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Middle East

Boeing appoints Bernie Dunn as head of Mideast business

Dunn had been president of Boeing Turkey and North Africa since July 2012 and succeeds Jeff Johnson.

Low oil prices slow IPO activity in GCC- PwC

The bearish run of oil prices- a key driver of economic growth in the region- has largely affected the IPO activity.

UAE’s Abraaj Group to invest $30m in Middle East SMEs

The company is investing in a new fund, which aims to address the funding gap for SMEs in the Middle East, North Africa and South Asia region.

Yemen government says no peace talks with Houthis yet

The government made no mention of the proposed peace talks, but instead called for military aid for groups fighting the Houthis and for international intervention.

South Africa’s FirstRand Bank raises $235m via two-year loan in Gulf

The loan was priced at 100 basis points over the London interbank offered rate, with the participation of nine institutions from the GCC.

Senior Iranian adviser says Saudis should not host Yemen talks

The statement comes as a conference of Yemeni parties convened in the Saudi capital on Sunday to discuss ways of ending Yemen’s political turmoil.

Saudi-led air strikes hit Yemen’s Aden after truce expires

Bombings struck the rebel-held presidential palace in Aden’s downtown area.

Oil prices rise on Middle East fighting; OPEC output eyed

Prices were supported by concerns that conflict in Iraq and Yemen could disrupt production or supply routes.

Saudi-led alliance resumes air strikes on Yemen as ceasefire ends

Explosions could be heard near Aden’s airport and the districts of Khor Maksar and Crater, a witness said.

ICBC Middle East plans benchmark dollar bond issue

It would be the first bond issue by ICBC through its DIFC branch, underlining the bank’s growing business in the Middle East.

UN Yemen envoy calls for truce to be extended for five days

The five-day humanitarian truce began on Tuesday to distribute aid to the millions deprived of food, fuel and medicine by weeks of fighting.

Obama seeks to reassure Gulf allies at summit, sees no early end to Syria war

The US leader said that the rare summit with Gulf Arab leaders was “very frank and honest”.

Egyptian court seeks death penalty for ex-president Mursi

Mursi and his fellow defendants were convicted for killing and kidnapping policemen, attacking police facilities and breaking out of jail.

Obama Seeks To Reassure Gulf Allies On Iran, Security At Summit

Tension over U.S. policy toward Tehran, Syria and the Arab Spring uprisings will loom over the meetings.

Saudi King Allocates SAR1bn For Yemen Relief Centre

The money would be in addition to another SAR1 billion the monarch had pledged, Al Arabiya said.

Iran Says Saudi-Led Forces Cannot Inspect Yemen-Bound Ship

A military coalition led by Saudi Arabia has imposed inspections on all ships entering Yemen.

Closer Defence Ties Between US, Gulf Critical To Terrorism Fight -Kerry

US President Obama is holding a summit with the six GCC nations to discuss Iran, Yemen and other security issues.

Yemen Truce Starts After Shelling, Iran Sends Cargo Ship

The five-day humanitarian truce in Yemen came into effect at 11 pm on Tuesday.

Saudi-Led Air Strikes Hit Yemen Capital Hours Before Ceasefire

Residents said three air strikes hit a base for army units loyal to the Houthis in the north of the capital.

Emirates Adds Third Daily Flight To Beirut

The additional service will increase Emirates’ total number of weekly flights serving Lebanon to 21.

Moroccan F-16 Jet From Saudi-Led Coalition Crashes In Yemen

Yemen’s Houthi militia said tribesmen shot down the aircraft.

Heavy Bombing On Yemen Border Area By Saudi Forces And Houthis

Saudi Arabia has offered a five-day ceasefire starting on Tuesday evening to allow delivery of humanitarian supplies into the country.

Moroccan F-16 jet From Saudi-Led Coalition In Yemen Goes Missing

The pilot of a second jet in the same squadron could not see if the pilot had ejected from the jet.

Top Egypt Medical Firm Sees London IPO 11 Times Oversubscribed

Integrated Diagnostics Holdings priced its offering of 65.2 million shares at an $4.45 per ordinary share.

Different Arab money

With Oil Prices Low, GCC States Agree To Push Value-Added Tax Plan

However, officials did not give any time frame for VAT to be introduced or specify the likely tax rate.

Houthis Accept Five-Day Truce In Yemen Proposed By Saudi Arabia

A statement issued by the Houthis also asked for a political dialogue under the auspices of the United Nations to resume in order to resolve the conflict.

US, Gulf Allies Seek Agreement On New Security Measures -Kerry

The Obama administration faces a formidable challenge to allay Gulf Arab fears over a nuclear deal with Tehran.

Regional Crises Push Turkey, Saudi Closer Despite Ideological Rift

The rapprochement between two of the Middle East’s biggest powers already appears to be paying dividends in Syria.

Saudi-Led Strikes In Yemen Break International Law – UN

Scores of civilians were reportedly killed and thousands forced to flee their homes after the coalition declared the entire governorate a military target.

Will Gulf Carriers Triumph Over US Airlines In The Subsidy Row?

Dto Gulf airlines really get unfair assistance from their governments, or are US carriers looking to stifle the competition?