middle east

Bankers everywhere feel they are operating in a tough environment, but those working in Syria have perhaps the most difficult working environment on the planet. Even so, they are still making money.

Hans-Peter Borgh is appointed chief commercial officer for Asia and Middle East at ABN Amro Private Banking.

David Eldon emerges from retirement to become non-executive director and chairman of HSBC Bank in the Middle East.

Standard Chartered invests $75 million of mezzanine capital from its private equity arm into Gulf retail store operator Jawad Business Group, signalling an increasing focus on the region.

Singapore-based Sean Wallace takes over as head of origination and client coverage following Vis Shankar's move to Dubai to become a director of the Standard Chartered board.

Indian telecom company Bharti Airtel signs definitive agreements to buy the African operations of Zain, in a deal backed by $7.5 billion in debt financing provided by a host of banks led by Standard Chartered and Barclays.

Asia appears relatively immune from DubaiÆs debt problems, while Dubai World says less than half the amount of debt initially believed to be affected is included under the standstill agreement.

Middle East investors provide the UK bank with more cash, but the high cost of the $11.4 billion capital injection raises questions about whether government funding would have been preferable.

The Ras Al Khaimah government, in the UAE, looks to growth in India and China to fuel its efforts to create a minerals and metals investment area.