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February 14, 2013

Most analysts now see demand growth of 0.9 to 1.0 mbpd in 2013
10:55 GMT
Kuwait's budget surplus could be in the rabge of KD11.9 billion to KD14.4 billion ($42 billion to $50.9 billion) for the current fiscal year backed by high oil revenue.
Lebanon World Bank provides $30 mln for startup firms
09:19 GMT
In the first step toward creating an estimated $72 million equity fund that would be the largest source of venture capital for Lebanese startups, the World Bank signed a $30 million loan agreement with the Finance Ministry Wednesday.
Demonstrators in Arida blocked the international highway around 8 a.m., bringing traffic to a standstill on the road leading to the border crossing
08:05 GMT
Protesters blocked roads Wednesday in the northern Lebanon border towns, preventing tanker trucks from transporting diesel into Syria, as protesters claim the fuel is being used by the regime to halt the uprising.
Oil and gas transactions totalled a staggering $402 billion in 2012
07:57 GMT
With an average of over four transactions announced globally every day in 2012, the oil and gas sector has remained one of the most active sectors for mergers and acquisitions.

February 13, 2013

More than 267,000 guest workers of different nationalities work in the Kingdom illegally, 65 per cent of whom are Egyptians
12:23 GMT
Experts in Jordan discussed the problems that undocumented workers in Jordan face yesterday, including the inability to ensuring fair pay and working conditions.
The construction industry across the Gulf is looking positive and things are picking up quite nicely in Bahrain
11:07 GMT
The construction industry in the GGC region could face skills shortage in the near future, according to an industry expert.
The shortages come at a time when the government is keen to reduce fuel subsidies
11:05 GMT
The state appears caught between acute diesel shortages and planned reductions of energy subsidies, upon which a proposed $4.8 bn IMF loan is conditional.
Ministry denies exporting fuel to Syria from refineries
08:39 GMT
Lebanon’s Energy and Water Ministry denied claims yesterday that kerosene or red diesel was being exported to Syria from refineries in Tripoli and Zahrani.
Reducing expenditures cannot logically entail a wage increase for civil servants
08:03 GMT
For the first time in 12 years, Lebanon will post a primary deficit of around $460 million in 2012, raising the total budget deficit to around 10 percent of GDP.
In the UAE only 9 per cent of Emiratis surveyed were unemployed
07:52 GMT
GCC countries still have a long way to go to create a sustainable job creation engine for their local populations, although some progress has been made in recent years, according to a new study.

February 12, 2013

The media should not be subject to any form of censorship to allow it to act out its role properly
12:40 GMT
After last years controversial press law, which some critics say amounts to censorship especially of online media, several MPs in Jordan are calling for the law to be amended.
Egypt's government is trying to integrate to so-called 'grey economy' into the formal sector
12:32 GMT
With the Egyptian economy deteriorating and job opportunities in short supply, many Egyptians are trying to cover their expenses through the massive grey economy, which operates outside the tax system and most government regulation.
Egypt's decision to block access to video sharing site YouTube has angered activists
12:15 GMT
The decision by an Egyptian court to ban YouTube in the country for one month due to its continued hosting of an anti-Islamic film has attracted harsh criticism from human rights organisations, online activists, and disgruntled users of the video-sharing website.
Qatar public debt second largest in GCC
11:54 GMT
Despite enormous oil wealth, Qatar's public debt as ratio to GDP, is the second largest in the GCC region, new figures show.
Traders fear Syria oil exports violate sanctions
09:10 GMT
Close to 1,000 tons of fuel are flowing each day from Lebanon to Syria as local traders worry about Lebanon becoming entangled by international sanctions against its warn-torn neighbour.