Persian Gulf countries are studying a $10 billion plan to extend the length of a 2,177-kilometer (1,353-mile) rail line between Kuwait and Oman by 60 percent in order to link it to Yemen in the south of the Arabian peninsula.
Doha Bank QSC, Qatar’s fifth-largest lender by assets, aims to triple profit from overseas to as much as 30 percent of net income by 2015 as trade and investment between Persian Gulf states and Asia increase.
After Egypt’s 2011 revolution, the U.S. was at pains to emphasize to Egypt’s new leaders the value of the rule of law. So it has been discomfiting to watch the Barack Obama administration ignore it since the July 3 overthrow of elected President Mohamed Mursi.
The promotion of democracy and free markets are central elements of U.S. foreign policy. They are the reason the U.S. bars aid to governments that seize power in a coup, and why President Barack Obama’s decision to cut aid to Egypt is the right one.
Duet Mena Ltd. and Algebra Capital Ltd., Dubai-based managers of $500 million, said they may buy Islamic bonds from Malaysia’s Cagamas Bhd. , the first under a new structure that complies with the Persian Gulf’s stricter religious laws.
Raffy Vital Gimeno started sending part of his pay to his family in the Philippines after getting a job in Qatar in 2008. Now his wife and sister are also working in the Middle East state and they’re all remitting money home.
The city pulsed to a beat it hadn’t felt for decades as it welcomed its new president. Intellectuals met at private political salons for open, lively discussions of topics they had only dared to mention in whispers before: demands for greater democracy, the suspension of emergency law, an end to the ruling party’s domination.