INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Iranian envoys get Saudi visas for diplomatic posts

Saudi Arabia is likely to witness a growth of 7 percent, its highest in a decade.
  • Three diplomates from Iran receives Saudi visa for OIC posts in Jeddah
  • Iran and Saudi Arabia held several rounds of talks since April to improve diplomatic relationships

Three Iranian diplomats have received visas from rival Saudi Arabia allowing them to take up posts at the headquarters of the Organization of Islamic Cooperation (OIC) in Jeddah, officials said on Friday, December 24.

Shia-majority Iran and the Sunni Kingdom of Saudi Arabia, both members of the pan-Islamic body, have held several rounds of talks since April aimed at improving relations.

In 2016, the kingdom’s execution of revered Shia cleric Nimr al-Nimr saw protesters attack Saudi diplomatic missions in Iran.

Riyadh responded at the time by cutting ties with Tehran, while OIC foreign ministers condemned the violence.

Riyadh and Tehran support opposite sides in several conflict zones across the region, but Iranian Foreign Minister Hossein Amir-Abdollahian and officials in Saudi Arabia confirmed visas had been approved for the diplomats.

“Saudi Arabia has agreed to grant visas to three Iranian diplomats as part of a routine procedure for representatives of a member state of the OIC,” a Saudi foreign ministry official said on Friday.