Clearday-TRForce
08-05-2006, 04:05 AM
With the Israel-Lebanon conflict, Turkey becomes more attractive for Middle East investors
LONDON - Reuters
Turkey looks set to attract increasing amounts of Gulf petrodollars in coming years, the Israel-Lebanon conflict having underlined the persistent security concerns associated with the Middle East.
The conflict with Israel, which has killed hundreds of people and destroyed Lebanese infrastructure worth billions of dollars, may have turned the focus of Arab investors, attracted to the political stability, well developed financial markets and fast growing economy, toward Turkey.
The process started some time ago, but analysts say the conflict may speed up the process.
The flows are hard to track, mainly because Gulf investors are keen to avoid the impression they are pulling cash from Lebanon at a time when the country is at its most helpless. Also, much of the money already in Lebanon is tied up in real estate and cannot be liquidated easily.
The World Bank estimates the six countries in the Gulf Cooperation Council saw revenues from oil more than double to $365 billion in 2005 from $154 billion in 2002.
regards,
CDTRF
LONDON - Reuters
Turkey looks set to attract increasing amounts of Gulf petrodollars in coming years, the Israel-Lebanon conflict having underlined the persistent security concerns associated with the Middle East.
The conflict with Israel, which has killed hundreds of people and destroyed Lebanese infrastructure worth billions of dollars, may have turned the focus of Arab investors, attracted to the political stability, well developed financial markets and fast growing economy, toward Turkey.
The process started some time ago, but analysts say the conflict may speed up the process.
The flows are hard to track, mainly because Gulf investors are keen to avoid the impression they are pulling cash from Lebanon at a time when the country is at its most helpless. Also, much of the money already in Lebanon is tied up in real estate and cannot be liquidated easily.
The World Bank estimates the six countries in the Gulf Cooperation Council saw revenues from oil more than double to $365 billion in 2005 from $154 billion in 2002.
regards,
CDTRF