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The new chief executive of Dubai Mercantile Exchange (DME) wants to change the way the exchange has been operating. He is thinking of refreshing its Oman crude futures contract by attracting major consumers and Middle East banks, rather than national Read more
Reports originating from a German magazine called Der Spiegel have stated that Iran has set up plans to block the Strait of Hormuz by causing an environmental disaster. According to the report, Iran is planning to do such an act Read more
Hezbollah’s move to fly a drone which was built by Iran but assembled in Lebanon into Israel’s airspace has received negative reactions from opposition groups known as the March 14 coalition. Tensions have been vibrant between the two fractions in Read more
The government has come under the criticism of the head of the largest bank in the country and one of the most senior banking figures in the region for its lack of investment to boost the economy. The CEO of Read more
Investment into 10 new projects estimated to be ranging from $500million to $1 billion has been earmarked by the Takamul Investment Company as a move to add value to new and existing ventures in the petrochemicals, metals and minerals sectors. Read more
The Iraqi Shiaa-dominated government of Nuri Al-Maliki has announced the purchase of $ 4.2 billion weapons from Russia, the world’s second-biggest arms seller after the United States. The arms deal includes 30 Mi-28NE attack choppers, 42 Pantsir-S1 surface-to-air missile systems Read more
In a ceremony at Doha, Qatar 2022 Supreme Committee signed agreements with five local stakeholders’ and issued new tenders. The stakeholders with whom it signed the agreement are Qatar Rail, public works authority Ashghal, Kahramaa (Qatar General Electricity & Water Read more
A report from Arab Petroleum Investments Corp has revealed that oil producers in MENA are planning a total investment of US$740bn on energy projects over the next 5 years (2013-2017). The five countries leading the investment table are Saudi Arabia Read more
Al Jabbar Internet group is having talks with companies interested in possessing stakes or assets in the group. The chairman and CEO of the group, Samih Toukan, said interest has been building up within and outside the Middle East but Read more
Merging talks are at an advanced stage between Ithmaar Bank, Bahrain’s sixth-largest bank by market capitalization, and First Leasing Bank, the Islamic lender. The proposed merger has already been given the nod by both banks but their shareholders will have Read more