Business

Turkey, Russia Sign Memorandum on Lifting Trade Restrictions: Turkish Sources

ANKARA, May 22 – Turkey and Russia signed a memorandum on lifting trade restrictions against each other, Turkish presidential sources said on Monday, after Ankara and Moscow agreed at a meeting this month to settle trade disputes. The memorandum was signed by Turkish Deputy Prime Minister Mehmet Simsek and his Russian counterpart Arkady Dvorkovich in

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World Economic Forum – MENA kicks off in Jordan on May 19

King Abdullah: “My friends, we will solve the problems of our region!” By Irene Hell As road blocks are set up around King Hussein Bin Talal Convention Centre by the Dead Sea, the Jordanian Armed Forces have also increased their presence in Amman. That is quite understood, as the area is gearing up to host

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Saudi Sale of the Century Lures Foreign Investment Banks, P.E. Firms

By Saeed Azhar and Tom Arnold DUBAI, May 16 – One of the world’s largest privatisation programmes is drawing foreign investment banks and private equity (PE) firms to Saudi Arabia, despite the prospect of low fees and an uncertain regulatory environment. KKR is among the U.S.-based PE firms joining regional companies such as Abu Dhabi’s

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Will Macron’s Presidency Affect Trade with the Middle East?

By Marcus Turner Jones Emmanual Macron sealed a decisive victory in the final round of the French presidential elections, seeing off opposition from far right candidate Marine Le Pen to become the youngest president of France in history, at age 39. Macron is a former investment banker who is pro-EU and pro-global. He has promised

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Pakistan Signs Nearly $500 mln in China Deals at Silk Road Summit

By Kay Johnson ISLAMABAD, May 14 – Pakistan signed new deals with China on Saturday worth nearly $500 million ahead of Beijing’s international forum on its “Silk Road” trade and infrastructure initiative for Asia, Africa and Europe, the Pakistani government said. The memorandums of understanding add to $57 billion already pledged for the China-Pakistan Economic

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What Does 2017 Hold for Middle East Investors?

By Ali Janoudi and Simon Smiles In 2017, Middle Eastern investors will confront a world marked by policy shifts and a rising likelihood of reflation. In certain respects, the Middle East itself has also contributed to this trend. Coupled with potential fiscal stimulus in the U.S., OPEC’s decision to cut oil output for the first

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Banks planning to move 9,000 jobs from Britain because of Brexit

By Anjuli Davies and Andrew MacAskill LONDON, May 8 – The largest global banks in London plan to move about 9,000 jobs to the continent in the next two years, public statements and information from sources shows, as the exodus of finance jobs starts to take shape. Last week Standard Chartered and JPMorgan were the

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How the Super Rich Spend Their Money…in the Middle East?

How the other .001 percent lives in the Middle East By Edward Mermelstein For the past two decades, an exorbitant amount of wealth has been created in the Middle East. In fact, it has been reported that in the first half of 2016, more than $10 billion flowed out of the region. The question is, where

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EXCLUSIVE: Saygin Yalcin’s top tips for a successful startup

Saygin Yalcin is a German entrepreneur of Turkish descent. He is the founder and CEO of SellAnyCar.com, and a partner at one of the region’s leading e-commerce company Souq.com Group, which was recently acquired by Amazon for $650 million. But that’s not all. Yalcin made headlines after he gifted a $250,000 Rolls Royce to Kendall Jenner last year on

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