Economics
Lebanon’s Finance Minister Mohammad Safadi has denied media allegations that he has proposed raising the value added tax from 10 to 12 percent.
The United Arab Emirates attracted about AED30bn (US$8.2bn) of direct foreign investment last year, the UAE's prime minister said on Monday.
The United States has urged Egypt to move fast to agree a loan deal with the IMF, reform its energy sector and guarantee investors against "arbitrary acts" to avert a deeper slide in its economy.
Lebanon thwarted the largest ever cigarette smuggling attempt to Egypt in December, the Egyptian Embassy announced Monday.
The Sudanese has government signed a Qatar-sponsored ceasefire with a splinter Darfur rebel group, Sudanese and Qatari state media said, raising hopes of an improvement in the economy there.
Companies
Kuwait Energy says it is firmly fixed on pumping gas and finding oil in southern Iraq and will not risk aggravating Baghdad by seeking contentious deals with the northern autonomous region of Kurdistan.
The number of containers handled by the Port of Beirut rose in January 2013 by 28.5 percent to reach 56,239 compared to the same month last year, according to the latest statistics.
Oil companies that buy Saudi Arabian crude have not requested extra supply and sources in the kingdom say production policy is unchanged – indicating steady output despite a jump in prices to US$118 a barrel.
Lebanon’s Banque BEMO S.A.L. has announced 2012 net profits of $5.3 million, down by 19.4 percent from $6.6 million in 2011. Net interest income amounted to $15.7 million in 2012, up by 42.3 percent.
