Persian Gulf countries are studying a $10 billion plan to extend the length of a 2,177-kilometer (1,353-mile) rail line between Kuwait and Oman by 60 percent in order to link it to Yemen in the south of the Arabian peninsula.
Duet Mena Ltd. and Algebra Capital Ltd., Dubai-based managers of $500 million, said they may buy Islamic bonds from Malaysia’s Cagamas Bhd. , the first under a new structure that complies with the Persian Gulf’s stricter religious laws.
Doha Bank QSC, Qatar’s fifth-largest lender by assets, aims to triple profit from overseas to as much as 30 percent of net income by 2015 as trade and investment between Persian Gulf states and Asia increase.
After Egypt’s 2011 revolution, the U.S. was at pains to emphasize to Egypt’s new leaders the value of the rule of law. So it has been discomfiting to watch the Barack Obama administration ignore it since the July 3 overthrow of elected President Mohamed Mursi.
Bahrain’s and Oman’s oil refineries continued to operate as planned amid anti-government protests in the Persian Gulf states, officials at the two nations’ fuel- processing plants said. Exports weren’t interrupted, they said.
The four Persian Gulf states planning a single currency will temporarily halt their preparations because of the debt crisis facing the euro region, said Sheikh Mohammed bin Essa al-Khalifa , chief executive of Bahrain’s Economic Development Board.