Business briefing: 23 Oct 2013

Kuwait favorite to get Saudi UN spot, plus other news

Economics and Policy

Saudi Arabia’s unprecedented rejection of a U.N. Security Council place has pushed the world body into uncharted territory, but fellow Gulf nation Kuwait is emerging as an early front-runner to fill the seat.

More from Reuters

 

Saudi Arabia's intelligence chief has said the kingdom will make a "major shift" in dealings with the United States in protest at its perceived inaction over the Syria war and its overtures to Iran.

More from Reuters

 

Egypt hopes that political tensions with natural gas giant Qatar will not undermine efforts to secure supplies from the Gulf state, but sees Algeria and Yemen as other options.

More from Reuters

 

Companies and Business

Iraqi Kurdistan’s largest oil and gas investor has filed the first major legal case against its regional government over $1 billion in owed payments and production rights, just as the autonomous region looks to become a major energy exporter.

More from Reuters

 

Phase one of Dubai's $3.3bn Mohammed Bin Rashid Solar Park has opened as part of a push to diversify energy supplies in the UAE.

More from Arabian Business

 

A $140 million investment has turned Beirut Port into one of the largest container handlers in the East Mediterranean amid growing demand for transshipment goods from war-torn Syria.

More from The Daily Star

 

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