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December, 11, 2016

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Business > Middle East
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.
 
Saudi Arabia said Monday it was raising petrol prices by more than 50 percent for some products from Tuesday as it cuts a range of subsidies after posting a record budget deficit.
 
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