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IMF urges Bahrain to cut spending and introduce tax

Bahrain needs to slash current spending by curbing subsidies and introduce taxes to diversify its sources of income and achieve a balanced budget ...

Kuwait’s inflation rate stands at 5.9 pct

The latest official figures have shown Kuwait's inflation rate running at 5.9 percent year on year, the National Bank of Kuwait (NBK) said Saturday. ...

Gulf Arabs to boost Oman’s tourism 11 percent in 2009

Oman will see an increase of increase of about 11 percent in tourists this year – reaching a record total of some two million visitors – thanks to Gulf residents looking for cheaper holidays in the region, tourism officials ...

European, Asian investors ‘buy into Mideast sukuk’

Saudi Arabia’s Islamic Development Bank has sold $850mn five-year sukuk at 77 basis points over US treasuries European and Asian ...

Saudi economy set for recovery in fourth quarter

 Saudi Arabia’s economy will see a recovery in the fourth quarter “barring any other major public financial events at family businesses,” Riyadh-based ...

Dubai Metro ready to roll

Dubai’s Metro opens tomorrow, 09-09-2009, with 10 stations operational on the Red line. The 19 stops that are not opening tomorrow should be operating by February next year ...

Syria aims at increasing phosphate production

Local consumption of phosphate in Syria amounts to 600 to 700 thousand tons. It is mainly used at the Homs fertilizer factory to manufacture ...

High fiscal surplus slashes Oman’s debt

A large cumulative fiscal surplus caused by strong oil prices and higher gas earnings slashed Oman's debt by more than 25 per cent in five years and the debt ...

Kuwaitis top real estate investors in Jordan

Kuwait topped the list of real estate investments in Jordan in the last eight months through investing in 967 projects. Official statistics showed ...

Lebanon’s ACC wins 124-floor Dubai tower deal

Lebanon's Arabian Construction Co (ACC) has won an AED1.46 billion ($397 million) contract in Dubai to build one of the world's tallest towers, the biggest skyscraper deal to be awarded in the emirate since ...

Bahrain Financial Exchange to set up operations at Bahrain Financial Harbour

The Bahrain Financial Harbour Holding Company (BFHHC) today announced that Bahrain Financial Exchange (BFX), the first multi-asset exchange ...

ICT sector drives Egypt economy

Reports have revealed that Egypt’s overall economy expanded by 4.7 percent in the fiscal year through June, driven by the expansion of its ICT sector which grew by 14.6 percent. In the past year, ...
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