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MidEast, Africa hoteliers downbeat on H2, says survey

The Middle East and Africa was the only region in the world to register negative sentiment about hotel performance in the first half of the year,
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Syria slaps ban on most imports

Syria banned most imports except raw materials and grains, local businessmen said, in a move to preserve foreign currency reserves under
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Kuwait Q1 budget surplus widens to $20bn

Kuwait's budget surplus in the first three months of its 2011-12 fiscal year reached KD5.6 billion ($20.3 billion), larger than a year ago
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Big oil firms may have to give up Iraq gas

Many of the world's biggest energy companies may have to surrender most of the gas from Iraq's southern oilfields to a processing 
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Saudi foreign reserves top $500bn for first time

Saudi Arabia’s foreign reserves surpassed $500 billion for the first time in July, giving the biggest Arab economy scope to carry out
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Arab Spring curbs visa-free travel for citizens

Visa restrictions for citizens of some Arab states have tightened in the wake of the Arab Spring that spurred violent uprisings across the
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Arab billionaire rents London flat for $90,000 a week

A Middle Eastern businessman has signed a lease to rent London’s most expensive property at a cost of £55,000 ($90,000) 
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MENA IPO activity slumps 51% in Q2 – Ernst & Young

Capital markets in the MENA region raised $374.77m through initial public offerings (IPO) in the second quarter of 2011, down 
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54% of MENA firms likely to hire new staff in Q3

More than 50 percent of companies in the MENA region say they were likely to recruit new staff in the next three months, a new survey
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Over 20 Dubai firms keen to IPO

More than 20 companies in Dubai, which has not seen an initial public offering since 2009, would float their shares if market conditions
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Qatar’s Barzan gas project seeks $4.7bn loan

Qatar Petroleum and Exxon Mobil are expecting proposals by the end of August from international, regional and local banks on a $4.7 billion,
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Qatar to invest up to $25bn on tourism to 2022

Qatar will invest $20 billion to $25 billion in tourism infrastructure development over the next 11 years as it prepares to host the 2022
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