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    Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Egypt’s food industries contribute 24.5% of GDP

    Egypt’s food industries contribute 24.5% of GDP

    $36mln contract for construction of Duqm fisheries complex

    $36mln contract for construction of Duqm fisheries complex

    Ministry signs agreement to support Oman’s honey industry

    Ministry signs agreement to support Oman’s honey industry

    Local, Italian companies partner up to establish food retail chain in Egypt

    Local, Italian companies partner up to establish food retail chain in Egypt

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      Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

      Egypt’s food industries contribute 24.5% of GDP

      Egypt’s food industries contribute 24.5% of GDP

      Profits at top Saudi banks jump 17.6% in Q1

      Profits at top Saudi banks jump 17.6% in Q1

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      New study reveals that UAE is most competitive economy in the Arab world

      New study reveals that UAE is most competitive economy in the Arab world

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      • CES 2017
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      Oman Construction Equipment Industry to 2028

      Oman Construction Equipment Industry to 2028

      $36mln contract for construction of Duqm fisheries complex

      $36mln contract for construction of Duqm fisheries complex

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      Madayn working on major Oman industrial city projects

      Madayn working on major Oman industrial city projects

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Iraq set to award new Faw Port deals

      Iraq set to award new Faw Port deals

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        Suez Canal expects US$3.5 billion in revenues in H1

        Suez Canal expects US$3.5 billion in revenues in H1

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Investments in renewables in Egypt reach LE6 bn: Official

        Investments in renewables in Egypt reach LE6 bn: Official

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        JGC lands $3.7bn Iraq refinery upgradation project deal

        JGC lands $3.7bn Iraq refinery upgradation project deal

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        • Hospitality

          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

          Qatar’s hospitality sector peaks despite turbulent 2020

          Qatar’s hospitality sector peaks despite turbulent 2020

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Staycations to stimulate Qatar’s hospitality sector

          Staycations to stimulate Qatar’s hospitality sector

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        • Agrofood
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          • Agriculture
          • Environment
          • Food

          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Egypt’s food industries contribute 24.5% of GDP

          Egypt’s food industries contribute 24.5% of GDP

          $36mln contract for construction of Duqm fisheries complex

          $36mln contract for construction of Duqm fisheries complex

          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics

            Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

            Egypt’s food industries contribute 24.5% of GDP

            Egypt’s food industries contribute 24.5% of GDP

            Profits at top Saudi banks jump 17.6% in Q1

            Profits at top Saudi banks jump 17.6% in Q1

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            New study reveals that UAE is most competitive economy in the Arab world

            New study reveals that UAE is most competitive economy in the Arab world

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman Construction Equipment Industry to 2028

            Oman Construction Equipment Industry to 2028

            $36mln contract for construction of Duqm fisheries complex

            $36mln contract for construction of Duqm fisheries complex

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            Madayn working on major Oman industrial city projects

            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              Suez Canal expects US$3.5 billion in revenues in H1

              Suez Canal expects US$3.5 billion in revenues in H1

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Trending Tags

              • Hospitality

                Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

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              Korea-Iran summit paves way for $45.6 billion business deals

              The Korea Herald

              May 3, 2016
              in Finance, Infrastructure
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              South Korean President Park Geun-hye held landmark summit talks with her Iranian counterpart Hassan Rouhani and reached provisional deals in construction and energy worth $45.6 billion, the highest-ever at a single summit, Cheong Wa Dae said.

              Involving 66 memorandums of understanding, 30 nation-scale projects and a state-backed financial program worth $25 billion, as well as the largest-ever economic delegation, South Korea seeks to gain a foothold in the promising Iranian market hoping for a second Middle East boom.

               

              Both countries also echoed a need for denuclearizing the Korean Peninsula and eradicating terrorism from the Middle East.

              “President Rouhani and I have exchanged meaningful opinions on the common concerns of both countries,” said Park in a joint press conference following the bilateral summit held at Tehran’s Saa’dat abad Palace.

              The summit was the first since the two countries established diplomatic relations back in 1962.

              Her visit came some three months after the U.N. lifted its years-long sanctions on Iran in January in recognition of the latter’s consent to a restricted nuclear program.

              “As for regional issues, I have underlined the importance of Iran’s compliance of the U.N. resolution against North Korea’s nuclear activities,” Park said.

              The Iranian state leader upheld Park’s statements, placing much focus on regional peace.

              "It is our basic principle to eliminate all dangerous nuclear weapons both from the Korean Peninsula and the Middle East,” Rouhani said.

              The two state leaders also pledged cooperation in improving Iran‘s stalled economy and offering business opportunities to South Korean companies.

              “We will work to restore bilateral trade and investment, so that Iran may soon rebuild its economy and normalize its growth,” Park said.

              A meeting with Iran’s Supreme Leader Ayatollah Ali Khamenei was scheduled later in the day.

              An Chong-bum, senior presidential secretary for economic affairs, said that the bilateral trade volume is likely to bounce back to the pre-sanction levels.

              The South Korea-Iran trade volume, which stood at $17.4 billion in 2011, plummeted by 65 percent to a $6.1 billion as of end-2015.

              Shoring up the government’s economic achievement were a series of massive infrastructure and energy deals.

              A notable infrastructure deal was the $5.3 billion provisional contract to lay a 541 kilometer-long inland railroad connecting Esfahan and Ahwaz.

              Besides the $11.6 billion worth of deals that were signed during the summit, Korea’s state-run and private companies expect to further expand their profits during the coming years.

              Citing the Iranian government’s five-year development map, which seeks to achieve an annual growth rate of 8 percent by year 2020, South Korea’s Land Ministry and Maritime Ministry offered their partnership in constructing railroads and harbors in Iran.

              The Land Ministry is also tapping into Iran’s water resources management sector, focusing on dealing with water scarcity in the Middle East state.

              With an annual precipitation of 300 mm, Iran was designated by the World Resources Institute as the world’s 16th water-stressed nation, leading to forecasts that its water management market size will soar to $4.4 billion won in 2018 from $2.9 billion in 2013.

              The Iranian president, too, repeatedly quoted water shortage as the country’s top four crises, along with unemployment, inflation, and drug abuse.

              But the most profitable sector by far is the energy reconstruction business, involving Iran’s rich content in natural energy resources.

              The country, ranked the world’s single-largest holder of natural gas and the fourth largest of crude oil, has pledged to invest $500 billion in energy development projects by year 2025.

              “Adding to its unrivaled amount of undeveloped resources, Iran is also marked for its distribution-optimized location, nestled in between Central Asia, Middle East and Eastern Europe,” said An.

              The largest orders so far in the energy sector are the $10 billion worth Bahman oil refinery project and the $1.5 billion Iran-Oman submerged gas transportation pipeline construction, according to the senior Cheong Wa Dae official.
              The Korea Herald
              3 May
               

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