Egypt promised on Wednesday to pay $1.5 billion of the $6 billion it says it owes oil firms, hoping the announcement made at an investment conference will revive confidence in an economy battered by nearly three years of political upheaval.
"There is approval to pay $1.5 bil
Charles Russell, a leading full service law firm, has opened a new office in Qatar as part of its Middle East expansion strategy.
The office will provide clients with specialisms in the real estate, construction, banking and sports sectors, advice and representation in litigation
Egypt has postponed any decision on taking a $4.8 billion loan from the IMF as financial aid from Gulf states has given Cairo some breathing space as it starts to conduct economic reforms, Deputy Prime Minister Ziad Bahaa El-Din said on Tuesday.
Bahaa El-Din said Egypt has so far
UAE’s Ministry of Finance (MoF) recently signed an agreement to protect and encourage investments with the Netherlands at the Ministry’s headquarters in Abu Dhabi.
The agreement was signed by Obaid Humaid Al Tayer, Minister of State for Financial Affairs, and Dutch Mi
Iran's draft budget estimates oil exports at around 1.1 million barrels per day (bpd), oil ministry website Shana said on Tuesday, indicating Tehran sees no major recovery in sales next year despite improving relations with the West.
Iran could benefit from very limited sanct
Egypt returned $500 million to Qatar on Dec. 2 after Qatar refused to renew the deposit it had made with Egypt's central bank upon its maturity, an official at the bank told Reuters on Tuesday.
Qatar was one of the few Arab states to support Egypt during President Mohamed Mur
Bahrain's Shura Council members yesterday rejected a parliament bill to scrap monthly fees for foreign workers in low paid jobs.
Public and private sector companies have to pay BD10 ($26.2) for every expatriate on their books or BD5 if they employ less than five, said a repor
Egyptian security forces fired teargas in Cairo's Tahrir Square to disperse anti-government protesters on Sunday, as a new constitution that reinforces the military's political power edged closer to approval.
The draft constitution reflects how the balance of power has sh
Bahrain has vowed to build on its major achievements in implementing recommendations of the Bahrain Independent Commission of Inquiry (BICI).
The Cabinet, chaired by His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, stressed that it will follow up and contin
A leader of a hardline Egyptian Islamist group that fought the state in the 1990s warned that the army had driven the nation to the "edge of a precipice" since he fled the country after President Mohamed Mursi's ouster in July.
The state and Islamists are old foes i