Bank of Algeria Urges Banks for More Flexibility with Savers
22/02/2018 11:35 GMT

The Bank of Algeria has sent Wednesday a note to the banks calling them to respect their legal obligations by giving more flexibility to the operations of fund deposits and access to these deposits... More

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Ewa Planning Pilot Power in Southern Region of Bahrain
22/02/2018 10:20 GMT

Bahrain's Electricity and Water Authority (Ewa) is set to build a pilot power plant that will produce up to five megawatts (MW) of electricity from renewable resources, said a report. The project,... More

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Official: Egypt Keen on Resolving Gas Export Disputes
21/02/2018 09:44 GMT

Egypt’s petroleum ministry on Tuesday said that it was keen to resolve any gas export disputes. Officials said Egypt was right to import gas “from Cyprus or from anywhere else” in its quest to become... More

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Oil from Iran’s Sanchi Tanker Reaches Japan Shores
22/02/2018 10:31 GMT

Oil that reached islands in southern Japan earlier this month is highly likely to have come from the sunken Iranian tanker Sanchi, the Japan Coast Guard said on Thursday. Samples of oily matter... More

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Laws will Protect Foreign Investors: Iraqi PM
22/02/2018 11:16 GMT

Prime Minister Haider al-Abadi has promised to crack down on corruption, and says laws will protect nervous foreign investors. He told CNBC: “We are laying down all the legal framework … I think the... More

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Limak Holding Bags Funding for Kuwait Airport Work
22/02/2018 09:51 GMT

Turkey-based Limak Holding said it has secured a KD249.2 million (US$833.7 million) syndicated loan facility from National Bank of Kuwait and Kuwait Finance House for the construction of a new... More

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Libya's NOC Chief Blames Finance Ministry for Production Loss
21/02/2018 10:19 GMT

The head of NOC, Mustafa Sanalla, believes that the Libyan government’s delays in giving the state-run firm budget money is causing a loss in production. The comments were made after Sanalla attended... More

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Sohar Port Awards Deal for Wastewater Treatment Plant
22/02/2018 10:06 GMT

A Memorandum of Understanding (MoU) was signed between Sohar Port and Freezone and Netherlands-based Strukton International for the development of a revolutionary waste water treatment plant at the... More

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Qatar Islamic Bank Gets Nod to Raise Limit of Sukuk Plan
22/02/2018 10:47 GMT

Qatar Islamic Bank’s annual general assembly has approved the board of director’s recommendation to increase the limit of the QIB Sukuk Program in dollars from US$3 billion to a maximum of US$4... More

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Saudi Arabia

Saudi Jawwy Bags La Liga Team Shirt Sponsorship Deal
22/02/2018 10:39 GMT

La Liga side Levante have announced a sponsorship deal with Saudi Arabian mobile and telecommunications operator Jawwy. Under the terms of the deal, the Saudi firm will serve as a shirt sponsor of... More

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Abu Dhabi Sporting Events Generate Hundreds of Millions in 2017
22/02/2018 10:12 GMT

The value of economic gains from Abu Dhabi’s hosting of major international sporting events reached US$545.5 million in 2017, the Abu Dhabi Sports Council said, citing an analytical study by SMG, a... More

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Yemeni President Names New Central Bank Governor
12/02/2018 08:16 GMT

Yemen’s President Abd Rabbuh Mansur Hadi appointed former finance minister Mohammed Zammam as head of the central bank, the state-run Saba news agency reported on Sunday. Yemen has been divided by... More

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General News

BofAML Sees Oil Averaging US$50-US$70 by 2023
22/02/2018 10:04 GMT

Brent crude oil prices are expected to average US$50 to US$70 per barrel (/bbl) in a medium-term horizon to 2023, said the Bank of America Merrill Lynch (BofAML) in its latest Global Energy... More

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