Regional News

  Bloomberg Qatar Airways Ltd. raised its stake in British Airways owner IAG SA to 20 percent, taking advantage of a drop in the company’s stock price since the Brexit vote last month. Qatar Airways, which increased the holding from 15.7 percent as of July 28, doesn’t plan to add to the stake, the company said Monday in a statement. …

  Reuters Iran’s Oil Minister said on Monday the oil market was oversupplied but predicted balance between demand and supply will be restored, Iranian state television reported on Monday. “The oil market is oversupplied now but there are expectations that there will be balance between demand and supply in the market,” Bijan Namdar Zanganeh was quoted as saying by Iran’s …

  Bloomberg Egypt, the world’s largest wheat importer, will take another look at the risks of the ergot fungus, less than a month after the government said it would accept it in purchases of grain from overseas. The Agriculture Ministry formed a committee to assess if the fungus in imported wheat poses a threat to the local crop, Minister Essam …

  Bloomberg Saudi Aramco, the world’s largest oil exporter, lowered the pricing terms for Arab Light crude sold to Asia by the most in 10 months, signaling Saudi Arabia has no plans to back down while OPEC rival Iran tries to regain market share amid a global oversupply. State-owned Saudi Arabian Oil Co. said Sunday it will sell cargoes of …

  Bloomberg Iran is expected to approve a new model for oil contracts on Wednesday, paving the way for billions of dollars of foreign investment to help rebuild its energy industry. “We are awaiting government approval due to be out on Wednesday,” Oil Minister Bijan Namdar Zanganeh said at an energy conference in Tehran on Monday. “Our priorities will be …

  DUBAI / Emirates Business The latest Indosuez Wealth Management research report, ‘Macro Comment – MENA Update’, noted that the demography of the GCC region would play a crucial role in the economic growth and future of the region. “There are some interesting observations for the GCC region when we link demographics with financial markets. Replacing the investment horizon linked …

  DUBAI / Emirates Business Investments in specialisation and preventative care may hold the key to improving both patient outcomes and hospital productivity, according to a London Business School expert. The findings come on the back of the recently announced Kuwait Development Plan (KDP) for 2015-2020, which outlines healthcare as a top government priority with sweeping reforms targeted at both …

  DUBAI / Emirates Business More than 50,000 schools are expected to be set up throughout the Gulf region by 2020 as both public and private stakeholders seek to capitalise the growing education market throughout the region. Citing findings from the GCC Education Industry report published by Alpen Capital, organisers of the forthcoming International and Private Schools Education Forum (IPSEF) …

  Bloomberg Tunisia is looking to form a new government after lawmakers fired the prime minister in the latest skirmish reflecting the struggle for political stability and economic growth in the birthplace of the Arab Spring. A total of 118 of 217 lawmakers voted late Saturday in favor of a no-confidence motion against Prime Minister Habib Essid. The vote sets …

  Emirates Business Messe Frankfurt Middle East, one of the region’s largest exhibition organisers, is expanding its regional reach with the announcement of the inaugural Materials Handling Saudi Arabia 2016. The two-day conference and exhibition will take place from November 28-29 at the Park Hyatt Hotel in the port city of Jeddah, offering global suppliers and regional manufacturers direct access …