Business briefing: 12 Dec 2013

Iran, UAE close to islands agreement, plus other news

Economics and Policy

Iran and the UAE are reportedly close to reaching a deal on returning three Iranian-occupied islands in the Arabian Gulf to the UAE.

More from Arabian Business


Some of the ministers refuse to involve Lebanon's Higher Council for Privatization in certain vital projects in order not to undermine their authority and privileges, the secretary-general of the body has said.

More from The Daily Star


Authorities in Saudi Arabia are planning to invest $4bn in developing water storage projects in the Gulf kingdom.

More from Arabian Business


Global oil demand in 2014 will be higher than previously forecast, after consumption in the US rebounded to its strongest level in five years, the International Energy Agency said.

More from Bloomberg


Companies and Business

Habtoor Leighton Group has secured a contract with the Al Habtoor Group worth $395m for the construction of the Residential Towers project as part of the $3bn Al Habtoor City development in Dubai.

More from Arabian Business


Advertising revenues in the Middle East and African markets are forecast to grow by 6.3 per cent in 2014, according to a report by Magna Global.

More from Gulf Business


The Middle East and Asia-Pacific are tipped to register the strongest growth for international passengers in the next four years amid forecasts that global passenger traffic will break through the three billion mark by 2017.

More from Arabian Business