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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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It is expected that, by lifting the ban on women driving in the Kingdom, the number of foreign chauffeurs will go down by about 30%. (KhT)
July 16th, 2018 - 10:36 GMT

Opinion: Lifting the Ban on Women Driving in Saudi Arabia Results in Economic Benefits

A move by the UAE to regulate the growing online world of paid social media is likely to be rolled out across the GCC in a bid to bring in tighter controls on the thriving industry, experts say. (Shutterstock)
July 16th, 2018 - 10:29 GMT

Will Other Gulf Nations Follow UAE's Lead and Rein in the Social Media Influencers?

Gulf carriers such as Etihad, Emirates and Qatar Airways are unlikely to materialize, as the region’s carriers continue to take stock after a period of bruising losses. (AFP)
July 16th, 2018 - 10:10 GMT

After a Tough 2017, Emirates, Etihad, and Qatar Airways Play It Safe at Farnborough Airshow


CMA is currently drafting plans to roll out mandatory health insurance, after the Council of Ministers reached a decision to make it a necessity for all residents and citizens in the country. (Shutterstock)
July 16th, 2018 - 09:53 GMT

Health Insurance to Become Mandatory in Oman

Saudi Arabia sees drop in expatriate workforce as unemployment rises. (Shutterstock)
July 16th, 2018 - 09:43 GMT

After the Expats Exodus, Saudi Arabia to Reduce Saudisation Targets in Some Retail Sectors from 100 Percent to 70 Percent

Saudi Arabia will introduce its first comprehensive bankruptcy law on August 18. (Shutterstock)
July 15th, 2018 - 11:46 GMT

Bankruptcy Reforms to Overhaul the Saudi Economy

SAGIA offers supportive and advisory services to organizations to deliver solutions to their business needs. (Shutterstock)
July 15th, 2018 - 11:35 GMT

Saudi Fintech Future Highlighted in London Forum

The casino has been in a fight with the state over closing down these centers, and the source said the two sides agreed in 2008 to shut down any gambling center other than the casino. (Shutterstock)
July 15th, 2018 - 11:27 GMT

Illegal Gambling Results in Loss of Millions in Lebanon

Ratio may be higher if refugee factor taken into account. (Shutterstock)
July 15th, 2018 - 11:11 GMT

IMF: Shadow Economy Accounts for 17 Percent of Jordan's GDP

The kingdom has attracted investment from a number of big auto and aerospace investors in recent years including Renault, Peugeot, Bombardier as well as Boeing and Safran. (Shutterstock)
July 15th, 2018 - 10:59 GMT

Morocco to Introduce Corporate Tax Break

The new law must encourage local and foreign investment through carefully-studied rates of tax on all sectors. (Shutterstock)
July 15th, 2018 - 10:34 GMT

Senate President in Jordan Discusses 'the Tax Law That We Want'

35,000 Saudi citizens visited Azerbaijan in 2017, which is one of the highest from GCC countries. (Shutterstock)
July 15th, 2018 - 10:29 GMT

Development of Trade, Investment and Tourism Cooperation Between Saudi Arabia and Azerbaijan

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