Economics and Policy
The United States has unveiled aggressive new sanctions against Iran, directly targeting the rial currency for the first time and also the auto sector, a key source of jobs and revenue.
Companies and Business
The United Arab Emirates is merging its two flagship state aluminium firms to create the world’s fifth largest aluminium company with an enterprise value of $15 billion.
Middle East carriers are expected to show a profit of $1.5bn this year, slightly improved from a previous projection by the International Air Transport Association (IATA).
Saudi Binladin Group, one of the largest construction firms in the kingdom, is meeting investors over a potential local currency Islamic bond sale, two banking sources aware of the deal have said.