Middle Eastern investors are likely to put far more money to work in emerging markets than in Europe, Japan or North America over the next three to five years, according to a recent article in the Financial Times.

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'Private Equity fundraising and investment activity throughout the Middle East and North Africa (MENA) region stagnated in 2009' says Emerging Markets Private Equity Association (EMPEA) Insight Issue for March 2010. The read more...

'For the first time, two Chinese naval ships visited the UAE, with a brief port call in Abu Dhabi' says a Financial Times article. It further adds that the event is another example of the growing ties between the Gulf and the Asian giant.

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The Government of Oman has announced an expansionary budget of RO7.2bn. The total planned deficit is RO800mn or approximately 3% of GDP. The deficit will largely be financed from current reserves.

The attached article (Golden Dubai) appeared in the Economist in June 1970. A useful reminder that Dubai has a longstanding reputation as a gateway to the region and is used to being in the international spotlight.

Take a look at this interesting report by Al Jazeera on the Dubai debt crisis featuring Sultan Al Qassemi.

The Arabian Gulf countries of Saudi Arabia, the UAE, Kuwait, Qatar, Oman and Bahrain should be added to the economic group referred to as BRIC's, to create a new group called ABRIC, according to Fawzi Jumean in The National.

The Economist published a report on the Arab World in July 2009. It covered the same old issues of democracy, oil, war and palestine.

A growing population in the Middle East has intensified the problems of water scarcity and wastewater management in the region. Regional governments are responding by speeding up reforms and involving the private sector which should create significant business opportunities, reported the Saudi Gazette in a special wastewater report.

In a surprise move, Riyadh was selected as the location for the GCC Central Bank headquarters; the Saudi Gazette reported at the regional summit of GCC leaders in Riyadh.

The wealthiest individuals in the Gulf have lost at least 25% of their wealth in the past one year due to the global economic crisis. The combined wealth of the top 20 billionaires is down from $115.4bn to $82.5bn.

HSBC monitors business confidence in the GCC region with its Business Confidence Index. The quarterly index polls executives and professionals from across the GCC region and is a good barometer of business attitudes. The latest index, out in March 2009, indicates a worsening of business confidence, albeit at a decreasing rate.

As the oil wealth of the region has increased, investing in human capital and sustainable educational development has become more important than ever for the GCC countries. NCB Capital's report on 'Shaping the Future', calls for increased government spending directed at building education infrastructure and ensuring long-term development far beyond an oil-based strategy.

Chatham House has published a report on the Gulf Cooperation Council or “GCC”, as it is commonly known, and concluded that the economic bloc is fast emerging as a significant financial services centre. 

The GCC is made up of six oil producing countries including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. The GCC is strategically located and has served as a hub for East-West trade for centuries but it was the discovery of oil that has enabled the GCC to modernize and develop at breakneck speed.