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  Manama / TNS Gulf countries need to seriously consider nuclear power as an alternative source of energy, a new study has said. “With a growing need for electricity and a scarcity of water, along with shortages of oil and gas reserves and fluctuation of prices, resorting to nuclear energy as a strategic option could be a choice for many Arab ...

  WAM Bahrain experienced a pronounced pick-up in its headline growth during the first quarter of the year. According to the latest Bahrain Economic Quarterly (BEQ) issued by the Economic Development Board (EDB), growth reached 4.5%, its highest level since 2014, led by the 12.1 percent year-on-year growth in the oil sector. According to Bahrain News Agency, the report also ...

  WAM Oil exports from the eastern Libyan terminal of Hariga have resumed after a pay protest by guards ended, but production at the major eastern oil field of Sarir would remain suspended, officials said on Wednesday. Port director Yassin Ahmed said a Maltese-flagged tanker had docked at Hariga after guards had been promised two years of unpaid wages, and ...

  Reuters Barclays has begun a formal process to sell its Egyptian unit, with at least two banks from the Middle East and North Africa region expressing interest in the business, sources familiar with the matter said. The UK-based lender is offloading its Africa unit as part of a plan by Chief Executive Jes Staley to simplify its structure and ...

  Reuters State oil giant Saudi Aramco signed four engineering contracts to build its Fadhili gas processing project, the company said on Wednesday. The project is worth more than 50 billion riyals ($13.3 billion) and, when completed in 2019, will be the first programme in the kingdom to treat gas from both onshore and offshore fields. The company signed a ...

  WAM The foreign investment volume in Sudan increased to US$ 42 billion following a package of incentive measures to increase the flow of investments and encourage investment in transformational manufacturing, according to the Sudanese Minister of Investment Mudathir Abdul-Ghani. In a statement issued today, he said that the government of Sudan has allowed investors to bring along their equipment, ...

  REUTERS Saudi Arabia’s government has contacted banks to sell them about 20 billion riyals ($5.3 billion) of bonds in its domestic debt sale this month, the Maaal financial website reported, quoting unnamed sources. Since last August, government has been selling around 20 billion riyals of domestic bonds to banks every month to fund a budget deficit caused by low ...

  REUTERS Qatar Insurance reported second-quarter net profit that was unchanged from a year earlier, according to Reuters calculations. The insurer made a net profit of 280.1 million riyals ($76.9 million) in the three months ending June 30, Reuters calculated based on financial statements in lieu of a quarterly breakdown. That compares with a net profit of 280.9 million riyals ...

  Bloomberg Theresa May’s first meeting with Angela Merkel in Berlin will involve more pleasantries than hard bargaining. A week after taking office as UK PM, May, 59, will be keen to size up the woman who will be one of her main interlocutors as she navigates Britain’s exit from the EU. The German chancellor, in office for almost 11 ...

  Bloomberg The U.K. labor market showed continued strength before the country’s decision to leave the European Union. The unemployment rate fell to 4.9 percent in the three months through May, the lowest since the third quarter of 2005, the Office for National Statistics in London said on Wednesday. Economists in a Bloomberg survey had expected the rate to stay ...