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Iraq Puts Losses From US-Iran War at About $60 Billion as Hormuz Disruption Hits Oil Exports

Iraq has lost an estimated $60 billion during the war between the United States and Iran, Foreign Minister Fuad Hussein said, as disruption in the Strait of Hormuz cut the country's oil exports.

Japan’s Macnica to Buy 50.1% of Dubai Cybersecurity Firm CyberSec IT Consulting

Macnica Holdings agreed to buy a 50.1% stake in Dubai-based CyberSec IT Consulting to expand its cybersecurity services in the Middle East and Africa, the Tokyo-listed group said on October 16.

RBI Approves Merger of Emirates NBD’s India Branches Into RBL Bank From December 1

The Reserve Bank of India approved the amalgamation of Emirates NBD's Indian branches with RBL Bank, in which the Dubai lender holds 60%, with effect from December 1, 2026.

Brent Settles at $109.86, Highest Since May, as Attacks Near Hormuz and on Saudi Arabia Mount

Brent crude rose 3.7% to settle at $109.86 a barrel on Friday, October 16, its highest close since May 19, as attacks on shipping near the Strait of Hormuz and on Saudi Arabia kept Gulf supply risks in focus.

Etihad and Southwest Airlines to Link Loyalty Programs From Spring 2027

Etihad Airways and Southwest Airlines will let members of their loyalty programs earn and redeem rewards on each other's flights from spring 2027, the Abu Dhabi-based airline said on October 16.

QatarEnergy and TotalEnergies Agree on Lebanon Solar Plant as Qatar Nears Power Project Deal

QatarEnergy has reached an agreement with TotalEnergies to jointly develop a solar power plant in Lebanon, Qatar's prime minister said in Beirut on October 16, as the two governments near a deal on a wider electricity project.

Dubai Investments Park Plans Investor Meetings for Possible UAE IPO, Bloomberg Reports

Dubai Investments Park Development Co. plans to meet potential investors from October 19 to 26 to gauge demand for a possible initial public offering, Bloomberg News reported, citing people familiar with the matter.

Saudi Arabia and Iraq Drive 1.78 Million bpd Jump in OPEC September Output, Reuters Survey Finds

OPEC crude output rose by 1.78 million barrels per day in September to 21.49 million bpd, led by gains in Saudi Arabia and Iraq, a Reuters survey published on October 16 found.

Activate Capital Joins QIA’s $3 Billion Fund of Funds and Plans Doha Office

Qatar Investment Authority has become a limited partner in San Francisco-based Activate Capital, which joins QIA's $3 billion Fund of Funds program and will open its first office outside the United States in Doha.

Mashreq Prices Inaugural CNH1 Billion Dim Sum Bond at 2.50% Coupon

Dubai-based Mashreqbank PSC (Mashreq) has priced a CNH1 billion ($139 million) three-year senior unsecured Dim Sum bond at a fixed coupon of 2.50%, its first public issuance in the offshore renminbi market.

Qatar Stocks Post Fifth Straight Weekly Loss as QE Index Falls 2.17%

The Qatar Stock Exchange's main index fell 2.17% in the week ended Thursday, October 15, its fifth consecutive weekly decline, with losses across all sectors.

Saudi Inflation Edges Up to 1.9% in September as Rents and Transport Costs Rise

Saudi Arabia's annual consumer price inflation rose to 1.9% in September from 1.8% in August, while prices were unchanged from the previous month, official data showed.
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