Algeria

Algeria's Sonatrach in Talks with Shell over Joint Projects
16/08/2018 05:11 GMT

Algerian state energy firm Sonatrach is in talks with Shell over developing joint projects in Algeria, a senior Sonatrach official said on Wednesday. "Our aim is definitely to rise our reserves by a... More


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Bahrain

Bahrain’s GCC Allies Reviewing Aid Plan to Repair Its Finances
19/08/2018 09:26 GMT

Bahrain’s GCC allies met to review a financial support program designed to help the country repair its finances and stave off a possible currency devaluation that could roil regional markets. The... More


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Egypt

Egypt Approves Saudi ACWA Power Offer for Wind Power Project
16/08/2018 09:20 GMT

The economic committee of ministers approved the offer by the Saudi company ACWA Power to establish wind farms with capacity of 500 MW in the Gulf of Suez and investments up to $600m. Government... More


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Iran

Iran Oil Minister Names New Internal Auditing Head
19/08/2018 09:30 GMT

Through a decree issued by Bijan Zanganeh, Iranian Minister of Oil, Zarrin Kavousi-Nasab has been appointed as the new Head of Internal Auditing of the National Iranian Oil Company (NIOC), replacing... More


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Iraq

Trade Bank of Iraq Puts Turkish Bank Acquisition Plans on Hold
19/08/2018 09:28 GMT

The state-owned Trade Bank of Iraq (TBI) has reportedly put plans to buy a Turkish commercial bank on hold because of the fall in the Turkish lira. TBI chairman Faisal al-Haimus told Reuters that... More


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Kuwait

Kuwait’s Current Account Surplus at 3-Year High
19/08/2018 04:46 GMT

Kuwait’s current account registered its highest surplus in three years during the first quarter standing at KD1.7 billion (US$5.618 billion) - about 17 % of quarterly GDP - up from KD1.2 billion... More


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Libya

Production at Libya's Sharara Recovers
16/08/2018 05:06 GMT

Libya's giant Sharara oilfield is producing 260,000 barrels per day (bpd) after the restart of a control station that had been closed due to the kidnapping of two workers, an engineer at the field... More


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Oman

Alloy Wheel Manufacturing Plant to be Set Up in Sohar
19/08/2018 04:46 GMT

Sohar Aluminum has partnered with their latest downstream customer, Synergies Castings LLC, the leading manufacturer of aluminum alloy wheels in India. The agreement will begin with the construction... More


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Qatar

Qatar Economy Shows Signs of Strength in Recent Months
19/08/2018 04:46 GMT

Qatar’s economy has shown signs of strength in recent months, a new report says and notes that the country’s construction activity increased significantly as preparations continued for the 2022 World... More


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Saudi Arabia

Saudi Sabic Partners with US Firm to Develop Breakthrough Products
19/08/2018 09:15 GMT

Saudi Arabia’s Sabic, a global leader in the chemical industry, has partnered with US-based innovation and product design firm Nottingham Spirk to accelerate innovations with speciality materials... More


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UAE

AlixPartners to Oversee Separation of AGHF from UAE's Abraaj Group
19/08/2018 06:36 GMT

Gobal consulting firm AlixPartners said it has been appointed by investors of the Abraaj Growth Markets Health Fund (AGHF) to oversee the fund's separation from the UAE-based Abraaj Group to ensure... More


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Yemen

Egypt Voices Concern over Red Sea Security after Yemeni Houthi Attack
14/08/2018 06:58 GMT

Egypt’s president said on Monday Cairo was deeply concerned about security in the Red Sea following an attack by Yemen’s Houthis on two oil tankers that forced Saudi Arabia to suspend crude shipments... More


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General News

Bahrain’s GCC Allies Reviewing Aid Plan to Repair Its Finances
19/08/2018 09:26 GMT

Bahrain’s GCC allies met to review a financial support program designed to help the country repair its finances and stave off a possible currency devaluation that could roil regional markets. The... More


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