Economic Updates

Ghana seeks to ride out challenges

Ghana | 18 Aug 2014
Ghana seeks to ride out challenges

Having been among the continent’s fastest-growing economies on the back of an oil-fuelled boom, Ghana has cut its growth target for this year and revised its forecast for inflation and budget deficit upwards as a result of slowing commodity revenues and high current spending.

South African railways getting back on track

South Africa | 15 Aug 2014
South African railways getting back on track

Investments in South Africa’s rail services are set to pick up pace thanks to new orders in rolling stock and locomotives, with local service and materials suppliers expected to benefit from a swathe of new projects.

New opportunities open for Islamic banking in Bahrain

Bahrain | 15 Aug 2014
New opportunities open for Islamic banking in Bahrain

With a strong and well established financial services sector, Bahrain’s role in expanding the global reach of sharia-compliant financing looks set to broaden further through three developments firmed up in July. Two new partnerships were announced last month that will expand the number of Islamic Financial Services (IFS) institutions in the kingdom, while an agency already active in the sector is furthering its work to globalise the industry.

Kuwait builds momentum in construction

Kuwait | 13 Aug 2014
Kuwait builds momentum in construction

Kuwait is seeing significant activity in its construction sector this year, with contracts worth $17.5bn already signed or on offer. There are also a number of large-scale projects already underway and at the stage of moving from the drawing-board to the development stage, adding further momentum. However, raw material supplies, including cement, are in short supply and could cause delays and cost increases.

Investing in innovation in Brunei Darussalam

Brunei Darussalam | 13 Aug 2014
Investing in innovation in Brunei Darussalam

Brunei Darussalam has lost ground in its efforts to promote innovation as a cornerstone for future economic and social development, slipping down the ladder of a comparative survey of innovative practices for the second year running, but the sultanate is positioning itself to rebound strongly in the years to come.

Oman’s tourism industry poised for boom

Oman | 12 Aug 2014
Oman’s tourism industry poised for boom

Sustained growth in Oman’s tourism industry is expected on the back of rising interest in the destination together with favourable economic conditions driving up disposable income and improved connectivity.

Disminuye la Inversión Extranjera Directa en el Perú

Peru | 12 Aug 2014
Disminuye la Inversión Extranjera Directa en el Perú

Entre los años 2012 y 2013, el Perú experimentó un descenso significativo de la Inversión Extranjera Directa (IED), tendencia que se espera continúe al menos hasta el año 2014. La caída registrada por los precios de los metales es la principal responsable de la disminución de la IED, la cual está afectando principalmente al sector minero.