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MENA News
Dubai’s GDP rises 3.3% in first 9m of 2023
Dubai’s economy has recorded an increase of 3.3 percent in the real gross domestic product (GDP) during the first…
War on Gaza to cost Israel 10% of GDP
The Israeli attacks on Palestinians in Gaza will cost around ten per cent of the Israeli Gross Domestic Product…
Bunker fuel prices soar amid Red Sea diversions
Bunker fuel prices soared in Africa and the Mediterranean amid increasing demand due to the diversions in the Red…
Emirates Steel Arka, Bahrain Steel sign $2bln 5-yr deal
Emirates Steel Arkan (ESA) and Bahrain Steel Company (BSC) signed a five-year iron-ore pellets (IOP) supply…
Oman launches 2 bln riyals fund
The Oman Investment Authority launched on Wednesday a two-billion Omani Rial investment fund called Future Fund…
Aramco boosts venture arm’s capital to $7 bln
Saudi Arabia oil giant Aramco said on Wednesday that it has allocated an additional $4 billion to its global…
Japan’s NYK suspends Red Sea navigation
Japan's Nippon Yusen (NYK), the country's biggest shipper by sales, put on hold Red Sea navigation for all the…
Shell to sell onshore oil business in Nigeria for $1.3bln
Shell Plc agreed to sell its Nigerian onshore oil assets for $1.3 billion to a group of local companies, known as…
Qatar, Russia divert vessels from Red Sea
Qatar and Russia, suppliers of liquefied natural gas, are avoiding the Suez Canal in light of heightened risks and…
Suzuki halts Hungary plant for 1 week over Red Sea attacks
Suzuki Motor said on Monday it will halt production of its Vitara and S-CROSS in Hungary for a week amid Red Sea…