Main headlines
May 23, 2013
South Sudan's oil minister said late on Wednesday that it had resumed oil production and flow to the international markets through the territory of neigbouring Sudan after a temporary blockage at Jebellen.
Egypt's central bank kept the price of the country's currency steady against the dollar at a special $800 million foreign exchange auction on Wednesday, called to help importers pay for wheat, meat, cooking oil and other essential imports.
The World Bank has proposed a $150 million loan for Jordan to help it with the cost of thousands of Syrian refugees fleeing the civil war in Syria, Jordanian and World Bank board sources said on Wednesday.
Bank Alkhair, a Bahrain-headquartered Islamic wholesale bank, has announced the successful closure of the first tranche of a $750 million sukuk programme by Saudi Arabia's Dar Al Arkan real estate development company.
Crude oil prices fell below $100 for the first time since mid-2012 in April on seasonal factors and softening market fundamentals. This was followed by a small rebound in early May, according to NBK’s latest Economic Update.
The Islamic Development Bank Group has decided to increase its authorized capital from $ 45 billion (30 billion Islamic dinars) to $ 150 billion (100 billion dinars) on the recommendation of the two extraordinary Islamic summits held in Makkah.
A new bus depot that can accommodate around 500 buses will be built in Abu Dhabi soon.
Oman Air, the national carrier of the Sultanate of Oman, has placed an order for three A330-300s, growing its A330 Family fleet to a total of ten Airbus aircraft, according to a press release on Wednesday.
May 22, 2013
Chevron Corp is in advanced talks to sell most of its downstream assets in Egypt and Pakistan, three sources said, with the planned disposals seen raising around $300 million for the U.S. oil major.
The auction will be the central bank's second exceptional sale of foreign exchange. In April, it sold $600 million to pay for wheat, meat, cooking oil and other essential imports.
US Secretary of State John Kerry arrived in Oman yesterday aiming to help finalize an estimated $ 2.1 billion deal to supply a US-made air-defense system to the Gulf nation.
Iranian carmaker Iran Khodro will establish an assembly line with the capacity of 30,000 units per year in the Iraqi city of Iskandariya by the next month.
A number of MPs expressed mixed reactions over the massive reshuffle on Monday in the oil sector, with some welcoming it and others strongly criticizing it as politically-motivated, while the opposition made no reaction to the changes.
The largest fruit and vegetable factory has opened its doors to Saudi women for the first time, hiring 100 female employees and aiming to hire 300 more in the coming two years.
Experts say the rent hikes were due to rising costs of building and renovation, and the increase in the wages of workers in the construction and management of building.
