Iraqi cabinet approves $9.4bn supplementary budget
Iraq’s cabinet has approved a supplementary budget for 2012 of 10.875 trillion Iraqi dinar ($9.35 billion), in addition to the...
Business & Economy
$515m investment licenses granted in Baghdad
The Chairman of Baghdad Investment Commission, Shaker al-Zamili (pictured), has announced that five investment licences worth $515...
Sabic and Exxon Mobil to proceed with $3.4 billion elastomers project in Jubail
Saudi Basic Industries Corporation (Sabic) and affiliates of Exxon Mobil announced that they will construct an elastomers facility at the...
GCC petrochemical production capacity hits 116 million tons
Petrochemical firms in the Gulf Cooperation Council (GCC) region increased their total production capacity to more than 115.994 million tons...
GCC banks’ recovery to continue
Gulf banks will continue their steady recovery from the 2008 crisis and remain isolated from euro zone turmoil for the...
Saudi Mortgage law opens Kingdom to home lending surge
Saudi Arabia’s mortgage law, approved two days ago after more than a decade of debate, will encourage banks to expand...
GCC fertilizers products expected to reach 32 million tons by 2016
Total production of GCC fertilizers products is expected to reach nearly 32 million tons by 2016, compared to 21 million...
BoFA Merrill Lynch foresees a robust 2012 growth for GCC countries
According to Bank of America Merrill Lynch, GCC countries are set to report a robust real GDP growth of 4.3%...
GS Engineering and Construction wins $1.8 billion Saudi deal
South Korea's GS Engineering and Construction announced that it has won a US$ 1.8 billion deal to build four petrochemical...
New Saudi law expected to boost the mortgage market
The Saudi Council of Ministers, chaired by Custodian of the Two Holy Mosques King Abdullah, approved the much-awaited mortgage law,...
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