December 20, 2012
Oman is introducing strict new Islamic banking regulations in the Sultanate.
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.
Despite being close neighbours, Abu Dhabi and Dubai face very different futures in the world of real estate.
The Egyptian Pound (LE) is under severe pressure and will continue to drop in value after the postponement of the International Monetary Fund (IMF) $4.8 billion loan, a new report by investment bank EFG-Hermes says.
December 19, 2012
With the news that unemployment is on the rise in Saudi Arabia, the Kingdom has launched a system to improve the policy of 'Saudization', which actively promotes natives over foreign-born workers.
The plan for a new 'Gulf Union', which would supersede the existing GCC and bring member states even closer together, is facing delays a member-states disagree
Lebanon's economy has had a tough year, with bombings, a Gulf tourist boycott and the Syrian civil war all adding pressure to the downturn. But the government is planning to take a series of short-term measures in an effort to shore-up the ailing economy.
The retail industry in the GCC is set to thrive due to increasing purchasing power, growing expatriate population, changing lifestyle and an expanding tourism and hospitality industry, said an expert.
The French Development Agency (FDA) has contributed €430mn to the Egyptian economy in 2012, the highest since the beginning of its mandate in Egypt.
It has been a volatile year for the oil and gas industry but new developments in the industry are pointing to positive news for 2013 for Iraq and Libya, both in the phases of their oil industries.
December 18, 2012
Global oil supplies are plentiful and demand is good, while buyers and sellers are happy with current prices, top exporter Saudi Arabia’s oil minister Ali Al-Naimi said on Tuesday.
The International Monetary Fund finished a tour of the North African country today, reporting that the country has "sound economic fundamentals" with particular praise for the banking sector.
Beirut has had a tough year, with a sharp decline in tourism and an acute economic slowdown
Delegates from the International Monetary Fund (IMF) are currently in Jordan and they are satisfied with the Kingdom’s economic reforms, despite continuing fears for the ailing economy.
The US government has formally asked the Egyptian government to delay the $4.8 billion loan from the International Monetary Fund, after Egypt failed to raise taxes on certain goods, in line with the IMF prescription.