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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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National Bank of Kuwait (NBK) is to hire hundreds of staff and open new branches in Saudi Arabia and Egypt. (Courtesy of NBK)
December 19th, 2017 - 03:03 GMT

National Bank of Kuwait Eyes Saudi, Egypt Expansion

The tax will have minimal economic impact on people and investments, says UAE Minister. (Shutterstock)
December 19th, 2017 - 02:44 GMT

No Increase in Salaries to Cope With VAT: UAE

Saudi Arabia is ahead of the curve in paving the way for a smooth transition to a low-carbon economy, and nuclear power is at the top of its agenda. (Shutterstock)
December 18th, 2017 - 01:09 GMT

Why Saudi Arabia Wants to Bank on Nuclear Power

The number of factories and manufacturing facilities in Qatar have doubled since the beginning of the Saudi-led blockade six months ago. (Shutterstock)
December 18th, 2017 - 12:51 GMT

Number of Factories in Qatar Doubled During Blockade: Minister

Senior bankers in Saudi Arabia have clarified that money sent home by expat workers will not be taxed under the new VAT. (Shutterstock)
December 18th, 2017 - 12:33 GMT

No VAT on Expat Remittances in 2018: Saudi Arabia

Lebanon's real GDP growth is expected to pick up in 2018 supported by the reopening of trade routes with Syria and Iraq by mid-2018. (File photo)
December 14th, 2017 - 02:07 GMT

Reopening Syria, Iraq Trade Routes Will Add to Lebanon's 2018 GDP Growth

Saudi Arabia has announced that electronic purchases are subject to the value added tax (VAT), effective January 1. (File photo)
December 14th, 2017 - 01:48 GMT

E-Commerce Transactions Subject to VAT: Saudi Arabia

The UAE, Saudi Arabia and Bahrain have raised their interest rates today. Kuwait's interest rate remains unchanged. (File photo)
December 14th, 2017 - 01:03 GMT

UAE, Saudi Arabia, Bahrain Follow US With Interest Rate Hike

King Salman on Thursday issued a decree allocating SR72 billion ($19.2 billion) of stimulus funds to support the private sector in 2018. (AFP/ File)
December 14th, 2017 - 11:12 GMT

Saudi Arabia Unveils $19 Billion 'Stimulus' for Private Sector

When it comes to Egypt's economy in the coming years, three economic issues in particular are prompting investors to hedge their bets. (AFP)
December 13th, 2017 - 09:37 GMT

Opinion: Three Challenges Ahead for Egypt’s Economy

While the price of Bitcoin can suddenly rise to an extreme level, "it can also collapse later," he warned. (AFP/ Philippe Lopez)
December 13th, 2017 - 09:04 GMT

Beware of Bitcoin, Warns Turkey's Deputy PM

Saudi Arabia's most well-known businessman Prince Alwaleed bin Talal is still under arrest. (Getty)
December 13th, 2017 - 08:47 GMT

Saudi Arabia: Special Unit to Handle Cash Settlements From Arrested Princes

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