Middle East Business Review – 11 Apr

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

UAE Finance Minister rules out income tax imposition

The UAE’s finance minister has rebuffed reports the government has plans of imposing income tax on individuals or companies to fund any fiscal deficit. Click here to read more…

Saudi economy grew 6.6% in Q4 last year

Saudi Arabia’s gross domestic product (GDP) grew 6.6% in the fourth quarter from a year earlier on additional government spending and higher oil prices, a Bloomberg report suggested citing the Central Department of Statistics and Information’s website. Click here to read more…

Lockheed eyes more Gulf defence deals amid US-Iran tensions

An executive of Lockheed, one of the biggest US weapons maker, said on Wednesday he expects more sales of anti-missile interception systems in the Gulf amid a potential military confrontation between US-Israel and Iran. Click here to read more…

Japan tightens noose on Iranian oil importers

Japanese insurer P&I club has instructed ship owners to alert the maritime insurer in advance of any plans to transport Iranian oil and petrochemicals that breach US-led sanctions on Tehran. Click here to read more…

Libyan NTC suspends former rebel handouts amid widespread fraud

Libya’s interim government has announced it is ceasing cash payments to former rebels following revelations of widespread fraud worth hundreds of thousands of Libyan dinars. The post-Gaddafi government had been making payments to civilians-turned-fighters who joined the rebellion against former leader Muammar Gaddafi. Click here to read in detail…

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