In a push to assert its authority over Iraq's fractious oil sector, the federal Oil Ministry has stated its intention to seize crude, natural gas and fuel shipped outside the country without its approval and to prosecute offending companies.
Egypt’s central bank said Thursday that a $2 billion loan from Qatar arrived in December, suggesting that the money had already been eaten up defending the currency before the foreign reserves crisis became public late last year.
Lebanon's Telecommunications Minister Nicolas Sehnaoui has announced that the Cabinet had finally agreed to release the $1.2 billion of cash to the municipalities to help them carry out crucial development projects.
Saudi Arabia has cut oil production substantially, moving to fend off a growing overhang in world oil supply and defend prices well above $100 a barrel.
French President Francois Hollande will lead a charm offensive in the UAE next week to try and help oil major Total win a $10bn deal to operate the strategically important Bab sour gas field.
French-based hotelier Accor has signed a management contract to develop the first Novotel hotel in Jeddah, Saudi Arabia.
Etihad Cargo, the freight division of Etihad Airways, will inaugurate a new direct weekly operation from Abu Dhabi to the southern Chinese city of Guangzhou from January 17.