Algeria

Call for Efforts to Boost Algeria's Mining Sector
15/05/2012 09:10 GMT

The Algerian Minister of Energy and Mining Youcef Yousfi deplored the backwardness of the national mining industry, and urged further efforts to boost the sector. "Algeria has considerable mining... More


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Barhrain

Rise in Bahraini VCBank Q1 Profit
17/05/2012 09:14 GMT

Bahrain-based regional Islamic investment bank, Venture Capital Bank (VCBank), has reported a net profit of US$8 million for the quarter ended March 31, 2012, compared with a loss of US$2.9 million... More


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Egypt

Fall in Egypt's Palm Hills Q1 Loss
17/05/2012 07:46 GMT

Egypt's Palm Hills, the country's second-biggest listed developer, said it had narrowed its first-quarter net loss as operating costs declined. The luxury real estate developer posted a net loss of... More


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Iran

Turkish Businesses Seek Iran Tax Reduction
17/05/2012 06:03 GMT

Turkish businesses will ask Iran to drop transit taxes that cost US$400 million last year, seeking to lift obstacles to double trade between the countries, Sabah reported. Iran is taxing only Turkish... More


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Iraq

Iran, Iraq to Resume Talks on Joint Oil Projects
16/05/2012 09:23 GMT

Iran and Iraq will start new round of talks in Tehran on 26 May on two main issues including development of Sohrab Oil Field and establishing a joint venture oil company. A joint technical and... More


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Kuwait

Fall in Kuwaiti Agility Q1 Profit
17/05/2012 08:01 GMT

Kuwait's Agility, the logistics firm facing US fraud charges, reported an 8.1% drop in first-quarter profit as costs rose faster than revenue. The firm made a profit of 7.1 million dinars (US$25.4... More


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Libya

Azerbaijan Planning Refinery, Petrol Stations in Libya
16/05/2012 04:27 GMT

Azeri state energy company SOCAR plans to build an oil refinery and a chain of petrol stations in Libya under its own brand, the Azeri Foreign Ministry said. Azerbaijan's ambassador handed SOCAR's... More


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Oman

Oman Oil Inks Jet Fuel Deal with UAE’s Etihad
17/05/2012 04:57 GMT

Oman Oil Marketing Company (omanoil) has signed an aviation fuel agreement with Etihad Airways, the world's leading airline, to become the carrier's sole provider in the Sultanate which flies to 84... More


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Qatar

Qatar's North Field Gas Reservoir Study to Complete in 2013
17/05/2012 09:14 GMT

A reservoir study of Qatar's North Gas Field Development, the world's largest single gas deposit, will be completed next year and will give the country's energy ministry "valuable data" on how to... More


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Saudi Arabia

Expatriates in Saudi Arabia to Get More Rights
17/05/2012 09:12 GMT

Expats in Saudi Arabia are to be given improved employment rights under changes to the GCC kingdom's sponsorship system, a senior government official was quoted as saying. Ahmed Al-Hemaidan,... More


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UAE

UAE Keeps Position as Top Market for Japan
17/05/2012 09:15 GMT

The UAE maintained its position as the largest market for Japanese products in the Middle East in the first quarter of 2012 after a sharp rise over the same quarter of last year, according to... More


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Yemen

IFAD Allocates Fund for Yemen Support Program
16/05/2012 05:36 GMT

The International Fund of Agricultural Development (IFAD) has allocated US$27 million to finance a new support program for Yemen in cooperation with European Union (EU). In addition, IFAD presented a... More


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General News

MENA FATF Held in Doha
16/05/2012 07:41 GMT

The Middle East and North Africa Financial Action Task Force (FATF) against Money Laundering and Terrorism Financing began its meeting Monday, 14 May 2012 under the chairmanship of HE the Deputy... More


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