Middle East Business Review – 2 Apr

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A look at today’s financial news and business updates from the Middle East region:

UAE minister expresses concern over threats to regional shipping

The UAE’s economy minister expressed his concerns over persistent piracy, volatile oil prices and threats to shut down shipping lanes in the Gulf and urged a global response to counter such situations. Click here to read more…

UAE port operator consolidates acquisition fund with Russian partners

The UAE’s second largest ports operator announced on Monday it is setting up a $500m fund with its Russian partners as part of extending operations in the Gulf, Asia and Russia. Click here to read more…

Trucks stuck in long queues at UAE-Saudi border

Reports coming from Saudi-UAE border suggest a total of 4,000 trucks are waiting in an 18km lineup to cross the Al Sila check point. Truck drivers have been waiting to be allowed to cross the border but with little luck so far. Click here to read more…

Royal Jordanian seeks merger amid unprecedented crisis

Royal Jordanian Airlines said in a surprise statement it would be forced to seek a merger with a larger carrier in order to survive fierce competition from local rivals, high fuel prices and an economic downturn. Click here to read more…

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