World Bank expects a GDP growth of 4.6 % 

According to the World Bank’s Global Economic Prospect 2010, Algeria will see an increase in GDP growth from 2.1% in 2009 up to 4.6 % in 2010 and is estimated to level off around 4.1% in 2011 and 4.3% in 2012.Those countries in the Middle East and North African region which focused their economies on growth strategies like making it easier to do business or making spending more efficient are expected to do well in the near future. 

Algeria’s focus on the non-oil sector stressing monetary easing and fiscal stimulus helped the country to water down the impact of the global economic crisis. 

In general, the World Bank’s Global Economic Prospect 2010 predicts the recovery of the Middle East and North African region from the downs of the global economic crisis.

Significant logistics agreement with the city of Nuremberg 

The General Organisation of Sea Ports (GOP) of the Kingdom of Bahrain promulgated the signing of a logistics agreement with the City of Nuremberg. 

The Memorandum of Understanding is intended to promote mutual cooperation and bilateral exchange of information and technology. Both countries want to improve logistical relations and, therefore, provide marketing support for logistic companies to gain access to the German and Middle Eastern markets. Infrastructural, scientific and technological organisations and institutions are also part of the Memorandum of Understanding as both, the Kingdom of Bahrain and Germany, want to develop the cooperation between the two countries in these fields as well.

Rise in foreign reserves to USD 35.1 bn in May 

A recent Egyptian Central Bank (CBE) report states a rise by USD 450 000 in foreign currency reserves to USD 35.1 billion in May, up from USD 34.65 billion one month earlier. Despite the global financial crisis, Egyptian banking and monetary systems remained relatively stable, inter alia due to the CBE's conservative management of its foreign reserves. The Egyptian currency, the pound, rose against the euro by 14 % in recent months, while weakening against the US dollar by 16-17 %. Concerning the overall balance of payments, a surplus of USD 3.1 billion in the nine months ending March was recorded, mainly constituted by the improvement of tourism indicators as well as rising revenues from exports workers. 

The strongest performing city in the world 

According to business reports, Cairo delivered the strongest performance in prime office rentals on a global scale in 2009. High regional demand, increasing rate of prime commercial product and a fast growing population were all contributing and relevant factors for Cairo’s impressive performance. The strong real estate market consequently led to an increasing investor sentiment in Egypt which is supported by a Real Estate Investor Sentiment Survey released by Jones Lang LaSalle in 2010, which estimated Egypt to be the second strongest market within then region behind Saudi Arabia. A report by Global Insight 2010 predicts Egypt to have the strongest economy in MENA over 2011-2012 with great potential on the global real estate market.

Plans to establish joint investment bank with Iraq and Turkey 

In connection with the establishment of an industrial town in the Iranian city and Turkey plan to set up a joint investment bank. A related agreement has now been endorsed by officials of all involved sides. According to Vahid Jalalzadeh, Governor-General of Iran's northwestern province of West Azarbaijan, the most important goals pursued by the joint industrial border town are increased investment, prosperity of the region and the transfer of technical and engineering know-how and technology. This project can be situated within a general strengthening of Turkish-Iranian cooperation in the fields of economy, security and trade.

Iraqi Oil Export rose by 9.7% 

According to recent reports by the Iraqi oil ministry, the countries export rate rose by 9.7% in May, making it the first increase in the last three months. In April, daily shipments were at about 1.77 million barrels as compared to 1.89 in May, monthly barrels rose from 53 million to 58.7 million barrels. 

Iraq becomes new destination for investors in the hospitality and aviation sectors 

Iraq has become the new target for investors in the hospitality and aviation sectors who are keen on accessing new territories. In the next five years, the Iraqi hospitality sector is expected to see an influx of USD 145 bn. Two projects have already been announced, the first by Abu Dhabi-based Rotana Hotels and Resorts to build a luxury property in Baghdad by 2012, the second by the German airline Lufthansa who is planning on carrying out flights to the Iraqi capital from September on.