Economics and policy
Israeli restrictions and closures coupled with the worsening fiscal situation of the Palestinian Authority is causing "lasting damage" to the competitiveness of the Palestinian economy, the World Bank warned on Tuesday.
Toppled president Hosni Mubarak, awaiting trial over his role in the deaths of protesters, believes Egyptians should rally around his Islamist successor and end violent protests, his lawyer said yesterday.
For the first time since 2006, Lebanon recorded a primary deficit after the Cabinet of Prime Minister Najib Mikati raised the salaries of civil servants and military personnel at the beginning of 2012.
Egypt's wealthy benefactor Qatar has dampened speculation of rapid extra funding to help Cairo through a currency and budget crisis, as pressure grows at home on the Islamist government to come clean about the state of the economy.
US President Barack Obama on Monday met Arab American leaders who urged him to deliver a message of hope to the Palestinian people on his Middle East trip this month, even though he has made clear he will not use the visit to launch a new Israeli-Palestinian peace initiative.
Companies and business
The GCC banking sector continues to remain robust, with assets increasing by 11 per cent in 2012 to $1.47 trillion, according to a report.
Saudi Binladin Group, one of the largest construction firms in the kingdom, is currently meeting fixed income investors as it plans to issue a new local currency Islamic bond, or sukuk, four sources aware of the matter told Reuters on Monday.
BankMed has announced net profits for 2012 totaling $126.7 million, up by 7.9 percent from $117.5 million in 2011.
