Regional News

  AFP Iran released images of its first domestically built long-range missile defence system on Sunday, a project started when the country was under international sanctions. Images on multiple state news agencies showed President Hassan Rouhani and Minister of Defence Hossein Dehghan standing in front of the new Bavar 373 missile defence system. The system was designed to intercept cruise ...

  Bloomberg Iraq, OPEC’s second-biggest producer, will increase crude exports by about 5 percent in the next few days after an agreement to resume shipments from three oil fields in Kirkuk. Shipments will increase to about 150,000 barrels a day as exports resume from the Baba Gorgor, Jambour and Khabbaz fields, Fouad Hussein, a member of the oil and energy ...

  Bloomberg Israel’s largest money managers are turning to the country’s stock market as they bet a five-month corporate bond rally is coming to an end. Equities have started to erase the steepest discount to MSCI World peers in 18 months, while the Tel-Bond 20 index is on course for its worst month since January, according to data compiled by ...

  Bloomberg Tunisia’s prime minister-designate unveiled a new cabinet that keeps holdovers from the old government in key security posts while bringing in new faces to try to revive the economy. Youssef Al-Shahed’s appointments followed more than two weeks of consultations since parliament dismissed his predecessor, Habib Essid, over the country’s weak economic performance. Shahed retained seven key ministers from ...

Reuters Iran’s crude oil exports were flat in June at just over 2 million barrels per day and production at 3.610 million bpd was steady from the previous month, official data showed. Tallies for both exports and production show a rise since January, when Tehran set about recouping market share lost under international sanctions that were mostly lifted at the ...

  Reuters Iraq plans to double the volume of crude it pumps via a pipeline to Turkey to its normal rate of 150,000 barrels per day (bpd) next week, an official at state-run North Oil Company said . The company, which reports to the oil ministry in Baghdad, on Thursday resumed pumping oil from fields it operates in Kirkuk via ...

  Reuters Saudi Arabia will permit foreign institutional investors to buy shares directly in initial public offers, a move that could help the government sell billions of dollars’ worth of stakes in state companies including oil giant Saudi Aramco. New rules published by the Capital Market Authority on Thursday, taking effect at the start of next year, list qualified foreign ...

  Riyadh / Emirates Business The organizing committee of the coffee and chocolates exhibition, which is being held for the third year in a row at the Riyadh International Convention and Exhibition Centre from December 20-23, revealed that the size of exhibition area has increased to 7781 sq m display area. The total number of participants reached over 100 because ...

  Bloomberg Mad Dog, BP Plc’s drilling project deep in the Gulf of Mexico, could be Exhibit A in the oil industry’s war on cost. When the British oil giant announced the project’s second phase in 2011, it put the price at $20 billion. Last month, after simplifying plans and benefiting from a sharp drop in everything from steel to ...

  Reuters An offer of 3 billion riyals ($825 million) of Qatar government bonds, the first domestic government bond offer this year, was successful and showed liquidity in the Qatari banking system is healthy, a central bank official told Reuters on Tuesday. “It was a very successful auction with big demand. It shows liquidity is fine. The demand was fine ...