June/July 2009 - Past Issues - emeafinance Magazine - emeafinance - Europe • Middle East • Africa - Three regions

emeafinance Magazine: June/July 2009

Searching for Alpha

Iraq’s government is trying to persuade western banks and companies to put billions into the country’s battered economy. The opportunities are great, but so are the risks, reports Julian Evans.

Invest AD marks shift in strategy for SWFs

The re-launch of Abu Dhabi Investment Company (ADIC) as Invest AD, an asset manager for third-party funds, marks an interesting shift in strategy for the region’s sovereign wealth funds.

Nils Melngailis was brought in by the Latvian government in December to try and rebuild Parex Bank, after it was nationalised in November. He epitomises the country’s stoic resolve to start again after the worst crisis in the country’s short history.

Ahmadinejad landslide prompts angry protests in Iran

While it was not inconceivable that Iran’s incumbent president, Mahmood Ahmadinejad, would win the presidential election there in June, the extent of his victory has raised eyebrows, and tempers, both in Iran and abroad.

Beirut rises from the rubble, again

Lebanon has faced four years of violence, civil strife, assassinations and war. And yet its economy and banking sector grow stronger each year, reports Julian Evans from Beirut.

Slow liberalisation in neighbouring Syria

Lebanon’s destiny has often been closely interwoven with that of its larger neighbour, Syria. Indeed, for 15 years, from the end of the civil war until 2005, the Syrian government would simply hand over to the Lebanese prime minister a list of which ministers it wanted in the Lebanese government, according to some reports.

He came, he spoke. He conquered?

President Obama’s speech in Cairo University in early June has been hailed as a milestone in the US’s relations with the Middle East. Here, we present edited highlights of the speech, and some reactions to it in the west, Israel, and the Muslim world.

Investors climb aboard Tadawul

In August 2008, the Saudi Arabian stock market finally opened up to foreign investors. After a slow start, volumes are now tripling monthly, and investment banks are racing into the country to position themselves in the new market.

Picking up the pieces

African states and banks have provided Zimbabwe with more than US$1bn in trade credit lines. Support from regional bodies has provided a much-needed injection of cash, but in the absence of long-term financing or western loan packages, the country is still far from recovery, writes Shannon Manders.