Oil & Gas Aramco explores building oil refinery in Bangladesh By Pramod Kumar January 6, 2025, 11:34 AM Reuters/Ahmed Jadallah Aramco's Ras Tanura oil refinery and terminal. A proposed refinery in Bangladesh would meet local demand and serve regional markets Saudi Aramco is willing to build an oil refinery in Bangladesh to address local and regional demand, according to an official news report. The proposed refinery is expected to meet Dhaka’s growing demand for petroleum products while serving regional markets such as China and India, state-run BSS news agency reported citing Saudi envoy Essa Al Duhailan. Despite a high-level Aramco delegation visiting Bangladesh thrice between 2016 and 2018, there were no developments on the investment front. Al Duhailan said a potential maritime link between Chattogram and Saudi port cities such as Jeddah or Dammam could bring “transformative changes” to Bangladesh and the region. Something old, something new: GCC energy trends in 2025 Remittances from UAE to Bangladesh surge 48% Saudi port operator to develop Bangladesh terminal He said that the kingdom’s Red Sea Gateway Terminal, which is operating the Patenga terminal, is open to manage Bangladesh’s Matarbari deep-sea port. Additionally, Saudi renewables company Acwa Power was planning to invest $3.5 billion in Bangladesh, Al Duhailan said, adding that reform of government procedures was key to attracting investments.
Construction Turkey to build low-cost housing to ease rent pressures Turkey has unveiled a new scheme to provide affordable homes for low-income earners and first-time buyers aimed at easing inflationary pressures generated by rising rents and helping to support the housing sector. Vice president Cevdet Yılmaz announced on Friday that state housing agency TOKİ would be overseeing the new low-cost housing programme, with work to […] 4 hours ago
Trade Jordan and Qatar trade volume rises 6% in 2024 Trade between Jordan and Qatar increased by 6 percent year on year in 2024 amid growing economic ties. The total volume reached QR910 million ($250 million), up from QR860 million in 2023, the state-run Petra news agency reported, citing data released by Qatar’s planning and statistics authority. Jordan’s exports to the Gulf state include consumer and […] 2 hours ago
Economy Arab investments in Egypt’s economy reach nearly $40bn Foreign direct investments from Arab countries into Egypt reached $39.5 billion in the last quarter of the fiscal year 2023-24, led by the UAE. The UAE’s investments in the construction sector reached $37.5 billion, accounting for 95.3 percent of the total incoming investments, Arabic-language Al Arabiya Business reported citing the central bank of Egypt data. […] 2 hours ago
Energy Turkey to triple cross-border electricity links Turkey is aiming to triple its electricity interconnections with neighbouring countries and is set to supply power to Syria soon, a news report said. Ankara supplies electricity to Iraq, Daily Sabah newspaper reported citing energy and natural resources minister Alparslan Bayraktar’s speech at a panel discussion at the International Renewable Energy Agency (Irena) assembly in […] 40 mins ago
