The World Bank revised Lebanon’s real GDP growth for last year downward from 2.8 percent to 1.7 percent.
The United Arab Emirates sees no need to cut oil production, the UAE’s oil minister has said, after Gulf OPEC ally Saudi Arabia slashed output in late 2012.
The share of renewables in the global energy mix has increased over the past decade to more than 15 percent but doubts remain over whether a 2030 target of 30 percent is achievable, delegates to an international conference said Wednesday.
President Mahmoud Ahmadinejad said Wednesday that Iran must move away from dependence on oil revenue to overcome Western sanctions that have slowed the economy and disrupted foreign trade.
Companies
Intercontinental Hotels Group has said Saudi Arabia and the UAE are two markets representing the largest opportunity for growth in the Middle East in 2013.
Lebanon’s craft beer brand, 961, has begun exporting to the US market.
The number of passengers using Rafik Hariri International Airport increased 5 percent in 2012, said the Directorate of Civil Aviation on Wednesday, adding that growth came despite a sharp decline in transit flights.
