ARAB FINANCIAL FORUM NEWSLETTER MARCH 2011. ISSUE I
Unrest costs Middle East, NorthAfrica markets $90 bln
March 9, 2011
The Middle East and North Africa marketshave lost nearly $90 billion year-to-date,mostly due to rising tension in Libya,according to analysts at Kuwait FinancialCentre (Markaz), who expect the upwardpressure on oil prices could seriously threatenthe global economic recovery.
Saudi Arabia’s stock market has plunged by
nearly $54 billion since the end of January asinvestors remain under the grip of fear that thecurrent turbulence in the region could spill into
the world’s oil superpower.
SABIC upbeat on 2011, toresume Japan ops Monday
March 13, 2011
Mohammed Al Mady, Saudi Basic IndustriesCorp's (SABIC) chief executive told Reuters onSunday that SABIC shut down its plant inJapan after a devastating earthquake there butwill resume operations on Monday.Read more
OPEC oil output rose nearly 30mbarrels per day in Feb
March 11, 2011
OPEC's crude oil production output jumped toan average 29.8 million barrels per day (b/d) inFebruary, as Saudi Arabia continued to boostproduction, according to a new Platts survey.Read more
March 10, 2011
The Arab League Secretariat Generalannounced Thursday that it would launch itsfirst Global real estate bourse with Arab andinternational participation aimed at developingreal estate investment.
Loan impairments easing in Gulf,says Standard Chartered
March 11, 2011
Credit quality and bank liquidity has improvedin the Gulf following a sharp ease in loanimpairment charges last year, the global CEOof Standard Chartered Bank said.