The Briefing

Weekly business & investment updates curated for you.

Erbil Rotana

Turkmenistan ups oil output by 9.76 million tons — Turkmenistan increased its oil production by up to at 9.76 million tons over the first nine months of 2015, the country’s Ministry of Oil and Gas Industry and Mineral Resources reported. The total volume of investments spent since the beginning of 2015 in the energy sector of Turkmenistan totaled over 6.726 billion manats. This is 42.3 percent more than during the first nine months of 2014. The resources of the Turkmen shelf of the Caspian Sea are estimated at 12 billion metric tons of oil and 6.5 trillion cubic meters of gas.

Indonesia set to rejoin the OPEC — According to the EIA, Indonesia’s petroleum consumption reached nearly 1.7 million barrels per day in 2014, while domestic refinery output supplied only 55% of domestic consumption. While the country does import more petroleum products than it exports, its production is still substantial. Indonesia produced 911 MBOPD of petroleum and other liquids in 2014, ranking as the 22nd-largest oil producer in the world and accounting for about 1% of total global production, according to the EIA.

Ecuador's Rafael Correa pushes for foreign investment — After eight years of state spending that was made possible by the commodity boom, the country is being forced to tighten its belt, and Correa is seeking more foreign direct investment.

$10 Billion Quest to Discover Japan’s top entrepreneurs — Toshiyuki Shiga is on a $10 billion quest to discover Japan’s top entrepreneurs, who can start companies as globally competitive as Tesla Motors Co. and Apple Inc. The former chief operating officer of Nissan Motor Co. described the search as an urgent mission for Innovation Network Corp. of Japan, the state-backed investment fund he took over as chairman in June.

UAE and India to enhance investments, bilateral ties — India is the UAE's second largest trade partner after China as trade between India and the UAE crossed $59 billion per year, with Indian exports worth $33.3 billion to the UAE and $26 billion worth of UAE's exports to India.

Turkey to launch new telecommunications satellite — The TURKSAT 4B Communication Satellite is Turkey’s sixth to be put into orbit and will work in tandem with a similar one named Turksat 4A.

Oman Air takes delivery of first 787 Dreamliner — Oman Air has announced that it will deploy its first Dreamliner on services to Saudi Arabia and Europe.

Top 5 bridge projects in the GCC — Some of the ambitious transport links around the region.

Bahrain's Gulf Air to buy 50 aircraft — The airline would look at leasing as well as financing options to acquire new aircraft. These would be put on Gulf Air's current routes as well as new destinations that fit with its growth plans.

Qatar's gross national income falls 17.2% — Qatar’s gross national income (GNI) plunged 17.2% year-on-year to QR150.81bn in the second quarter (Q2) of this year.

Singapore: A Global Hot Spot for Entrepreneurship — Singapore ranks as the tenth hottest start-up ecosystem worldwide, according to a report from research firm Compass. The city-state boasts about 3,600 startups in sectors as wide-ranging as e-commerce to social media to gaming. Here's why the Lion City was recently ranked the Asian Pacific leader for entrepreneurship.

The Briefing

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