Middle East · 10:26 AM UTCSaudi Arabia plans new national airline as it diversifies from oil
Saudi Arabia's Crown Prince Mohammed bin Salman announced plans on Tuesday to launch a second national airline as part of a broader strategy to turn the kingdom into a global logistics hub as it seeks to diversify from oil.
Middle EastLebanon parliament approves cash subsidy costing $556 mln annually
Lebanon's parliament on Wednesday approved cash payments for poor families, to cost $556 million annually, a member of parliament told Reuters, planned as a step that would allow the curbing of a $6 billion subsidy programme for basic goods.
Middle EastQatar Petroleum posts first-quarter profit rises 36% to almost $5 bln
Qatar Petroleum, one of the world's top natural gas suppliers, posted a profit of 18.1 billion riyals ($4.90 billion) in the first quarter of 2021, up from 13.3 billion riyals a year prior, a bonds prospectus reviewed by Reuters showed.
Middle EastTurkish mobile gaming startup Dream Games raises $155 million
Turkish mobile games startup Dream Games said on Wednesday it had raised $155 million from investors, valuing the business at $1 billion within months of launching its debut title, Royal Match.
Middle EastSaudi Arabia seizes 4.5 million amphetamine pills hidden in oranges
Saudi Arabia's customs have foiled an attempt to smuggle into the kingdom more than 4.5 million pills of amphetamines, locally known as Captagon, hidden in a shipment of oranges, state TV reported on Wednesday.
Middle EastSaudi Arabia's PIF considers buying Dubai design firm Depa, sources say
Saudi Arabia's Public Investment Fund (PIF) is considering buying Dubai-listed interior design and speciality contractor Depa Plc (DEPA.DI) to fit-out hotels under construction in the kingdom, three sources with knowledge of the matter said.
Middle EastDubai's DP World hires banks for sale of flagship free zone stake-sources
Dubai's DP World has hired banks to help sell a minority stake in its flagship business park, Jebel Ali Free Zone, which could fetch a few billion dollars, three sources familiar with the deal said.
Middle EastIran appoints new central bank chief - TV
Iran has appointed Akbar Komeijani as head of the central bank, a senior official told state TV on Wednesday.