Home The Buzz Morning briefing:11 March 2012


Morning briefing:11 March 2012

Lebanon’s presents draft budget, plus other news

by Executive Staff

Economics and Policy

Gold edged up on Monday, off a two-week low hit in the previous session on better-than-expected US jobs data, as the Federal Reserve is expected to continue to prop up the economy through 2013 with monetary stimulus, giving support to gold.

More from Reuters

 

Lebanese Finance Minister Mohammad Safadi has presented a revised draft budget to cabinet which sees expenditure of $14.08 billion and a deficit of $3.48 billion, the ministry has said.

More from The Daily Star

 

Iran has agreed to supply 2 million litres of diesel a day to neighbouring Iraq, Iran's oil ministry news service Shana has said.

More from Reuters

 

Egyptian inflation has leapt as a sliding local currency pushes up food prices, badly hurting the poor who are suffering most during the country's economic, political and security crisis.

More from Reuters

 

But despite this, Egypt has rejected the idea of a stop-gap fund from the IMF.

More from Reuters

 

Qatar has discovered a small offshore field containing about 2.5 trillion cubic feet of natural gas, the country's first gas find since 1971.

More from Reuters

 

Companies and business

Sharjah Commerce and Tourism Development Authority, or SCTDA, released the tourism statistics for Year 2012 on the sidelines of the ITB Berlin on Saturday citing tremendous and continuous growth of Sharjah’s tourism sector.

More from Khaleej Times

 

Emirates NBD is planning to double its lending to small and medium enterprises, or SMEs, in 2013 compared to last year and expects up to 15 per cent growth in retail revenues.

More from Khaleej Times

 

Bahrain Air staff that lost their jobs when the Gulf state’s second airline folded last month are in line for a combined BHD2.2m (US$5.8m) payout.

More from Arabian Business

 

Authorities in Saudi Arabia are moving closer to introducing a two-day weekend for the private sector, which would bring the working week in line with the kingdom’s public sector employees.

More from Arabian Business

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Executive Staff


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