Qatar Petrochemical Company has awarded construction contracts worth QR604 million to expand its ethylene plant.
Kuwait’s sovereign wealth fund has obtained approval to initially invest up to $300 million in China’s securities market.
The 750 million renminbi bond, which matures in 2015, was 5.7 times oversubscribed, the bank said.
The issuance of Islamic bonds in the region could reach over $14 billion this year because of increasing investor demand, according to HSBC.
The utilities unit of Drake & Scull International has won the Dhs100 million contract to set up a water system for a thermal power station in India.
Regional unrest might affect China’s oil input, which in turn will have a drastic impact on global asset prices, said hedge funds guru Marc Faber.
A Korean consortium has signed a deal with ADNOC to acquire a 40 per cent stake in three oilfield projects in the UAE.
Saudi Arabia has increased the price of its Arab Light crude oil for customers in Asia by $1.25 a barrel for April.
The Japanese bank has received approval to offer foreign investors access to Saudi Arabia’s bourse.
The Kingdom is concerned about keeping the global oil market well supplied as demand from Asian countries increases.
The decision follows the ruling of an Indian court to cancel 122 telecoms licences in the country amid a corruption scandal.
The region’s trade with Russia, India and China is set to grow much faster than trade with developed economies.
Sovereign wealth funds from the UAE and Kuwait have reportedly agreed to buy stakes in India’s ONGC.
The two companies are in negotiations to build a methanol complex in Trinidad and Tobago.
The Bahraini telecoms operator will receive $174.5 million, the same amount that it paid to purchase the stake in the Indian firm.
Saudi Arabia might increase crude oil supplies to South Korea as Seoul looks for alternatives to Iranian oil.
The country is scrambling to find an alternative to its threatened primary supply from Iran, Oman’s oil minister has said.
The country’s first trade deficit since 1980 raises questions how Japan will finance its huge public debt.
Amid the Dubai real estate meltdown, UAE contractor Drake & Scull International is chasing growth in Saudi Arabia and Asia.