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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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Through this deal, Rosneft has become a partner in the development of the largest gas field in the Mediterranean Sea. (AFP/ File)
October 11th, 2017 - 09:22 GMT

Russian Oil Company Rosneft Buys 30 Percent Stake in Egypt's Zohr Gas Field

Saudi Aramco this week launched a subsidiary in India. But what is Saudi Aramco exactly looking for in India? (AFP/ File)
October 11th, 2017 - 08:54 GMT

Why Did Saudi Aramco Launch a Subsidiary in India?

On Sunday, the U.S. Embassy in Turkey suspended its non-immigrant visa service. Turkey retaliated by suspending non-immigrant visa services at all Turkish diplomatic facilities in the U.S. (AFP/ File)
October 10th, 2017 - 11:04 GMT

US-Turkey Conflict Risks Damaging Trade, Economic Relations: Businessmen

Saudi Arabia’s international brand value has soared by 19 percent, ranking the Kingdom second in the region after the UAE, according to a report released Monday. (File photo)
October 10th, 2017 - 10:39 GMT

UAE, Saudi Arabia Top Brands in Middle East Region: Report

Gold priced bounced back from one-month lows as renewed concerns over tensions with North Korea and an escalating diplomatic crisis between the U.S. and Turkey underpinned safe haven demand for the precious metal. (File photo)
October 10th, 2017 - 10:29 GMT

Gold Prices Rise on Softer Dollar, Geopolitical Tensions

The new fund is expected to create 2,600 jobs by the end of 2020; 58,000 jobs by 2027. Pictured here: Saudi Crown Prince Mohammed bin Salman. (AFP/ File)
October 10th, 2017 - 09:20 GMT

Saudi Arabia Launches $1 Billion Fund to Support SMEs

Iran will be subject to tariffs of 57.5 euros per tonne from Saturday, the EU said. (AFP/ File)
October 9th, 2017 - 01:19 GMT

EU to Impose New Trade Tariffs on Iranian Steel, Starting This Week

Nadec is proposing to buy all shares of Danone and in exchange offer new Nadec shares to Danone's current shareholders. (File photo)
October 9th, 2017 - 12:23 GMT

Saudi Arabia's Nadec, Danone Mull Possible Merger

The total assets of the 48 banks operating in the country reached Dh2.66 trillion ($723 billion) for 2016. (File photo)
October 9th, 2017 - 11:55 GMT

UAE Banks Lead GCC With $723 Billion in Assets

With $8 per night, you get access to Wifi, a gym, laundry, common area, balcony and rooftop pool. (Pixabay)
October 8th, 2017 - 11:43 GMT

Not Only for the Rich: Dubai Targets Backpackers With $8 a Night

Saudi Arabia has plans for a new digital currency for banks. (Pexels)
October 8th, 2017 - 10:59 GMT

Saudi Arabia Announces Digital Currency Exclusively for Banks

According to the decisions, rents paid by companies will be cut by 50 percent in some areas. (Pixabay)
October 8th, 2017 - 09:58 GMT

Qatar Boosts Private Sector's Contribution to Economy Amid Blockade

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