Western banks under increasing pressure at home are cutting back their Arab world operations, part of a dramatic reshaping of the regional financial landscape that is creating opportunities for local banks and for companies from Asia and elsewhere.
Oil money flooding into the Gulf petro-states has left many government and private institutions rich in capital, but they – and their overseas rivals – must contend with the extraordinary political forces that have swept the region over the past two years. The volatility has already created troubles for companies in areas such as private equity, which are struggling at times to sell boom-time pre-Arab Spring investments for a profit.
No comments:
Post a Comment