Professional Documents
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ISSUE I
Dear Reader,
The tensions in the Arab world are escalating not without touching the local as well
as international financial markets.
This issue will provide you with the news on financial losses in the MENA states as
the outcome of the turmoil. Also, it reflects the uncertainties in global market and
the attempts of financial actors to find economic solutions in the face of current
challenges in the region.
Meanwhile Tom Stevenson, the editor from The Telegraph in his article entitled
‘Japan Could Emerge Stronger from this Catastrophic Quake’ telling us about
another economic impact on the global market caused by last week’s earthquake in
Japan.
If you have any news you would like to include in future issues please contact me. I
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ARAB FINANCIAL FORUM NEWSLETTER MARCH 2011. ISSUE I
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IN BRIEF
OPEC oil output rose nearly 30m
Unrest costs Middle East, North barrels per day in Feb – Platts
Africa markets $90 bln – Markaz
March 11, 2011
March 9, 2011
OPEC's crude oil production output jumped to
The Middle East and North Africa markets an average 29.8 million barrels per day (b/d) in
have lost nearly $90 billion year-to-date, February, as Saudi Arabia continued to boost
mostly due to rising tension in Libya, production, according to a new Platts survey.
according to analysts at Kuwait Financial
Centre (Markaz), who expect the upward Read more
pressure on oil prices could seriously threaten
the global economic recovery. Egypt: Arab League to Launch
First Global Real Estate Bourse
March 10, 2011
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UAE sees no capital outflows due
to unrest -Central Bank Read more
The United Arab Emirates has not seen Algeria to Supply Gas to
capital outflows due to unrest in the region, Morocco
the central bank governor said on Thursday,
adding that inflationary pressures would not March 1, 2011
be of concern despite high oil prices.
Algeria said Tuesday it was ready to supply
Morocco with gas from the southern Hasi Al-
Raml field.
Read more
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ARAB FINANCIAL FORUM NEWSLETTER MARCH 2011. ISSUE I
HSBC provides $435m for new In the short term, the impact on the Japanese
economy will be negative, in part due to
Saudi steel plant physical damage to infrastructure and capital
stock and because of the psychological trauma
13 March 2011
suffered by the Japanese, which is likely to
trigger risk aversion.
HSBC Middle East said on Sunday it had
signed a $435m deal to finance a steel plant
Further out, the rebuilding effort will probably
and rolling mill in Jubail, Saudi Arabia to be
stimulate the economy via construction and
run by a unit of petrochemical giant SABIC.
other capital spending. The net impact on GDP
might be positive, not least because the Bank of
Japan quickly made it clear it will provide
whatever liquidity is required. With the
earthquake striking so close to the end of the
trading week in Tokyo, the full stock market
impact will not become apparent until
tomorrow morning. The 1.7pc fall in the Nikkei
on Friday was as much a knock-on from
Thursday's poor showing on Wall Street as a
reaction to the unfolding disaster.
http://www.arabfinancialforum.org/