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Strategic Oil Reserves
March 14th, 2026 - 12:53 GMT
Osama Ali

Osama Ali

Japan announces major oil reserve release amid Iran war market shock

ALBAWBA - As part of an international effort to calm the world's energy markets after the conflict with Iran caused substantial price hikes, Japan announced intentions to release a significant amount of its strategic oil reserves. After initially expressing reluctance, European nations have decided to take part in a coordinated release of oil reserves, according to Japanese Industry Minister Ryosei Akazawa on Saturday. After Japan had earlier assisted in easing ...
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European insurers, reinsurers, brokers and shipping firms have been winding down Iranian business as the United States re-imposes sanctions on insurance and reinsurance from 4 November 2018. (Shutterstock)
July 17th, 2018 - 10:07 GMT

Lloyd’s of London Fears the Consequences of US Sanctions on Iran

About 50% of contracting companies in the Kingdom face difficulty in paying the salaries of their workers. (Shutterstock)
July 17th, 2018 - 09:17 GMT

Salaries Delayed in 50 Percent of Contracting Companies in Saudi Arabia

Mohamed Alabbar, founder of Noon. (File/Photo)
July 17th, 2018 - 09:07 GMT

Noon to Enter the Online Grocery Business

Analysts have predicted that the rupee will continue to weaken in the second-half of 2018. (Shutterstock)
July 17th, 2018 - 08:51 GMT

Pakistani Rupee Is Now the Worst Performing Currency in Asia

The Institute of International Finance (IIF) has raised the projected UAE real GDP growth from 2.1 per cent to 2.4 per cent for 2018 and maintained 2.7 per cent forecast for the next year. (Shutterstock)
July 17th, 2018 - 08:42 GMT

UAE Economy to Improve Due to Higher Crude Oil Prices

Abu Dhabi Islamic Bank remains one of the most liquid banks in the UAE. (File/Photo)
July 16th, 2018 - 01:11 GMT

ADIB Net Profits Increased by 3 Percent in H1 2018

Many residents travel to other GCC countries driving their vehicles, without paying attention to the luggage regulations. (Shutterstock)
July 16th, 2018 - 01:05 GMT

This Traffic Violation in UAE Will Result in Dhs2,000 Fine, 6 Black Points

The Cabinet approved a new legislative package, including a review of the current residency system to allow a two-year extension of the residency period for the dependents of their parents after finishing their university studies. (Shutterstock)
July 16th, 2018 - 12:58 GMT

Your Guide to the New Visa Rules in UAE

Travellers can also book with Emirates Holidays and enjoy a five-star holiday experience for an additional spend starting at Dh275 per person, exclusive of the airfare. (File/Photo)
July 16th, 2018 - 12:44 GMT

Emirates Announces Attractive Summer Fares to 30 Destinations

Despite a rise in yield on credit, driven by an increased cost of funds net interest margin (NIM) declined with five of the top 10 banks witnessed a decline. (Shutterstock)
July 16th, 2018 - 11:20 GMT

Report: Banking Sector in UAE to Record Higher Profitability and Liquidity in 2018

South Africa President Cyril Ramaphosa is on a mission to raise $100 billion in foreign direct investment in an attempt to revive the national economy. (Shutterstock)
July 16th, 2018 - 11:07 GMT

$20 Billion Worth of Investments in South Africa by Saudi Arabia and UAE

According to Russian news agency Sputnik, the Russian leader expressed hope that fans will take advantage of this opportunity and "come to Russia more than once with friends and members of their families." (Shutterstock)
July 16th, 2018 - 10:43 GMT

Russia to Grant Football Fans Visa-Free Entry till End of 2018

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