January 22, 2013
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 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
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.
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.
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.
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's banking industry looks set to remain profitable, despite weaker asset growth, according to ratings agency Fitch.
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
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.
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?
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?
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.
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
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.
Beirut's best beer has headed to the US to try and woo punters in an increasingly crowded microbrewery market.