December 23, 2012
The UAE, on average, produced 2.65 million barrels per day (bpd) of oil in November, 0.75 per cent lower than its output in October, latest data from the Paris-based International Energy Agency (IEA) showed, but there are plans to increase output.
Saudi prince's crumbling production company awaiting liquidation before staff will get a penny.
Chinese car makers are gaining a foothold in the Lebanese market despite the stigma, as economic conditions toughen and the majority of customers move to cheaper, more fuel-efficient cars.
Residents of the GCC are starting to increase personal savings, although many people in the region fear that despite putting more money aside, they don't feel they will have enough for the future.
Jordan's Prime Minister Abdullah Ensour has said that direct cash support to ease the effect of lifting fuel subsidies could be stopped if prices of crude oil drop below $100 per barrel.
December 20, 2012
A U.S. proposal on the boundary separating the Lebanese and Israeli maritime economic zones is presently under consideration by both countries and if accepted could end a lingering dispute over rival claims.
Yemen's construction industry is in turmoil, with one million workers losing their jobs in the industry because, according to the General Union for Yemeni Contractors, the government is not paying up.
Oman is introducing strict new Islamic banking regulations in the Sultanate.
Beirut-based BUTEC Company intends to file a lawsuit against the Energy Ministry for what it terms a violation of an earlier agreement to allow its Spanish partner company to build a power plant in Deir Ammar near Tripoli.
Despite being close neighbours, Abu Dhabi and Dubai face very different futures in the world of real estate.
The Egyptian Pound (LE) is under severe pressure and will continue to drop in value after the postponement of the International Monetary Fund (IMF) $4.8 billion loan, a new report by investment bank EFG-Hermes says.
December 19, 2012
With the news that unemployment is on the rise in Saudi Arabia, the Kingdom has launched a system to improve the policy of 'Saudization', which actively promotes natives over foreign-born workers.
The plan for a new 'Gulf Union', which would supersede the existing GCC and bring member states even closer together, is facing delays a member-states disagree
Lebanon's economy has had a tough year, with bombings, a Gulf tourist boycott and the Syrian civil war all adding pressure to the downturn. But the government is planning to take a series of short-term measures in an effort to shore-up the ailing economy.
The retail industry in the GCC is set to thrive due to increasing purchasing power, growing expatriate population, changing lifestyle and an expanding tourism and hospitality industry, said an expert.