Main headlines

January 31, 2013

The IMF urged Lebanon for greater reforms in a meeting with the finance minister in Washington
08:28 GMT

The International Monetary Fund called on Lebanon to implement deeper reforms as Finance Minister Mohammad Safadi met U.S. officials in Washington Wednesday.

Eygpt's foreign reserves have risen to $15.5 billion, helped by Qatari support, according the the country's finance minister
08:21 GMT

Eygpt's foreign reserves have risen to $15.5 billion, helped by a deposit by Qatar to support the economy, the North African country’s finance minister said.

Egypt's finance minister has said  negotiations over a $4.8 billion IMF loan are currently on a government review and 'social dialogue'.
03:57 GMT

Egypt's finance minister has said negotiations over a $4.8 billion IMF loan are currently on a government review and 'social dialogue'.

January 30, 2013

Egypt has its sovereign rating cut owing to political instability
19:36 GMT

Egypt's sovereign rating has been downgrade by Fitch.

Money from the Gulf has gone toward providing medical services to Syrian refugees.
10:53 GMT

Announcing the funding, UAE Crown Prince Sheikh Mohammed bin Zayed Al Nahyan said the UAE was committed to providing relief for Syrian refugees in neighboring countries.

The barracks was originally built in the 1860s to house British troops.
10:20 GMT

The oil-rich state has placed the £3bn Chelsea Barracks housing development on hold and may even sell the land without starting construction a source close to the matter states.

Dubai FDI targets to attract, grow and retain foreign direct investment.
09:41 GMT

Dubai FDI targets to attract, grow and retain foreign direct investment into Dubai.

The resignation comes amid a management shake-up aimed at improving the company’s performance.
09:33 GMT

The chief executive of Saudi Arabia’s National Commercial Bank, one of the Arab world’s largest lenders by assets, has resigned.

Marwan Hayek, CEO of Alfa. (Image courtesy of Alfa)
09:09 GMT

The Cabinet agreed Tuesday to extend the operation licenses of touch and Alfa mobile companies for a maximum of one month to pave the way for a new tender.

Jordan is set to sell bonds for the first time in two years.
09:02 GMT

The country is struggling to cope with a rising energy bill, a massive influx of Syrian refugees and a huge cut in foreign aid.

Mehr news reported on Tuesday that BP had been dumping byproducts in the sea.
08:44 GMT

Iran said it could move to sue BP over an oil spill last year at the Azeri-Chirag-Gunashli oil platform it operates after oil from the spill washed up on Iranian beaches

A rising energy bill does not bode well for the Kingdom, which has seen protests over fuel price increases in recent months.
08:13 GMT

At the end of November last year, the country’s total exports recorded a drop by 1.7 per cent.

The main EGX30 index fell 2.01 per cent to sit at 5,495 points. Its gains since the beginning of the year dropped to just 0.6 per cent.
05:29 GMT

Egyptian stock market falls with another day of violent clashes.

January 29, 2013

World tourist numbers cross the one billion mark for the first time, according the a United Nations agency
12:58 GMT

International tourist arrivals surpassed one billion for the first time last year, with the Asia-Pacific region posting the biggest increase in foreign visitors, and numbers will rise further in 2013, a UN body said Tuesday.

Qatar is set to is set to issue riyal denominated government bonds, according to Reuters
12:33 GMT

Qatar plans to issue local currency sovereign bonds with three and five-year maturities in 2013, reported Reuters, citing an IMF official.