Middle East
- Oil edges lower as supply disruption concerns ease, article with imageBusiness ·
August 11, 2022 · 6:57 AM UTC Oil prices drifted lower on Thursday after gaining more than $1 in the previous session, as concerns over supply disruptions eased and markets looked for evidence of improving fuel demand.
- Middle EastSaudi Arabia invests $1.3 bln in four Egyptian firms
The Saudi Egyptian Investment Co (SEIC), owned by Saudi Arabia's state-owned Public Investment Fund (PIF), has bought minority stakes in four Egyptian companies for $1.3 billion, Egypt's planning ministry said on Wednesday.
- United KingdomUK prosecutor authorises terrorism charges against Islamic State suspect
British prosecutors have authorised terrorism charges against a man, 38-year-old Aine Davis, who has returned to Britain from Turkey where he had been held in prison.
- MarketsAbu Dhabi's IHC takes $490 mln stake in Turkey's Kalyon
Abu Dhabi's International Holding Co on Thursday said it had acquired a 50% stake in Turkey's Kalyon Enerji for 1.8 billion dirham ($490 million) through one of its subsidiaries.
- MarketsMubadala, Raizen in final round to buy BP-Bunge Brazilian ethanol venture- source
UAE state investor Mubadala Investment Co and energy company Raizen SA are in the final round to acquire Brazilian ethanol joint venture BP Bunge Bioenergia, the world's third-largest sugarcane processor, one source with knowledge of the matter said on Wednesday.
- Middle EastUAE court lifts prison term for American convicted of money laundering
A United Arab Emirates court has lifted a prison sentence but upheld a conviction on money laundering charges for U.S. citizen and civil rights attorney Asim Ghafoor, who was detained while transiting through Dubai last month, the Judicial Department and a lawyer for Ghafoor said on Wednesday.
- BusinessKuwait central bank raises discount rate by 25 bps
The Central Bank of Kuwait raised its discount rate by 25 basis points to 2.75% effective from Thursday, it said in a statement on Wednesday.