The UAE will account for 86% of all investment in the region's tourism sector by 2018, according to RNCOS, a UAE tourism research company.

The report, released Monday (September 13th), predicted that the volume of UAE investments in tourism related construction projects will be approximately $234 billion over the next eight years.

UAE investments in tourism will be more than 14 times the value of investments in Oman, its closest competitor. UAE investment will also outpace Qatar, Bahrain, Saudi Arabia and Kuwait.

Overall debt of Gulf companies to exceed $200 billion by late 2012

Moody's, a credit ratings agency, estimated in a report published Thursday (September 16th) that Gulf companies are carrying about $212 billion in total debt, of which 28% is short-term debt owed by the end of 2012.

Gulf companies that are not rated by the agency have about $67 billion in debt while rated companies hold the remaining $145 billion.

The Moody's report says that these unrated companies may seek to issue conventional or Islamic bonds or structured-finance instruments to extend the maturity date on their existing debt. If they do issue new bonds or other investments, these companies should be able to seek an updated credit rating.

"The proportion of bank debt for unrated companies is high, which Moody's believes makes them more likely to pursue debt funding as an alternative," it said.

Demand for housing to rise in Saudi Arabia

The Kuwait Financial Centre reported Tuesday (September 14th) that demand for housing in Saudi Arabia will rise, and 1.5 million new housing units will be needed by 2015. Studies indicate there will be a shortage of between 500,000 and two million prefabricated housing units in 2012.

Saudi Arabia, the largest Arab economy, will require about $320 billion during the next 10 years to meet the deficit it faces in housing units, estimated at around 200,000 units per year, mostly for individuals in the middle class or those earning a fixed income.

Qatar banking sector grows by 11.7%

The Qatar Stock Exchange said Tuesday (September 14th) that the banking sector indicator grew about 11.7% during the past two months, and the majority of shares in the sector experienced varied growth during the period.

The Commercial Bank led the field, with its shares rising by an average of 22%. The bank recorded a profit of $3.8 per share. The price per share rose to $21.42 compared with $17.57 at the end of the July 4th session.

The National Bank stock ranked third in the sector, gaining $4.11 per share or 11.3% with shares reaching $40.37. Doha Bank recorded gains amounting to 10.1% as shares reached $13.4 each.

Al-Ahli Bank led declining stocks with a loss of 7.89% or the equivalent of $1.2 per share while the Gulf Bank recorded losses of 2.38%, bringing its price to $4.28 per share.

Egypt attracts $6.8 billion in foreign investment

Preliminary statements issued by the Central Bank of Egypt on Tuesday (September 14th) indicated that the Egyptian economy attracted $6 billion in direct foreign investments during fiscal year 2009-2010.

The establishment of new companies and the increase in the capital of existing companies accounted for $2.7 billion of direct foreign investment. This represents about 40% of the total compared with 28% during fiscal year 2008-2009.

The total value of direct foreign investment in Egypt from July 2004 to June 2009 was $49.2 billion.