Algerian Govt. Considers Changes to Auto Dealership Activity Procedures
19/04/2021 07:34 GMT

Prime Minister Abdelaziz Djerad chaired a Government meeting on several issues, including the draft executive decree modifying and completing the executive decree No. 20-227 dated August 19, 2020,... More

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Bahrain-Based Bank Starts Service to Pay Zakat
19/04/2021 07:34 GMT

Ithmaar Bank, a Bahrain-based Islamic retail bank, announced that is has started collaborating with the Zakat and Sadaqat Fund of Bahrain’s Ministry of Justice, Islamic Affairs and Waqf to streamline... More

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Egypt’s Sovereign Fund Denies Selling Tahrir Complex
19/04/2021 04:16 GMT

The Sovereign Fund of Egypt has denied reports that it intends to sell the Tahrir Complex (Mogamma El-Tahrir) to investors. It said the complex was fully owned by the fund and that offering it for... More

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Russia, Iran Working to Secure Oil, Wheat Shipments to Syria
19/04/2021 08:31 GMT

Iran, Russia and Syria have established an operations room to secure a safe and stable flow of oil supplies, wheat and some other essential materials to the West Asian country via the Mediterranean,... More

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GE Launches Operations at New Power Plant in Iraq
19/04/2021 05:46 GMT

GE Gas Power has announced the opening of the Samawa Power Plant in the Iraqi governorate of Al Muthanna. For the first phase of the project, four GE 9E gas turbines have been installed and... More

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Kuwait’s COFE Raises Fund
19/04/2021 07:34 GMT

Kuwaiti coffee delivery app COFE has raised US$10 million in new funding, which it aims to use to scale up its operations in Kuwait, Saudi Arabia, the UAE and the UK and to expand into Egypt and... More

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Libya’s NOC Announces March Revenue
18/04/2021 08:36 GMT

Libya’s National Oil Corporation announced that the general revenue for the month of March from sales of crude oil, gas, condensate, oil products and petrochemicals has reached record levels,... More

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Landmark Deal to Take Omani Frankincense Products Global
19/04/2021 07:52 GMT

Eighteen Omani public and private sector organizations have come together to join hands with the Sultanate’s authorities in promoting and marketing frankincense products to the global market. An... More

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Qatar Financial Centre Authority Inks MoU with Labuan IBFC to Boost Ties
19/04/2021 04:19 GMT

The Qatar Financial Centre Authority (QFC Authority) has signed a Memorandum of Understanding (MoU) with Labuan IBFC Inc, to develop long term cooperation and boost economic and financial sector ties... More

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Saudi Arabia

Hidrostank Deploys Innovative Solutions at Saudi Wind Farm
19/04/2021 06:41 GMT

Hidrostank, a leading Spanish company supplying building materials for civil works, said it had recently delivered innovative modular pullboxes for the Dumat Al Jandal wind farm, a first-of-its kind... More

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Dubai Islamic Bank Sees No Impact from NMC Suit
19/04/2021 07:15 GMT

Dubai Islamic Bank (DIB) said on Sunday it does not expect any “negative impact” from a case against it brought by the administrators of hospital operator NMC Group. It made the disclosure in a... More

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Saudi Refinery Project Ramping Up, Despite Continued Yemeni Houthi Attacks
18/04/2021 05:39 GMT

Activity at Saudi Aramco's Jazan Oil Refinery project is ramping up with a total 8.72 million barrels of crude discharged in March, according to commodity data company Kpler. The Jazan refinery is... More

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General News

Saudi Binladin Intl Carries Out Largest Debt Restructuring in Region
19/04/2021 04:16 GMT

Saudi Binladin International Holding is carrying out the largest debt restructuring in the Middle East, close to SR33 billion (US$8.7 billion), with as much as 75% involving Saudi banks, said CEO... More

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