The last date for submitting the offers is March 31.  (Wikipedia)
February 26, 2017 - 10:00 GMT
Three partially disputed offshore blocks bordering Israel will be among the five initially up for bidding in Lebanon’s first oil and gas licensing round.
Aramco has asked JPMorgan Chase and Morgan Stanley to assist with its upcoming mammoth IPO and could call on another bank with access to Chinese investors. (File photo)
February 26, 2017 - 09:00 GMT
Ahead of its mammoth IPO, the Saudi oil giant is considering allowing local investors to buy shares for a lower price than offered to international investors.
OPEC Secretary-General Mohammad Barkindo said there was strong coordination around the agreement, comments that followed reports suggesting stronger action in the second half of the year. (File photo)
February 26, 2017 - 08:00 GMT
OPEC said a joint committee monitoring the terms of the agreement held its inaugural meeting in Vienna to verify compliance on the production cut agreement made in January.
The inability to impose a cohesive monetary policy is normal given that the country is currently being ripped apart by an armed coup led by Houthi militia. (File photo)
February 26, 2017 - 07:00 GMT
Yemen's national currency is selling at different prices in Sana’a than rates in Aden, in addition to flagrant fluctuations on the black market exchange.
Misr Italia Deputy Chairman Mohamed al-Assal said his company was no longer in contact with Saudi Arabia over the deal. (Shutterstock)
February 26, 2017 - 06:00 GMT
An agreement to build housing units in Saudi Arabia has been suspended by Egyptian investors over a "breakdown in communications" between the two countries.
The government’s decision to raise the renewal fees of passports was a necessity to overcome a “tough” economic situation, with avoiding any impacts on other vital sectors in the state. (File photo)
February 26, 2017 - 05:00 GMT
After hiking temporary passport fees for Gazans eightfold from JD25 to JD200, the Jordanian government has reduced the increase to JD100.
This is for the first time a Saudi monarch is visiting Indonesia after the visit of King Faisal 46 years ago. (AFP/File)
February 23, 2017 - 12:00 GMT
King Salman will embark on a five-nation Asian tour next week, which includes the first Saudi royal visit to Indonesia in 46 years, and the first-ever Saudi royal visit to Japan.
A member of Egypt's richest family, Sawiris is chairman of Orascom Development Holding, which operates tourist resorts and real estate projects in Egypt and Europe. (Wikimedia Commons)
February 23, 2017 - 11:00 GMT
Egyptian billionaire Samih Sawiris says that the country's currency flotation has increased the appetite for investments in Egypt, but economic recovery will take time.
A total of 133 private and international schools across the kingdom will soon shift to new buildings under construction following the new rules.  (YouTube)
February 23, 2017 - 10:00 GMT
The majority of Jeddah's private schools are affected by a new requirement by Saudi's Ministry of Education to move to buildings more suitable for education within two academic years.
The government aims to hold a practical discussion to define the taxes and fees that should be applied, with the least impact on the economic growth and on the low-income class. (AFP/File)
February 23, 2017 - 09:00 GMT
Lebanese Prime Minister Saad Hariri insists that discussions on new taxes and fees are ongoing to secure the balance between interests of citizens and different economic sectors.
Among several economic measures, the government has recently decided to raise the renewal fees of passports for Gazan residents in Jordan from JD25 to JD200. (File photo)
February 23, 2017 - 08:00 GMT
Jordan's decision to extend the validity of Gazans’ temporary passports from two to five years follows the announcement of a steep price hike from JD25 to JD200 for their renewal or replacement.
The venue, located just minutes from Hamad International Airport and in the centre of the urban development of Qatar’s capital Doha, is scheduled for completion by 2020. (AFP/File)
February 23, 2017 - 07:15 GMT
A joint venture between Qatar's Al Jaber Engineer (JEC) and Turkey's Tekfen Construction has been awarded the main construction contract for the World Cup stadium in Thumama, Doha.
Brent crude oil prices remain at one of the lowest levels in real terms in decades. (File photo)
February 23, 2017 - 06:42 GMT
Bank of America Merrill Lynch has revised average oil prices down to $50-$70 from $55-75 until 2022.
Yemen’s President Abed Rabbo Mansour Hadi called on his government to focus on power, water, roads, health and education in retaken areas. (AFP/File)
February 23, 2017 - 05:33 GMT
Saudi Arabia has allocated $10 billion for the reconstruction of liberated provinces, including $2 billion as a deposit in the central bank to shore up the Yemeni riyal.
PepsiCo's CEO also confirmed that a new beverages plant is set to officially open in Dubai this month.  (Shutterstock/Ioan Panaite)
February 22, 2017 - 13:00 GMT
The PepsiCo beverages plant, set to open later this year in Jeddah, will manufacture the company’s wide portfolio of carbonates including Pepsi, Mountain Dew, Mirinda and Gatorade.
Viu already operates in Indonesia, Malaysia, India, Hong Kong and Singapore, and is now available for users in the UAE, Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, Egypt and Jordan. (
February 22, 2017 - 12:00 GMT
Users across the region now have access to tens of thousands of hours of local, regional and international premium entertainment via Vuclip's direct to consumer video-on-demand service.