Economics and Policy
Iran wants oil prices to stay above $100 a barrel, its oil minister said on Sunday after crude touched nine-month lows near $101 on Friday and ahead of OPEC's next meeting on May 31.
Lebanon's public debt rose 8 percent to $58bn at the end of January from the same month a year earlier, according to data from the Association of Banks in Lebanon.
Egypt expects its economy to grow by 2.5 percent in the fiscal year ending in June, its planning minister said in remarks run by state news agency MENA on Sunday, cutting the forecast for a second time this year.
Elsewhere on Sunday, Cairo’s central bank held an exceptional foreign exchange auction for $600 million to cover strategic imports such as wheat, meat and cooking oil.
Companies and Business
Leading Lebanese banks’ profit growth will be on the upswing in the first quarter of 2013, according to FFA Private Bank market research.
Saudi Arabia's largest lender by assets, National Commercial Bank (NCB), posted a 19.4 percent increase in first-quarter net profit on the back of higher special commission and fee income, it said on Sunday.
Dubai Islamic Bank (DIB), the largest sharia-compliant lender in the emirate, said on Sunday its first-quarter net profit climbed 17 percent, after the bank posted strong asset growth since December.
Private companies need to do more to attract Emiratis, focusing on career progression and other benefits rather than wages, a UAE government official has said.
Dubai Islamic Bank (DIB), the largest sharia-compliant lender in the emirate, has announced its first-quarter net profit climbed 17 per cent, after the bank posted strong asset growth since December.