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October, 1, 2016

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Business > Middle East
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.
 
Iran's economy minister said his country is seeking US$45 billion in foreign investment following the implementation of a landmark nuclear deal with world powers last month.
 
The Dubai construction company that helped build the city's record-breaking Burj Khalifa and many other buildings in the United Arab Emirates says it lost more than US$600 million last year as building slows amid a slump in oil prices.
 
More countries in the Middle East are turning toward the yuan, with mainland China's bid to revive the ancient silk routes expected to give the "redback" a boost in the region.
 
Iran's stock exchange reaches one-year high after nuclear agreement
The Tehran Stock Exchange has rallied to a one-year high after Iran's landmark nuclear deal with world powers went into effect last month, a spokesman for the exchange said Tuesday.
 
Saudi Arabia races to attract more investment, create jobs in overhaul
Saudi Arabia is racing to attract more investment and overhaul its economy as low oil prices expose it to urgent domestic challenges.
 
Mainland Chinese leader Xi Jinping announced Thursday billions of U.S. dollars in special loans and investments in the Middle East as Beijing seeks to boost its economic ties and clout in the region.
 
Dubai tower blaze shows risks in common material
Within minutes, the revelry of New Year's Eve in Dubai turned to horror as those gathered for fireworks downtown watched flames race up the side of one of the glistening city's most prominent luxury hotels.
 
Pakistan's benchmark Karachi Stock Exchange (KSE) will become the Pakistan Stock Exchange next week after merging with two other bourses to become the single share trading entity in the country, officials said Friday.
 
Saudi shares dived at the start of trading Tuesday a day after the oil-rich kingdom announced a record US$98 billion deficit this year and said it was drastically cutting fuel subsidies.
 
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