November 20, 2012
Tourism in Egypt is suffering again after violence in Gaza and the Sinai. The industry was slowly starting to recover after the revolution which saw President Mubarak ousted from power in 2011, but many fear a protracted conflict across the border will be bad for business.
Spinneys workers elected their union’s first leaders after a long and bitter struggle with management, particularly company CEO Michael Wright, who resorted to all means of pressure to undermine the union campaign.
November 19, 2012
For citizens of a country that imports 98 per cent of its energy needs, the notion of personal energy independence may seem like a far-fetched futuristic fantasy, but it might be time to consider such a move after the government cancelled fuel subsidies.
At one of Cairo's luxurious Nile side hotels, in a lavish ballroom, around a hundred Egyptian Salafists, including some of their top religious scholars, gathered to launch their Salafist movement's first business association.
A single Gulf Cooperation Council (GCC) entry visa will help boost the number of tourists in the region and will reinvigorate tourism as a sector, a study submitted to GCC officials has found.
Teachers are continuing with industrial action in Jordan after the government introduced a range of austerity measures, including the highly controversial increase in the cost of cooking gas and fuel.
Iranian oil output rose in October after seven months of decline due to Western sanctions and its exports rebounded strongly as China and South Korea bought more oil, the West’ energy watchdog said.
The US will overtake Saudi Arabia and Russia as the world’s top oil producer by 2017, the West’s energy agency said, predicting Washington will come very close to achieving a previously unthinkable energy self-sufficiency.
November 18, 2012
Lebanon's economy has had a tough year. The Syrian conflict has hit the country hard, public sector workers held stikes over pay increases, and a bombing in Beirut have all taken their tole, but growth should remain, albeit at a lower 2% rate.
The long-awaited International Monetary Fund loan to Egypt still rests behind a smokescreen, not helped by secretive government officials who are refusing to discuss the details of the deal, so what is it really about?
Jordan's Prime Minister Ensour has said that the decision to increase the cost of fuel and cooking gas as aprt of a wide ranging austerity drive is a necessary medicine that the Kingdom must take if the economy is still to regain health.
The Saudi Ministry of Labour will address private business concerns over the fees charged to companies for expatriate workers if their numbers exceed those of Saudi employees
The International Monetary Fund has said that it is ready to offer advice and assistance to the North African country that is still beset by economic woes after the revolution that removed President Ben Ali from power.
Uncertainties are weighing heavily on Arab economies and structural reform is, more than ever, needed to avert falling into a vicious cycle of economic deterioration and unrest.
November 15, 2012
Latin America's growing trade relations with the Gulf countries shielded it from the worst of the economic recession which pummelled their traditional trading partners, a top official said.