November 14, 2012
Abu Dhabi has capped annual rent increases at five per cent and extended tenancy contracts stipulated in the rent law to November 9, 2013.
Saudi Arabia is well-placed to play a crucial role in the development of Islamic finance since the largest Islamic banking institutes are based in Gulf Cooperation Council (GCC) countries.
Egypt's government will focus on boosting flagging economic growth to 3.5 percent this financial year and 4.5 percent in 2013/14 said Prime Minister Hisham Kandil
The International Energy Agency (IEA) lowered its world oil-demand forecast for this quarter for a second time, citing weakness in Europe's economy and disruption to US fuel delivery and travel by Hurricane Sandy.
Revenues from passenger traffic on Egypt's railways grew by 15.8 per cent between January and September compared to the same period of last year, reaching some LE758 million.
The UAE has issued a two-month amnesty for illegale workers, allowing them safe passage out of the country, in amove that could affect the economy, which is heavily reliant on migrant workers in both the formal and informal economy.
Jordan's Cabinet finally confirmed on Tuesday that it will reduce subsidies on fuel products, as it seeks to reduce its deficit. The biggest increase will be on the cost of cooking gas, which will rise to JD10 from JD6.5.
November 13, 2012
The global thirst for oil will grow in the next two decades driven by demand from so-called 'emerging nations' and the rise of the US as the top producer, the International Energy Agency said yesterday.
As it looks to secure investment from Libya, France says it is ready to start releasing almost $2 billion in frozen assets belonging to Libya's sovereign wealth fund.
The International Monetary Fund has just finished a visit to Algeria to asses the economy and hold discussions on the short and medium term policies that are being put in place in the context of a weakened global economic recovery.
Jordan's government is set to increase the price of electricity by 18 per cent over a two-year period, as the country seeks to deal with its growing budget deficit.
Bahrain's flag carrying airline, Gulf Air, has announced that in deference to government directives it has revised aircraft orders with Boeing and Airbus that reduce its long-term financial liability of approximately $5 billion by over 50 per cent.
The International Monetary Fund has said that Iran's economy has suffered only a minor contraction because of the ban on oil exports from Western nations.
Arab and Hungarian officials and businessmen are mulling around $2 billion worth of investments during a forum in Budapest that kicked off Monday.
Abu Dhabi’s Supreme Petroleum Council, the country’s highest oil authority, has instructed operating companies to seek ways of raising production, Abu Dhabi International Petroleum Exhibition and Conference (Adipec) said in a statement.