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July, 1, 2016

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Business > Middle East
Israel's state electric company on Monday reduced power to a major West Bank city, saying it would take similar steps in other Palestinian areas over the next two weeks because of unpaid debt.
 
Kawsar Ahmed Sumon took 1,500 kilograms of vegetables and betel leaves to Hazrat Shahjalal International Airport in Dhaka on March 25 to export them to Saudi Arabia.
 
The emirate of Dubai, whose airport is the world's busiest for international passengers, announced Wednesday it was introducing a tax on travelers to help finance expansion, as Gulf governments grapple with plummeting revenues.
 
Israel's parliament has passed a law capping the annual salaries of bank executives at US$658,000, described as among the world's toughest such restrictions.
 
Israel supreme court strikes down major gas deal
Israel's top court on Sunday struck down a landmark deal regulating exploitation of Mediterranean gas reserves, in a major defeat for Prime Minister Benjamin Netanyahu who called the ruling "mystifying."
 
A South Korean constructor that jointly won a US$20 billion housing deal with Saudi Arabia said Monday it was confident the project would go ahead despite the impact of slumping oil prices on the Gulf nation's coffers.
 
Pakistan and Iran agreed on Friday to enhance economic ties and open two more border crossings to increase trade, the government said.
 
In the cash-strapped Gaza Strip, the not-so-latest styles are sought after
Standing by skips full of clothes, vendors call out to bargain hunters scrambling for the not-so-latest styles in the Gaza Strip.
 
Power blackout hits Syria: state TV
War-torn Syria was hit Thursday by a nationwide power cut, state television reported, but the cause was not immediately known.
 
For Iranian restaurants in Saudi, it's business as usual
Iran and Saudi Arabia's rivalry has played out in proxy wars across the region, and escalated further after the two severed diplomatic and trade ties last month. Yet in the Saudi capital, Riyadh, popular Iranian restaurants are outselling feverish calls for a boycott and stand as a reminder of when ties between the two countries held promise.
 
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