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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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Nearly half of residents in the UAE are in debt, while a significant number are failing to save money, according a report by Payfort. (File photo)
October 17th, 2017 - 11:55 GMT

Half of UAE Residents in Debt, Says Report

PetroChina and Sinopec, two major Chinese energy companies, said they are willing to take the whole 5 percent in Saudi Aramco, or even more. (AFP/ File)
October 17th, 2017 - 11:20 GMT

Saudi Aramco IPO Could Be Cancelled as China Eyes Private Sale

The entertainment industry in Medinah has just lost SR200 million ($53.3 million) after a group of investors decided not to invest in the sector. (File photo)
October 16th, 2017 - 05:00 GMT

Investors Withdraw From Medinah Entertainment Projects for Lack of Incentives

Dubai Marina and Jumeirah Village Circle are among the most searched areas by property buyers, according to a report by Dubizzle. (File photo)
October 16th, 2017 - 01:41 GMT

Report Reveals Most Preferred Neighborhoods, Top Nationalities Buying Property in Dubai

Saudi Arabia's commercial courts started operating last month in Riyadh, Jeddah and Dammam. (Shutterstock)
October 16th, 2017 - 12:26 GMT

Saudi Arabia Launches Commercial Courts to Protect Foreign Investors

The currency flotation has made property prices more affordable for Saudis and Egyptians living abroad. (File photo)
October 16th, 2017 - 11:49 GMT

With Apartments Starting at $80,000, Saudis Flock to Egypt to Buy Property

Qatar's Emir Sheikh Tamim bin Hamad Al Thani inspects an honor guard during a welcome ceremony in Kuala Lumpur, Malaysia, on October 16, 2017. (Vincent Thian/ AP)
October 16th, 2017 - 11:00 GMT

Qatari-Malaysian Economic Forum Kicks off as Emir Begins Asia Tour

Oil prices settled at a two-week high on Friday, as geopolitical uncertainty in the Middle East raised the threat of supply disruptions. (AFP/ File)
October 16th, 2017 - 09:28 GMT

Oil Prices Soar on Rising Iraqi-Kurdish Tensions

Royal Jordanian had approved a new turnaround plan last week. (Don Emmert/ AFP)
October 15th, 2017 - 01:36 GMT

Royal Jordanian Vows to Make Profit in 2017 With 'Turnaround Plan'

Kuwait cracks down on non-degree holders and vows to punish violating companies. (AFP/ File)
October 15th, 2017 - 01:04 GMT

University Degree Obligatory for Residency Renewal: Kuwaiti Minister

The 286 Jazan islands are one of the biggest island groups in the southern part of Red Sea. (AFP)
October 15th, 2017 - 12:50 GMT

Islands for Sale: 286 Islands Looking for Investors in Saudi Arabia

Government-owned master developer Dubai Holding is believed to be reassessing the project. (File photo)
October 15th, 2017 - 12:35 GMT

Dubai Holding Puts $20.2 Billion Jumeirah Project on Hold

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