Egypt sees 103 new coronavirus cases to reach 1173; death toll up 7 to 78    EGX starts week in red amid Arab, foreign selling    Ahmad Abdalla's Exterior/Night comes fourth on Netflix daily rankings in Egypt    The Minister of International Cooperation launches the results of the Global Partnership for Effective Development Cooperation Survey    South Sudan has 1st virus case, is 51st country in Africa    Disney+ content to make exclusive Middle East debut on OSN    4.3 magnitude earthquake hits East Nueweiba    Worldwide coronavirus cases cross 1 million, death toll passes 64,000    ‘Screens and Streams': Arab Fund for Arts and Culture releases films and music online    'Complete collapse of economies' ahead as Africa faces virus    Pope begins Holy Week events without the public    Art Alert: Cairo Steps and Um Kulthoum are highlights of culture ministry YouTube channel's new releases    Serbian player sentenced to 3 months at home for flouting curfew    Egypt non-oil private sector contracts faster as virus hits -PMI    Kenny replaces McCarthy as Ireland manager    ‘Stay home. Save lives': Google Doodle provides tips to help stop spread of Coronavirus    Egypt's swimmer Osman quarantined in Red Sea resort after returning from US    Tesla cuts contractors from California, Nevada factories: CNBC    17 doctors, nurses at Egypt's National Cancer Institute test positive for coronavirus    Egypt delays launch of mega projects to 2021 due to coronavirus    Sisi: Egypt in solidarity with people of whole world in coronavirus    Japan ready to give coronavirus-hit nations anti-flu drug Avigan for free    Egypt's Zamalek to extend Carteron's contract after end of coronavirus    Amazon to postpone Prime Day sales event due to coronavirus    Comedy puppet Abla Fahita returns to screens during Egypt's curfew    Broadcaster predicts Spain's La Liga restart in July with no fans    Apple to stop taking cut of some Amazon video purchases on App Store    Filling GERD will begin this rainy season: Ethiopian PM    Egypt's Supreme Council of Culture launches three new competitions    Freed from detention    Huawei to explore the ultimate potential on its Huawei P40 series    Egypt, MENA growth forecast at 2.7%, -0.3% respectively: IIF    Prosecution warns of EGP 300k fine or 2-year jail for spreading fake coronavirus news    Al-Sisi discusses joint coronavirus efforts with Abu Dhabi Crown Prince    Saudi Arabia intercepts missiles over Riyadh    CBE temporarily regulates cash deposits, withdrawals    Lagging COVID-19 response to shield frail economy: Rouhani    Farwell to Egyptian comedian George Sidhom    Weekend's virtual concerts, plays, and festivals people can stream at home    Amid coronavirus outbreak, Egyptian Premier League cancellation seems inevitable    Brazilian football stadiums transformed into hospitals to treat coronavirus patients    Stay At Home: Ministry of Culture to publish free books online for public browsing    What to watch to kill time in quarantine?    Ethiopia has not sent Egypt latest designs for GERD: Minister of Irrigation    Nigerien President hails Egypt's diplomatic attempts to reach agreement over GERD    Al-Sisi appreciates Kenya's support to Egypt's stance on GERD    Cairo court acquits Mubarak's sons of stock market manipulation    Egypt's President Sisi pardons some prisoners on 25 Jan. Revolution anniversary    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Confidence returns to Middle East investment
Published in Almasry Alyoum on 16 - 10 - 2010

Middle East governments and companies are raising cash again from debt and equity markets, while solid oil prices and improving economic fundamentals are helping the region recover and restructure.
Yet even as the region regains its footing after the global financial crisis, political tensions and concerns over security remain a nagging worry for investors in the region.
"The outlook is better than a year ago, though investment levels are still well below those seen in 2005-8," said economist Simon Kitchen at investment bank EFG Hermes, referring to Egypt's investment climate.
"Political uncertainty may also be discouraging some investments by local and foreign businesses. Investors want consistency on policy," Kitchen added.
The investment climate in the Gulf region is improving on the back of strong oil prices, expansionary spending by governments and a revival in project activity, analysts say.
"The shortcomings of the region are very short-term in nature and problems in the real estate and banking sectors are being worked through. There is light at the end of the tunnel," said Paul Cooper, managing director at Sarasin Alpen and Partners in Dubai.
State-owned conglomerate Dubai World's US$25 billion debt deal last month has eased concerns over the Gulf emirate's debt woes, with developer Nakheel builder of man-made islands in the shape of palms, next in line to restructure.
In another sign of better times ahead, UAE retailer Axiom Telecom this week announced plans to list a 35 percent stake on the Nasdaq Dubai market, the first IPO from the Gulf state in two years, which could spark a revival of the region's IPO market.
Outside the Gulf, banks in Egypt and Lebanon have emerged from the economic crisis relatively unscathed, with both states expecting strong economic growth.
In Egypt, the government expects growth of at least 6 percent in the fiscal year to the end of June 2011, up from 5.3 percent the previous year.
It is hoping for foreign direct investment of US$9 billion, rising from US$6.8 billion, but analysts say many investors still balk at weak transport infrastructure, frequent power cuts and an education system that fails to develop the skills they need.
Lebanon is expected to record economic growth of 8.0 percent and forecasts 5.0 percent growth next year.
But Lebanon is one of the world's most highly indebted countries and servicing over $50 billion debt consumes a major part of the budget.
Growing political tension over an international investigation into the 2005 killing of former premier Rafik al-Hariri has prevented the unity government from implementing reforms or getting the 2010 budget through parliament.
If tensions escalate into sectarian violence many Lebanese could withdraw their savings and the Lebanese pound could come under pressure. But the country has bounced back quickly from previous conflicts.
Political and security tensions also run high in the Gulf with concerns over Iran and last month's broad crackdown by Bahrain, which arrested Shia opposition leaders accused of trying to overthrow the Sunni monarchy.


Clic here to read the story from its source.