State-owned Dubai World has received backing from all its creditors for a $14.6 billion restructuring plan, a court heard on Sunday, paving the way for the deal to be formally approved by May.
Middle East
In Gaza, demand grows for a plastic surgeon's services
In a smart building in an upscale neighborhood of Gaza City, Salah El-Zanin is seeing a growing number of clients. Trained in Greece, he is the only plastic surgeon in Gaza with European qualifications, and his business is booming.
Iraq says discussing $6 billion bond issue with banks
Iraq is discussing a possible bond issue worth nearly $6 billion with Deutsche Bank and Citibank as part of its efforts to cover a huge projected budget deficit this year, Finance Minister Hoshiyar Zebari said.
Saudi king keeps close hand on oil in remodelling strategic team
Saudi Arabia's subtle change of energy policymaker line-up since the accession of new King Salman in late January appears to give the monarch's inner circle a firmer hand on the kingdom's oil strategy than previous rulers have enjoyed.
Tunisia tax suspension, teacher strike test reform agenda
Tunisia canceled a new tax on Monday imposed on travelers crossing Libya’s border after the measure triggered rioting, highlighting the problems facing the government as it seeks to bolster shaky state accounts.
Latest News
An oil tanker has docked at Libya's port of Hariga for the first time since security guards ended a strike this week and a storm passed, a port official said on Thursday.
State oil giant Saudi Aramco [SDABO.UL] has put on hold its deepwater oil and gas exploration and drilling activities in the Red Sea because of high costs as it economizes in an environment of low crude prices, industry sources said on Sunday.
A lavish payout to public employees ordered by Saudi Arabia's new King Salman will help to sustain the kingdom's consumer boom and reassure financial markets that the government is not slashing expenditure in the face of low oil prices.
Royal Dutch Shell (RDSa.L) has signed a deal with Iraq worth $11 billion (7 billion pounds) to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser al-Esawi said on Wednesday.
Russian shoppers caught in a currency crunch are staying away from the Dubai Shopping Festival (DSF) this year, but visitors from elsewhere look set to make up the numbers at the annual retail bonanza.
Commercial flights from Libya to mainland Europe resumed after more than six months on Saturday with a Libyan carrier taking off to Germany, the airline said.
U.S. tech giant Amazon is in talks to buy Israeli chipmaker Annapurna Labs for up to $370 million, financial newspaper Calcalist reported on Thursday.
Brent crude oil prices fell below $49 a barrel and U.S. crude also fell more than $1 on Monday after the global economic outlook darkened and Iraq announced record oil production.
Iran sees no sign of a shift within OPEC toward action to support oil prices, its oil minister said, adding its oil industry could ride out a further price slump to $25 a barrel.
