Bloomberg Saudi Arabia has hired consultants to advise on plans to create top global companies in industries from petrochemicals to telecommunications as it seeks to bolster its economy and reputation, according to people with knowledge of the matter. The kingdom has identified about five companies — including Saudi Arabian Oil Co., Saudi Basic Industries Corp. and Saudi Telecom Co. ...

  Tehran / AFP Iran’s President Hassan Rouhani on Tuesday ordered the country’s scientists to start work on nuclear-powered ships in response to the expected renewal of sanctions by the United States. In letters read out on state television, Rouhani criticised the US move as a breach of last year’s nuclear accord and told Iran’s Atomic Energy Organisation to start work ...

  Tehran / AFP Iran signed preliminary agreements with Russia’s Gazprom on Tuesday to develop two major oil fields in the latest of a flurry of deals with foreign firms, local media reported. The deals open the way for Gazprom to carry out studies at the Cheshmekosh and Changouleh fields near the border with Iraq, according to the Shana news agency, ...