Economics and Policy
Saudi Foreign Minister Prince Saud al-Faisal has pledged to fill any financial gaps left by Western countries withdrawing aid from Egypt over an army crackdown on Muslim Brotherhood protesters that has left hundreds dead.
Elsewhere in Egypt, authorities escalated their crackdown on deposed President Mohamed Morsi’s Muslim Brotherhood by arresting the Islamist organization’s top leader.
Brent crude oil strengthened above $110 a barrel Monday as the loss of Libyan oil exports tightened supply and unrest in Egypt stoked fears of lower supply.
Representatives of Lebanon’s private sector and government officials met Monday to discuss measures to prop up the country’s ailing economy against the backdrop of a political impasse and a deteriorating security situation.
Qatar’s government spending rose 2.2 per cent to a record QAR178.2 billion ($48.9 billion) in its last fiscal year, slowing sharply from double-digit increases seen in the previous decade, official data showed.
Business and Companies
Up to 32 per cent of companies in the UAE are ‘definitely hiring’ in the next three months while 69 per cent of these firms expect to fill up to 10 positions, a new survey has revealed.
Authorities in Saudi Arabia have signed $1bn worth of contracts as part of a plan to build 40,000 new homes and alleviate the kingdom’s housing shortage.
