Home The Buzz Business briefing: 16 Aug 2013

Business briefing: 16 Aug 2013

by Executive Staff

Economics and Policy

A car bomb killed at least 21 people and wounded 250 in the southern suburb of Beirut on Thursday evening.

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The UAE has expressed support for the Egyptian government's crackdown on supporters of ousted President Mohamed Morsi in which hundreds have been killed.

More from Arabian Business

 

The crackdown also led General Motors to ceased production at its Egyptian assembly plant outside of Cairo and shut its local office.

More from Reuters

 

Elsewhere in Egypt, however, the country's its ports were operating normally while gas production has been unaffected by the unrest.

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Companies and Business

Dubai construction firm Arabtec has reported a net profit of $42 million for the first half of the year, up 114 per cent from a year earlier.

More from Gulf Business

 

A unit of Libya's sovereign wealth fund is in talks to buy a 35-percent stake in state-owned Tunisie Telecom from a conglomerate owned by Dubai's ruler.

More from Reuters

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