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

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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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    Azerbaijan, Iraq discuss prospects of relations

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    Oman inks pack to bolster role of SMEs in food systems

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      Deal signed to set-up first factory in Qatar to assemble electric vehicles

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      Iraq set to award new Faw Port deals

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      Miral’s premier Abu Dhabi waterfront project work on track

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        Investments in renewables in Egypt reach LE6 bn: Official

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

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        JGC lands $3.7bn Iraq refinery upgradation project deal

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          Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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          COVID-19 vaccine could be available by autumn: Oxford University

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

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

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          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

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

          Oman inks pack to bolster role of SMEs in food systems

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            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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            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

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Miral’s premier Abu Dhabi waterfront project work on track

            Miral’s premier Abu Dhabi waterfront project work on track

            Aecom wins Neom utilities infrastructure design contract

            Aecom wins Neom utilities infrastructure design contract

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              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

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                UAE sends medical aid to Iraq to fight COVID-19

                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                COVID-19 vaccine could be available by autumn: Oxford University

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                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

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              South Korean firms eye Iran after sanctions relief

              Yonhap

              January 19, 2016
              in Economy, Infrastructure
              0

              South Korean companies are expecting to find a slew of business opportunities in Iran as the lifting of sanctions on the oil-rich nation could open up new investments to rebuild its battered economy, industry officials said.

              The U.N. nuclear agency certified that Iran has met all of its commitments under last summer's landmark nuclear deal to crimp Tehran's ability to make atomic weapons. For Iran, the move lifts Western economic sanctions that have been in place for years, unlocking access to frozen assets and resuming energy exports.
               
              Iran holds the world's fourth-largest oil reserves and the second-largest gas reserves, but international sanctions have stymied progress across its energy sector.

              Local construction companies have pinned hopes on new projects as Iran is set to make big investments to replace aged gas and oil facilities and major infrastructure.
               
              "Iran was one of the major trading partners before the sanctions and had good relations with Korean companies," said Eom Chi-sung, an official at the Federation of Korean Industries. "As the Iranian government is expected to expand investment in infrastructure, several construction and plant projects are expected to be up for grabs (for Korean companies)."

              According to a recent survey by the Korea Trade-Investment Promotion Agency (KOTRA) on 521 Iranian companies, 90 percent of respondents said they plan to expand trade with Korean companies following the sanctions relief, citing reasonable price and quality of products.
               
              In the past decades, South Korean builders had clinched deals worth US$12 billion with Iran, but since 2009, there have been few deals due to the economic sanctions that the United Nations imposed for its nuclear weapons program in 2010.

              The Korea International Trade Association (KITA) projects that Iran's construction market will reach $154 billion in 2016, sharply up from $88.7 billion in 2013.

              Steelmakers and airlines are also positioned to benefit from low oil prices as Iran's crude oil will flow into the global market, further driving down already low oil prices.

              Korean refiners are seeking ways to diversify their import lines, which will eventually help them improve their earnings.
               
              Last year, only two refiners — SK Innovation Co. and Hyundai Oilbank Inc. — imported Iranian oil, except S-Oil Co., which is owned by Saudi Arabia's state-run oil company, Saudi Aramco.
               
              "We have closely monitored the situation as it was widely expected the Iranian sanctions were soon to be lifted," said an official at a refiner in Seoul. "Diversified sources of crude oil are expected to give more leeway to stockpile management."
              Yonhap
              19 January

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