Business briefing: 19 Sept 2013

Syria chemical weapons dump costs $1bn, plus other news

Economics and Policy

President Bashar Al Assad has said it would cost about $1 billion to get rid of Syria's chemical weapons under a US-Russian deal reached last week.

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The Beirut Stock Exchange continues to tumble both in volume and value as many Lebanese investors look into more promising and stable markets abroad.

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The Palestinian Authority has warned that its economy cannot grow under Israeli occupation and restrictions, echoing the findings of an International Monetary Fund report.

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More than 1 million expats have left Saudi Arabia under an amnesty announced by King Abdullah in April in a bid to rid the kingdom of illegal foreigners.

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Companies and Business

Dubai's Mashreq will allow foreigners to own up to 20 percent of the bank's shares, it said in a bourse statement on Wednesday.

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Football world governing body FIFA has said there is no chance of compensation being paid to countries that lost the bid to host the 2022 World Cup – awarded to Qatar – as well as broadcasters, professional leagues or sponsors, even if the schedule is changed to winter.

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