Author Archives: Executive Staff

Business briefing: 14 Nov 2013

Caretaker Industry Minister Vreij Sabounjian has met with an official from the United Nations Development Program to discuss the participation of Lebanese firms in the Syrian refugee aid response. More from The Daily Star Oman’s public sector wage bill may jump by as much as $2.3 billion next year, according to the finance minister, accelerating

Business briefing: 13 Nov 2013

Economics and Policy Saudi Arabia officially notified the United Nations on Tuesday of its decision to reject a seat on the U.N. Security Council, which U.N. diplomats said clears the way for the likely election of Jordan as a replacement. More from Reuters   The Arab world’s energy exporting states are not saving enough of

Business briefing: 12 Nov 2013

Economics and Policy Shares in Twitter Inc have been found eligible for investment by Islamic funds, according to IdealRatings, a company that screens stocks to determine whether they meet Muslim principles. More from Reuters   The International Monetary Fund will help Lebanon streamline its consumer price index calculation in a bid to obtain more accurate

Business briefing: 11 Nov 2013

Economics and Policy Kuwait’s government plans to form a special committee to review subsidies on goods and services which are costing the Gulf Arab state more than $15.9 billion a year. More from Reuters   Subsidised petrol and electricity programmes are causing a huge waste of energy across the Gulf and threatening economies, Oman's oil

Score one for corporate governance

Executives from the world’s leading development financial institutions flew into town to witness the signing by the Beirut based private equity firm, the EuroMena Funds, of the first national corporate governance declaration. Lebanese bankers, real estate developers, public officials and many financial executives also were there on Wednesday evening at Phoenicia Hotel to be part

Business briefing: 8 Nov 2013

Economics and Policy Standard & Poor’s downgrade of three leading Lebanese banks is unlikely to have an impact on the prices of bonds or interest rates. More from The Daily Star   Saudis are complaining of surging labor costs following the exodus of a million foreign workers, although economists insist there will be long-term planning

Business briefing: 7 Nov 2013

Economics and Policy Iraqi Kurdistan has finalised a comprehensive package of deals with Turkey to build multi-billion dollar oil and gas pipelines to ship the autonomous region's rich hydrocarbon reserves to world markets. More from Reuters Payments problems, chaos and corruption are hampering Libyan importers from making big deals to buy wheat, another setback as

Business briefing: 6 Nov 2013

Economics and Policy The severely weakened Syrian pound has surged against the dollar in recent days, with experts pointing to central bank intervention and developments favorable to the regime. More from The Daily Star Iran will lead a club of the world’s biggest natural gas exporters as its own shipments abroad are hampered by US

Business briefing: 5 Nov 2013

Economics and Policy Egypt returned a $500 million deposit to Qatar at the start of November after Qatar refused to renew it upon its maturity. More from Reuters   The United Nations estimates that around 9.3 million people in Syria, or about 40 percent of the population, need humanitarian assistance due to the country's 2-1/2-year