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Oil prices could reach $15 per barrel higher on average by 2025 if investment in the Middle East is shortcoming. A report released by the International Energy Agency (IEA) has warned that $40 trillion and $8 trillion should be invested Read more
The Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank Group, and the chairman of the Saudi-Egyptian Business Council signed a memorandum of understanding (MoU) in Jeddah on Sunday. The MoU is Read more
A report published by the Omani Central Bank on the financial stability of the Sultanate has stated that the banking system in general could resist to “severe shocks” due to the “comfortable capital levels” that the sector possess. Banks in Read more
Lebanese banks are rushing to Iraq despite the lack of security in the country since the American invasion to remove President Saddam Hussein. Although state-owned banks account for 86% of assets and 69% of credits of the market, several banks Read more
Oman has begun the implementation of suggestions forwarded by the International Monetary Fund (IMF) to further regulate its financial stability. The government has decided to create a Supreme Committee for Financial Stability to oversee the Sultanate’s financial stability. At the Read more
Kuwait is likely to fall into a national budget deficit by the end of the decade if it doesn’t cut down on subsidies which accounts for 20 percent of government spending amounting to a rough estimate of $16 billion a Read more
US economic sanctions and that of the European Union’s on Iran, due to its controversial nuclear program, had successfully gotten rid of Iran from the international banking system making it difficult for the country to carry out foreign trade. The Read more
United Arab Emirates (UAE) Minister of State Dr. Sultan Bin Ahmed Sultan Al Jaber has arrived in Egypt to abreast himself with the implementation of projects linked to the $4,9billion framework agreement between the two countries. The agreement is part Read more
Qatar’s Foreign Minster Minister Khalid bin Mohammad Al-Attiyah accompanied with a high ranking delegation arrived in Algeria on Thursday for a three day working visit. He was received by his Algerian homologue, Ramtane Lamamra. Discussions during his stay will be Read more
Oman will be spending more than $50 billion in its five year development project which stretches from 2011 to 2015. The plan is aimed at modernizing and upgrading the country’s infrastructures and bridging it closer to regional countries. Almost $78 Read more