SAUDI ARABIA. A correction in the stock market failed to have a major impact on Saudi Arabia's economic performance last year. A report by the Kuwait-based Global Investment House (Global) on Saudi Arabia's economic and strategic outlook, said that the Kingdom's economy was in fact exceptionally sound and robust in 2006.
INTERNATIONAL. New research from PwC projects that traditional assets under management (AuM) in 12 markets across Africa will rise to around US$1,098 billion by 2020, from a 2008 total of US$293 billion.
UAE. Egis acquires 51% of Projacs, the leading project and construction management firm in the Middle East. This transaction represents a new stepping stone for the development of both Egis and Projacs.