Economics and policy
Foreign Direct Investment in Lebanon fell by 68 percent in 2012, down to $1.1 billion from $3.5 billion in 2011.
Syrian rebels have told Lebanese truck drivers that the Masnaa crossing to Syria would remain closed indefinitely, the head of Lebanon’s Farmers’ Association has said.
Saudi Arabia, the world’s largest oil exporter, will start drilling for shale gas this year, the Gulf state’s Oil Minister has said.
Arab banks operating in Cyprus may abandon the island if the government does not revoke a proposal to impose taxes on depositors, the head of the World Union of Arab Bankers warned Monday.
Companies and Business
Investment Corporation of Dubai (ICD) has launched a syndication of $2 billion conventional and Islamic financing facilities to refinance a $2 billion loan due to mature in August.
Contractor Drake & Scull International has been awarded contracts worth AED369m (US$100.46m) for the construction of three projects in Saudi Arabia and the United Arab Emirates.
Collapsed carrier Bahrain Air has failed to honor around 22,000 customer tickets as a result of its closure.
Abu Dhabi government-owned Al Hilal Bank plans to issue a debut Islamic bond worth $500 million in the third quarter of this year to fund growth and diversify its balance sheet.
