Main headlines

December 24, 2012

After a series of strikes across Lebanon, the Cabinet is set to reconsider a proposed salary scheme
11:06 GMT

The Lebanese Cabinet will discuss a proposed public sector salary scale that has caused widespread industrial action across the country.

Egypt is to increase the cost of fuel, the Minister of Petroleum and Mineral resources has announced.
10:43 GMT

Prices of fuel oil will be gradually increased during the coming period in consultation with the concerned ministers, Egypt's Minister of Petroleum and Mineral Resources said on Sunday.

The Yemeni government has approved a budget of over YR 2 trillion
10:03 GMT

Yemen's government approved the state's general budget for 2013.

Egypt's budget deficit is on the rise
08:40 GMT

Egypt’s budget deficit increased to LE80.7 billion ($13 billion) during the first five months of the current fiscal year 2012/13, which starts in July, the Ministry of Finance reported on Sunday in a bulletin.

Hotel occupancy in Lebanon's hotel has more than halved in the first ten months of 2012
08:11 GMT

Hotel occupancy at Lebanon’s five-star hotels fell to 56 percent in the first 10 months of 2012 with rates particularly low since August, Ernst & Young’s monthly survey showed.

Iran is playing a "smart economic" warn, Iranian President Mahmoud Ahmadinejad has claimed
07:51 GMT

Iran is engaged in a "smart economic war" with Western powers whose sanctions against its nuclear programme are hurting some Iranians, President Mahmoud Ahmadinejad has said.

Bahrain is gearing up to hold a GCC summit which discuss closer economic ties and the Syrian conflict
07:43 GMT

Bahrain is gearing up to host a meeting of top Gulf government ministers on Monday, which is set to focus on the Syrian crisis and regional military cooperation and economic unity.

The head of Egypt's Central Bank has denied resigning
03:00 GMT

The governor of the Egyptian Central Bank, Farouq El-Oqda, denied on Sunday reports of his resignation, describing them as falsified, state-run Arabic-language news website Al-Ahram reported.

December 23, 2012

Political instability in the MENA region will be one of the key determinants of oil prices in 2013, Barclays say
12:40 GMT

The key determinant for oil prices in 2013 will Iraq and Syria, analysts suggest.

The UAE is urging its citizens to avoid travel to Lebanon
11:39 GMT

The UAE's Foreign Ministry warned its citizens not to travel to Lebanon at this time unless necessary, the state run news agency reported.

Samsung and Apple are slogging it out in the courts over patent disputes
10:35 GMT

The European Commission said yesterday that South Korea's Samsung Electronics was abusing its dominant market position in certain technologies when it took out injunctions against fierce rival Apple.

Germany is to offer Lebanon financial aid for Syrian refugees
09:45 GMT

Germany’s Federal Minister of Economic Cooperation and Development Drik Niebel said Saturday his country would donate around $14 million to assist Syrian refugees in Lebanon.

Oil output in Iraq wil reach 3.2 million barrels a day in December
08:07 GMT

Iraqi crude production will exceed 3.2 million barrels a day in December, Iraqi Oil Minister Abdul Kareem al-Luaibi said in Cairo.

Bahrain is set to review fuel subsidies, which are expected to cost the government  almost BD1 billion ($2.637 billion) a year
07:23 GMT

As fuel subsidies come into focus across the region, Bahrain is to review the spending on them, which are expected to cost the treasury BD1 billion ($2.637 billion) a year by 2014.

There is confusion as to wether or not the head of  Egypt's central bank has resigned
06:53 GMT

While Egypt's state television reported the resignation of Egypt Central Bank's governor Farouq El-Oqda, the cabinet denies the news