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May, 29, 2016

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Business > Middle East
India, Iran revive trade ties with port deal
India agreed Monday to finance the development of an Iranian port as a trading hub, as Prime Minister Narendra Modi sought to revive economic ties with Tehran after the lifting of sanctions.
 
Fluffing cotton
Laborers uses machinery to fluff raw cotton from a bale used to make pillows and mattresses at a traditional shop in Kabul, Afghanistan, Thursday, May 19.
 
Saudi Arabia's credit rating has been downgraded by Moody's because of the long and deep slump in oil prices.
 
Border traffic between Tunisia and Libya resumed on Saturday after the two countries reached a deal to lift a trade blockade at the main frontier crossing following angry street protests.
 
DAMASCUS - Syria's currency hit its lowest value since the start of the country's five-year conflict on Sunday, having depreciated more than 92 percent, an economist said.
 
Qatar bank admits some leaked customer data may be accurate
Qatar's largest bank acknowledged Sunday that some personal customer data that was leaked online may be authentic, and said it has hired an outside expert to review potential vulnerabilities to its computer systems.
 
Saudi Arabia unveils far-reaching plan to steer economy away from oil
Saudi Arabia said Monday it would create the world's largest sovereign investment fund and sell shares in state energy giant Aramco under a vast plan unveiled to transform its oil-dependent economy.
 
Kuwait's state oil firm said Wednesday that it expects to restore full production within three days after staff ended a strike in a surprise about-turn that triggered a renewed slide in world prices.
 
Israel's military said Monday it had located and destroyed a tunnel extending from the Gaza Strip into Israeli territory, in the first such discovery since a devastating 2014 conflict.
 
Afghan mineral wealth being looted by strongmen
The brilliant blue stone lapis lazuli, prized for millennia, is almost uniquely found in Afghanistan, a key part of the extensive mineral wealth that is seen as the best hope for funding development of one of the world's poorest nations.
 
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