Economics
Brent crude futures steadied above $107 on Friday and were poised to end the week with a marginal gain, their first in four, but prices are likely to remain under pressure as the outlook for the global economy, and fuel demand, remains weak.
Lebanese Energy and Water Minister Gebran Bassil said Thursday he expects companies to be invited to start bidding for oil and gas excavation licenses before the end of this year, should everything go according to plan.
“The executive decrees concerning oil and gas exploration are supposed to be issued soon. We should have done this work before, but as they say ‘it’s better late than never,’” Bassil said.
Royal Dutch Shell, RWE and TransGlobe Energy have won concessions in Egypt’s first licensing round since the 2011 revolution in a sign that international oil firms are undeterred by a payment backlog of billions of dollars.
Air traffic management and safety are key priorities for Middle East aviation officials as the region looks to build on its rapid growth over the past decade, Tony Tyler, director general and CEO of the International Air Transport Association (IATA), has said.
The former governor of Iraq's central bank who was removed from his job amid allegations of financial impropriety has vowed to clear his name.
Iran has frozen the import of more than 2,000 products deemed "luxury goods" to address a shortage of foreign currency caused by Western sanctions, media reports said Thursday quoting trade officials.
Companies
Abu Dhabi's Aabar Investments, the top shareholder in Italian bank UniCredit, has lost its chief financial officer and another top executive, sources familiar with the matter said.
The search for the UAE’s most outstanding businesses, entrepreneurs and business leaders has finally ended with the announcement of the winners of the inaugural Gulf Capital SMEinfo Awards.
Middle Eastern buyers piled into London’s luxury home market in October as they shielded their wealth from political turmoil back home, including the Syrian civil war.
Qatar National Bank (QNB) Group announced that it has successfully issued a $1 billion bond under its Euro Medium Term Note (EMTN) Program in the international capital markets.
