Economics and Policy
The Egyptian government is to supply more gas and diesel to power stations to deal with electricity shortages that have worsened in recent months after the cash-strapped country failed to import enough fuel.
Lebanon's Union Coordination Committee has accused the Finance Ministry of intentionally submitting salary scale bills with errors in them in a bid to delay the ratification of a wage hike in Parliament.
Egypt’s central bank sold an unspecified amount of dollars after offering a record $800 million to local lenders at a currency auction to finance imports as Standard & Poor’s warned of accelerating inflation.
Kuwait’s stock market boom could run out of steam if the government doesn’t push ahead soon with long-delayed infrastructure projects aimed at diversifying the oil-reliant economy.
Companies and Business
Oil major BP has allocated $2.85 billion to develop Iraq's Rumaila oilfield in 2013, up from $2.2 billion last year.
Majid Al Futtaim Holding has bought Carrefour's 25 per cent stake in its hypermarket business for €530 million.