Home The Buzz Business briefing: 5 July 2013

Business briefing: 5 July 2013

GCC plans Hezbollah sanctions, plus other news

by Executive Staff

Economics and Policy

GCC officials have formed panels to oversee sanctions against Hizbollah's interests in the region, as a penalty for the group's involvement in Syria.

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Egyptian shares posted their largest one-day percentage gain in more than a year Thursday after the army ousted former President Mohammed Morsi and an interim president was sworn in.

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Syria's president Bashar Al Assad claimed in an interview published Thursday that his international opponents have "used up all their tools" in their campaign to overthrow his regime.

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Companies and Business

Air traffic controllers at Beirut's Rafik Hariri International Airport have staged a two-hour strike to demand higher salaries.

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FlyDubai, which operates an all-Boeing Co. fleet, has said there’s an “open race” between the U.S. manufacturer and European rival Airbus SAS to supply it with 50 narrow-body aircraft worth $5 billion at list prices.

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