Gulf countries are forecast to drive the bulk of 2017 sovereign debt issuance, followed by Latin America, according to Bank of America Merrill Lynch. Its latest GEMs Macro Monthly report said it expects Saudi Arabia, Argentina, Qatar and Kuwait to be the largest gross and net debt issuers in 2017. It said these four issuers could account for 37 percent of the total sovereign gross issuance. Among […]
Qatar Petroleum is the hidden giant of the global energy industry, overshadowed by its neighbor Saudi Aramco. Yet, the country’s colossal natural gas resources allow the state-run company to pump more oil and gas than Rosneft PJSC or Exxon Mobil Corp. After almost two decades of breakneck growth, the company needs to change tack. QP plans to expand abroad as domestic crude output declines and the government […]
MOSCOW Russia will decided in April or May whether an agreement on global oil output cuts between OPEC and non-OPEC producers, set to end on June 31, should be extended, TASS news agency quoted Russian Energy Minister Alexander Novak as saying on Saturday. Novak also said that he planned to meet his Saudi Arabia counterpart Khalid al-Falih during the CERAWeek energy conference in Houston in March. (Reporting […]
Saudi Arabia’s relations with the United States are “historic and strategic”, Crown Prince Mohammed bin Nayef said on the occasion of the visit of CIA director Mike Pompeo to Riyadh. This is the first reported visit by a senior Trump administration appointee to the kingdom. “Our relationship with the United States is historic and strategic, any attempts to undermine that will falter,” Prince Mohammed said, according to […]
A Saudi soldier has died from injuries sustained in a landmine explosion on Thursday while on duty, according to the Saudi Press Agency. Corporal Younes Mohammed Ali Abu Rasain, a border guard operating in the Jazan region on the Saudi-Yemen border, was declared dead on arrival at hospital, said a spokesman at Saudi’s Ministry of Interior. Saudi Arabia and its Gulf Arab allies have carried out thousands […]
A Foreign Ministry spokesman, Bahram Qassemi, said on Thursday, “It is a shame that the U.S. government, instead of thanking the Iranian nation for their continued fight against terrorism, keeps repeating unfounded claims and adopts unwise policies that are effectively helping terrorist groups.” Continue reading the main story Mr. Flynn also made clear that the challenge to Iran extended beyond the missile test, holding Tehran responsible for […]
Trumps Vision of a Militarized America President Trump wont, of course, be starting from scratch in his urge to further elevate the military in foreign and domestic affairs. Hes building on a process thats already well under way, explains William D. Hartung. Erdogan: A Classic Case Of How Power Corrupts Turkish President uses every lever […]
Dr. Abushamma’s case was highlighted at a hearing in Federal District Court in Brooklyn on Thursday, where Judge Carol B. Amon extended until Feb. 21 the initial ruling — formally known as a stay of removal — issued last week by her colleague, Judge Ann M. Donnelly. Continue reading the main story Judge Amon will be presiding over the case and deciding on the legal issues underlying […]
Domestic consumption of desalinated water in the region is not only carbon-intensive but contributes to making the Arabian Gulf one of the world’s most salty and potentially most uninhabitable bodies of water, experts say. According to the Ministry of Climate Change and Environment, 96 per cent of domestic consumption of water – from drinking water to showers – comes from one of the 70 desalination plants located […]
ABU DHABI // Tensions between the UAE and Iran escalated on Thursday after the Iranian charge d’affaires was summoned by the Ministry of Foreign Affairs and International Cooperation. Dr Abdulrahim Al Awadi, the ministry’s assistant minister for legal affairs, handed him a note of protest on “Iran’s illegal provision of weapons to the coup militia against the legitimacy in Yemen”. “Iran’s move is in violation of United […]
Saudi Finance Minister Mohammed al-Jadaan said a government efficiency office created last year to review state projects has saved the kingdom 80 billion riyals ($21 billion) on costs, according to the ministry’s official Twitter account. Jadaan expects increased savings this year and in future years to have a positive impact on the kingdom’s finances and the ministry has set up a mechanism to reimburse contractors within 60 […]
Saudi Aramco is likely to list its shares simultaneously on more than one exchange but this is still under evaluation, Energy Minister Khalid al-Falih said on Thursday. Asked by reporters if Aramco would list first on the Saudi bourse and then on another exchange abroad, Falih said: “It will probably be done concurrently, but we have not announced. We are evaluating. All our options are open.” The […]
Designs have been unveiled for largest tertiary children’s hospital, the largest hospital of its kind in the world, which is to be built in Kuwait. Design firm SSH was appointed by Kuwait’s Ministry of Health and Ministry of Public Works last year, with the project being undertaken by SSH in association with global architects HKS and engineering firm WSP. The hospital will feature a total of 792 […]
Saudi Arabia will invite international and domestic companies to bid for renewable energy projects in April, the energy minister said on Wednesday, adding that he expected to award the deals in September. Energy Minister Khalid al-Falih, speaking at a news conference in Riyadh said the projects would include two new solar and wind power plants with a capacity to produce 700 megawatts of power. The projects are […]
Donald Trump’s administration declared that it was putting Iran “on notice” on Wednesday, signalling both a tougher US line with Tehran and a new test of relations after a weekend missile test by the Islamic republic. During his campaign, Mr Trump vowed to rip up a 2015 nuclear deal negotiated by the Obama administration and other world powers with Tehran but has taken no public steps to […]
By Steve Holland | WASHINGTON WASHINGTON A top adviser to President Donald Trump delivered a tough warning to Iran on Wednesday for test-firing a ballistic missile and declared “we are officially putting Iran on notice” for what he called a provocation. A statement from White House national security adviser Michael Flynn condemning the test was an example of a more muscular U.S. foreign policy that Trump has […]
Dubai Islamic Bank, the largest sharia-compliant bank in the United Arab Emirates, has appointed banks ahead of a potential benchmark-sized US dollar sukuk sale, banking sources familiar with the situation said on Wednesday. The group of banks arranging the deal includes Bank ABC, Boubyan Bank, Emirates NBD, HSBC, Maybank, National Bank of Abu Dhabi, Sharjah Islamic Bank and Standard Chartered, the sources said, speaking on condition of […]
The UAE’s non-oil foreign trade totalled AED1.172 trillion ($320 billion) for the first nine months of 2016, up by 0.1 percent on the same period in the previous year. Preliminary data of the Federal Customs Authority (FCA) indicated that the share of imports in the UAE’s total non-oil trade amounted to AED721.2 billion, a rise of 1 percent. Native gold and semi-processed gold topped the list of […]
The oil industry is zeroing in on a prospective tax shift in Washington that has the potential to upend energy flows around the world. The “border adjustment tax” (BAT) put forth by Republican lawmakers and embraced sporadically by President Donald Trump would radically change the way companies are levied, taxing imports and exempting exports in the world’s biggest economy. While the Trump administration’s stance on BAT has […]
Uber’s self-driving car ambition just got another boost after it signed on the German automaker Daimler in an initiative to develop automated vehicles for its ride-hailing network. Looking at the announcement, however, one is left wondering if the partnership could really lead Uber to build a driverless car on its own. Uber’s Role Uber CEO Travis Kalanick stated that, here, Uber is not going to be involved […]
WASHINGTON: Iran’s ballistic missile launch on Sunday was Tehran’s “first litmus test” for the Donald Trump administration as much as it was a regional show of force, according to experts.With the launch coming just nine days into the Trump presidency, Iran-watchers expect the new administration to respond through the different levers at its disposal.A more aggressive retaliation could, however, backfire, and lead to an unintended escalation in […]
The three largest Omani banks – BankMuscat, Bank Dhofar and National Bank of Oman – face pressure on profitability from slowing economic growth and increased demand for Islamic finance, Moody’s warned on Tuesday. Growing appetite for Islamic finance is intensifying competition for products and placing the banks under pressure, a report from the rating agency argued. However, it added that BankMuscat, Oman’s largest bank by assets, was […]
Written by Anees Jillani | Published:February 1, 2017 12:31 am Pakistani Prime Minister Nawaz Sharif (File Photo) Since January 4, a five-member Bench headed by the second seniormost judge of the Supreme Court of Pakistan has been hearing for three hours every day petitions alleging corruption by Prime Minister Nawaz Sharif, filed by the chairman of the Pakistan Tehreek-e-Insaaf (PTI) Imran Khan, and the head of the […]
BD 1.2 million (US$3.2 million) net profit for the three months ending 31 December, 2016 BD 4.3 million 2016 profit as customer base nears one million milestone BD 1.2 million (US$3.2 million) net profit for the three months ending 31 December, 2016 Manama – 31 January, 2016 Zain Bahrain (Ticker: ZAINBH), a telecom innovator focused on enhancing customer experience, reported a 22% surge in its customer […]
