CAIRO / Reuters Economists are roughly evenly split on whether Egypt’s central bank will raise interest rates at its monetary policy committee (MPC) meeting on June 16, after a jump in inflation in May. Six out of 11 economists in the Reuters poll expect the bank to hold rates while five expect a hike ranging from 25 basis points …
Read More »ERBIL / Reuters Iraq’s Kurds are ready to strike an agreement with the central government in Baghdad on a deal to increase oil exports, if it guarantees them a monthly revenue of $1 billion, a spokesman for the Kurdistan Regional Government (KRG) said. Iraq’s central government in March stopped oil exports through a Kurdish pipeline to pressure the local …
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Amman / Tribune News Service An international group has commended Jordan for its responsible and balanced approach to its peaceful nuclear power programme. A report by the International Advisory Group (IAG) has indicated that the Kingdom has “aggressively engaged with the IAEA in the development of its nuclear programme and has sought and obtained extensive peer reviews and this …
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Reuters Qatar will reduce its condensate exports by a third in January 2017 when a new splitter at its Ras Laffan refinery starts operating, a Qatar Gas official said. “Qatar is exporting around 30 cargoes (of condensate) a month. This will be reduced by 10 cargoes a month starting January,” said the official, who declined to be named saying …
Read More »Tribune news service A 35 percent increase in customer complaints against banks has been witnessed in Bahrain over the past three years, it has emerged. The Central Bank of Bahrain has received an average of 31 such complaints every month this year, compared with 28 last year, 26 in 2014 and 23 in 2013. Four complaints last month were …
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Tribune news service Bahrain’s decade-long national award for women empowerment has received global recognition. The new award is named after Her Royal Highness Princess Sabeeka bint Ibrahim Al Khalifa, wife of His Majesty King Hamad and Supreme Council for Women (SCW) president, and will now come under UN Women. The council has been tasked by UN Women to come …
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Emirates Business CFA Society Emirates, the association for financial and investment professionals in the UAE, has unveiled the results of a survey which assessed the impact of introducing Value Added Tax (VAT) across the GCC. The survey provided market insights from CFA members and charterholders in the United Arab Emirates. With the UAE set to become the first country …
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Reuters Saudi Arabia is seeking international investors to build two solar power plants, using a deal structure that could become a model for the kingdom’s infrastructure projects as low oil prices pressure the government’s finances. State-owned utility Saudi Electricity Co (SEC) said at the weekend that it was inviting expressions of interest from companies or consortiums around the world …
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Manama / Tribune News Service A deal has been agreed that will hopefully tackle traffic congestion that has plagued neighbours of a popular mall in Muharraq. The agreement will see costs of a new BD300,000 access road shared by government and investors at Seef Mall Muharraq. It follows a year of negotiations between mall management and the Works, Municipalities …
Read More »Manama / Tribune News Service Bahrain-based Gulf Petrochemical Industries Company (GPIC) remained profitable last year despite the sharp decline in global prices and other market challenges, it has emerged. The company, which is an equal stakes joint venture of Bahrain’s nogaholding, Saudi Basic Industries Corporation (Sabic) and the Petrochemical Industries Company (PIC) of Kuwait, uses locally available natural gas …
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