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Syria businesses hurting but economy fails to squeeze AssadJoseph Bahri is determined to keep his pharmaceuticals factory in Damascus open, even though he’s running out of key ingredients and can’t afford to import more.
dailystar.com.lb | 18-May-2012 12:03
Bank of Tokyo-Mitsubishi freezes Iran transactions
Bank of Tokyo-Mitsubishi UFJ, which handles most of Japan’s payments for oil imports from Iran.
dailystar.com.lb | 18-May-2012 11:48
Trade logistics performance slows down amid recession: World Bank
Progress in trade logistics performance slowed down over the last two years amid the global recession.
dailystar.com.lb | 18-May-2012 11:33
Turkish sales of gold to Iran soar as sanctions bite
Turkish gold sales to Iran in March soared over 30 times and gold companies said Iranians were turning to gold for savings.
dailystar.com.lb | 18-May-2012 00:12
Libya approves Islamic banking law -official
Libya has approved an Islamic banking law that will introduce sharia-compliant banking in the North African country, a member of the ruling NTC said on Thursday.
dailystar.com.lb | 17-May-2012 23:57
Syria sugar refineries paralyzed by crisis
Escalating violence in Syria has slowed sugar refining to a virtual standstill, with smuggling set to rise as Western sanctions hobble trade finance.
dailystar.com.lb | 17-May-2012 12:01
Egypt's cabinet approves new budget - minister
Egypt's government submitted its final draft budget for 2012/2013 to the state's military rulers on Wednesday, increasing spending by 17.7 billion Egyptian pounds.
dailystar.com.lb | 17-May-2012 00:11
Syria raises price for scarce diesel
Syria has raised the price of state subsidised diesel by a quarter, after doubling electricity prices, as a shortage due to reduced imports threatens industry.
dailystar.com.lb | 16-May-2012 23:56
Kuwait risks exhausting oil savings by 2017 - IMF
Kuwait will have exhausted all its oil savings by 2017 if it keeps on spending money at the current rate, the International Monetary Fund said in a report published on Tuesday.
dailystar.com.lb | 16-May-2012 00:11
Dubai feels only moderate impact from Iran sanctions
Dubai’s economy has felt only a modest impact on trade from international sanctions against Iran so far, the head of the emirate’s government advisory council said Monday.
dailystar.com.lb | 15-May-2012 12:12
Middle East investors slowly wake up to Africa
Flush with cash from oil and stuck with few options for growth in developed markets, Middle East investors are increasingly looking to nearby Africa.
dailystar.com.lb | 14-May-2012 12:10
Saudi Arabia calls for oil to be priced at $100 a barrel
Top crude exporter Saudi Arabia wants an oil price of around $100 a barrel and would like to see global inventories rise before demand picks up.
dailystar.com.lb | 14-May-2012 11:55
Jordan plans price rises, taxes to slash deficit
Prime Minister Fayez al-Tarawneh said Sunday Jordan faced an economic crisis and he plans to raise prices and taxes.
dailystar.com.lb | 14-May-2012 11:40
Saudi says $100 per barrel great price for oil
Top oil exporter Saudi Arabia sees $100 per barrel as a great price for crude, Oil Minister Ali al-Naimi said on Sunday.
dailystar.com.lb | 13-May-2012 12:12
Syria central bank chief says reserves steady
Syria’s foreign currency reserves are intact and the currency is holding steady even after more than a year of conflict that is weakening the economy.
dailystar.com.lb | 12-May-2012 12:01
Shell welcomes Qatar as a "major" investor
Royal Dutch Shell welcomes Qatar as a "major" investor following a report saying that the Gulf state's sovereign wealth fund was planning to buy a 3-5 percent stake.
dailystar.com.lb | 11-May-2012 12:03
Experts call for joint action to assist Arab states in need
A new joint cross-border Arab initiative should be launched to assist the floundering economies of states in transition to democracy.
dailystar.com.lb | 11-May-2012 11:48
Border clashes strangle South Sudan economy
Weeks of brutal conflict with its arch-rival to the north have exacerbated South Sudan’s deep economic problems.
dailystar.com.lb | 11-May-2012 11:33
OPEC says oil plentiful, supply exceeds needs
OPEC is pumping enough oil to keep world markets more than satisfied and oil prices have been high largely due to geopolitical risk.
dailystar.com.lb | 11-May-2012 11:18
Saudi loan seen unlikely to cut Egypt T-bill costs
Egypt secured a long-awaited $1 billion loan from Saudi Arabia, but the funds are probably too little and too late to take pressure off government finances and bring down its borrowing costs soon.
dailystar.com.lb | 11-May-2012 00:12
Islamic repo agreements struggle for traction
Islamic repurchase agreements may struggle to gain wide acceptance as a tool for financial institutions because the industry lacks clear rules governing their use.
dailystar.com.lb | 10-May-2012 23:57
Iran's GTC buys at least 50,000 T Brazil raw sugar
Iran's Government Trading Corporation (GTC) bought at least 50,000 tonnes of Brazilian raw sugar for July shipment, European trade sources said on Thursday.
dailystar.com.lb | 10-May-2012 23:42
Saudi Arabia breaks new ground: trading oil
Saudi Arabia begins trading oil for the first time.
dailystar.com.lb | 10-May-2012 12:04
Iran hopes private oil exporters will dodge sanctions
Iran has authorized private Iranian exporters to sell up to 20 percent of its crude exports in a move intended to help skirt international sanctions.
dailystar.com.lb | 10-May-2012 11:49
Syria buys grain via Lebanon to circumvent sanctions
Syria is importing significant volumes of grain via Lebanon to work around Western sanctions and secure vital supplies.
dailystar.com.lb | 10-May-2012 11:34
Emirates takes fresh run at Berlin slots
Airline Emirates took a new approach in its long-running battle to secure slots at Berlin and Stuttgart airports.
dailystar.com.lb | 10-May-2012 00:13
New Egypt budget would boost spending by 15 pct
Egypt's Finance Ministry has submitted a draft budget to the cabinet that would increase spending by 15 percent in the year beginning on July 1.
dailystar.com.lb | 09-May-2012 23:58
Saudi's Alwaleed Rotana to move to Bahrain: report
Saudi tycoon Prince Alwaleed bin Talal has signed agreements with Bahrain to move his Rotana news and entertainment company from Cairo to the protest-hit Gulf state.
dailystar.com.lb | 09-May-2012 12:04
Sanctions-hit Iran accepts Chinese yuan in exchange for oil
Iran is accepting yuan for some of the approximately $20 billion worth of crude the OPEC member supplies to its main client, China, annually.
dailystar.com.lb | 09-May-2012 11:49
Sanctions block Syria's vital grain trade
Syria is finding it increasingly hard to buy grain on international markets because sanctions have blocked its access to trade finance, while growing numbers of its citizens are struggling to obtain food after more than a year of conflict.
dailystar.com.lb | 09-May-2012 00:13
Saudi Arabia says should aim for 41 GW solar by 2032
Saudi Arabia should install much more solar power over the next 20 years than any country has managed so far while building around 21 gigawatts (GW) of nuclear reactors, the body responsible for planning the Saudi energy mix said on Tuesday.
dailystar.com.lb | 08-May-2012 12:12
Saudi oil minister says will meet customers' needs
Top oil exporter Saudi Arabia says it will satisfy its customers needs whatever they may be.
dailystar.com.lb | 08-May-2012 11:57
Kuwait refers $800 mln Shell deal to judiciary
Kuwait has referred a $800 million gas contract between state-owned Kuwait Oil Co. and Shell to the public prosecution to investigate suspected irregularities, a newspaper report said on Tuesday.
dailystar.com.lb | 08-May-2012 11:42
Orascom lifts Egypt, most Gulf bourses down
Orascom Construction Industries gained Monday ahead of an expected demerger approval, helping lift Egypt’s bourse.
dailystar.com.lb | 08-May-2012 11:27
Qatar energy min says Mid East oil supply reliable
Qatar's energy minister said on Monday oil production in the Middle East remains reliable and there is no shortage of supply in the market.
dailystar.com.lb | 07-May-2012 12:13
Arabtec-TAV group in final talks for airport contract
The Abu Dhabi government has identified an Arabtec Holding consortium that includes Greek and Turkish firms as the preferred bidders for an estimated $3 billion contract to expand the oil-rich emirate's international airport.
dailystar.com.lb | 06-May-2012 12:10
Iran may lose 9.5 percent of oil contracts as Asian buyers cut
Iran is poised to lose at least 192,000 barrels a day of crude-supply contracts, or about 9.5 percent of its global exports.
dailystar.com.lb | 05-May-2012 12:08
Oil price drops below $100 for first time since February
The price of oil dropped below $100 per barrel for the first time since February following a disappointing U.S. jobs report.
dailystar.com.lb | 05-May-2012 11:53
Losing streak sees Dubai shares fall for 7th day
Dubai’s benchmark stock index retreated for a 7th day in its longest losing streak since 2009 after construction company Drake & Scull International made a dividend payment and as oil fell in NY.
dailystar.com.lb | 04-May-2012 12:07
Syrian economy spirals downward as deposits, loans plunge
Syria’s economy is collapsing. Deposits fell by an average of 35 percent in 2011 at Bank of Syria and Overseas SA, Bank Audi Syria and Banque Bemo Saudi Fransi.
dailystar.com.lb | 04-May-2012 11:52
Egypt misses T-bill sale target, yields rise
Average yields on Egyptian treasury bills rose at an auction and the central bank sold fewer than the 5 billion Egyptian pounds ($826.9 million) of bills it had offered.
dailystar.com.lb | 04-May-2012 00:05
Saudi Telecom to reach 500,000 homes with fibre in 2012
Saudi Telecom Co (STC) aims to connect 500,000 homes in the kingdom with optical fibre for highspeed broadband.
dailystar.com.lb | 03-May-2012 23:50
Turkey attacks S&P for warning about outlook for economy
Turkish PM Recep Tayyip Erdogan denounced Standard and Poor's rating agency, saying its downgrading of Turkey's outlook was clouded by an "ideological approach."
dailystar.com.lb | 03-May-2012 23:35
Syria economy faces 'significant' contraction: IMF
Syria's economy is expected to contract significantly in 2012 due to 14 months of violence and sanctions.
dailystar.com.lb | 03-May-2012 00:11
Etihad Airways takes stake in Aer Lingus
Fast-growing Etihad Airways has taken a nearly 3 percent stake of Aer Lingus as part of a strategy to build closer bonds with the Irish carrier, the Abu Dhabi-based airline said Tuesday.
dailystar.com.lb | 02-May-2012 00:05
Kuwait's Gulf Bank Q1 profit down 25 pct
Kuwait's Gulf Bank posted a 25 percent fall in first-quarter net profit, it said in a statement Tuesday.
dailystar.com.lb | 01-May-2012 12:10