bouteflika

Libyan fields return benefit OMV

OMV, the Austrian oil and Gas Company which is partly owned by Abu Dhabi, has recently posted a 25 per cent rise in revenues after the revival of its production in Libya which was forced to halt when the uprising gained momentum. The company’s overall oil and gas production increased by 5 per cent last year with much of […]

Brazil turns down Ankara’s extradition request of outlawed Hizmet member

Brazil’s Supreme Court Tuesday dealt a blow to Turkey after it ruled out Ankara’s demand for the extradition of a member of the Hizmet organization, outlawed by Turkish authorities for its alleged terror traits. Ankara submitted an extradition demand for Ali Sipahi, a businessman and owner of restaurants in Sao Paulo. Sipahi is member of […]

Egypt inks ‘historic’ $35bn deal with UAE, hoping to ease dollar squeeze, save economy

Egypt and the United Arab Emirates (UAE) have signed a landmark $35 billion investment deal to develop Ras al-Hekma peninsula on the Mediterranean coast that, economists say, will inject $35 billion of foreign direct investment into the struggling Egyptian economy, helping it to bolster economic growth and address a hard currency crisis. The deal is […]