Business

Qatar Stock Market Tumbles on Diplomatic Rift with Saudi, GCC States

By Celine Aswad DUBAI, June 5 – Qatar’s stock market plunged on Monday after Saudi Arabia, Egypt, the United Arab Emirates and Bahrain severed ties with Doha, accusing it of supporting terrorism. The Qatari stock index sank 7.6 percent in the first hour of trade. Some of the market’s top blue chips were hit hardest,

[ Read More ]

‘Axis of Love’: Saudi-Russia Detente Heralds New Oil Order

By Dmitry Zhdannikov and Vladimir Soldatkin MOSCOW, June 1  – A meeting between the two men who run Russia and Saudi Arabia’s oil empires spoke volumes about the new relationship between the energy superpowers. It was the first time that Rosneft boss Igor Sechin and Saudi Aramco chief Amin Nasser had held a formal, scheduled

[ Read More ]

Oil Slips as More U.S. Drilling Outweighs OPEC-led Cuts

By Libby George LONDON, May 29 – Oil prices slipped on Monday as further increases in U.S. drilling activity undercut an OPEC-led push to tighten supply. Trading was subdued due to public holidays in China, the United States and Britain, but concerns lingered over whether OPEC action would be enough to stem the tide of

[ Read More ]

Adidas’ Slavery Buster Hopes Technology Can Give Workers a Voice

By Belinda Goldsmith LONDON, May 24 – Adidas executive Aditi Wanchoo is on a mission – to wipe out any slavery in the German sportswear company’s supply chain, and she hopes giving workers the technology to speak out will help. With a background in corporate social responsibility at consultancy firm Accenture, Wanchoo was hired 18

[ Read More ]

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

[ Read More ]

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

[ Read More ]

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

[ Read More ]

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

[ Read More ]

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

[ Read More ]

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

[ Read More ]