Dealing with the dollar

If the financial world was asked to sum up 2008 in just two words, I’m sure you’d end up with a number of different options. In the Middle East, you would probably need a few more words. By David French.

Differing ambitions for centres

More than other regions, for companies serious about doing business in the Gulf it is vital to have a presence on the ground. By Solomon Teague.

Sharia profit rate swaps

The market for Sharia-compliant derivatives products is at a fascinating juncture. By Priya Uberoi, senior associate, derivatives and structured finance, and Nick Evans, trainee solicitor, derivatives and structured finance, Allen & Overy.

Loan market gets tough

The global capital markets crisis caught up with the Middle East in September. Ouida Taaffe reports on the impact this will have on the loan market.

PF to focus on fewer deals

The project finance market in the Middle East is now likely to slow a little in terms of deal flow. New sectors are emerging, however, to replace those that have slowed and dollar volumes are likely to hold up. By Rod Morrison.

ECAs can lead liquidity search

Export credit agencies, once the stalwarts of international project finance, are expected to re-emerge as the search for liquidity in the capital markets intensifies into 2009. The aims and ambitions of each agency have therefore become important sources of study. By Rod Morrison.

ME first half league tables

Kayan – Orchestrating funding sources

The Saudi Kayan story is a tale that is as interesting as it is long. By Laurent Devin and Antoine Gustin, BNP Paribas, and Nicholas Wong and Edmund Boyo, Clifford Chance.

Setting a high benchmark

How the JAC project secured a competitive construction-phase refinancing. By Jonathan Robinson, director and head of project and export finance, HSBC Saudi Arabia, and Andrew Treble, director, HSBC Saudi Arabia.

Green shoots for PPP model

The concession-based model for infrastructure has had little traction in the Gulf region – aside from the power sector. But this is slowly changing, with a handful of deals in the market. So the question is now: How big could this market become? By Rod Morrison.

TAQA tops in finding finance

When it comes to raising finance, no one has done it more this year that the Abu Dhabi National Energy Company – TAQA for short. By David French.

Bright spot for ECM sector

As equity capital markets around the world languish, the Middle East has proved an isolated bright spot since the start of the year with a steady flow of high-volume deals. By Christopher Vellacott.

Keeping it in the family

In August 2007, H.H. Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, issued Federal Law No 10 for 2007, amending the Federal Law for 1984 on commercial companies. By Andrew Tarbuck, Partner, Corporate Finance, Norton Rose (Middle East) LLP.

Up, up and away

Sukuk issuance has grown at an exponential rate, with the total global outstanding jumping by more than 100% since 2006. William Thornhill reports.

Tranching of risk and Shariah

One of the hottest topics in Islamic finance is the tranching issue and its acceptability by the different Shariah schools and scholars. By Iad Boustany, general manager, and Kamal Assi, associate – capital markets group, BSEC.

Sukuk – Back to the future

The rate of growth of the sukuk market has slowed: which is hardly surprising in these credit crunch times. By Rahail Ali, Global Head of Islamic Finance, and Imran Mufti, Counsel, Lovells, Dubai.

Sorouh says ar-riba-derci

Concerns have been raised over the Shariah-compliance of many Islamic securities. Sorouh’s Dh4.016bn issue is the sector's best example yet of how to wave goodbye to riba when borrowing. By Mark Kolmar.

Tamweel – Safe as houses

As Tamweel’s asset base breaks the symbolic US$10bn barrier, how is the now-established mortgage-market leader supporting its growth, and what does the future of its market hold? By Mark Kolmar.

DEWA aims for the future

DEWA has undertaken the largest true sale securitisation in the MENA region. By Debashis Dey, partner and head of capital markets Middle East, and Daniel Holder, senior associate, Clifford Chance LLP.