Featured Articles

December 20, 2012

Oman is set to introduce tough new Islamic finance rules
12:19 GMT
Oman is introducing strict new Islamic banking regulations in the Sultanate.
Beirut-based BUTEC Company is to take the energy ministry to court
06:41 GMT
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.
Dubai and Abu Dhabi are facing different real estate futures
05:44 GMT
Despite being close neighbours, Abu Dhabi and Dubai face very different futures in the world of real estate.
The Egyptian economy is looking set to face a difficult 2013
03:00 GMT
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

Saudi Arabi is introducing a new system to try and increase employment in the Kingdom
13:39 GMT
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.
No farewell just yet: Disagreements lead to delay of the GCC replacement, the Gulf Union
11:39 GMT
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 government is planning a seriers of short-term initiatives to boost the struggling economy
10:18 GMT
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 looking healthy
07:40 GMT
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.
Oui! French Development Agency has loaned Egypt $57 million in 2012
07:29 GMT
The French Development Agency (FDA) has contributed €430mn to the Egyptian economy in 2012, the highest since the beginning of its mandate in Egypt.
Investors are targeting Iraqi and Libyan oil
06:59 GMT
It has been a volatile year for the oil and gas industry but new developments in the industry are pointing to positive news for 2013 for Iraq and Libya, both in the phases of their oil industries.

December 18, 2012

Saudi Arabia's oil minister has said he think demand and oil supply are stable
11:45 GMT
Global oil supplies are plentiful and demand is good, while buyers and sellers are happy with current prices, top exporter Saudi Arabia’s oil minister Ali Al-Naimi said on Tuesday.
The IMF describes the Moroccan banking sector as 'resilient'
11:31 GMT
The International Monetary Fund finished a tour of the North African country today, reporting that the country has "sound economic fundamentals" with particular praise for the banking sector.
Retailers in Lebanon have faced a tough year
11:04 GMT
Beirut has had a tough year, with a sharp decline in tourism and an acute economic slowdown
Jordan has implemented a raft of austerity measures to please the IMF, including reducing fuel subsidies
07:56 GMT
Delegates from the International Monetary Fund (IMF) are currently in Jordan and they are satisfied with the Kingdom’s economic reforms, despite continuing fears for the ailing economy.
The US has formally asked Egypt to delay the IMF loan
07:09 GMT
The US government has formally asked the Egyptian government to delay the $4.8 billion loan from the International Monetary Fund, after Egypt failed to raise taxes on certain goods, in line with the IMF prescription.