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  • Top Dubai, Israeli Banks Seek to Cooperate After Peace Deal

    The biggest banks in Dubai and Israel are in talks to collaborate following this month’s landmark peace agreement between the Jewish state and the United Arab Emirates. Discussions between Bank Leumi and Emirates NBD Bank PJSC are at an early stage and no final decisions have been made, according to a person familiar with the matter, who asked not to be identified because the talks are private. The person declined to give further details.

  • World Bank halts country business climate rankings to probe data irregularities

    The most recent Doing Business report here published in October 2019, showed that Middle East countries sharply improved their rankings, with Saudi Arabia climbing 30 places to rank 62nd and Jordan jumping 29 places to 75th. New Zealand was ranked highest for the fourth year in a row, followed by perennial high-rankers Singapore and Hong Kong.

  • After port blast, rudderless Lebanon drifts towards the rocks

    Three weeks after the catastrophic explosion at Beirut port, Lebanon is drifting towards even more trouble as its politicians fail to agree a new government that can arrest a financial meltdown.

  • Netanyahu vows ‘forceful’ response if more attacks from Lebanon

    Israel said earlier it had launched air strikes against Hezbollah observation posts in Lebanon after shots were fired from across the border towards its troops the previous evening. The border flare-up came hours after Lebanon rejected an Israeli call to reform the UN peacekeeping force which patrols the border ahead of a UN Security Council vote to renew its mandate.

  • Taliban truck bomb, other attacks kill dozen across Afghanistan

    At least 12 killed as wave of attacks, including Taliban suicide blast in Balkh, hit Afghanistan in the past 24 hours.

  • Lebanon’s invisible: Refugees, COVID-19, and the Beirut port explosion

    Refugees currently comprise around 20 percent of Lebanon’s population, and they were in distress even before the explosion. With Lebanon’s main port destroyed, the World Food Program (WFP) has warned of a cutoff in basic food supplies. Already among the most vulnerable populations in Lebanon, Palestinian and Syrian refugees will now face increased food insecurity.

  • Saudi Arabia latest to ban open loop scrubbers

    Saudi Arabia has joined the list of countries to ban the use of open loop scrubbers at the country’s ports. According to a circular by Saudi Port Authority, ship exhaust wash water from open loop exhaust gas cleaning systems are not allowed to be discharged in Saudi ports until an environmental standard is issued. Earlier this month, Oman also announced a ban on open loop scrubbers in its territorial waters.

  • Saudi Arabia’s SABIC picks banks for dollar bond – sources

    Saudi Basic Industries Corp, the world’s fourth-biggest petrochemicals firm, has picked banks to arrange a U.S. dollar denominated bond issue, two sources said, as corporates and governments in the Gulf seek to raise cash amid a recession.

  • Rising provisions take toll on Saudi bank profits in first half of 2020

    Rising loan loss provisions adversely impacted profits of Saudi Arabia’s banks in the first half of 2020 despite an improvement in loan growth and total revenues, according to rating agency Moody’s.

  • Afghans halt prisoner release, delaying talks with Taliban

    The Afghan government said Monday it would not release the last 320 Taliban prisoners it is holding until the insurgents free more captured soldiers, defying a traditional council held last week and further delaying intra-Afghan talks sought by the United States.