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December 6, 2011

Lebanon and Iraq are poised to provide economic corridors for their crisis-hit neighbor without explicitly breaching the restrictions, experts say
09:34 GMT
“Lebanon and Iraq could turn into Syria’s lungs, as it were, allowing it to breathe under the sanctions,” said Lahcen Achy, economic analyst at the Carnegie Middle East Centre.

December 5, 2011

Describing the situation in the border area as "normal", Majali stressed that although displaced Syrians are trickling into the Kingdom by the dozens, the situation is nowhere near a "humanitarian crisis" requiring intervention
10:27 GMT
There is "no possibility" decision makers in Amman will consider establishing a buffer zone along the northern border to offer protection to displaced Syrians, said the Minister of State for Media Affairs and Communications Rakan Majali.
Gulf Co-operation Council (GCC) comprising Oman, United Arab Emirates, Qatar, Saudi Arabia, Bahrain and Kuwait continue to exclude personal income from tax other than those taxable as business income
08:09 GMT
Less than 15 percent of 96 countries from around the world recorded any change in personal income tax rates, and not even a single G-20 member reported a change to its top personal income tax rate.
According to recent statistics by ADTA, visitor arrivals reached 182,553 in October, up 21 percent year on year
07:23 GMT
The number of tourists reached two million by the end of October and tourism revenues increased to $111 million in the first 10 months, The Abu Dhabi Tourism Authority (ADTA) said earlier.

December 4, 2011

A further Dh3.4 billion worth of cereals were imported while Dh1.5 billion in coffee, tea and spices made their way into homes, cafes and restaurants across the country
17:50 GMT
Latest figures released by the Federal Customs Authority (FCA) show that in the first six months of 2011, the UAE’s imports of all products surged 20 percent to Dh285 billion from Dh236 billion in the same period the year before.
The Minister reiterated the importance of the new draft law for consumer protection, which includes amendments to some articles of the current federal law no. (24) for the years 2006 to punish any attempt of fraud
17:42 GMT
His Excellency Sultan Al Mansoori, UAE Minister of Economy, said commercial fraud and counterfeiting are central issues that directly affect economic growth and public safety.
The rationale for buying security companies varies from sector to sector
17:30 GMT
“Growing threats and awareness, and changes in technology such as mobile devices and cloud computing are key drivers of spending growth in the cyber security market,” said PwC’s Barry Jaber.
Omani companies are pressured by UAE cement companies which supply cement at a lower cost to the Sultanate, thus hurting margins of Omani companies and igniting price wars among them
09:45 GMT
Oman continues to feel a pinch of the crisis by registering a huge 13 percent fall in cement prices in the nine months of 2011, compared to the previous year and declined 19 percent since the year ended 2010.
Students are showing interest in this area of finance and universities in the United Kingdom and France have responded to the demand early on
09:21 GMT
Islamic finance poses an ethical and non-conventional model and is currently the only area with strong growth, said Professor Ignacio dela Torre, Academic Director of the Master in Finance Programmes at Spain’s Instituto de Empressa (IE) Business School.
The regional markets will also draw comfort from surging global oil prices
08:49 GMT
A better than expected employment report in the US and anticipation Germany, France and rest of the Eurozone would act swiftly and decisively to end their lingering sovereign debt crisis in their own best interests is likely to boost sentiment on the region’s stock markets this week.

December 1, 2011

Syrians are now buying foreign currencies on a scale that threatens the country’s economy, and the demand for the Syrian pound in other Arab countries is declining fast
17:59 GMT
The Syrian currency is at its weakest level since the beginning of political unrest, dropping 30 percent against the US dollar. Further weakness is expected amid the escalated tension as the sanctions begin to bite.
Under the Jordan Atomic Energy Commission JAEC's proposal, the strategic investor would alleviate Jordan's financial burden by providing up to half of the funding for the nuclear reactor
17:48 GMT
The Kingdom's nuclear programme has attracted the interest of several major utilities, including French energy giant GDF Suez, China's Datang International Power Generation Co., Russian Rosatom Corp. and Japanese Kansai Electric Power, according to the commission.
Worries about demand growth overshadowed concerns over supply disruptions in the Middle East with tensions escalating with Iran
17:05 GMT
Brent crude slipped below $111 on Thursday, on concerns of demand growth after data from China, the second-biggest oil consumer, showed factory output slowed, while persistent concerns of Europe's debt crisis spreading took a toll.
The tax money from customs duties and other fees are needed by the Palestinian government
10:14 GMT
Israel announced yesterday that it would release tens of millions of dollars of tax money owed to the Palestinians, ending a standoff that the Palestinians say has caused grave damage to their economy.
The IMF’s Regional Economic Outlook for the Middle East and Central Asia, placed projects growth in the Middle East and North Africa region, including Afghanistan and Pakistan, at 3.9 percent in 2011, down from 4.4 percent in 2010
09:11 GMT
The economic outlook for countries across the Middle East and North Africa region varies markedly, with oil exporters seeing good growth in 2011 and others experiencing a dramatic slowdown, an IMF report said.