The seven biggest telecoms service providers in the GCC – STC (Saudi Arabia), Etisalat (UAE), du (UAE), Qtel (UAE), Batelco (Bahrain), Zain (Kuwait) and Omantel (Oman) reported mixed financial results for the second quarter of 2011. One of the key financial indicators for telecoms operators is net profit. Figures published by the operators show du,… [Read more]

BMI’s Middle East and North Africa (MENA) team expects to see further gains for Qatari stocks for the following reasons: Qatar is the most politically stable country in MENA. So far no signs of unrest have been recorded since the start of 2011. Furthermore, with countries like Bahrain, Yemen and even Oman being strongly affected… [Read more]

Turkmenistan has topped the list of the largest overseas markets for Turkish contractors, followed by Libya, Russia and Iraq, according to a recent study by the Turkish Contractors Association. Turkmenistan’s position can be explained by the cultural and ethnic ties Turkey shares with Central Asian states. These were strengthened in the early 1990s, when Turkey… [Read more]

Several developments in 2010 will linger well into 2011. My colleagues and BMI’s Oil and Gas Team see industry majors continuing their push into deepwater drilling and unconventional hydrocarbons, while cash-rich national oil companies keep looking for upstream opportunities. Depressed US gas prices are unlikely to move significantly in 2011, while Asia-Pacific remains the LNG… [Read more]

Qatar’s successful bid to host the 2022 World Cup is a positive development, which will increase the country’s international exposure, provide a significant boost to the development of the non-hydrocarbon sector of the economy, and also help improve investor risk perceptions of the country. Moreover, this is also an additional step towards fulfilling the country’s… [Read more]

Ongoing efforts by Turkmenistan to cultivate stronger political and economic relationships with countries beyond the Central Asian region are supportive of my Business Monitor colleagues’ long-held view that the government would seek out a more balanced and diversified foreign policy over the long run. This has been exemplified in the past few months following a… [Read more]

Following a rally in Middle Eastern equity markets, driven by hikes in oil prices and the Dubai World’s debt restructuring, several bourses are up against key technical resistance. With momentum indicators, such as the Relative Strength Index (RSI) looking firmly overbought, I believe that a near-term correction is increasingly likely in Dubai, Saudi and Qatari… [Read more]