Standard & Poors 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.
Fujitsu Technology Solutions has appointed Yaman Abosaleh as Director, Sales and Operations in Saudi Arabia. Abosaleh takes on the responsibility for strategy development and implementation, and will drive Fujitsus enterprise business in the Kingdom.
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.
More than 95 per cent of small businesses in the region lack a presence on the internet, says a senior executive at Google.
