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No quick start for trade finance operations in Iran

The deal between Tehran and the P5+1 powers over Iran’s nuclear programme should, as international sanctions are lifted, eventually make Iran the biggest economy to rejoin the global trading and financial system since the break-up of the Soviet...

Gulf stock exchanges seek traction from Saudi opening

Rather than gaining a bounce from the opening up of the Saudi stock exchange (Tadawul), regional equities markets have been hit hard in the past month by the global turmoil related in part to collapsing Chinese markets. In a 24 August note,...

Iran/Iraq: Regional customers seek to revive gas agreements

Gas Authority of India (Gail) says it has restarted negotiations to renew a $22bn liquefied natural gas (LNG) purchase contract with National Iranian Gas Exports Company (Nigec), which was blocked by National Iranian Oil Company (Nioc) as long...

Malaysia’s 1MDB scandal poses difficult questions for Gulf grandees

Despite efforts to limit information reaching the public domain, ever more questions are being asked about influence-peddling and financial governance as the 1Malaysia Development Berhad (1MDB) scandal that has rocked Malaysia plays itself out....

Obama builds a continental legacy supported by private power investors

US President Barack Obama’s 24-28 July trip to East Africa balanced a broad agenda of sometimes contrary pressures that mixed business, diplomacy, security, human rights and appeals for improved governance. In two major speeches, Obama spoke out...

UK SFO probes Soma over Somali payments

The UK’s Serious Fraud Office said on 31 July that it had opened an investigation into Soma Oil & Gas in relation to allegations of corruption in Somalia. The investigation follows a report by the United Nations Somalia and Eritrea Monitoring...

Masen launches next generation of Moroccan solar IPPs

Having reported that construction of its first solar unit at Ouarzazate, Noor I, developed by a group headed by Riyadh-based Acwa Power, has been brought in 30% under budget, Moroccan Agency for Solar Energy (Masen) is looking at a range of other...

Ghana: WB guarantees for Sankofa gas

The World Bank has announced a record investment of $700m in guarantees for Eni and Vitol’s Sankofa gas project, which it says will help mobilise private investment to address Ghana’s serious energy shortage. The World Bank board on 30 July...

Nigeria’s Buhari to split NNPC in fight against corruption

With revenue heavily dependent on oil receipts, the collapse in crude prices has left public sector finances in dire straits, reigniting talk of removing fuel subsidies. However, after weeks of silence, the government has deferred a decision,...

Iraq: Erdogan’s military intervention adds to volatile Kurdish dynamics

The Turkish Air Force (THK)’s bombing of positions held by Islamic State (IS, also known as Daesh) in Iraq, which opened on 25 July, was welcomed by the United States and its allies in the conflict with the expansionist jihadist movement. Even...

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