18-20 January: MENA-EX 2009 Strategic Conference and Exhibition, Jeddah
19-21 January: Gulf C4ISR 2009, Abu Dhabi
19-21 January: Oil & Gas Maintenance & Technology, Manama
20 January: The World in 2009 Executive Forum, Dubai
24-25 January: Iraq Health Summit, Dubai
25-26 January: Operational Risk Management for Banking & Finance, Manama
26-28 January: 3rd Annual Global E&P Summit, Barcelona
28-30 January: Gas Transport & Storage Summit 2009, Barcelona
2-4 February: Middle East Energy Security Forum, Dubai
3-5 February: Strategic Private Equity Investment Middle East 2009, Dubai
9-10 February: Middle East Energy 2009: The Politics of Investment and Supply, London
17-18 February: Islamic Project Finance, Dubai
24-25 February: 8th Annual Islamic Finance Summit, London
24-25 February: Middle East Trade and Export Finance, Dubai
4-5 March: Oil & Gas Contracts with Host Petroleum Regimes, Paris
23-24 March: LNG 2009, London
Briefings & Reports
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In addition to producing the flagship fortnightly Gulf States Newsletter, GSN’s team of experienced analysts also produce briefings and reports on a range of topics and issues that affect the region. Our expertise can be tapped by anyone and delivered in a range of formats. For more information contact Nick Carn. nick@gsn-online.com
Issue 842 - 5 December 2008
IRAQ
Capitalisation, project finance among the issues to address as Iraqi banking sector re-emerges
Iraq’s banking sector is looking up as it profits from an upturn in regional trade deals, but local institutions remain under-capitalised, leaving them too weak to play a big role in the large-scale financing deals expected to materialise as reconstruction accelerates. Some consolidation is needed to address this challenge, bankers told GSN. more
Baghdad still largely off-cover
For the region’s highest risk market, Iraq, violence and political tension has created long-standing underwriting capacity constraints. more
TRADE FINANCE: IRAN, IRAQ AND SYRIA
What’s possible in tough market
No longer a global market leader for trade financiers, Iran has joined Iraq and Syria is in a difficult market for bankers to do business within the GSN area. more
IRAN
Tehran feels weight of sanctions
Capacity constraints for Iranian transactions are largely due to the standoff between Tehran and Washington, backed by European governments, on the nuclear question, which has cut US-based insurers and underwriters with US-based treaty reinsurance out of the market. more
SYRIA
Syria still in bottom category
As its cautious economic reform continues, Syria is showing potential for foreign investment, shown by Virgin Megastores and Carrefour’s plans to open in Aleppo in 2009. more
Issue 841 - 21 November 2008
DUBAI
Dubai’s Lootah Group sees potential in Puntland’s high-risk, high-reward environment
The Lootah Group is one of the oldest merchant families in the UAE and joins a string of investors that have recently signed agreements in Somalia and its neighbouring countries. Despite a brutal civil war between Islamic insurgents and Ethiopian military forces, some areas of the fractured state remain relatively sheltered and are seen as ‘virgin territories’ ripe for exploration and investment. more
QATAR / SAUDI ARABIA
QIA maintains drive to develop real estate
The ever hungry QIA plans to take advantage of the global property slump in its bid to diversify its asset base. more
QATAR
Al-Khalij enters UAE and European markets through BLC purchase
Qatar-headquartered Al-Khalij Commercial Bank, which offers Islamic and conventional banking services, has bought the French branch of Lebanon’s Banque Libanaise pour le Commerce (BLC). more
SAUDI ARABIA
Crédit Suisse increases Saudi presence
Swiss investment bank Crédit Suisse has expanded its presence in Saudi Arabia after announcing it had taken a majority 55% stake in its Saudi Swiss Securities joint venture, which it renamed Credit Suisse Saudi Arabia (CSSA). more
Pointers
COMPANY WATCH
QNB AL-ISLAMI: First overseas branch opens in Sudan more
SHARJAH ISLAMIC: Lending slows to counter crunch impact more
UIB: Ambitious expansion plans, despite market slowdown more
ISLAMIC FINANCE
MOODY’S: Islamic finance needs more sophistication more
