A senior EU official has urged Egypt to conclude its talks with the International Monetary Fund on a $4.8 billion loan agreement, saying the deal would help restore international confidence in its wrecked economy.
Abu Dhabi will inject a total of Dhs330 billion to help fund capital projects and other initiatives in the emirate up to 2017, the Abu Dhabi Executive Council has announced.
Kuwait’s government budget surplus stood at 14.7 billion dinars ($52 billion) in the first eight months of its fiscal year thanks to strong oil revenues, data from the Gulf country’s finance ministry showed.
Loan guarantees to small and medium sized enterprises by Lebanon’s Kafalat declined 16.4 percent in 2012 to $138 million, down from $165 million a year earlier.
Bad weather cut oil exports from Iraq's Basra ports to 960,000 barrels per day (bpd) on Sunday from 2.35 million bpd a day earlier.
Companies
Several of the UAE’s largest retail banks are still offering mortgages to with a down payment of just 20 percent, despite a move by the central bank to cap home loan lending.
Middle East Airlines, Lebanon's national carrier, is considering launching a low cost airline, as the two year crisis in Syria, an unsettling domestic political climate in Lebanon and a dip in tourism, puts a dent into its profits, carrier's chairman Mohamad El Hout said.
Qatar Airways is reportedly interested in buying a stake in an Indian airline following a similar move by Gulf rival Etihad.
