Nord Stream, a 1,200km gas pipeline project running from Russia through the Baltic Sea to Germany, is looking to raise the first phase of financing in Q3, raising US$3.5bn.
Vnesheconombank (VEB), Russia's State Corporation Bank for Development and Foreign Affaris, and the China State Development Bank (CSDB) entered into a credit agreement for an amount of US$310mn on June 14.
Saudi Arabia’s Jabal Omar Development Company has terminated a contract with the local investment bank Jadwa Investment to raise SR12.2bn (US$3.3bn) to finance the development of a real estate project in Mecca.
Eastern Europe is facing a severe recession, but not a collapse, according to Thomas Mirow, president of the EBRD.
On November 22, Qatar opened its Museum of Islamic Art, in a stunning building designed by I.M. Pei. It was the latest salvo in the multi-billion-dollar competition for the title of cultural capital of the Gulf.
Investors in Mongolia say the country’s lively but fractured political landscape is putting the economy at risk and holding back significant investments by foreign multinationals.