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]
Following weeks of anti-government protests, Bahrain’s rulers have invited Saudi Arabia and the United Arab Emirates to deploy 1,000 and 500 troops respectively to help stabilise the tiny Kingdom and protect its key infrastructure. Bahrain is ruled by a Sunni monarchy, but its population is 65-75% Shi’a. The Shi’a want major changes to the Kingdom’s… [Read more]
Regular readers of this blog will know that I have been to Dubai a couple of times over the past few years, most recently in March 2010 (see Dubai: Notes From A City At The Cross Roads) and have commented several times on the emirate’s financial crisis. Well, now I have come back from another… [Read more]
Emerging Market (EM) equities are looking pretty good at the moment, with the prospects of further quantitative easing out of the US Federal Reserve in particular helping to push a host of markets higher. Here at BMI, my colleagues and I have already entered bullish positions in our Key Market Views mock portfolio on Colombian,… [Read more]
Upon her return from the United Arab Emirates, we ask Liz Martins from the Middle East desk at BMI to share some of her views on the country and its prospects of weathering the macroeconomic storm hitting the region.
Around this time last year, I blogged about the correlation between the completion of skyscrapers and recessions. Having just returned from the UAE, which is getting ready to open the spectacular Burj Dubai in December, I can confirm the relationship remains in place. Certainly, the opening of the tower doesn’t mark the beginning of the… [Read more]
