Economics and Policy
Caretaker Lebanese Energy and Water Minister Gebran Bassil has promised to supply Lebanon with 16 hours of electricity a day during the summer season despite the mounting consumption.
After several sluggish years, mergers and acquisitions activity within the Middle East is showing signs of revival, giving hope to global banks which scaled back their regional operations because of a dearth of deal flow.
Holidaymakers from the UAE are cancelling summer breaks to traditional destinations such as Turkey and Lebanon due to regional instability.
Oman needs to contain state spending and raise non-oil revenue in the medium term to keep its fiscal balance sustainable, the International Monetary Fund has said.
Companies and Business
Emaar Properties and Kurdish company Faruk Group Holding will soon sign a contract valued at more than US$2 billion to develop a resort in Iraq's oil-rich Kurdish region in the north.
Beirut Port is to be modernized, Lebanon's caretaker Public Works and Transportation Minister has said.
Princess Haya bint Al Hussein, wife of Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum, has announced plans for a €100m ($133m) fund to promote entrepreneurship.
Dubai property developer Nakheel has announced that it has made a profit payment of $57.1m against its trade creditor sukuk.
