Featured Articles

December 2, 2012

Smartphone markets in the Middle East are booming
08:35 GMT
Smartphone markets in the Middle East are on the rise, with the new Apple iPhone 5 and Windows Phone 8 expected to get the lions' share of an ever increasingly competitive market.
Libya has gifted Tunisia a multi-million dollar finance package in a deal being hailed as an era of new relations between the two nations
08:02 GMT
Tunisia has just received a 200-million dinar ($127 million) development package from Libya, which is being used to help cover Tunisia's budget deficit but the move has caused some criticism in Tripoli.
Top Bankers has urged the Lebanese government to take action over the economy
07:18 GMT
A leading banker in Lebanon has called for action to restore the confidence of investors in the region, as the country is buffeted from the Eurozone and the Syrian civil-war.

November 29, 2012

The OECD has downgrading its forecast for the global economy in 2013
12:18 GMT
The Organisation for Economic Co-operation and Development (OECD) has downgraded its global growth forecast, as fears remain over the US Fiscal Cliff, the Eurozone, Middle East tensions and a slowdown in the Chinese economy
The transaction is being funded from existing operating cash flow and credit lines
11:30 GMT
Abu Dhabi National Energy Company (Taqa) announced on Wednesday that it has agreed to buy oil and gas assest in the North Sea from BP, in a deal worth $1 billion.
The new programme aims to reduce the budget deficit to 10.4 per cent for the current fiscal year
11:20 GMT
Egyptian Prime Minister Hisham Qandil has finally announced the economic reform package for the embattled country, which is required by the International Monetary Fund to secure a $4.8billion loan.
Lebanon's Euroband auctions have been hit my violence in Syria and Gaza
09:42 GMT
The volatile situation in Syria and the sudden war on Gaza made Lebanon’s last Eurobond issue less appealing to Arab and foreign investors despite the Finance Ministry’s success in securing $1.525 billion of this bond.
Lebanon’s Central Bank Governor, Riad Salameh, is expected to announce a stimulus package
03:00 GMT
Lebanon’s Central Bank is putting a stimulus package in place to boost its bruised economy, which has taken a hit by its troubled neighbour Syria
Telecom revenue in the MENA region is set to boom
03:00 GMT
Telecoms revenue in the Mena region is expected to grow by 27 per cent, at a compound annual growth rate (CAGR) of 5 per cent, over the next five years to hit $96.4 billion in 2017 from $70.3 billion in 2011, a report said.

November 28, 2012

The staff of the state employees fund also announced their adherence to the two-day strike in a separate statement
11:21 GMT
Lebanon is on strike mode for the second day, with protests planned across the country. The strikers are hoping to force the government to agree to pay increases, in a long-running debacle that has seen public sector workers take industrial action several times.
The political situation in Egypt would not delay the approval process
11:07 GMT
Egyptian President Morsi could have jeopardised the $4.4 billion loan that has been agreed between cairo and the International Monetary Fund. Concern is mounting that increased volatility in the economy or political instability could see the deal delayed.
The government organisations are establishing local brands to support the economy
11:07 GMT
The United Arab Emirates is set to launch a new scheme aimed at promoting products that are "Proudly made in the UAE", and it will put in place a general policy to improve national products and their quality.
Banks in Lebanon are looking to expand abroad
06:34 GMT
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's non-oil economy set for robust growth
03:00 GMT
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.
The 2013 Oman budget is set to be much higher than it was in 2012
03:00 GMT
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.