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Middle East
Trading paper wealth for real assets
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The spending of the oil wealth will suck in imports, provide a medium-term economic boom and might swiftly and radically realign the global order of which countries boast what combination of real wealth, jobs and durable economic activity. Euromoney September 2006 |
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MENA’s financial sector landscape: The shape of things to come
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Despite Gulf coffers brimming with oil cash and aggressive expansion by some of the region’s banks, inherent barriers to regional consolidation are set to limit fundamental change in the Middle East and North Africa’s financial sector landscape over the next five years. Alex Warren reports. Euromoney September 2006 | |
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Tehran’s top banker looks to the future
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Ebrahim Sheibany is governor of Iran’s central bank, a position he has held for three years. He tells Eric Ellis in Tehran that as far as economic policy is concerned, little has changed, despite the election of Mahmoud Ahmadinejad as president. Euromoney September 2006 | |
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Iran hangs on in financial markets
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A few big foreign banks have recently suspended their activities, but they are far outweighed by institutions that intend to maintain a connection. And Iran’s prominence as an oil producer means that it sustains substantial economic relations with foreign export credit agencies and governments. Philip Moore reports. Euromoney September 2006 | |
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Iran’s private sector gets a new lease of life
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Iran’s authorities are looking to invigorate the country’s private sector with plans to sell up to $110 billion-worth of state assets over the next 10 years. Can the programme attract the foreign investors it needs to succeed? And can Iran’s government learn from past mistakes? Euromoney reports. Euromoney September 2006 | |
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Lebanese reforms caught in the crossfire
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Israel’s conflict with Hizbullah began just as Lebanon was finding its feet again following the assassination last year of former prime minister Rafik Hariri. The government was in the middle of a series of reforms that it hoped would provide the capital markets with a bigger role in the country’s economic story. Those reforms are now on hold but it is imperative that they are implemented as soon as circumstances allow. Sudip Roy reports from Beirut. Euromoney September 2006 | |
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Lebanon’s finance minister: ‘The phoenix will rise again’
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Lebanon’s finance minister, Jihad Azour, told Sudip Roy in early August how his country is coping with conflict. Euromoney September 2006 | |
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Saudi economic city passes the IPO test
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Saudi investor interest in the IPO of the main company behind the King Abdullah Economic City was overwhelming. It is now hoped that the project will attract equivalent interest from foreign companies intent on participating in the special economic zone. Nigel Dudley reports. Euromoney September 2006 | |
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How litigation became a priceless commodity
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French bank BNP Paribas is being sued in the US federal courts by a hedge fund over the financing of contracts for oil from Congo-Brazzaville. Rather than settling out of court, BNP says it will fight the lawsuit all the way. Felix Salmon reports on a grey area of black gold. Euromoney September 2006 | |
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Has Nigeria turned the corner?
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Nigeria’s economic reforms have been impressive. But after the resignation of a key figure in the country’s turnaround, can they be made to stick? Rupert Wright reports from Abuja and Lagos. Euromoney September 2006 | | |