Currencies
Middle East currency markets news and analysis, tenders, contracts awarded, commentary and economic data.
News
UAE hopes to rejoin planned Gulf single currency project
Single currency unlikely to be launched by its current 2015 deadline
Analysis
Spreading the financial risk in the region
Dubai’s debt crisis is causing problems for issuers of government-backed bonds across the region
Special Reports
Special Report: Banking - Short-term loans plug finance gap
The project finance market received a systemic shock when the global credit crunch hit in 2008. This year, the number of banks pursuing project finance deals in the Middle East is still at an all-time low. Industry sources say that just eight to 12 banks are seeking deals in the current climate, down from more than 45 two years ago.
Comments
Riyadh maintains dollar allegiance
With the US continuing to battle economic woes, Riyadh should reconsider its portfolio of holdings
Supplement
GCC projects inch ahead
Plans to integrate fiscal, transport and power infrastructure across the GCC countries have met with mixed success
Data
Currency peg risks creating another banking crisis
The banking sector in the Middle East risks another crisis in the next few years if the GCC continues a policy of pegging its currency to the US dollar, according to Youssef Nasr, chief executive officer and chairman of HSBC Middle East.
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