharing the waters of the river once honoured by all the affected countries was based on a colonial era deal set out by Britain in 1929. But it was replaced in 2010 by a new instrument adopted by the five upstream African countries led by Ethiopia – and rejected by Egypt and Sudan.
Continuing broadband penetration across most of the Middle East and North Africa has not only boosted the numbers of Facebook and Twitter users but is also a major factor in the steady growth of e-commerce.
Situated on some of the world’s most lucrative trade routes connecting Asia, Africa and Europe, Turkey is now rapidly expanding its transportation and logistics infrastructure to cater to its future role as both an energy and industrial global hub, as well as an increasing magnet for both regional and international tourism.
“The government doesn’t have any excuses any more.” Even before the election there had been some signs of progress. The Emir Sheikh Sabah Al Ahmad Al Jaber Al Sabah had made a number of televised speeches, which gave observers hope that the economic inertia that has gripped the country might be coming to an end.
Some 60% of Qatar’s $1.25bn grant will be used to fund local community development projects, another programme that will help to reduce unemployment, especially in the rural areas, according to Finance Minister Suleiman Hafez. Another 15% will be spent on projects in the energy sector, such as shale oil exploration, 15% on education and health and 10% on transport.
‘Stick or twist’ sums up the changes of political power in America and China last month. President Obama won another four-year-term in Washington, while Xi Jinping assumed stewardship of China. This intricate ‘Chimerican’ relationship is fundamental to the global outlook anywhere you care to look, and nowhere more so than the Middle East.
Again, as in its relations with most other governments, the IMF has asked Cairo to reduce or phase out this financial support, partly in order to improve its finances and partly in an attempt to reduce consumption. Egyptian oil and gas consultant Magdi Nasrallah says: