November 28, 2012
Lebanon’s biggest bank, Bank Audi, will launch operations in Iraq next year and rival Byblos Bank is to enter the Libyan market as both contend with a flagging domestic economy.
Saudi Arabia's non-oil economy is expected to witness robust growth of 7.5 per cent in 2012 on the back of continued high government expenditure and increased domestic demand, said a new report.
Oman's total budget expenditure for financial year 2013 has been estimated at 29 per cent higher than the announced budget expenditure for 2012, and around 12 per cent higher than the amended budget expenditure for this year.
November 27, 2012
Analysis of recently completed seismic data by top multinational companies showed that Lebanon's gas wealth could exceed that of Israel, CEO of Lebanon's upstream oil and gas company Petroleb has said in an interview.
The United Arab Emirates and the Ukraine have signed a range of agreements on Monday aimed at boosting bilateral trade agreements, as the Presidents sought to increase their relationship in areas of trade and tourism.
The ratings agency Standards and Poor have upgraded Abu Dhabi's rating, to just under the highest possible score, highlighting the stability tat the Emirate is viewed with, as the agency also announces that is believes Abu Dhabi is “among the wealthiest economies in the world”
Egypt's President Morsi had previously said that he would cancel farmers outstanding debt below LE10,000 ($1,666). However, two months later, the farmers said the debt cancellations are only being applied to non-performing – i.e. delinquent –loans.
In the latest form of human trafficking to come to light, expatriates in Oman are being smuggled by 'agents' to UAE, from where they return to their home countries by taking advantage of an amnesty scheme announced by the UAE government.
Medical tourism in Dubai is looking set to increase after an announcement that overseas patients who wish to seek treatment in Dubai will be able to avail of a three-month medical tourist visa, extendible twice — up to nine consecutive months
November 26, 2012
The Jordanian Cabinet has approved a set of recommendations that seek to achieve social and economic development in Qatraneh District, 100km south of Amman, in an effort to improve one of the Kingdom's most deprived areas.
The Gulf Cooperation Council (GCC) has said that it is in a better place for reform in the new Middle East after the 'Arab Spring'. A leading figures in the organisation says that it is time to grab the opportunity for reform , but is it all just hot air from the hot region?
Fears are growing of a a new SARs-like virus that has been found in Saudia Arabia and Qatar, with only sixth reported deaths so far. Should a pandemic occur, this could cause more than a headache for the region's businesses as staff fall ill.
For a stabile global financial system, green development and sustainable economic development is the only way forward to create a viable economy that is safe for future generations.
The Saudi government cold be sitting pretty with its latest efforts at 'Saudization', as it attempts to fulfil its promise to create more jobs for local workers and will see a huge increase in revenue from fines levied at firms employ migrant workers.
With 191 countries and the European Union as members, the Kyoto Protocol is the only global treaty with binding limits on climate-altering greenhouse gases, and there are fears that the Doha talks are the last opportunity to find a suitable replacement.