FAB plans $4.08bn rights issue

UAE’s largest bank seeks capital for growth.

flydubai launches new flights

Riga, Salzburg, Vilnius flights begin from Dec

ADNOC Gas Q3 profit $1.34bn

Stronger earnings support higher full-year outlook

Agthia 9M profit nearly triples

Third-quarter revenue increased 14.4 percent.

UAB nine-month profit rises 6%

Loan growth, lower impairment charges boost earnings

Turkey to drill for gas in Mediterranean early next month

Turkish Energy and Natural Resources Minister Fatih Donmez waves to the drilling ship ‘Yavuz’ which will search for oil and gas off Cyprus, at the port of Dilovasi, outside Istanbul. (AFP)
  • The EU came close to sanctioning Ankara in 2020 for pushing into contested east Mediterranean waters in search of fresh natural gas reserves
  • Turkey disputes its maritime borders in the eastern Mediterranean with EU members Greece and Cyprus
Turkey will resume gas exploration off its coast in the Mediterranean on August 9, the energy ministry said Tuesday.
“Turkish drilling ship Adbulhamid Han will start a mission in the Mediterranean on August 9 departing from the Mersin port” in the south of the country, it said in a statement.It did not say where exactly the drilling would take place, but a top Turkish official last week said it would carry on with exploration near the divided island of Cyprus next month.The European Union came close to sanctioning Ankara in 2020 for pushing into contested east Mediterranean waters in search of fresh natural gas reserves.Turkey disputes its maritime borders in the eastern Mediterranean with EU members Greece and Cyprus.

The island of Cyprus has been divided since 1974 when Turkish forces occupied the northern part of the island in response to a military coup sponsored by the junta in power in Greece at the time.

The northern third is the self-declared Turkish Republic of Northern Cyprus (TRNC) recognized only by Ankara.

The southern part of the island is Greek-speaking and a member of the European Union.