Search Results for: Saudi Arabian

PAINT manufacturers have been expecting a major boost to business following the economic stimulus and infrastructure investment projects launched by Gulf governments over the past few years. But projects have not materialised to the degree expected, and while the USD2.26 billion Gulf paint and coating market is still flourishing, it is not meeting expectations.…

PAINT manufacturers have been expecting a major boost to business following the economic stimulus and infrastructure investment projects launched by Gulf governments over the past few years. But projects have not materialised to the degree expected, and while the USD2.26 billion Gulf paint and coating market is still flourishing, it is not meeting expectations.…

THE HIGHLY diverse and emerging markets of the Middle East, North Africa, and South Asia (MENASA) face major challenges in bringing financial services, accounting and auditing up to international standards. They are often lacking qualified professionals and sometimes overly reliant on expatriate expertise.…

AUSTRALIAN beef exporters are nervous about a decision by the Russian government – confirmed directly to globalmeatnews.com – that it is planning to lift the existing ban on imports of US beef. It has been banned since this February (2013), with the official reason being the use of beta agonists in US beef production – and since then, Australian exports of high-end (chilled, not frozen) high value beef exports to Russia over the last 10 months have soared.…

Given its location, political actors and recent history, Lebanon has long been under the international regulatory spotlight. The US Treasury’s fingering of the Lebanese Canadian Bank in 2011 for money laundering concerns rocked its financial sector. Beirut has since been scrambling to address any short-comings, while at the same time dealing with sanctions on neighbouring Syria.…

One of the world’s largest antimony metal and tri-oxide manufacturing facilities, with a 20,000 tonnes per annum capacity, is to open in Oman. At an estimated investment cost of USD60 million, London-listed integrated antimony development company Tri-Star Resources has entered into a joint venture with the Oman Investment Fund (OIF), the Arabian Gulf country’s sovereign wealth fund, and Dubai Transport Company affiliate Castell Investments Ltd to build and operate the antimony roasting facility.…

While Syria is mired in its bloody civil war, it remains targeted by multilateral sanctions. But despite being essentially cut off from the international banking system, Damascus is evading these sanctions by using Russian banks, and is being financially propped up by Iran.…

PAKISTAN meat sector executives believe their export sector is underperforming, failing especially to seize sales in affluent international halal markets.

With an estimated annual output of 2.2 million tonnes, Pakistan is the 19^th largest producer of meat in the world.…

ANTI-CORRUPTION campaigners Transparency International have criticised sustained cuts in the UK’s Serious Fraud Office’s (SFO) budget after the SFO lost 3% of the evidence from a high profile corruption investigation.

“A strong and well-resourced SFO is critical to the fight against corporate bribery,” said Robert Barrington, executive director of Transparency International UK, after the SFO admitted losing data from its investigation into defence contractor BAE Systems over alleged bribery in winning a massive defence contract from Saudi Arabia.…

ISLAMIC banks are big business in the Middle East and Southeast Asia, but not thus far in sub-Saharan Africa. The World Bank’s International Finance Corporation (IFC), however, recently took a USD5 million, 15% equity stake in Kenya’s Gulf African Bank (GAB) to support corporate finance and lending to small and medium businesses – its first in the sub-Saharan Islamic bank sector.…