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November 22, 2012

Mixed news on Middle East markets
03:00 GMT
Gulf markets steadied yesterday even as investors remained cautious amid a prolonged Israeli air raid on the Gaza Strip, while Egypt recovered after reaching a preliminary loan deal for $4.8 billion with the International Monetary Fund.

November 21, 2012

2013 will see weaker growth, but economies will be supported by high oil prices, according to ratings agency Fitch
11:50 GMT
Economic growth in the Gulf Cooperation Council (GCC) will slow in 2013 owing to a moderation in oil production growth, but high oil prices will provide a supportive backdrop for another year of solid non-oil growth, rating agency Fitch said.
Saudi Arabia still continuing to import oil so it can maintain capacity
11:06 GMT
Saudi Arabia, the world's largest crude exporter, doubled imports of fuel oil this year and is poised to maintain them at a high level to preserve its spare capacity for producing crude, Energy Aspects said.
Oman's GDP is inching higher, buoyed by high oil prices
10:52 GMT
Oman's nominal GDP, which is measured at current market prices, grew 16.2 per cent in the first half of this year to RO15.2bn against RO13.08bn in the same period of 2011, according to new statistics.
Gulf regulators are going looking for 'private wealth' which can further destabilise economies
09:54 GMT
The world of Arabian Gulf private wealth is facing increased scrutiny as global banking regulators aim their spotlights at the so-called "shadow banking" sector in an effort to stabilise the banking system.
Palestinians in Lebanon are working under exploitative conditions according to the ILO
08:43 GMT
Palestinian refugees in Lebanon are managing to find work, despite ongoing obstacles, but largely under exploitative conditions, according to a new study conducted by the International Labor Organization and released Tuesday.
Egypt and the IMF have agreed a crucial $4.8 billion loan
03:00 GMT
Egypt and the International Monetary Fund (IMF) have agreed a $4.8 billion loan, but what is the devil is always in the detail.

November 20, 2012

Renault is trying to regain its 'Va Va Voom' in Levant countries, despite taking a hit in Syria
13:09 GMT
Renault group is seeking to expand to regain its 'Va Va Voom' in Levant countries despite taking a severe blow in Syria where escalating violence has brought car sales to a halt since June.
Women need to play a bigger role in the labour market experts claim
11:35 GMT
Labour participation by women in Middle Eastern labor markets at 27 per cent is weak, according to Nadereh Chamlou, Senior Advisor at the office of Chief Economist Mena Region, and more must be done to encourage women to enter the job market.
Bahrain is set to go head to head with the International Labour Organization
09:56 GMT
Bahrain has lashed out at the International Labour Organisation (ILO) for failing to dismiss an "unjustified" complaint about the reinstatement of workers sacked during last year's unrest.
Tourism in Egypt is declining over fears of the Gazan conflict and attacks in the Sinai
09:10 GMT
Tourism in Egypt is suffering again after violence in Gaza and the Sinai. The industry was slowly starting to recover after the revolution which saw President Mubarak ousted from power in 2011, but many fear a protracted conflict across the border will be bad for business.
Spinneys staff have elected their frist union leader
03:00 GMT
Spinneys workers elected their union’s first leaders after a long and bitter struggle with management, particularly company CEO Michael Wright, who resorted to all means of pressure to undermine the union campaign.

November 19, 2012

Is it high-time homeowners in Jordan became self-sufficient in energy?
11:21 GMT
For citizens of a country that imports 98 per cent of its energy needs, the notion of personal energy independence may seem like a far-fetched futuristic fantasy, but it might be time to consider such a move after the government cancelled fuel subsidies.
Egypt's Salfists have entered the business world
11:13 GMT
At one of Cairo's luxurious Nile side hotels, in a lavish ballroom, around a hundred Egyptian Salafists, including some of their top religious scholars, gathered to launch their Salafist movement's first business association.
Would tourists benefit from a single GCC-wide tourist visa?
10:01 GMT
A single Gulf Cooperation Council (GCC) entry visa will help boost the number of tourists in the region and will reinvigorate tourism as a sector, a study submitted to GCC officials has found.