Maha al-Ghunaim: Most powerful woman in the Arab world August 31, 2008
Posted by mylastresort in analysis.Tags: Arab, Forbes, Global Investment House, kuwait, Maha Al-Ghunaim, Rank, Women
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Forbes has released the top 100 most powerful women in the world and has ranked Maha al-Ghunaim as #89 on the list. The measurements of “power” are composed of the following factors:
- The womens public profile, or number of press mentions
- The amount of wealth she controls
- Job title
- Past career accomplishment
Maha al-Ghunaim is the Chairman, managing director, Global Investment House in Kuwait.
JP Morgan buying stake in KFH April 20, 2008
Posted by mylastresort in analysis.Tags: Arab, banking, investment, Islamic, JP Morgan, JPM, KFH. Kuwait FInance House, kuwait
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Rumors JP Morgan are interested in buying a stake in Kuwaiti Islamic lender Kuwait Finance House have surfaced. Shares have not been effected. KFH has gained 6.29% this month and 26.7% this year up to last weeks closing price.
Gulf currency reform meeting today April 6, 2008
Posted by mylastresort in analysis, bahrain, qatar, saudi arabia.Tags: Arab, Central Banks, Dirhan, Governers, Gulf, oman, qatar, Reform, Riyal, saudi arabia, Single currency, uae
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The Gulf central bank governers last meeting was six months ago. In the meeting the governers decided not to revalue their currencies in anticipation of a single currency union (plan of 2010). Since their meeting:
- UD Dollar has fallen 14% against the Euro
- US Federal Reserve lowered rates 6x
- Inflation in the Gulf has almost doubled
As Saudi Arabia claims that it has no currency reform plans, Qatar and UAE, have publicily announced that they are rethinking their pegs. It will be interesting to see how todays meeting turns out…
Asian average monthly salary – chart April 2, 2008
Posted by mylastresort in analysis, bahrain, qatar, saudi arabia.Tags: Arab, Asian, Average, Average wages, Averages, bahrain, Employee, Expat, Expatriate, Gulf, kuwait, Monthly, Monthly Salary, oman, qatar, saudi arabia, Wages
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A chart developed by EDB last month shows the average monthly salary for Asian expatriates in the Arabian Gulf. I am not familiar with ‘EDB’.
The accuracy of the data is questionable.
Kuwait’s policy strategy plan 2009 – 2014 April 2, 2008
Posted by mylastresort in analysis, bahrain.Tags: Arab, bahrain, Countries, Dubai, Future, Government, Gulf, Investments, kuwait, Kuwait City, Kuwaiti, Manama, Oil, Outlook, Parliament, Policy, Policy strategy, Report, Strategy, uae, United Arab Emirates
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Information in a 2009 – 2014 policy strategy plan formulated by Kuwait’s planning council has been made public. The policy strategy is not strictly adhered to, nor is it marketed to the public, rather it is just a report amid many reports circulated by the government.
Here are a few of the plans:
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Boost non-oil economy (at less than 10% of revenue)
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Increase foriegn investment (become a financial hub)
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Sell land/Ease ownership rules (in preparation of post-oil era)
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Continue privatizations (eg. selling of Kuwait Airways Corp.)
Gulf Arab inflation expected at 8% in 2008 April 1, 2008
Posted by mylastresort in analysis, bahrain, qatar, rumors, saudi arabia.Tags: Arab, Asia, bahrain, Bank, Cap, currency, Dinar, Director, Dirham, Dollar, Federal Reserve, Gulf, IMF, inflation, Inflation Report, International Monetary Fund, kuwait, Lending, Level, Liquidity, Middle East, Mohsen Khan, oman, Peg, qatar, Rental, Riyal, Saudi, saudi arabia, uae
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The International Monetary Fund (IMF) has stated that it expected the average Gulf Arab inflation levels to increase in 2008 to 8% from 7% in last year. Inflation has been a major problem in the Gulf arab region with migrants workers protesting and import prices increasing due to the dollar peg by Arab countries. As the US Dollar loses value the Gulf countries are forced to lower rates in succesion to the US’s Federal Reserve.
“The inflation rate in the Gulf was around 7 percent last year and we expect it to be seven to eight percent this year… On the demand side, there is a big push to expand government spending and liquidity is high in the system, which means people have more access to liquidity and more access to spending power”
- Mohsen Khan, IMF director of the ME
Increase of foreign investment in Abu Dhabi bourse March 18, 2008
Posted by mylastresort in random.Tags: Abu Dhabi, Arab, Bourse, Deputy Director-General, economy, Foreign Investment, GDP, Gross Domestic Product, Rashed al-Balous, Statement, Stock Market, uae, United Arab Emirates
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Rashed al-Balous, Deputy Director-General of the Abu Dhabi bourse, claims that foreign investment on the Abu Dhabi Securities Market will increase in the coming period, he did not give more details. I dont understand the circumstances around the statement but it cannot end there, we need more details! In the same conference he stated that the UAE’s Gross Domestic Product (GDP) is expected to grow 13% in 2010.
Rumors that CBK will cut rates March 17, 2008
Posted by mylastresort in analysis, bahrain, qatar, rumors, saudi arabia.Tags: Arab, bahrain, Cut, Dollar, Economies, economy, Emergency meeting, Federal Reserve, Gulf, inflation, Interest Rates, kuwait, Monetary Union, Peg, qatar, Rate, saudi arabia, uae
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Since the Federal Reserve cut its rates less than 12 hours ago the pegged currencies in the region must follow suit. Therefore, the UAE, Bahrain, Qatar & Saudi Arabia will cut rates even though these countries should depeg and increase rates to stem inflation.
Kuwaits Central Bank is also expected to cut rates, rumors in the market that the Central Bank will drop 25 basis points off the Discount Rate. The drop in the interest rates should increase corporate borrowing from banks and fund local business pushing the stock markets up.
