03.08.2010 - Gulf investment banks in crisis, need to innovate
From Tradearabia.com: Local Gulf investment banks and brokers are being forced to seek new business areas to replace traditional sources of income hit by the downturn and as global heavyweights muscle in, raising the possibility of mergers. The Gulf's sharp fall in real estate values and drying up of initial public offerings (IPOs) - staples for local investment banks - and competition from global players such HSBC is pushing them into niches, such as infrastructure funding and foreign exchange, to survive..............................................Full Article: Source
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