Arab Banks Invest $2.8 Billion in Infrastructure, Agriculture and Hospitality

UPDATE 1-Gulf investors launch $2.8 bln in new Islamic firms
Reuters - USA
By John Irish DUBAI, Aug 27 (Reuters) - Three Gulf Arab banks will launch a specialised bank to finance infrastructure projects, an agriculture firm and a hospitality fund as rapid growth in the Middle East and North Africa lures billions in new investment. ...The ambitious plans, the latest in a string of multi-billion-dollar projects, come as a five-fold rise in oil prices since 2002 fuels breakneck growth in the energy exporting nations of the Gulf, Middle East and North Africa. ...