CEO: Algeria's Sonatrach Planning to Cut Investments
25/06/2017 05:54 GMT

With oil prices in their current state of fluctuation, on the low end that is, the government of Algeria has decided to rein back on its investment program. According to Sonatrach’s CEO, Abdelmoumène... More

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Bahrain's Batelco Adds 11 Global Networks to Roaming Packages
21/06/2017 06:15 GMT

Bahrain's leading digital communications services provider Batelco has added 11 new international networks to its data roaming packages to boost its services for customers ahead of the holiday... More

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Social Spending Hiked to Ease Austerity Pain in Egypt
22/06/2017 03:59 GMT

Egypt’s budget for the next 12 months will include a 75 billion Egyptian pound (US$4.17 billion) social spending package, the Finance Ministry said, a day after President Abdel Fattah El-Sisi... More

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Iranian Petchem Plant, Germany's Siemens Sign Contract
25/06/2017 09:15 GMT

The Managing Director of Fanavaran Petrochemical Company Bahman Behzadi announced a new contract has been signed with Germany’s Siemens aiming at increasing the power of turbines in the complex. He... More

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Ericsson Extends Managed Services Deal with Zain Iraq
25/06/2017 08:43 GMT

Ericsson has been awarded an extension of its Managed Services contract with Zain Iraq until 2021, after successfully providing Managed Services for Networks, IT and value-added services to the... More

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IBM, Zain Launch Cloud Recovery Service in Kuwait
22/06/2017 03:59 GMT

IBM and Zain, a top telecom company in Kuwait, have partnered to launch a new cloud disaster recovery service that will provide IBM and Zain’s enterprise customers with cloud-based business... More

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Glencore’s Rights to Export Oil from Libyan Port Taken Away
25/06/2017 05:46 GMT

Authorities in Eastern Libya have withdrawn Glencore’s rights to export oil from the Marsa al Hariga port. The withdrawal of rights can be attributed to the fact that one of the oil trader’s major... More

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Oman to Issue Tenders for Key Renewable Energy Projects
25/06/2017 07:19 GMT

Oman’s Rural Areas Electricity Company (Raeco) is likely to issue tenders by the year-end for 11 renewable energy projects to be developed across the sultanate, said a report. This comes as Raeco's... More

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CEO: Qatar Airways Offer to Buy American Airlines Stake Makes No Sense
25/06/2017 08:54 GMT

An offer by Qatar Airways to buy 10% of American Airlines has been dismissed by the US carrier’s CEO as “confusing” and “ill-conceived.” "It makes no sense. Why an airline we are aggressively... More

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Saudi Arabia

Al Kabeer Opens New Food Plant in Saudi KAEC
25/06/2017 07:31 GMT

Al-Kabeer Group, a leading frozen food producer in Saudi Arabia, has opened its new industrial facility at the King Abdullah Economic City (KAEC) as part of its strategic plan to expand its regional... More

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UAE’s DP World Launches 7-Star Customs Center
25/06/2017 07:48 GMT

DP World, a global trade enabler, has launched the new Port Rashid Customs Center, which has been built following the latest and most advanced building standards. Sultan bin Sulayem, DP World Group... More

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ICD & TIIB Enter into Partnership to Support BRAVE Project in Yemen
14/06/2017 08:21 GMT

The Islamic Corporation for the Development of the Private Sector (ICD) (, the private sector arm of IDB Group, and Tadhamon International Islamic Bank (TIIB) ( have... More

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General News

ICD, JSCB Cooperate to Finance SMEs in Uzbekistan
25/06/2017 07:42 GMT

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of IDB Group, and JSCB ‘Microkreditbank’, Uzbekistan have entered into a Joint Strategic Collaboration... More

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