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The Pentagon said Wednesday it has awarded Boeing two contracts worth $2 billion to manufacture over 1,000 missiles for Saudi Arabia. Boeing, under the first contact worth $1.97 billion, will produce 650 air-to-surface missiles with a range of about 290km. Read more
The Algerian Presidency Wednesday said adulterated fuel scandal in Lebanon, in which the national oil company Sonatrach is mentioned as part of the scandal, is an internal Lebanese affair. The CEO of Sonatrach Petroleum (SPC), a subsidiary of Sonatrach, and Read more
Mohammad Charchafchi, Kuwait’s most prominent businessman has injected $18 million in Gulf Cable & Electrical Industries Company becoming therefore major shareholder, reports say. The investment gives Charchafchi five per cent of the company controlled by Bader Nasser Al Kharafi, the Read more
Turkey Tuesday laid into the UAE for sowing chaos in Middle East and North Africa (MENA) region mainly in Yemen and Libya amid deteriorating relations between the two countries. Foreign Minister Mevlut Cavusoglu, Middle East Monitor (MEMO) reports, in an Read more
Abu Dhabi-based state-run Etihad Airways has announced redundancies as the airline strives to remain afloat in face of covid-19 adverse impacts. Etihad did not communicate how many employees have been laid off and which departments have been affected but Middle Read more
A group of US Republican lawmakers have threatened Jordan with sanctions as the Middle East country appears to ignore a request for the extradition of Ahlam Tamimi, a Jordanian citizen wanted in the U.S in connection with 2001 bombing of Read more
Chairman of the Dubai-based Emirates Fly has projected it will take at least 18 months for the travel demands returns to a semblance of normality, Arabia Business reports. Sheikh Ahmed bin Saeed Al-Maktoum issued the warning amid the airline’s report Read more
Saudi finance ministry announced Monday the kingdom the value added tax (VAT) rate will increase from 5 % to 15 % from July 1 as part of austerity measures taken to prop up the economy hit by the impacts of Read more
The Union of Arab Football Associations, UAFA, is poised to complete the suspended Arab Champions Cup, dubbed the Mohammed VI Cup and is waiting for Morocco and Saudi Arabia to lift state of emergency measures, reports say. The competition was Read more
Abu Dhabi-based Etihad Airways will operate from May 9 from selected cities from around the world to limited flights to enable UAE residents to return home, the airline has said. The all one-day flights have been approved by the government. Read more