Daily brief: Snowstorm paralyses Istanbul, new Kuwait Stock Exchange chairman

January 8, 2017 10:00 am

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

Heavy snow forced the closure of Turkey’s key shipping straits and cancelled flights on Saturday, as hazardous roads left many drivers stranded overnight in Istanbul. Here are the top seven business stories you need to know today.


Iran’s Arvandan sees oil output capacity up at 450,000 bpd by March

Iran’s Arvandan Oil and Gas Co hopes to raise its crude output capacity to 450,000 barrels per day (bpd) by late March, the oil ministry’s news website SHANA said on Saturday.


(Rouhani pledges to reverse Iran rial slide)


Istanbul snowstorm cancels flights, hits traffic

A snowstorm forced the closure of Turkey’s key shipping straits and sweeping flight cancellations on Saturday, while hazardous roads left many drivers stranded overnight in Istanbul, a city of 15 million people.


HMD Global launches first Nokia smartphone

HMD Global, the Finnish company that owns the rights to use Nokia’s brand on mobile phones, announced on Sunday its first smartphone, targeted for Chinese users with a price of $246.

New chairman for Kuwait Stock Exchange

The Kuwait Stock Exchange has named  Mohammed Ahmed Alsaqqaf as the new chairman for its board of directors, after its former chairman,  Essam Abdul Mohsen al-Marzouq, was named as Oil minister in December.


Facebook hires former CNN anchor Campbell Brown for news role

Former CNN reporter, anchor and host Campbell Brown is joining Facebook Inc to lead its news partnerships team, an appointment aimed at repairing the online social media company’s troubled relationship with the traditional media.


(Revealed: This is how Facebook plans to fight fake news)


Saudi prince readies strategy if clerics oppose reforms: report

The young prince leading Saudi Arabia’s drive for economic reform has laid out a three-pronged strategy to avoid a backlash from any religious conservatives opposed to his plan, according to remarks reported by Foreign Affairs magazine on Saturday, Reuters reported.


Abu Dhabi’s Crown Prince donates $10mn to Morocco’s Mohammed V Foundation

His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has donated US$10 million in support of Morocco’s Mohammed V Foundation for Solidarity, state news agency, WAM, reported.


(Drones and robotics: UAE and Morocco lead ‘Smart’ MENA activities)


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.