Home The Buzz Business briefing: 4 June 2013

Business briefing: 4 June 2013

US announces new Iran sanctions, plus other news

by Executive Staff

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.

More from AFP

Offshore oil and gas prospects are improving for Lebanon, with analysis of seismic data foretells a high chance of successful drilling.

More from The Daily Star

There remains a high risk of social unrest in the Middle East due to lack of economic reforms, the International Labour Organization has said.

A standard contract template for Islamic inter-bank transactions has been launched, as the industry works to diversify the range of liquidity management solutions available.

More from Reuters


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.

More from Reuters

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).

More from Arabian Business

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.

More from Reuters

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