Category: Middle East

Why Aramco IPO Won’t Happen Until 2019–at the Earliest

A $1.5 Trillion Aramco IPO Could Transform Global Stocks April 22, 2018 (Irshad Salim): The debate over which international stock exchange should be the venue for listing Saudi Aramco–the world’s most valuable company, has yet to be resolved while the timing of the initial public offering (IPO) appears to have been somewhat narrowed down. The […]

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Toy Drone Shot Down Over Restricted Area in Riyadh

April 22, 2018 — Saudi police shot down an unidentified remote-controlled drone Saturday night after it was detected flying over a restricted area in capital Riyadh without a security clearance. The drone, believed to be a toy, was intercepted by officers at Al Khuzama police station, a spokesperson for the Riyadh Police Department said. The […]

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Binladin Group Receives Multi-Billion Dollar Government Loans

The money will be used to prioritize work on projects deemed key to the government, as well as to pay staff and creditors. April 21, 2018: Saudi Arabia’s finance ministry has provided Saudi Binladin Group (SBG) with loans of around 11 billion riyals ($2.9 billion) to help turn around the fortunes of the construction giant, […]

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Iran to Replace US Dollar With Euro in Financial Reports

The Iranian rial has lost nearly two-thirds of its value to the US dollar over the last year; Amid currency crisis, the switch is aimed at circumventing restrictions on accessing US dollar and prevent market instability. April 20, 2018 — The government of Iran has announced plans to replace the US dollar with the euro […]

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16 So Asian Sailors Stranded Off UAE Onboard Tanker For Over a Year

(DESPARDES/PKONWEB) — Fifteen Indian sailors and one Pakistani seafarer are stranded onboard a tanker 15 miles off the coast of UAE due to a legal dispute involving the ship owners. The sailors, who are stranded onboard MT Zoya1 for over a year now, have also not been paid salaries for four months. The ECB International […]

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Years after his hanging, Saddam Hussein mystery lives on

In his native village of Al-Awjah, the mausoleum of Iraq’s executed dictator Saddam Hussein has been reduced to broken concrete and tangled barbed wire, showing no trace of his remains. The man who ruled Iraq with an iron fist for a quarter of a century was hanged at dawn on December 30, 2006, symbolizing the […]

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Middle East: a Threat to World Peace & Security, Warns UN Chief

UN Secretary-General António Guterres in an address to the Security Council warns of threat to world peace and security because of the situation in Middle East. By ANTONIO GUTERRES — The situation in the Middle East is in chaos — to such an extent it has become a threat to international peace and security. The […]

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Putin Holds SECRET CONVERSATION With Erdogan on Syria Following US-led Airstrikes

(DESPARDES/PKONWEB) — Russian president Vladimir Putin has held secret conversations with the President of Turkey, Recep Tayyip Erdoğan, as the two countries look to strengthen relations following the airstrikes on Syria launched early Saturday morning. In a phone call on Saturday the two men discussed the military strikes carried out by the West as they […]

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Turkey Stops Thousands of Human Traffickers, Along With Illegal Immigrants

Europe chose “prevention of migration” while Turkey chose “management of migration.” (DESPARDES/PKONWEB) — Turkey’s Interior Minister Süleyman Soylu said Thursday that security forces last year captured 4,500 human smugglers profiting from illegal immigrants seeking access to Europe via Turkey. A favorite destination for migrants aspiring to reach EU countries, Turkey–bridge to Europe, has intercepted more […]

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Pakistan Naval Ship Alamgir Makes a 4-Day Port Call at Jeddah

(PKONWEB) — PNS Alamgir was on a 4-day visit to Jeddah Port after long and tiring 50 days operational duty at sea including a stop in Oman to celebrate Pakistan Day on 23rd March. During its port stop at Saudi western seabord, Mr. Tasawar Iqbal, Commanding Officer of Pakistan Naval ship PNS Alamgir, held a […]

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Asia Cup Tournament Shifted to UAE Over India-Pakistan Cricket Row

(PKONWEB) — Cricket’s Asia Cup has been moved from India to the UAE over Pakistan’s refusal to cross the border, as relations simmer between the arch rivals, the Asian Cricket Council said Tuesday. The multi-million dollar biennial cricketing event was due to be held in India in September, sparking protests from the Pakistan Cricket Board […]

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White House Approves $1.3 Billion Sale of Howitzers to Saudi Arabia

(PKONWEB/BE2C2) — The U.S. State Department said it has approved a possible foreign military sale to Saudi Arabia of 180 Self-Propelled Howitzers. The proposed foreign military sale “will support the foreign policy and national security objectives of the United States” by strengthening the defensive capabilities of Saudi Arabia, who is a contributing partner to stability […]

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Turkey, Russia, Iran Vow to Speed Up Efforts For ‘Calm’ In War-Torn Syria

Hedging on US Withdrawal? – Turkey, Russia, Iran Vow To Speed Up Efforts For ‘Calm’ In War-Torn Syria (PKONWEB) — The presidents of Iran, Turkey and Russia met on Wednesday in Ankara for their second tripartite summit in under six months, aiming to speed the peace process for Syria– despite some conflicting interests, the meeting […]

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