October 7, 2012
Profits at Arab banks are looking ser to reach a net profit of $38 billion by the end of 2012 financial year, registering a three per cent increase from 2011.
As the fallout of the rial currency crisis continues in Iran, the US has accused the Islamic Republic of jamming US-sponsored broadcasts in the GCC and the Middle East.
Investment in oil in the MENA region is expected to top $740 billion over the next five years, lead by Saudi Arabia.
Thousands of workers at a Foxconn plant in China have reportedly been on strike over working conditions. The plant where the iPhone is made has struggled with labour rights and has seen a spate of suicides over recent years, along with allegations of the mistreatment of staff.
The construction industry in Lebanon is struggling, as part of a wider economy that is being buffeted by the Eurozone and the overspilling of the Syrian conflict, shown by cement deliveries slowing down.
The IMF has claimed that the budget surplus being run by Saudi Arabia is decline before dropping into deficit have been rebuffed by the Saudi Kingdom as a "doomsday scenario"
Christine Legarde has sung the praises of Gulf arab countries and their management of oil prices and reserves at a conference with senior GCC officials.
Kuwait has transfered $250 million to the Central Bank of Jordan (CBJ), as the first tranche of GCC support for the Kingdom this year.
October 4, 2012
The Tunisian government has announced that in their push to boost the 3G and mobile markets, they will break up the country’s fixed-line monopoly to promote diversification and competition.
The Central Bank of Kuwait has taken measures to increase liquidity in the banking sector as inflationary pressures remain.
New Islamic banks set up in Oman will struggle initially to compete with established conventional banks offering Sharia-compliant services when the country opens up its banking market, said an international rating agency in a statement
The economy of Palestine took another blow on Thursday as the Quantity of Industrial Production Index (IPI) registered a decrease of 6.25 per cent in manufacturing output.
As the sluggish growth of the Chinese and US economies mixed with the Eurozone and Middle East tensions attest, the global economy is facing another six years of turmoil, according the IMF.
A top level Spanish delegation headed by Prime Minister Mariano Rajoy held talks with Moroccan officials in Rabat on Wednesday. Despite their historic political differences, the two countries
As the Iranian economy falters with the rial nosediving to record levels against the dollar, and protests erupting in the capital Tehran, U.S. Secretary of State Hillary Clinton has said that that sanctions on Iran could be " remedied in short order" if the Republic works sincerely to deal with its alleged nuclear programme.