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April 29, 2013

SMEs in UAE need more funding support
08:41 GMT
SMEs in the UAE have said they need more support, especially in gaining access to much needed credit lines.
The only law on commercial fraud in practice in the country was drafted in 1979
08:24 GMT
The UAE will step up efforts to fight fraud and trade in fake goods, with unscrupulous traders facing up to two years in jail, and a fine, according to a new draft law.
Opec dropped individual allocations in 2011 when it adopted a 30-mbpd output target
08:11 GMT
Oil-rich Libya is pushing for a bigger role in OPEC as it seeks to rejuvenate its hydrocarbon sector following the revolution that ousted Muammar Gaddafi.

April 28, 2013

QNB Group has said the IMF's predications for the MENA region are too optimistic
11:40 GMT
QNB Group, Qatar's first commercial bank, has said that it thinks that the IMF's predictions for MENA economies is too optimistic and the trend of downward revisions to forecasts is likely to continue.
The UAe is hoping to be able to slash prices for Ramadan by 30 per cent
11:17 GMT
The UAE's Ministry of Economy is hoping to bring about a 30 per cent price slash on Ramadan-related commodities once the Holy month begins in July.
Egypt's fuel subsidy changes are not stalling the long-awaited IMF deal, according to the country's petroleum minister
10:49 GMT
Egypt's fuel subsidy reform programme is moving ahead on schedule and is not the reason why a deal with the International Monetary Fund (IMF) has stalled, Minister of Petroleum Osama Kamal has said.

April 25, 2013

Egypt's economy to struggle two years on from the revolution which ousted former president Hosni Mubarak
12:41 GMT
As the Egyptian economy continues to struggle after two years of political instability after the January 25 Revolution, unemployment in the beleaguered nation is only set to get worse.
Halawi Exchange
09:53 GMT
Two Lebanese currency exchange firms accused of money laundering by the United States Treasury Department have vehemently denied the allegations, saying they were considering legal action to clear their names.
In Q1 2013, 98 deals were announced against 101 deals last year, a decline of 3 percent
09:42 GMT
Merger and Acquisitions in the MENA region are booming, registering a 100 per cent increase in the first quarter of 2013.

April 24, 2013

Tunisia has run a large current account deficit since 2011
10:01 GMT
Fitch Ratings said the $1.75 billion stand-by arrangement (SBA) agreed by the Tunisian authorities and IMF staff will provide the crucial support for the economy.
In order to reach the initially identified deeper targets, oil and gas companies would have needed to drill about 6-7 km deep
09:41 GMT
Fresh analysis of offshore seismic surveys of Lebanon are showing that tapping into Lebanon’s gas wealth might be easier than first thought, experts have said.
IMF believes subsidy reform is a way for the government to focus on more meaningful ways to help the most vulnerable in society and spend more on other key utilities
09:25 GMT
The International Monetary Fund (IMF) released a report showing that Middle East and North Africa (MENA) governments spend $236.7bn in energy subsidies, which is 50% of the $480.6bn total energy subsidies bill footed by governments worldwide.

April 23, 2013

IMF has held meetings with leading political leaders and parties such as the Nour and Wafd Parties
11:56 GMT
Egypt's deal with the IMF is long-running and seemingly never ending, but is no news good news?
The next 10 years will be a crucial turning for Qatar’s transition into a highly progressive metropolis
11:43 GMT
Qatar plans to fund at least $70 billion worth of domestic transport projects, with the rail and metro network claiming more than $35 billion in the next ten years.
Six out of ten of the Saudi national respondents said they are putting less than 10 percent of their monthly salaries into savings
11:43 GMT
The majority of Saudi nationals save less than 10 percent of their monthly income, according to a new survey.