August 28, 2012
Egypt seeks to sign a free trade agreement with Russia and increase its exports to the country that has recently become the 156th member of the World Trade Organisation (WTO).
Saudi Aramco is back on line and operational. This past Sunday, Saudi Aramco announced that all workstations had removed the virus and everything was back to normal.
August 27, 2012
IMF approval of Egypt's request for nearly $5 billion in aid would come as a vital boon to its reeling economy but President Mohamed Morsi must at the same time enact tough reforms, analysts say.
Now, the GCC is looking to continue its efforts by spending some $252 billion over the next five years to increase energy production.
The sudden increase in the number of digital media companies offering social media, internet marketing and cloud computing solutions in the GCC is creating an unprecedented demand for highly specialised IT professionals.
August 26, 2012
With the financial world on the edge of its seat waiting to hear the words of Fed chairman Ben Bernanke from Jackson Hole this coming Friday this is not the time to be buying equities. It would be pure speculation and not an investment.
The report noted that the Lebanese economy recorded a slowdown in its general activity in the first half of 2012, as compared to the same period of the last year.
In less than two months after assuming office, Egypt’s President Muhammad Mursi decided to face up to the country’s mounting economic problems head on by first placing a request for a loan from the International Monetary Fund (IMF).
August 23, 2012
Gold will extend a bull run as emerging-market central banks and investors accumulate the metal to protect against weakening currencies.
Majority of the residents in MENA region have either maintained or improved upon their financial status in the past 12 months, with more positive sentiments for the year to come, according to a survey.
Explorers will very likely find substantial quantities of natural gas and possibly oil off the Lebanese coast, according to a top executive at a Norwegian company carrying out the first 3-D seismic survey of Lebanon's offshore deposits.
August 22, 2012
In Kuwait, respondents forecast a better financial climate and economy, with improved business conditions and more jobs available.
Moody's Investors Service says Oman's A1 foreign and local currency government bond ratings and stable outlook balances its considerable financial strength against long-term structural economic challenges.
GCC investors have shown increasing interest in the UAE, the second biggest Arab economy, purchasing 32 percent more properties in 2011 than in 2010.
August 20, 2012
The resignation of Arab Bank Chairman Abdel Hamid Shoman signals the end of an era for the family that controlled and managed one of the Middle East’s largest financial institutions for over 80 years.