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January 22, 2013

The Egyptian pound continues to slide against the dollar as investors hope the IMF deal will shore up the currency
08:22 GMT
The Egyptian pound continued its downward trend on Monday after hitting another record low in the wake of a Sunday currency auction held by the Central Bank of Egypt (CBE).
As Jordanian head to the polls tomorrow, candidates economic policies all share the same ideas
08:06 GMT
As Jordan heads to the polls tomorrow, facing a worsening economy, almost all candidates share the same approach for the economic and financial woes fo the Kingdom.

January 21, 2013

Demand for Opec crude will average 29.07 mbpd in the first half of 2013
12:48 GMT
OPEC is predicting that demand for its crude in 2013 will be lower due to higher supply from rival producers, indicating inventories could build up substantially even after a cut in output by top exporter Saudi Arabia.
Despite many general slogans, the report concluded that some lists do provide coherent plans to address economic challenges
12:30 GMT
As Jordanians prepare to go to the polls on Wednesday, candidates knowledge of the economy could hurt the Kingdom as it faces a weakening economy and prepares for a loan agreement with the International Monetary Fund.
The number of tourists that visited Lebanon in 2012 fell more than 17 percent from 2011 and 37 percent below the levels recorded in 2010
11:56 GMT
Though no major foreign investors have definitively pulled out of Lebanon’s embattled hospitality sector in 2013, at least two hotel chains have put construction on hold and others are shrinking existing operations in anticipation of the rocky period ahead.
Exports to Kuwait at 17 per cent to Dh17.2 billion; and to Bahrain 11 per cent to Dh3.4 billion
10:35 GMT
The Dubai to GCC export market has shot up, rising by by 51 per cent in 2012, with Saudi Arabia proving to be the biggest net importer of goods from the Emirate.
The UAE operating environment is likely to remain subdued in 2013
08:17 GMT
The UAE's banking industry looks set to remain profitable, despite weaker asset growth, according to ratings agency Fitch.
According to NBK, oil prices will average $100 per barrel over the forecast horizon – a level that allows most GCC governments to finance higher spending without draining their financial reserves
07:17 GMT
GCC economic growth is set to slow to 3.6 per cent in 2013 from 5.4 per cent in 2012 as the three-year surge in regional oil production comes to an end, a new report claims.

January 20, 2013

OPEC s spare capacity reaching six million bpd by 2015 the highest since the late 1980s
12:14 GMT
As the Algerian hostage situation played out, increasing fears over security at installations across the region, oil prices spiked, helped by fresh worries over Saudi Arabian oil output came to the fore.
One veteran television journalist who is an expert on the history of Al Jazeera said 42,000 prime-time viewers is nothing in a country which has a population that has more than 300 million
11:38 GMT
Al Jazzera's buy-up of Current TV to try and crack the highly competitive US media market has left many people asking just one questions - Why?
Experts predict $4.3 trillion worth of construction projects across the Mena region over the next decade
08:08 GMT
The construction industry in the Middle East is often cited as one that is particularly poor for the environment, but what will 2013 hold? Wil the industry clean up its act?
Lebanese banks should place 15 percent of their deposits in Lebanese pounds at an account at the Central Bank
08:03 GMT
As the Lebanese economy continues to struggle in the face of the civil war across the border in Syria, the Central Bank has ordered commercial operations to inject much needed liquidity into the market.
A recent economic report noted that unemployment in 2011 stood at 16 percent in Arab countries where 17 million people out of 300 million are jobless
07:56 GMT
The challenges of the economies of 'Arab Spring' nations continue to dominate the news and should feature highly on the discussion at an economic summit in Saudi Arabia starting tomorrow, according the the Saudi Foreign Minister.

January 17, 2013

Economists do not expect a significant decrease of imports due to the recent devaluations
12:10 GMT
Economies around the globe have often benefitted from devaluing their currency, but experts fear that Egypt's currency plan will leave the country still floundering.
Lebanon’s craft beer brand, 961, started exporting to the U.S. last week
11:57 GMT
Beirut's best beer has headed to the US to try and woo punters in an increasingly crowded microbrewery market.