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Business

PepsiCo Ups Investments in Saudi Arabia to $1.6 Billion

PepsiCo Ups Investments in Saudi Arabia to $1.6 Billion

PepsiCo has said that it seeks to invest over six billion riyals ($1.6 billion) in Saudi Arabia over the next five years. The governor of the Saudi Arabia General Investment Authority (SAGIA), Ibrahim al-Omar, and Ramon Laguarta, chairman and chief executive officer of PepsiCo, met in Riyadh on W

'Friends of Sudan' Postpones Donors’ Conference to Next June

'Friends of Sudan' Postpones Donors’ Conference to Next June

The “Friends of Sudan” group promised to offer great support for the transitional government in Sudan to overcome the obstacles facing the country's transitional period and decided to postpone the donors' conference to June. Sudanese Minister of Finance Ibrahim al-Badawi said: “Friends of Sudan”

Kuwait's Parliament Investigates Airbus Aircraft Purchase Deal

Kuwait's parliament on Wednesday formed a committee to probe alleged corruption in a deal between the national carrier and Airbus, which last month paid massive fines to settle bribery scandals. The parliament's decision came after a special debate on allegations that Airbus made illegal payments

Fitch Ratings: Lebanon Finances Point to Debt Restructuring

Fitch Ratings: Lebanon Finances Point to Debt Restructuring

Lebanon's financial situation points to a likely restructuring of the country's massive debt and financial sector to preserve declining foreign currency reserves, Fitch Ratings said Tuesday. The credit rating agency's report comes as Lebanese officials are debating whether to pay back $1.2 billio

Lebanon: USD Exchange Rates Hit Highest Records

Lebanon: USD Exchange Rates Hit Highest Records

The exchange rate of the dollar against the Lebanese pound in the parallel market registered on Monday an unprecedented rise in weeks, exceeding LBP 2,450.

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