Top Economy & Politics News

Lebanon dismisses Israeli warnings over Hezbollah

Lebanese Foreign Minister Fawzi Salukh dismissed as "ravings" on Thursday Israeli threats to target the country's civilian infrastructure if the government gives greater legitimacy to the Shiite militant group Hezbollah. AFP - 21Aug 11:05GMT
Catering Sales To Rise In Dubai Despite Inflation

While consumption pattern may have changed over the years, the rapid modernization of Dubai and the flourishing of the hotels and restaurants sector may have even increased the share of eating out to the total expenditure of the population. Dubai Chamber of Commerce & Industry - 21Aug 10:54GMT
$562 Billion GCC Earnings In 2008

Gulf oil producers are expected to earn a record $562 billion in 2008 as crude prices are projected to remain above $100 and they are pumping at one of their highest levels. WAM (Emirates News Agency) - 21Aug 10:41GMT
Rice Says US, Iraq Close To Security Deal

Washington and Baghdad are "very, very close" to an agreement on the future of US forces in Iraq, US Secretary of State Condoleezza Rice said on a surprise visit to the war-torn country Thursday. AFP - 21Aug 09:09GMT
Diplomatic ties, new army chief top Lebanese Cabinet agenda

Lebanon's government will meet Thursday with two issues high on its agenda; appointing a new Lebanese Armed Forces (LAF) commander and issuing an executive decree to establish diplomatic ties between Beirut and Damascus. The Daily Star - 21Aug 08:51GMT
Bassil vows to cut Lebanese land-line rates further

Telecommunication Minister Jebran Bassil said on Wednesday that the ministry and Ogero, the state-owned land-line company, are planning further cuts on the fixed telephone charges. The Daily Star - 21Aug 08:45GMT
Societies condemn Iran decision

Two political societies have condemned Iran's decision to open two administrative offices on the UAE island of Abu Mousa, saying that it consecrated the occupation of the UAE territory and called for a common Arab stance against the move. Bahrain Tribune - 21Aug 07:19GMT
Bangladeshis 'return to work' after assurances from Kuwaiti ministry

Thousands of Bangladeshi workers of the two cleaning companies, who staged strikes to demand their rights, have returned to work after assurances from the Ministry of Social Affairs and Labour in Kuwait that all their problems would be redressed, says a senior Bangladeshi embassy official. Arab Times - 21Aug 07:00GMT
Rafidain Bank gives 131b dinar loans to retirees

Iraq's Rafidain Bank has granted a total of 131 billion Iraqi dinars in loans to 72,000 retired persons from all over the country in an attempt to improve their standard of living. Aswat Aliraq - 21Aug 06:29GMT
Saudi Arabia top exporter to Abu Dhabi

The General Administration of Customs - Abu Dhabi announced that external trade in July 2008 increased by 36.6 percent over the same period in 2007, highlighting the high-growth trade environment of Abu Dhabi. The Saudi Gazette - 21Aug 06:18GMT

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Major Currencies per USD

Euros *	1.48655	21Aug14:25
Pound Sterling *	1.87547	21Aug14:25

Expressed as 'bid' price per USD except*

Regional Currencies per USD

Algerian Dinar	61.60000	21Aug13:50
Bahraini Dinar	0.37710	21Aug11:50
Egyptian Pound	5.36250	21Aug12:25
Irani Riyal	9575.00000	20Aug19:25
Iraqi Dinar	1185.50000	21Aug07:28
Jordanian Dinar	0.70850	21Aug14:25
Kuwaiti Dinar	0.26730	21Aug13:50
Lebanese Pound	1502.50000	21Aug06:50
Libyan Dinar	1.23684	21Aug05:25
Moroccan Dirham	7.65530	21Aug14:25
Omani Riyal	0.38490	21Aug14:25
Qatari Riyal	3.64070	21Aug14:25
Saudi Riyal	3.75030	21Aug11:50
Sudanese Dinar	234.38500	10Mar05:25
Syrian Pound	51.91417	21Aug05:25
Tunisian Dinar	1.22400	21Aug11:50
UAE Dirham	3.67320	21Aug08:25
Yemeni Riyal	198.70000	21Aug11:50

Expressed as 'bid' price

Saudi Arabia
Foreign Fields
Concerned about food security, the kingdom is scouring the globe for fertile lands in a search that has taken Saudi officials to Sudan, Pakistan and Thailand.

Major Challenge
Inflation is the biggest threat to the planned Gulf Co-operation Council monetary union, the chief economist at Dubai International Financial Centre (DIFC), warned.

Iraq
Embracing Iraq
King Abdullah of Jordan was the first Arab leader to travel to Baghdad since 2003, where he urged Arab states to re-engage with Iraq.

Company Ranking

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

	Company	Country	Market Capital ($mil)
1	Saudi Basic Industries Corporation	Saudi Arabia	100,134
2	Saudi Telecom	Saudi Arabia	34,980
3	Al Rajhi Bank	Saudi Arabia	32,644
4	Emirates Telecommunications Corporation	UAE	29,910
5	Industries Qatar	Qatar	27,126
» View Full List

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