Top Economy & Politics News

Sleiman chastises critics of Saudi role in Lebanon

Lebanese President Michel Sleiman on Monday condemned "any form" of criticism against Saudi Arabia and thanked the kingdom for its support for Lebanon. The Daily Star - 02Dec 08:08GMT
Axing of jobs in the Gulf adds to fears about recession hitting Lebanon

Economists and experts on Monday were divided on the impact of the global recession on Lebanon with some saying that the country is still immune from the crisis while others expect lower Gross Domestic Product (GDP) growth in 2009. The Daily Star - 02Dec 08:07GMT
Lebanese deficit falls despite drain at power company

Lebanon's Finance Ministry said on Monday that the budget deficit in the first 10 months of the year fell slightly despite the mounting losses of Electricite du Liban (EDL). The Daily Star - 02Dec 08:07GMT
Lebanese divided over thaw in ties with Damascus

As Lebanon's fractious relations with Syria begin to thaw and politicians start gearing up for next years elections, an increasing number of public figures are traveling on visits to Damascus to meet senior political figures there. The Daily Star - 02Dec 08:04GMT
UK-Syria cultural exchange helps build bridges

Dozens of world-class ceramics are on display in the cavernous Khan Assad Basha, an atmospheric stone caravanserai in Damascus's old souq. Financial Times - 02Dec 08:03GMT
Israel turns away Libyan aid boat bound for Gaza

The Israeli navy confronted and turned back a Libyan ship carrying 3,000 tonnes of food and other supplies to the Gaza Strip yesterday. Financial Times - 02Dec 08:02GMT
Dollar Mixed In Asia After Wall Street Slump

The dollar was mixed in Asian trade Tuesday after an overnight plunge on Wall Street and a string of bad economic news fuelled investor fears that an end to the global recession is nowhere in sight. AFP - 02Dec 08:00GMT
Markets Plunge On US Recession Data, Global Gloom

Stock markets around the world took another drubbing, falling sharply on news that the US economic recession began a year ago, as a deluge of weak data pointed to a severe global slowdown. AFP - 02Dec 07:57GMT
New Gaddafi-West ties to cost Libya dearly

The past year has seen a rehabilitation of Libya in the eyes of the international community, capped by a September meeting between US Secretary of State Condoleezza Rice and Libyan leader Muammar Gaddafi in Libya, and fuelled by billions of dollars in compensation to American victims of Gaddafi-sponsored acts of terrorism. Gulf News - 02Dec 07:39GMT
US set to hand over Green Zone to Iraq

Many Iraqis cannot wait until the Green Zone in Baghdad is turned over to Iraqi forces, as a part of the implementation of the newly adopted security agreement between the US and Iraq. Gulf News - 02Dec 07:37GMT

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Radio

Tim Fox, Emirates NBD economist, and Jason Goff from Emirates NBD treasury, talk about the economic outlook in Europe and the Middle East.
Dubai Eye - 30 Nov 2008

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Research

Why a Dirham Standard is the Right Standard for the UAE
Special Contributions - 27 Nov 2008

AlphaOmegaPi discusses why a Dirham standard is the right standard for the UAE. Reinventing the monetary architecture of the country will not only lead to more domestic empowerment, but it will also lead to an optimized use of foreign inflows, and a far more productive deployment of USD revenues, from oil or other sources. It will allow the governments of the UAE to separate AED expenditures from USD revenues, thus making room for USD savings and it will also create a local source of money and wealth creation, and will balance the country’s dependence on foreign currency inflows.

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Community Buzz

Stories in Money

Most read stories by Community in the last 24 hrs

1	Bursting Bubble
2	Abu Dhabi Eyes Stake In Emirates For Bailout Cash
3	Salary Increases To Fall To 9% in GCC
4	10-Day Holiday For UAE Government Sector
5	Abu Dhabi to Reveal 5-year Economic Strategy Soon
6	Kuwait Emir Accepts Government Resignation
7	Bahrain To Outperform US, Europe In '09
8	Big Spenders
9	Iraq faces economic crunch- VP
10	Inflation Rate In GCC To Decline In 2009

Companies in Money

Most viewed companies by Community in the last 24 hrs

Company Name	Country	Industry
Aabar Investments	UAE	Investment Firms and Funds
Nakheel	UAE	Landlords and Developers
Saudi Binladin Group	Saudi Arabia	Construction and Design
Abu Dhabi Investment Council	UAE	Investment Firms and Funds
Consolidated Contractors Company	Overseas	Construction and Design
Dubai Islamic Bank	UAE	Banking
Barwa Real Estate Company	Qatar	Landlords and Developers
Saudi Telecom	Saudi Arabia	Telecommunications Services
Qatar Investment Authority	Qatar	Investment Firms and Funds
Qatari Diar Real Estate Investment Company	Qatar	Landlords and Developers

Projects

Most viewed projects by Community in the last 24 hrs

Project Name	Country	Sector
Dubai RTA - Dubai Metro - Purple Line	UAE	Infrastructure
Emirates Aluminium (EMAL) - Smelter Complex	UAE	Industry
Qatar Foundation - Sidra Hospital	Qatar	Real Estate
IPIC - Abu Dhabi Crude Oil Pipeline (ADCOP)	UAE	Oil and Gas
KNPC - Al Zour Refinery	Kuwait	Oil and Gas
Abu Dhabi Municipality - Salam Street and Mina Road Development	UAE	Infrastructure
Qatalum Aluminum Smelter	Qatar	Industry
Nakheel - Dubai Waterfront	UAE	Real Estate
Ras Tanura Integrated Refinery and Petrochemicals Complex	Saudi Arabia	Oil and Gas
ADCO - SAS Field Development	UAE	Oil and Gas

Blogs

Most read blogs by Community in the last 24 hrs

1	Off topic – The National - Human testing
2	How Does the Current US Recession Size Up?
3	It's not enough for Muslims to be revolted by terror
4	A SWOT Analysis On Real Estate
5	No proxy for GCC single currency

Major Currencies per USD

Euros *	1.25849	02Dec08:25
Pound Sterling *	1.48346	02Dec08:25

Expressed as 'bid' price per USD except*

Regional Currencies per USD

Algerian Dinar	68.90000	01Dec05:25
Bahraini Dinar	0.37690	02Dec06:25
Egyptian Pound	5.51650	02Dec08:25
Irani Riyal	10105.00000	01Dec18:50
Iraqi Dinar	1173.60000	02Dec04:50
Jordanian Dinar	0.70850	02Dec08:25
Kuwaiti Dinar	0.27530	01Dec21:50
Lebanese Pound	1502.00000	01Dec18:50
Libyan Dinar	1.31260	02Dec05:25
Moroccan Dirham	8.77970	02Dec08:25
Omani Riyal	0.38500	02Dec06:25
Qatari Riyal	3.64160	01Dec21:50
Saudi Riyal	3.74500	02Dec00:25
Sudanese Dinar	234.38500	03Nov05:25
Syrian Pound	47.15300	02Dec05:25
Tunisian Dinar	1.40150	02Dec04:50
UAE Dirham	3.67300	02Dec07:25
Yemeni Riyal	200.55000	01Dec21:50

Expressed as 'bid' price

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Peace Initiative
Why is the Arab peace plan, which was still-o in 2002, receiving sudden attention these days?

Kuwait
Turbulent Times
The emir of Kuwait accepted the resignation of the country's government but asked the sitting prime minister to form a new cabinet.

$1tr Economic Bloc
GCC economies surged by about $90 billion in 2007 and are projected to gain $277bn this year to hit $1 trillion.

Company Ranking

Ranked by Market Cap | No. of Employees | Total revenue

	Company	Country	Market Capital ($mil)
1	Privatization Holding Company	Kuwait	291
2	Arab International Company for Education and Investment	Jordan	209
3	Saudi Printing and Packaging Company	Saudi Arabia	208
4	National Leasing Holding	Qatar	140
5	Educational Holding Group	Kuwait	128
» View Full List

Related Information

Macroeconomic Research

Country Analysis from EIU

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