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December, 10, 2016

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Business > Middle East
Pakistan's top civilian and military leaders traveled to the country's southwest on Sunday to open a new international trade route by seeing off a Chinese ship that's exporting goods to the Middle East and Africa from the newly built Gwadar port.
 
Dubai opens canal in fresh boost for tourism and commerce
Dubai inaugurated a new canal Wednesday after a three-year construction project costing US$735 million, in a fresh boost for tourism and commerce in the booming Gulf city state.
 
At least 26 Shiite Muslim pilgrims headed to Iraq were killed and 28 injured in a bus accident in southern Iran, the ISNA news agency reported on Wednesday.
 
Iran inks offshore gas deal with France's Total
Iran signed a deal with France's Total on Tuesday to develop a major offshore gas field, its first big contract with a Western energy firm since sanctions were loosened in January.
 
Dubai-Abu Dhabi Hyperloop mooted
The futuristic city-state of Dubai announced a deal on Tuesday with Los Angeles-based Hyperloop One to study the potential for building a line linking it to the Emirati capital of Abu Dhabi.
 
Saudi Arabia raised US$17.5 billion in its first international bond offering, HSBC said Thursday, reflecting strong interest as the kingdom seeks to diversify its oil-dependent economy.
 
Israel's energy minister was holding talks in Turkey on Thursday, the first such trip since the two countries normalized ties after the 2010 crisis triggered by Israel's deadly storming of a Gaza-bound aid ship.
 
Saudi Arabia said on Monday it was "not unthinkable" that the price of crude oil could surge to US$60 a barrel by the end of the year but warned against drastic production cuts that might shock markets.
 
Jordan defends Israel gas deal   following opposition at home
Jordan on Monday defended its deal to buy Israeli natural gas that has stirred public opposition, insisting the accord would not leave the Arab country reliant on the Jewish state.
 
An unauthorized drone forced Dubai airport to halt air traffic for about half an hour on Wednesday in the second such incident in four months, the airport authority said.
 
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