©Insy Shah/Alamy

In this report

The oil price plunge poses new challenges for the region’s governments, but with low levels of debt the Gulf states can implement fiscal reforms to offset the decline in revenues

Lower oil price forces government rethink

Spending cuts are expected as well as new opportunities for business

Gulf lenders expand while others retreat

Gulf banks have been blazing an expansionary trail across north Africa and Asia

A Saudi investor monitors the stock exchange at the Saudi Stock Exchange, or Tadawul, on June 15, 2015 in the capital Riyadh
©Fayez Nureldine/AFP

Saudi Arabia forced to embrace change

Culture of largesse is under pressure as the country accelerates efforts to cut dependence on crude

Egypt's presidential candidate and former army chief Abdel Fattah al-Sisi gestures during an interview with Reuters in Cairo May 14, 2014
©Amr Abdallah Dalsh/Reuters

Corporate lending takes off in Egypt

A large proportion of loans still go to the Egyptian government

Hashim Shawa, chairman and chief executive officer of the Bank of Palestine Plc poses for a photograph in Geneva, Switzerland, on Friday, Aug. 5, 2011
©Gianluca Colla/Bloomberg

Bank of Palestine survives into fifth decade

Three generations of one family have helped the institution grow and remain profitable

View of new Sowwah Square property development on Al Maryah Island in Abu Dhabi United Arab Emirates
©Iain Masterton/Alamy

Ambition is a mother of invention

Abu Dhabi’s financial centre will find it hard to compete with Dubai

Abdul Aziz Al-Yaqout

Fiscal collaboration is vital for stability

Gulf states will be resilient in handling the current decline, writes Abdul Aziz Al-Yaqout

Dubai’s Burj Khalifa
©Arcaid Images/Alamy

Cash rolls in as region shrugs off bad news

Indicators show a marked upturn in financial activity in the region, even as sectarian violence spreads

a visitor to the Dubai Financial Market using prayer beads
©Duncan Chard/Bloomberg

Equities soar as confidence returns to stock markets

Despite gains, growth will probably slow

Cautious mood pervades the sovereign wealth fund industry

Managers make the most of their freedom to take a longer-term view on investments

Gulf delivers rich returns to local private equity groups

Overseas firms are seeking ways to become part of the action

Point of view: Steffen Hertog

Prescription to reform the world of business

Uprisings leave sluggish growth in their wake

Structural reform and wider employment are urgent priorities

Non-Muslims tap sukuk market

UK was first government from west to issue an Islamic bond