Money matters bulletin

Regional stock market indices Regional currency rates Saudi spending spree launches new lending Saudi lenders are entering what a recently released Goldman Sachs  report called a “virtuous banking cycle,” as lending is due to be boosted by the country’s plans to increase infrastructure spending by more than 50 percent over the next five years, in addition to low consumer finance penetration, new legislation and attractive demographics. The report illustrated that this stimulus program will also lead to robust Saudi economic growth. Moreover, Goldman Sachs initiated coverage on Samba Financial Group, Saudi British Bank, Banque Saudi Fransi, and Arab National Bank with “buy” recommendations, and started with a “neutral” recommendation on Al Rajhi Bank and Riyad Bank. Jordan Gate set for early 2011 completion Bahrain-based Gulf Finance House (GFH) stated in early September 2010 that its Jordan Gate development project in Amman would be completed early next year. The news came