Economics and Policy
Arab countries must pursue economic and political reforms and improve their infrastructure in order to strengthen their economies, the head of the World Union of Arab Bankers has said.
The American energy exploration firm ION Geophysical was awarded a contract to conduct a seismic survey of an additional 1,650 kilometers off Lebanon’s coast, Energy and Water Minister Gebran Bassil has announced.
An International Monetary Fund team has resumed long-delayed negotiations with Egypt on a $4.8 billion loan to ease a deepening economic crisis in the country.
Elsewhere in Egypt, Cairo’s bourse fell to a new 2013 low on Wednesday as foreign investors sold stocks on fears that the country's currency would be further devalued.
Companies and Business
Abu Dhabi state investment fund Mubadala has signed a $2bn loan refinancing.
Telecom operator Zain Saudi has extended the maturity of a $600m facility until May 1, according to a statement on Saudi Arabia's bourse, the latest debt roll over by the loss-making firm.
Middle Eastern airlines continued to post the strongest growth rates for the second consecutive month in February for international passengers demand and more than double the global average of 3.7 per cent, according to an international airline body.
Saudi Binladin Group, one of the largest construction firms in the kingdom, has priced a 1.3 billion riyal ($346.7 million) Islamic bond.
