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May, 2, 2016

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Business > Middle East
Flights to and from two northern Iraqi airports were suspended for 48 hours beginning on Monday due to danger posed by Russian cruise missiles heading for neighboring Syria, officials said.
 
Russia has finalized a contract for the delivery of advanced air-defense missile systems to Iran, the head of a Russian state-controlled industrial conglomerate said Monday.
 
Working children given a path off Lebanon's streets
For two years, Syrian teenager Ibrahim scraped together a paltry living selling lottery tickets and tissues on the crowded streets of Beirut, but that seems like a lifetime ago now.
 
Iran on Saturday announced dates for a three-day oil and gas conference in London in February designed to attract foreign investors awaiting new contract terms to be unveiled next month.
 
The United Arab Emirates is introducing labor reforms that aim to tighten oversight of employment agreements for the millions of temporary migrant workers that comprise the bulk of the country's workforce, a top Emirati official said Tuesday.
 
Afghan buried minerals source of wealth, strife
A group of potato farmers sat cross-legged in a velvet-carpeted madrassa, pensively mulling assembling an armed militia to guard Afghanistan's largest iron-ore reserve buried in jagged Hindu Kush ridges flanking their village.
 
Iraq's electricity minister outlined to parliament Saturday a slew of problems that have contributed to abysmal power services, which have sparked widespread public anger and protests.
 
Kuwait has called on Saudi Arabia to resume production at a disputed border oil field, saying its neighbor will be held responsible for revenue losses, reports said Tuesday.
 
Israel's Teva buys Allergan generic drug company for US$40.5 billion
Israel's Teva Pharmaceutical Industries Ltd. said Monday it is purchasing Dublin-based Allergan Plc's generic pharmaceuticals business for US$40.5 billion, in what Israeli analysts called the largest-ever acquisition by an Israeli company.
 
Leading oil producer the United Arab Emirates will scrap subsidies on petrol and diesel from August to cut spending as low crude prices hit revenues, the energy ministry said Wednesday.
 
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