Business briefing: 2 Dec 2013

Lebanon adjusts to US banking regulations, plus other news

Economics and Policy

Lebanon continues to battle with US sanctions on banking secrecy.

More from The Daily Star

 

The absence of Arab tourists and investors is weighing heavily on the Lebanese economy, said Mohammad Choukeir, president of the Chamber of Commerce and Industry of Beirut.

More from The Daily Star

 

Iran has said it wants stronger cooperation with U.S. ally Saudi Arabia, as it seeks to ease concerns among Gulf Arab neighbours about a potential resurgence in its influence following a nuclear deal with world powers.

More from Reuters

 

UAE President Sheikh Khalifa bin Zayed Al Nahyan has announced the allocation of $5.44bn for funding social and economic projects.

More from Arabian Business

 

Companies and Business

Kuwaiti telecom operator Zain wants to retain majority control of its Bahraini subsidiary after the unit’s initial public offering, but has yet to agree the exact terms of the share sale.

More from Reuters

 

The chief financial officer of Saudi Prince Alwaleed bin Talal’s investment vehicle, Kingdom Holding, is to leave the firm.

More from Reuters

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