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December 24, 2012

Americans consume roughly 18.5 million barrels of oil daily, a mere $8 increase in the price per barrel would sap $1 billion per week from the U.S
10:51 GMT
The last twelve months were characterised by the ramping up of propaganda by Israel and Iran over the possibility of a war, reaching the climax with the 'BiBi Bomb', but would would be the cost of any war in 2013?
China is driving the demand of GCC-region goods as exports increase
09:01 GMT
Exports from the GCC countries to China rose to $7.1 billion in October from a yearly low of $4.9 billion in August, marking a 45.6 per cent increase in just one quarter, a report said.
One construction worker dies every five dies in Jordan
08:00 GMT
New figures from Jordan show that constructions workers are dying at the rate of one every five days, causing the government's Social Security Corporation (SSC) department to launch a health and safety campaign.
GCC states helped billions of dollars flow out of the country illegally between 2001 and 2010
03:00 GMT
More than US$400bn of illicit cash flowed out of the six GCC countries between 2001 and 2010, according to a report by a global financial watchdog.

December 23, 2012

It found that about 50 per cent of Internet users aged between 15 and 24 years use the web as their main source of information
11:24 GMT
The internet is changing the media industry the world over, from the rise of so-called 'citizen journalists' to newspapers struggling to get consumers to pay for what they can often get for free online, but what is the future for the media in Jordan?
The growth of PE investment in MENA is expected to be driven by funds that target healthcare, education, infrastructure, oil & gas services and consumer-focused industries
11:24 GMT
Saudi Arabia and Egypt are poised to become Mena region’s most attractive private equity destinations according to regional experts, driven by funds targeting healthcare, education, infrastructure, oil & gas services and consumer-focused industries.
The emirate of Abu Dhabi produces more than 90 per cent of the UAE’s crude oil output, the bulk of which is exported
11:13 GMT
The UAE, on average, produced 2.65 million barrels per day (bpd) of oil in November, 0.75 per cent lower than its output in October, latest data from the Paris-based International Energy Agency (IEA) showed, but there are plans to increase output.
Penny pincher.
08:41 GMT
Saudi prince's crumbling production company awaiting liquidation before staff will get a penny.
Chinese manufactured cars are gaining a foothold in the Lebanese automotive industry
08:40 GMT
Chinese car makers are gaining a foothold in the Lebanese market despite the stigma, as economic conditions toughen and the majority of customers move to cheaper, more fuel-efficient cars.
GCC residents fear they are not saving enough for the future
07:53 GMT
Residents of the GCC are starting to increase personal savings, although many people in the region fear that despite putting more money aside, they don't feel they will have enough for the future.
Jordan imports 96 per cent of its energy needs and reduced fuel subsidies in November to save money
03:00 GMT
Jordan's Prime Minister Abdullah Ensour has said that direct cash support to ease the effect of lifting fuel subsidies could be stopped if prices of crude oil drop below $100 per barrel.

December 20, 2012

The US has proposed a deal on Lebanon's maritime economic borders with Israel
12:41 GMT
A U.S. proposal on the boundary separating the Lebanese and Israeli maritime economic zones is presently under consideration by both countries and if accepted could end a lingering dispute over rival claims.
The Yemeni construction industry is in dire straights as workers complain that the government has not paid for projects
12:29 GMT
Yemen's construction industry is in turmoil, with one million workers losing their jobs in the industry because, according to the General Union for Yemeni Contractors, the government is not paying up.
Oman is set to introduce tough new Islamic finance rules
12:19 GMT
Oman is introducing strict new Islamic banking regulations in the Sultanate.
Beirut-based BUTEC Company is to take the energy ministry to court
06:41 GMT
Beirut-based BUTEC Company intends to file a lawsuit against the Energy Ministry for what it terms a violation of an earlier agreement to allow its Spanish partner company to build a power plant in Deir Ammar near Tripoli.