Middle East Business Review – 1 Apr

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A look at today’s financial news and business updates from the Middle East region

YouTube launches UAE version

Google announced the launching of a UAE version of YouTube for users in the seven emirates on Sunday. The new YouTube.co.ae domain came amid the search giant’s moves to consolidate the video platform by building a huge collection of local videos online. Click here to read more…

Dubai real estate gets vital boost thanks to Metro system

Dubai’s Roads and Transport Authority (RTA) said the Dubai Metro project has given a vital boost to the real estate sector of the city by increasing value of land and commercial properties in the vicinity of Metro stations by as much as 7 to 34%. Click here to read more…

Saudi public work projects worth $133bn put on hold

Leading Saudi newspaper Arab News cited an unidentified report on Sunday which said the Gulf Kingdom has put on hold public work projects worth more than SAR500bn ($133bn) across the country, including 166 in major cities. Click here to read more…

Egyptian currency, economy to stabilise this year – economist

A prominent Cairo-based economist has claimed that seeking the controversial IMF loan is the only way to save the Egyptian pound from depreciation this year. Egypt’s currency has lost most of its value since last year’s uprising in January 2011. The country’s foreign reserves have dropped by more than half during the last 11 months. Click here to read more…

Iran set to introduce ‘halal’ Internet next month

The Islamic Republic of Iran has announced it will introduce the first phase of its domestic Internet network by 21 May. The state-run Fars news agency quoted Iranian Minister of Communication and Information Technology Reza Taghipour as saying that the launch of the network is a priority of his ministry in the new Iranian year that started on 20 March. Click here to read in detail…

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