Exterior Bank of Algeria CEO Named
28/06/2016 08:47 GMT

Said Kessasra has been installed Monday as the Chief Executive Officer of the Exterior Bank of Algeria (BEA), replacing Mohamed Loukal, recently appointed as the governor of the Bank of Algeria. In... More

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Bahraini Investcorp Agrees to Buy Coresec Systems
28/06/2016 07:12 GMT

Investcorp, a global provider and manager of alternative investment products, together with its portfolio company SecureLink Group NV, announced on Monday an agreement to acquire one of Scandinavia’s... More

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Egypt Starts Loan Talks with IMF
28/06/2016 08:56 GMT

Egypt’s central bank has begun negotiations with the International Monetary Fund over a US$5 billion loan, a minister from Egypt’s economic group of ministers said. The negotiations, which started... More

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Zanganeh Interviewed on Iran's Oil Industry
28/06/2016 10:46 GMT

In an interview with Reports, Iranian Oil Minister Bijan Zanganeh spoke of various matters in Iran's oil industry. The detailed interview can be found below: Iran & Sanctions When I took office at... More

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Crescent's Iran Hearing Delayed, Kurdistan Case to be Decided This Year
28/06/2016 07:14 GMT

Crescent Petroleum Co., the United Arab Emirates-based oil and natural gas producer, expects its US$11 billion arbitration case against the Kurdistan Regional Government in Iraq to be decided later... More

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Investments in UK High-Quality & Long-Term: Kuwaiti Minister
28/06/2016 08:39 GMT

Kuwaiti Finance Minister Anas Al-Saleh said that the country’s investments in Britain were “high-quality and long-term,” KUNA reported. His message was delivered to a Cabinet meeting which discussed... More

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Libyan Unity Govt. Condemns Attack near Eastern Oil Terminals
20/06/2016 04:10 GMT

Libya's UN-backed unity government condemned an attack by a newly-formed militia group on eastern military forces close to key oil facilities, as clashes resumed on Sunday for a second day. Fighting... More

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1st Phase of Major Oil Storage Terminal in Oman to Launch in 2019
28/06/2016 10:20 GMT

A contract for initial construction work on a major crude oil storage terminal planned at Ras Markaz on the Sultanate’s Wusta coast could be floated as early as before the end of this year, according... More

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Asian Shipyard to Bag Qatar Petroleum Deal
28/06/2016 08:36 GMT

An Asian shipyard is poised to win a contract from state-owned Qatar Petroleum to carry out engineering, procurement and construction of a new platform topsides for the North Field Alpha complex off... More

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Saudi Arabia

Development Projects Unveiled in Madinah
28/06/2016 09:20 GMT

Saudi government has announced development projects worth SR5.1 billion (US$1.3 billion) in Madinah region including the setting up of new power plants as well as implementation of sanitary drainage... More

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UAE, Iran Business Still Has Place to Improve
28/06/2016 08:28 GMT

Business between the UAE and Iran is yet to pick up despite lifting of sanctions on the Islamic republic earlier this year, experts and Iranian Business Council in Dubai said. “Things have not... More

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Yemen’s Wartime Central Bank Committed to Staying Neutral
12/06/2016 10:03 GMT

As civil war engulfs Yemen, the central bank is so committed to staying neutral that it pays salaries of soldiers on both sides. The bank distributes money to public-sector workers in both government... More

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General News

Revenues Fall in ME Hotel Businesses
28/06/2016 04:37 GMT

The Middle East region's hotels reported negative results in key performance metrics in May, while Africa reported mixed results in the three key performance metrics of occupancy, average daily rate... More

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