Economics and Policy
Lebanon continues to battle with US sanctions on banking secrecy.
The absence of Arab tourists and investors is weighing heavily on the Lebanese economy, said Mohammad Choukeir, president of the Chamber of Commerce and Industry of Beirut.
Iran has said it wants stronger cooperation with U.S. ally Saudi Arabia, as it seeks to ease concerns among Gulf Arab neighbours about a potential resurgence in its influence following a nuclear deal with world powers.
UAE President Sheikh Khalifa bin Zayed Al Nahyan has announced the allocation of $5.44bn for funding social and economic projects.
Companies and Business
Kuwaiti telecom operator Zain wants to retain majority control of its Bahraini subsidiary after the unit’s initial public offering, but has yet to agree the exact terms of the share sale.
The chief financial officer of Saudi Prince Alwaleed bin Talal’s investment vehicle, Kingdom Holding, is to leave the firm.
