Business briefing: 5 Dec 2013

UAE president to visit Iran, plus other news

Economics and Policy

UAE president Sheikh Khalifa bin Zayed Al Nahyan has accepted an invitation from Iranian president Hassan Rouhani to visit Tehran.

More from Arabian Business

 

Caretaker Energy and Water Minister Gebran Bassil has urged politicians to end a dispute that has blocked the passage of key oil and gas legislation, while reiterating that he would not change the January 10 date for the offshore gas auction.

More from The Daily Star

 

The confidence of Lebanese consumers plunged further this year as the political standoff wreaked more damage to the economy, a new survey showed Wednesday.

More from The Daily Star

 

Saudi Arabia needs to strengthen its private sector to satisfy demand for jobs by its young population and reduce its dependence on oil exports, a senior International Monetary Fund official has warned.

More from Reuters

 

Companies and Business

Saudi Arabian banks are scaling back lending as the withdrawal of domestic stimulus has slowed economic growth.

More from Bloomberg

 

Dubai builder Arabtec Construction was part of a consortium awarded a $1.2bn contract for a hospital in Abu Dhabi.

More from Arabian Business

 

Hill International has announced that it has received a contract from Real Estate Services Group to provide project management services for the design and construction of two mixed-use tower projects in the Lusail District of Doha, Qatar.

More from Arabian Business

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