Chadbourne & Parke LLC acted as an adviser on the financing related to Barka Independent Water Project in Oman. The group sponsoring the project includes GDF SUEZ, ITOCHU Corporation, Engie Energy International and W.J. Towell & Co. LLC. The project is being developed on a build-own-operate structure in accord with a water purchase agreement with the Oman Power and Water Procurement Company. Read More »

Ali bin Fetais al-Marri, attorney general of Qatar, was elected last week to lead an international inter-governmental group dedicated to fighting corruption. Read More »

The Islamic Development Bank Group’s IRTI — Islamic Research and Training Institute — is preparing to assess the feasibility of matching United Nations-established sustainability goals as it organizes a May 16 global seminar in Jakarta, Indonesia. Read More »

The 8th Compliance & Anti Money Laundering Seminar in Saudi Arabia, hosted by Thomas Reuters, was held Monday in collaboration with the Saudi Arabia Institute of Finance. While addressing the opening session, Saudi Arabian Monetary Agency (SAMA) Vice Governor Abdulaziz Al Furaih highlighted that SAMA anticipates obtaining a full membership at the Financial Action Task Force in June 2018. Read More »

Fitch Ratings downgraded the long-term foreign and local currency Issuer Default Ratings of Saudi Arabia from AA to AA- as analysts cited a downward revision on oil price estimates and a widening of the central government deficit from 2.3 percent of GDP in 2014 to 14.8 percent in 2015. Fitch said the government will meet some of its financial needs by getting rid of foreign assets and borrowing. Read More »

Qatar has maintained its position as the fifth most popular destination globally in the Muslim travel market, according to the MasterCard-CrescentRating Global Muslim Travel Index (GMTI) 2016. Read More »

The Al Jazeera America network has shut its doors. The network started out with a mission to pursue long-form journalism and “smart” reporting, but the big audience never came, and, plagued by economic problems, the network shut down earlier this year. The network is still wrestling with a lawsuit filed by a former executive who says he was shortchanged by the network. Read More »

In April, the screens went dark on Al Jazeera America as the network, owned by Al Jazeera Media Network in Qatar, stopped broadcasting; its short-lived stint as a Western alternative media source was tumultuous and marked by drama and controversy. Some staffers alleged a misogynistic and anti-Semitic environment, and the network also faced economic and audience challenges. Read More »

Mobile telecom operator Zain Kuwait recently signed a memorandum of understanding (MoU) with the United Nations High Commissioner for Refugees (UNHCR) designed to improve living conditions, support and services for refugees worldwide. Read More »

Scoring exceptionally well in most parameters for ‘Muslim-friendly travel’ in the MasterCard-CrescentRating Global Muslim Travel Index (GMTI) 2016, Qatar maintained its position as the fifth most popular destination in the global Muslim travel market Read More »

U.S. newspapers have reported that the Qatar Foundation, a nonprofit founded in 1995 by Sheikh Hamad bin Khalifa Al Thani, has paid $400 million in 2014 to host six U.S. universities in a facility near Doha, Qatar's capital Read More »

Among the sovereign wealth funds that allow nations to make foreign investments in their national interests, the Qatar Investment Authority (QIA), representing the oil-rich Gulf state, is one of the wealthiest. This year, the QIA is poised to put $35 billion into a set of U.S. investments, including the buyout of a division of American Express and other key investments. The QIA also plans to set up a new office in New York. Read More »

With oil prices at low levels, IQPC Middle East, along with asset integrity professionals, will be holding the Asset Integrity Management Abu Dhabi conference in April to help oil and gas operators explore cost-effective approaches to ensuring their assets are safe. Solution providers will be highlighting efforts in assisting oil and gas operators manage their assets. Read More »

UL, along with the Saudi Arabian Standards Organization (SAS), recently stated that it has made an agreement to encourage UL Standards for Safety usage as Saudi Arabia continues to develop its own national safety standards. Read More »

PricewaterhouseCoopers (PwC) Middle East has released its most recent tax survey that suggests that streamlining and clarifying Saudi Arabian taxes and business regimes could help the area’s businesses gain new overseas investors. Many people see Saudi Arabia as a low tax or “no tax” nation. Unfortunately, the actual tax system is complicated and challenging for leaders to manage. Read More »

UBS Wealth Management has released data from a research project through its Chief Investment Office (CIO), indicating that oil is estimated to recover to $55 per barrel in the next year. Read More »

Consumer goods company Unilever has chosen OgilvyOne to help market three of its prominent brands in the Gulf region. Read More »

The Nasayem Al Bahrain Festival, a garden show designed to encourage a more environmentally friendly Bahrain, is part of Zain Bahrain’s environmentally driven CSR initiatives. Read More »

The Arabia CSR Network recently kicked off the ninth cycle of the Arabia CSR Awards. The awards recognize companies that demonstrate a commitment toward corporate responsibility, social accountability and sustainability. “The Arabia CSR Awards are seen as the Arab region’s own benchmark in CSR," Arabia CSR Network President and CEO Habiba Al Marashi said. Read More »

The United Nations said this week that the Qatar Development Fund has agreed to support Foundational and Short Term (FaST) activities in areas of Darfur supported by the United Nations Fund for Recovery, Reconstruction and Development. A total of $88.5 million will be supplied by Qatar, which is approximately half of the $177.4 million needed to fund the entire FaST program. Read More »