Major infrastructure projects in the Gulf continue to progress without being affected by the financial crisis, according to Hyder Consulting. A senior company official said that the company is working on infrastructure projects worth billions within the region.
AROUND 36 PER cent of Iraqis say economic issues - unemployment (21 per cent) or financial insecurity (15 per cent) - are the biggest problems they face today. This compares to 16 per cent who believe security problems are their greatest difficulty.
Having posted a loss of US$13.7mn in 2008, the National Bank of Fujairah (NBF) was recently able to announce much better news: a net profit of US$28.4mn in 2009.
Jordan?s economy is expected to grow 3.9 per cent this year and 4.5 per cent in 2011, according to a World Bank report.
ABU DHABI'S GROSS domestic product (GDP) is expected to expand up to six per cent on year in 2009, a top government official said recently. "It will be single-digit growth this year, between four per cent to six per cent," Nasser Al Suwaidi, Chairman of Abu Dhabi's Department of Economic Development, told reporters on the sidelines of the Korea-Abu Dhabi Investment Roadshow 2009. Abu Dhabi's economy is estimated to have grown at least 17 per cent in 2008 on the back of record-high global oil prices.
Alain Charles Middle East FZ-LLC
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