Buoyancy and optimism are not words readily associated with Iraq, but there is a feeling this summer could mark a turning point in the country’s fortunes with major developments involving land, sea and air.
The IMF is slating 8 percent growth in 2008. More than three-quarters of business owners expect the economy to significantly grow over [...]

When Cominvest, the asset management unit of Germany’s second largest bank, Commerzbank, prepared to open its first foreign branch, it considered Saudi Arabia, Bahrain and Qatar, finally settling on Dubai.
“Our parent company, Commerzbank, has been in Beirut for more than 50 years and Bahrain for more than 30 years but we chose Dubai,” says Cominvest [...]

For Gulf states and other Middle Eastern oil producers, this is an era of opportunity. Record global oil prices have earned oil-producing nations record revenues, offering an unprecedented chance for the region to implement reforms and build for the future.
Of course, the biggest winners are the behemoth [...]