Economic and Policy
Syria’s oil production has crashed to 20,000 barrels per day, or 5 percent of its prewar output, Oil Minister Sleiman Abbas said.
Egypt is failing to carry out privatization policies that could help rebuild the economy.
Oman’s government is considering a proposal to issue dollar-denominated sovereign bonds sometime in 2014, which could lead to regular debt sales in the future.
Companies and Business
Islamic Development Bank (IsDB), a Jeddah-based multilateral institution, raised $1 billion from the sale of a five-year Islamic bond, or sukuk, at par on Wednesday, overcoming a sell-off across global credit markets.
Abraaj Group, the Dubai-based private equity firm with $7.5 billion in assets, is among Gulf investors targeting acquisitions in North Africa as a surging population boosts demand for products from health care to food and banking.
Middle East airlines saw their freight business expand by 8.6 percent last month, according to figures released by the International Air Transport Association (IATA).