Home The BuzzBusiness briefing: 3 Oct 2013
The Buzz

Business briefing: 3 Oct 2013

by Executive Staff
written by Executive Staff

Economics and Policy

The first phase of the onshore oil and gas survey started Tuesday in the Batroun region amid expectations that Lebanon might be sitting on considerable gas wealth in some areas.

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Iran is preparing a politically risky increase in domestic fuel prices, trying to ease the burden of multibillion-dollar subsidies on an economy severely damaged by Western sanctions.

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OPEC's Secretary General says he is comfortable with the market outlook for 2014 and that a forecast drop in demand for OPEC oil is not large, indicating the group may not make big changes to output policy at a December meeting.

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Companies and Business

Middle East fund managers are planning to increase investments in Saudi Arabia while withdrawing funds from Dubai, owing to a concern about the latter’s market over heating, according to a Reuters survey.

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Qatar's response to allegations of maltreatment of migrant workers in the 2022 World Cup host nation has been "weak and disappointing," the International Trade Union Confederation (ITUC) has said.

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