Algerian Firms Pen Deals with Companies from 2 African Countries
30/05/2016 08:49 GMT

About twenty agreements have been signed Sunday in Algiers between Algerian private companies and Chadian and Ivory Coast's firms for a global amount of US$145.5 million. The agreements, relating to... More

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Bahrain-Based Alba Cuts Line 6 Expansion Project Capex
30/05/2016 05:56 GMT

Aluminum Bahrain (Alba), the Bahrain-based international smelter, announced that the capex associated with Line 6 Expansion Project was brought-down from US$3.5 billion to around US$3 billion. As... More

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Cairo Residential Project Attracts Foreign Investment
30/05/2016 04:36 GMT

The Ministry of Housing represented by the New Urban Communities and Saudi-Egyptian Alliance Mountain View-Sisban unveiled Egypt’s biggest upcoming project — US$3.6 billion Mountain View iCity —... More

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Ukraine, Iran Stress on Closer All-Out Ties
30/05/2016 09:41 GMT

Tehran expresses support for Ukraine's sovereignty and territorial integrity. Kyiv and Tehran have agreed to intensify cooperation in all areas of bilateral relations. It was part of the 29 May 2016... More

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Iran Seeking More Investment in Iraq
30/05/2016 06:46 GMT

The Chairman of Iran-Iraq Chamber of Commerce, Yahya Al-e Eshagh, has called for increased investment and trade with the southern provinces of Iraq, including Basra. Iraq’s Basra Province is a good... More

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Kuwait Awards Airport Terminal Deal
30/05/2016 09:41 GMT

Kuwait has awarded Turkey's Limak Group and its local agent, Kharafi National, a contract to build a new airport terminal at a cost of KD1.31 billion (US$4.34 billion), the Public Works Minister Ali... More

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Libya's Oil Production Hikes
24/05/2016 05:23 GMT

Libya's crude production has risen above 300,000 barrels per day (bpd) after the reopening of the Marsa al Hariga export terminal in the east of the country late last week, a spokesman for the... More

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Oman Parliament Votes to Raise Taxes in 3 Industries
30/05/2016 04:27 GMT

Oman's parliament voted on 26 May to sharply raise taxes on the petrochemical industry, non-oil natural resources and liquefied natural gas companies in a drive to address a budget deficit. The... More

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Siemens Launches Advanced NX Air Switchgear in Qatar
30/05/2016 04:39 GMT

Siemens, a globally operating technology company, has officially launched its advanced NX Air air-insulated medium voltage switchgear in Qatar. The launch took place on May 29 during an event which... More

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Saudi Arabia

Chicago Pneumatic Powering Riyadh Metro Project
30/05/2016 07:32 GMT

Chicago Pneumatic said the company along with its official Saudi distributor Roots Group Arabia is playing a vital role in powering the construction of one of the kingdom's biggest infrastructure... More

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Dubai Parks & Resorts Raises Fund for New Park
30/05/2016 07:41 GMT

Dubai Parks and Resorts today confirmed that it has successfully raised Dh1.68 billion (US$457.5 million) from a rights issue that has been oversubscribed by 1.6 times. The rights issue is intended... More

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Omani-Yemeni Forum to Facilitate Investment Held
24/05/2016 04:41 GMT

The businessmen from Oman and Yemen discussed trade between two neighboring countries and sought to remove the roadblocks in trade and commerce to reap maximum benefits of the available resources and... More

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General News

ME Hotels Report Negative Results
30/05/2016 04:44 GMT

Hotels in the Middle East reported negative results in key performance metrics this April, posting a 1.8% decrease in occupancy to 71.1% compared to April 2015, said a report. Average daily rate for... More

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