Economics and Policy
Brent crude oil is likely to rise towards $125 a barrel if the West launches air strikes against Syria and could go even higher if the conflict spills over into the rest of the Middle East, Societe Generale said on Wednesday.
Major tour operators in Finland, Sweden, Norway and Denmark say they have canceled at least 60,000 trips to Egypt through the winter season that lasts until April due to recent unrest.
Despite this news, Egypt’s Cabinet approved Wednesday an additional 22.3 billion Egyptian pounds ($3.19 billion) in investment projects to boost the economy over the coming 10 months.
The Economic Committees, Lebanon’s leading private sector association, geared up Wednesday for a nationwide strike planned for next week over the country's political vacuum.
Companies and Business
The Arriyadh Development Authority (ADA) in Saudi Arabia has announced the two winning international consortia who will oversee the design and construction of Riyadh's new $22.5bn metro system.
Saudi Aramco has signed agreements with a Japanese-Saudi consortium to build and operate cogeneration power plants.
Passenger traffic at the Dubai International continued to increase in July and the world’s second busiest airport for international passengers maintained a double-digit growth for the first seven months of the year, compared to the same period in 2012.