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November 30, 2011

Brent crude slipped 32 cents to $110.50 by 0323 GMT, after revisiting the previous session's top of $111, which was its highest level in about two weeks
09:25 GMT
Brent crude stayed above $110 on Wednesday, holding onto its previous session gains, as Iran's escalating tensions with the West and an agreement by euro zone ministers to ramp up the firepower of their bailout fund helped support prices.
The strike, initiated by LPA, is a stepped-up response to the sacking of pilot Joseph Ayat who is undergoing treatment for cancer
08:08 GMT
MEA had issued a statement warning it would freeze salaries of pilots and held them liable for damages. “All the losses incurred by the company will be compensated from the pilots’ own salaries,” a statement, issued after an “emergency meeting” of the MEA board, warned.

November 29, 2011

Over the past 10 years, Qatar has also been the fastest growing economy, with an average growth of 13 percent per annum
17:53 GMT
Qatar had the highest nominal per capita income at purchasing power parity in 2010 among the 25 rapid growth markets (RGM), followed by the UAE.
Despite economic uncertainty and flagging consumer confidence in Europe and the US, traffic at Dubai’s main airport surged 7.3 percent in October to 4.3 million passengers over the same month last year
17:22 GMT
Middle East airlines recorded the strongest growth in passenger traffic at 7.7 percent in October over the same month last year, against a capacity increase of 9.5 percent.
“We need to have a government even if this Cabinet had certain weaknesses,” economist Ghazi Wazneh told The Daily Star
17:11 GMT
Lebanon’s economy is expected to shrink dramatically if the government of Prime Minister Najib Mikati resigned in the coming days or weeks due to deep differences over the international tribunal funding, economists and bankers warned Monday.
Passengers arriving on Qatar Airways' flights to London Heathrow and Manchester are expected to be affected
08:34 GMT
Due to the announcement of the strike by the UK Border Control Authority at all airports in the United Kingdom on November 30, some of the Gulf carriers have predicted significant disruption and extensive delays for passengers at arrival and departure in and out of the United Kingdom.
Oil prices will be supported because there are geopolitical tensions over Iran's nuclear program. That would provide a floor on prices
07:47 GMT
Brent fell below $109 on Tuesday after posting its largest gains in a month in the previous session as investors took profits and watched keenly to see how Europe would tackle its debt crisis at a meeting later in the day.
The impact of trade sanctions depends on Syria’s trade partners
07:21 GMT
Syrian citizens will be hurt by the sanctions as they already face oil and gas shortages and increases in prices of commodities,” Dr. Abdul Hamid Radwan said, a leading economist in the UAE Ministry of Foreign Trade. “The situation in Syria is getting very critical.

November 28, 2011

Many developers have delivered low-cost housing, which did not attract buyers, lost tenants and resulted in marginal profits for the company, and unsustainable communities for the region
18:06 GMT
As the Bahraini government is faced with a growing shortfall of affordable housing, currently estimated at 40,000 units, it must react quickly and efficiently to meet the soaring demand.
The contribution of the private sector to Abu Dhabi’s GDP is no more than 25 percent which is less than expectations
17:29 GMT
The contribution of the private sector to the Abu Dhabi economy is far less than expected, according to a top government official.
As recently as July, Syrian officials signed an early-stage agreement with Iran and Iraq for a US$10 billion (Dh36.73bn) pipeline that would transport Iranian natural gas through both countries to Europe
16:34 GMT
Arab League sanctions on Syria threatens its drive to become a thoroughfare for Middle East oil and gas.
Risk premiums have firmed up on some Middle East specific routes, though this has so far not been reflected on ships calling in at Dubai ports
13:09 GMT
Recent events in the Middle East accentuate the strategic value UAE’s ports and logistics sector play in the global movement of goods.
Oil output from OPEC member Libya has since resumed and risen more rapidly than many expected
13:00 GMT
The global oil market looks balanced, Saudi oil minister Ali Al Naimi indicated, while the secretary general of the Organization of the Petroleum Exporting Countries (OPEC) said some producers need to cut back as Libyan output rebounds.
Syria's rich culture and history, as well as its beaches, mountains, lakes and forests, means it has the natural attributes that could make the country a prime destination in politically stable conditions
10:04 GMT
Until the violence began Syria was enjoying a resurgence in its tourism industry. The effects of the sanctions could spread across the border to Lebanon and Jordan.

November 27, 2011

The plan aims to turn Kuwait into a regional trade and financial hub through sustaining economic development, economic diversification and GDP growth
17:17 GMT
The plan aims at decreasing the country's dependence on oil but also includes investment on raising oil and natural gas production.