Home The Buzz Business briefing: 1 Aug 2013

Business briefing: 1 Aug 2013

Cyprus bailout ‘succeeding’, plus other news

by Executive Staff

Economics and Policy

Cyprus is making good progress in meeting the conditions of its multibillion-euro bailout, but the high level of uncertainty over its economic outlook means that authorities must remain vigilant, the country’s international creditors have said.

More from Associated Press


Egypt’s state gas company EGAS will cut back on the amount of gas it supplies to factories to keep electricity plants running instead during the peak summer months.

More from Reuters


Lebanon's Caretaker Finance Minister Mohammad Safadi has denied reports that he sounded the alarm over a lack of liquidity at the Treasury.

More from The Daily Star


The Eid Al Fitr paid holiday for private sector employees in the UAE will likely be August 8-9, if Ramadan is 29 days this year.

More from Arabian Business


More than 5.5 million tourists visited Dubai in the first half of 2013, an 11.1 percent year-on-year increase.

More from Arabian Business

Companies and Business

The UAE's largest port company DP World has announced that challenging market conditions meant the amount of goods shipped through its ports fell 5.8 per cent during the first six months of the year.

More from The National


Wijaya Karya (Wika), the Indonesian government controlled construction company, has drawn up plans for a seven-tower hotel complex in Makkah, Saudi Arabia worth an estimated $1.1bn.

More from Arabian Business


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