Middle East investors helped to spark a 40 per cent increase in commercial property transactions in the past year in Europe, Middle East and Africa (EMEA), says a Jones Lang LaSalle report.

Standard & Poor's Ratings Services lowered its long-term foreign currency sovereign ratings on the Arab Republic of Egypt to 'BB' from 'BB+', and its long- and short-term local currency ratings to 'BB+/B' from 'BBB-/A-3'.

Higher crude prices and output will likely boost the combined nominal GDP of Gulf oil producers to a record high of more than US$1.1 trillion in 2011 while their economies could fully recover within two years, a semi official study has said.

Cemena Holding Company, a Middle East and North Africa (Mena)-based cement holding company, yesterday said it has signed an agreement with Sinoma CBMI Construction Company Ltd., a subsidiary of Sinoma Group, to commence construction of a cement plant in Syria.

Drake & Scull International (DSI) has announced its partnership with Zamil Group Holding Company in Saudi Arabia.