Lebanon will launch a tender to run its two state-owned mobile phone operators, currently managed by Kuwait’s Zain and Egypt’s OTMT, as part of a plan to revamp the telecoms sector, a senior government adviser said.
The Middle East’s freshwater reserves are drying up, according to a new study.
Slight profit-taking pushed most Middle Eastern markets lower Thursday as investors failed to find a positive catalyst to advance prices that seem stretched.
Demand for gold fell last year for the first time since 2009 as Asians bought less jewellery and Western investment dipped, the World Gold Council said in a report bears saw as new evidence the 12-year rally may be topping out.
Egypt's pound weakened to a record low against the dollar in interbank trade after a foreign currency sale on Thursday, but trading volumes were low as authorities reduced the flow of dollars into the market.
Qatar's sovereign wealth fund is in advanced talks with Russia's second-largest bank VTB about injecting between US$3bn and US$3.5bn into the banking giant, the Telegraph reported.
High oil prices helped Oman post a budget surplus of OMR3.22 billion ($8.4 billion) in 2012, a turnaround from a deficit of OMR113.2 million in 2011, data from the finance ministry showed on Thursday.
Companies
Some of Egypt’s most powerful pre-revolution figures are being lured back to the country in an attempt to kickstart growth.
Egypt's aviation minister says the hiring of President Mohammed Morsi's son to a highly-paid government job was justified, dismissing accusations of nepotism.
Etihad Airways, the national airline of the United Arab Emirates, has increased its flights to the Northern city of Lahore from seven to 11 a week offering passengers more convenient travel options.
Saudi-owned Egyptian airline Nile Air has announced it is to expand its reach in the Gulf by launching flights to Kuwait.
