Kamco, the Kuwait-based investment manager and research house, has published some excellent reports on the performance of GCC capital markets during 2108. Our Editor has summarised the key point with some tables, and provides links to the original reports for those who would like more details.
Riyad Salamé Re-Appointed as Governor of Central Bank of Lebanon
Earlier this year there was speculation that Salamé would not be renewed as part of wider changes in the Lebanese government that followed the appointment of Michel Aoun as President in October 2016, breaking a two and a half year deadlock when Lebanon had been without a President or government.
However, Salamé is known to have the trust of the US financial authorities, and when it appeared that the US might be planning to tighten the pressure on Hizbollah's funding sources (and, as a result, increase the pressure on Lebanese banks to show that they are not involved in funding Hizbollah), his re-appointment appeared more likely.
Salamé was brought back to Lebanon in 1993 by Rafik Harriri. Salamé had been working for Merrill Lynch in Paris and had got to know Harriri.
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APICORP, the Dammam-based energy investment bank, is predicting oil prices of around $60-70/b during 2019, but, in an excellent overview of market conditions, warns that many different factors will play a role in setting actual prices.
The Directors and staff of the Arab Bankers Association send best wishes for 2019 to our members and their families.
Haytham Kamhiyah has been appointed CEO of Europe Arab Bank, the London-based subsidiary of Jordan's Arab Bank.