Daily brief: Iran seals Boeing deal, oil prices soar post OPEC deal

December 12, 2016 9:52 am

Stack of newspapers, close up. (Image: Alamy)

Iran has signed a deal to purchase 80 Boeing passenger jets for $16.6 billion. Here are the top business stories you need to know about today.

Dubai Future Accelerators Programme ends first cycle

The first session of the Dubai Future Accelerators Programme has ended with the announcement of 19 projects worth AED120 million, for seven government entities, within seven different strategic sectors.

 

(Dubai rallies world’s most innovative companies to reach future vision)

 

“The Future Accelerators was just an idea a few months ago. It has now become the focus of international attention as an effective platform to address global challenges, and a means by which governments can address practical aspects of cities of the future with the cooperation of the private sector and owners in the innovation space,” Mohammed Abdullah Al Gergawi, Vice-Chairman of the Board of Trustees, and Managing Director of Dubai Future Foundation, was quoted as saying on the UAE official news agency, WAM.

 

Iran seals $17bn Boeing deal, close to Airbus order

Iran signed a deal to purchase 80 Boeing passenger jets for $16.6 billion, and said it was edging closer to buying more planes from Airbus. The orders would complete was is seen as the biggest package of firm contracts with Western companies since Iran’s Islamic revolution in 1979.

 

(US grants second Airbus license to sell planes to Iran)

 

Russia signs Rosneft deal with Qatar, Glencore

Russian state holding company Rosneftegaz signed a deal with the Qatar Investment Authority (QIA) and commodities trader Glencore on Saturday, selling a 19.5 per cent stake in state-owned oil major Rosneft, Rosneft said.

The success of the deal suggests the lure of taking a share in one of the world’s biggest oil companies outweighs the risks associated with Western sanctions imposed on Russia over the conflict in Ukraine.

 

RTA to open AED150m Deira Islands bridge to link new waterfront

Dubai’s Roads and Transport Authority (RTA), will open a bridge worth AED150 million on Friday, linking the city with Dubai’s new waterfront, the Deira Islands project, developed by Nakheel.

The project also included opening the navigational lane beneath the bridge by removing some two million cubic metres of sand in three landfill areas.

 

Oil prices soar on OPEC deal to cut oil output

Oil prices shot up by four per cent to their highest level since 2015 Monday, after OPEC and other producers over the weekend reached their first deal since 2001 to jointly reduce output in order to rein in oversupply and prop up the market.

 

(2016 OPEC deal: How we got here)

 

Italy hurries to form new government to avoid banking crisis

Italian President Sergio Mattarella asked Foreign Minister Paolo Gentiloni on Sunday to try to form a new government, giving him a mandate to lead Italy out of a political crisis caused by the resignation of Matteo Renzi.

 

UK’s Boris stresses friendship with Saudi Arabia

British Foreign Secretary Boris Johnson reiterated Britain’s close ties to Saudi Arabia on a visit on Sunday and said candor was also important, days after making comments widely seen as critical of the conservative Gulf Arab country.

 

Global Summit of Women Speakers of Parliament kicks off in Abu Dhabi

Over 1,000 participants from throughout the world, including 50 women speakers of Parliament, are participating in the Global Summit of Women Speakers, which kicks off in the capital of Abu Dhabi today.

The summit will be held under the theme “United for Shaping the Future” and is being organised by the Federal National Council, in collaboration with the Inter-Parliamentary Union (IPU).

 

(With Reuters)

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AMEinfo Staff
By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.



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