Money matters bulletin

Regional stock market indices Regional currency rates Zubair Corporation allies with Tefirom Zubair Corporation, an Omani business conglomerate, and Tefirom, a Turkish multi-national business group, signed a strategic alliance on April 13 with aims to develop a portfolio of business opportunities estimated at $500 million, particularly in renewable energy, construction, water management, natural gas and manufacturing sectors. As a result, they announced a co-development of wind-based projects for renewable energy in Turkey and Oman. The alliance was signed after six months of negotiations and would give both parties advantage in market presence, execution tools, know-how and skills across different sectors. The two companies are to create separate joint venture companies for each project and may introduce other partners depending on the merits of the project. Arab fund will allocate $359 million in loans and grants The Arab Fund for Economic and Social Development (AFESD), a Kuwait based pan-Arab institute, announced