Economics
Brent crude slipped below $111 a barrel on Friday, weighed down by concerns that oil demand will be hurt if China's economy continues to sputter, the euro zone remains weak and automatic spending cuts are enacted in the United States.
An unofficial ministerial meeting has failed to open a window of hope for a compromise solution between the government and labor unions over an ongoing strike.
The US has pledged for the first time provide direct assistance to Syrian rebel forces fighting to overthrow the regime of Bashar Al Assad.
Tunisia's ongoing political crisis may harm the economy, the central bank warned on Thursday, when it also said economic growth rebounded to 3.6 percent in 2012 after the 2011 revolution plunged the country into recession.
Bahrain’s rulers have made no progress on key reform promises, failing to release unjustly imprisoned activists or to hold accountable high-level officials responsible for torture, Human Rights Watch has said.
Lebanon’s public sector salary expenditures increased to $2.4 billion up to October 2012, according to the Finance Ministry, $460 million more than the same period in 2011.
Egypt’s central bank is expected to report next week that it has slowed the rapid erosion of its foreign currency reserves but failed to halt it, despite sharp limits it has put on its sales of dollars, which economists say are punishing business.
Companies
Most recruiters in the GCC region are adopting a cautious stance amid the global economic crunch, according to a new survey.
There are increasing fears about the financial stability of Arabtec Holding – the UAE’s largest construction company.
Emirates Airline has announced that it will add a second Airbus A380 service on its Sydney route from June 1.
A detailed design masterplan for a $1bn medical city in Oman has been completed, officials have announced.
