EconSource: World Bank Suspends Yemen Projects
A World Bank official in Yemen said, “As of Thursday, the World Bank will suspend funding projects in Yemen due to the dangerous political and security situation.” The World Bank only recently pledged $400 million to support three new development projects in Yemen. The decision came after a thorough review of the impact on programs of recent political and security developments, which concluded that the situation in Yemen had deteriorated to the degree that the World Bank was unable to exercise effective management over its projects.

[World Bulletin, The Financial, 3/12/2015]

Egypt draws foreign investment as economic reforms kick in

More foreign companies are pledging to invest in Egypt, as the country begins to reap the benefits of economic reforms introduced over the past nine months under President Abdel Fattah al-Sisi. Egyptian officials and business leaders are now looking to build on those early successes. The reform programs aimed at jump-starting and strengthening the economy largely hinge on keeping domestic security under control, providing sufficient assurance to investors wanting to stay, enter, or return to the country. [WSJ, 3/12/2015]

Saudi Arabia construction boom ‘driving growth, creating jobs’

According to experts, Saudi Arabia is undergoing one of the world’s largest construction booms, which would drive economic growth, boost local businesses, and create jobs for citizens. In 2014, construction showed the highest growth in the non-oil sector (6.7 percent). With an estimated SR750 billion spent in construction planned over the next two years, Saudi Arabia is likely to remain the dominant construction market in the Gulf Cooperation Council. [Arab News, 3/12/2015]

Qatar most attractive for doing business

According to International Bank of Qatar (IBQ), Qatar’s “sizeable” investment opportunities make it one of the most attractive markets for doing business and the government is committed to developing infrastructure despite the falling crude. Reportedly, Qatar’s banking sector has also become the fastest-growing in the region and has continued to show strength. [Gulf Times, 3/12/2015]

Also of interest:
Gulf countries push for diversification as oil prices drop | Gulf News
Egypt’s workers fear repeat of past woes in investment drive | AP
Egypt Economy: Finally on the right track? | Daily News Egypt
Libya exports three oil tankers from western Mellitah port | Reuters, Libya Monitor (subscription)
Oman’s crude oil production in February touches 26.8 million barrels | Zawya