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July 6, 2015
Potential Investment Opportunities in GCC
KEY QUESTION 1: Can you explain the market growth in the GCC region? The GCC countries have been doing a lot better than both the developed and the emerging markets. The governments in the GCC region have been using oil revenues to develop various industries such as aviation, infrastructure, retail, health and education and thereby spurring strong growth in non-oil sectors. The success of GCC airlines at the global level stands testimony to this. Emirates Airways, Qatar Airways and Etihad...
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June 21, 2015
Affordable housing in the GCC-Scale of the problem
Amongst a handful of regions with bright economic indicators, the GCC is projected to grow at 3.8% in 2016 according to the IMF. The region, which is highly reliant on oil and gas, is now hedging its bets by diversifying into non-hydrocarbon sectors. (Read: Marmore’s report on “Affordable Housing”). Despite its richness, the issue of affordable housing is yet to be addressed thoroughly. What is the scale of this crisis? KEY QUESTION 1: Why is there a housing problem? You...
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June 17, 2015
Telecom Charges in the GCC-Are they too high?
What is the structure of the telecom market in the GCC? How has it changed over the years? The telecom market in the GCC has one of the highest penetration rates in the world with 170% mobile penetration and 77% internet penetration. The large number is attributable to ever rising population in the region and increasing number of expatriates. The number of subscribers grew from 87.97 million in June 2014 and is expected to reach 100 million by 2020. There...
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June 11, 2015
GCC: Sukuk – Key questions?
KEY QUESTION 1: What are Basel III norms and why are they important for application in Islamic Banking? The Basel III norms were introduced after the 2008 crisis to make the banking system more robust. Under the norms, banks shall hold 6% of Tier-I capital and 2% of Tier II capital. Tier I capital includes 4.5% of common equity and 1.5% of additional Tier-I capital which includes preferred stock and hybrid securities. Basel III norms are mandatory for all banks,...
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June 7, 2015
Japanese Interest in Islamic Banking: Key Questions
Islamic banking derives its basis from the principles laid down in Sharia and unlike conventional finance prohibits payment of and charging of interest. It has caught the attention of the global financial services and banking industry. The growth in Sharia-compliant products and services has happened over the years as financial institutions took their time to understand the principles, and design products and services that comply with those principles. Modern banks started offering sharia-compliant products around mid-1970s. Japan, once an economic...
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June 2, 2015
The rise & rise of GCC Airlines
Here are FOUR questions that you would like to ask about the GCC airline industry. We provide the answers. #1. How well in recent years has the aviation sector in GCC region grown? There is only one word for it, “tremendously.” The two figures below tell you the story of growth; the first is country specific and the second is aircraft specific. Figure 1- Passengers carried by registered air carriers in the UAE and Qatar Source – World Bank...
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May 21, 2015
KSA Obesity: Key Questions
There has been a welcome surge in the economic prosperity of the Kingdom of Saudi Arabia (KSA). With prosperity, socio-cultural and lifestyle changes have emerged. This is like a curator’s egg, good in parts. The disturbing part is the increased incidence of a dangerous medical condition, namely obesity. Once considered a Western phenomenon, it is now very much an Arabic problem: it hurts people medically, and the kingdom financially. “Obesity” and “Diabetes” are close cousins. Type-2 diabetes, a...
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May 18, 2015
GCC Print vs Digital Media
GCC: Print media still running strong… The whiff of the early morning coffee has always romanced the fresh crispy fragrance of the newspaper. The winds of change are perhaps beginning to blow. The surprising fact is that while the preference and demand for print media has steadily been declining over the years in America and Europe, it has been on the rise in the GCC. According to a Marmore report on GCC Media, the circulation of newspaper in the Middle...
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May 7, 2015
GCC: The debate between private & public schools
Did you know that GCC citizens prefer to send their children to public schools? A good reason for that is the low cost of education in these schools. But times are changing. With the winds of globalization now blowing, parents in the GCC are slowly but surely beginning to vote for private schools. Private schools provide the environment for kids to develop employable skills. Most of these schools offer an international curriculum that is well accepted in top universities...
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March 30, 2015
Importance of South Asian Markets in UAE Aviation Industry
The aviation industry in UAE contributes roughly 12% to the country’s economy, reflecting the country’s huge investment in airports and airlines. The aviation industry is a USD 39.4 billion (Dh 145 billion) industry, contributing 28% to Dubai’s GDP. The industry provides 250,000 jobs in Dubai and supports 14% of the workforce in UAE. International Air Transport Association (IATA) has predicted that the UAE will be the second fastest growth market for international passenger traffic from 2009 to 2014, second only...