Segments of the GCC financial markets are beginning to develop traction - Arab News

The uneven performance of the GCC financial markets has continued to reflect the extremely uncertain global economic situation as well as a number of risks - most of them country-specific - in the region itself. Nonetheless, commenting on a review of the financial markets during the last quarter of 2011 by the National Commercial Bank, chief economist, Jarmo T. Kotilaine noted that "the recent data clearly show that a fairly consistent positive momentum has now developed in areas such as bank lending and sukuk. A number of factors suggest that these trends will continue even if they remain to an extent vulnerable to external shocks. By contrast, we are looking at a much more mixed picture for IPOs (initial public offerings), conventional bonds, and alternatives."

* username: rupertbu