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April 25, 2013

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.
The U.S. is expected to produce an estimated 230 million tons of gas over the next decade
09:46 GMT
Lebanese offshore gas may not produce a big windfall for the country's beleaguered economy as it enters a changing energy market.
UAE central bank chief urges oil exporters to diversify more
09:40 GMT
UAE Central Bank Governor Sultan Bin Nasser Al Suwaidi said oil-exporting nations in the region must adjust their policies in response to lower global demand and an anticipated decline in commodity prices.
Emirates still had on order 73 777 wide-body aircraft valued at $23 billion — six were 777 freighters and 67 of the largest 777, the -300ER
09:19 GMT
The six nations in the GCC are expected to becoming the hub for global air travel, according to a new report.

April 22, 2013

Farm owners hit out at gov’t over recruitment ban
12:33 GMT
Following Jordan's crackdown on migrant workers in the country, farm workers are demanding better wages.
The updated database foresees the capacity reaching 191.2 million tonnes by 2020
12:06 GMT
The GCC petrochemicals and chemicals capacity is forecast to soar 50 per cent by 2020, latest figures suggest.
Recent price inflation was largely driven by broad-based increases in food and non-food prices
11:58 GMT
According to new poll, 82 percent of Egyptian consumers believe recent spate of inflation will affect their lifestyles and spending habits.
Moroccan hackers attack sites in Oman
09:56 GMT
Oman was targeted by Moroccan hackers on Sunday, according to the head of Google's MENA enterprise partner.