September 27, 2012
Egyptian one-pound notes still represent legal tender, regardless of their recent replacement with metal coins.
Jordan and Qatar on Wednesday signed a framework memo to regulate the disbursement of the Gulf country’s $1.25 billion grant to the Kingdom and discussed projects suggested to be funded under the donation.
Gas extraction off the coast of Lebanon could be almost worthless if the Eurozone crisis continue to roll on, a leading expert had claimed.
Egyptian President Mohammed Mursi will visit the UAE within weeks. The President, fresh from his speech at the UN General Assembly, will discuss UAE investment and the economic situation in Egypt.
The Iranian oil ministry denied statements made by the U.S. Treasury Department that there were military links to its energy sector.
Jordan's Prime Minister, Fayez Tarawneh, has said that unemployment is one of the major challenges facing the Arab world.
September 26, 2012
Reuters are predicting that Egypt is unlikely to meet its growth target of four per cent, as the new Morsi-lead government is putting the final touches to an economic reform programme that it hopes will please the IMF, enabling a financing package of the so-called 'Bretton Woods' institution.
Bids for the proposed Kuwaiti Metro system are likely to be accepted by the end of the year. Work is expected to start in 2013 and be completed in 2020.
The cost of fuel in Lebanon decreased on Wednesday, although it is expected to rise again as tensions simmer over Iran's nuclear ambitions.
Workers employed by the Greater Amman Municipality (GAM) staged a sit-in protest to demand higher wages and better living conditions on Tuesday.
Egyptian stocks roared firmly into the green on Tuesday as President Morsi's visit to the US signalled a calming of recent tensions with Washington and officials in Cairo talked of ambitious new development projects to kickstart the troubled economy.
Bahrain's economy signalled that is is improving, with GDP expected to grow at 4-5 per cent in 2012. Human rights abuses remain in the Kingdom however, and the pivotal trade unions could become vocal again.
Oil and gas pipelines in Shabwa, Yemen,were attacked on Tuesday, the Oils and Minerals ministry confirmed. Attacks are common in the country, leading to billions of US Dollars in lost revenue.
Tunisia's ousted former president, Zine El Abidine Ben Ali, had assets totalling more than $13billion, a government commission has found, although more assets are could be uncovered.
The banking sector in the UAE remains cautious over lending, after the 2008 financial crisis that hit the Emirate. Credit to the government expanded by nearly AED9 billion in the first four months of 2012.