LEBANON IS ON track to achieve a seven per cent growth in GDP in 2009, highlighting the country's continued economic surge and transformation into one of the region's most attractive investment hubs, revealed the Investment Development Authority of Lebanon during a panel discussion held recently at Cityscape Dubai 2009.
SAUDI ARABIA IS firmly commited to the principle of privatisation in the development of its water and power industries. Investment partners from inside and outside the Kingdom will continue to form an essential part of the financial mix to address the huge infrastructure projects that will be necessary over the next two decades.
THE GULF ECONOMIES are poised to recover faster than many of their global counterparts from the financial crisis. However, they should be vigilant against potential asset bubbles in the future, said Masoud Ahmad, Director of the Middle East and Central Asia Department of the International Monetary Fund.
KUWAIT WANTS THE start date of a currency union it agreed to with three other Gulf states delayed beyond January. The official Kuwait News Agency quotes a statement by the Ministry of Finance as saying Sunday the project should be delayed until its "technical" studies are completed.
A REPORT PUBLISHED by the World Economic Forum (WEF) concluded that Bahrain has the fourth most favourable tax regime in the world, out of the 55 leading economies surveyed. The Financial Development Report ranked Bahrain 27th, overall, in terms of its financial system, up from 28th in 2008. It concluded that Bahrain ?shows competitive advantages in the quality of its institutional environment, including a substantially liberalized financial sector and solid corporate governance.?
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