Category Archives: Business

Egypt’s Zohr gas field comes onstream

east med Zohr ENI_TEKMOR

the start of pumping natural gas from the Zohr gas field in the Mediterranean Sea to the new land station in the al-Jameel area in Port Said. Continue reading

Category: Business

EGYPT: flaring reform moves forward

gas_flaring-offshore

Egypt has announced  that it will be a signatory to the “Zero Routine Flaring by 2030” initiative, a global effort to reduce gas flaring at oil production sites.  The “Zero Routine Flaring by 2030” initiative, introduced by the World Bank … Continue reading

Category: Business

Saudi Arabia scores an own goal in Ritz Carlton hostage rip-off

stock-photo--d-calculator-on-saudi-arabia-money-currency-banknote-268840808

Saudi investigators estimate they can recover up to $100bn from settlements linked to an anti-corruption crackdown that began two weeks ago, according to reports. Bloomberg cited a senior official as confirming the kingdom could recover between $50bn and $100bn amid wider … Continue reading

Category: Business

Emirates record a dramatic upswing in profits

Boeing+777-200LR

Emirates profits up Continue reading

Category: Business

Is Qatar feeling the pinch?

QIAlogo

The Middle East magazine looks at whether Qatar is feeling the pinch of sanctions Continue reading

Category: Business

New Turkish Canal would rival Suez and Panama

istanbul-img

Turkey is moving forward with controversial plans to build a canal to rival Suez and Panama but, its opponents say, it threatens to wreak environmental havoc, destroy budgetary balances and drive sprawl in Europe’s biggest city. President Recep Tayyip Erdogan said … Continue reading

Category: Business

GCC: Will income tax help balance budgets?

Tax_cut_1_.55ff09f46ee7d

GCC income tax Continue reading

Category: Business

EBRD puts down roots in Lebanon

lebanon1

The EBRD, established in 1991 with the goal of supporting market economies and promoting the private sector, is to begin investing in Lebanon after the Bank’s Board of Governors decided in favour of Lebanon’s application to become a country of … Continue reading

Category: Business

Oman uses Chinese funds to help balance the books

oman-01

The government of Oman has raised $3.55bn through a loan from a group of Chinese financial institutions, the latest fundraising by the sultanate which has borrowed over $10bn this year to replenish coffers hit hard by lower oil prices, according … Continue reading

Category: Business

GCC Economies: Must try harder

GCC

GCC economies must try harder Continue reading

Category: Business