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.

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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.

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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.

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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.

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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.

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