France Telecom announced that it is acquiring a stake in Iraqs third-largest mobile phone operator Korek Telecom.
France Telecom acquires stake in Iraq mobile operator
Technology
Jordan revises its 2011 budget plan
Jordan revised its 2011 budget which saw state spending increase to US$8.9 billion to cover higher welfare costs.
Saudi Arabia to spend US$155 billion in 2011
Saudi Arabia plans to spend US$154.7 billion in 2011 on infrastructure and education to spur growth in the countrys economy.
GCC aid is unlikely to immediately affect ratings on Bahrain and Oman
Standard & Poors Ratings Services said that ongoing political tensions in the Kingdom of Bahrain (BBB/Watch Neg/A-3) and Sultanate of Oman (A/Watch Neg/A-1) remain a significant issue for the credit standing of both sovereigns. This is despite the Gulf Cooperation Councils (GCCs) March 10 announcement of a US$20 billion economic aid support package over ten years, to be shared equally between the two governments.
Dubai's 2011 deficit cut to US$1 billion
Dubais government approved a 2011 budget that sees the budget deficit cut to US$1 billion due to the authorities continuing to cut spending.
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