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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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Gas-rich Algeria and Jordan will work together to develop economic ties. (File photo)
October 3rd, 2017 - 01:19 GMT

Jordan, Algeria Announce Joint Business Council

Egypt’s foreign reserves jumped to $36.534 billion in September from $36.143 in August. (AFP/ File)
October 3rd, 2017 - 12:57 GMT

Egypt’s Foreign Reserves Up $391 Million in September: Central Bank

King Salman bin Abdulaziz will kick off on Thursday his first official visit to Russia. (AFP/ File)
October 3rd, 2017 - 12:44 GMT

King Salman Visits Russia Thursday, $10 Billion Expected in Joint Projects

The funding round included Saudi-based TAQNIA Fund, UAE Exchange and UK comparison site GoCompare. (Courtesy of Souqalmal)
October 3rd, 2017 - 12:19 GMT

UAE’s Price Comparison Site Souqalmal Raises $10 Million in Funding

Abu Dhabi has been investing billions of dollars in infrastructure, tourism sectors to boost its non-oil growth in an era of low oil prices. (File photo)
October 3rd, 2017 - 11:46 GMT

Abu Dhabi Expects 3 Percent GDP Growth in 2018

The two companies will develop residential and commercial areas around the Grand Mosque in Mecca and the Prophet’s Mosque in Medina. (File photo)
October 3rd, 2017 - 11:23 GMT

Saudi Arabia Launches Two Companies to Boost Number of Pilgrims During Haj

Just like the rest of the UAE, passengers at Dubai’s airports will have to pay a 'sin' tax. (Shutterstock)
October 3rd, 2017 - 11:11 GMT

Sin Tax Will Apply to Travelers Through Dubai Airports Too: Official

According to a new report, Russia could emerge as a global energy superpower in the midst of world chaos. (AFP/ File)
October 2nd, 2017 - 02:22 GMT

Russia Could Be the World's Next Energy Superpower, Says Report

Starting January 1, 2018, foreign engineers with less than five years of experience will no longer be hired in Saudi Arabia. (AFP/ File)
October 2nd, 2017 - 12:14 GMT

Saudi Arabia: Ban on Junior Expat Engineers to Start From January 1

Saudi Arabia aims to raise the participation of SMEs in the macro-economy from 20 percent to 35 percent by 2030. (AFP/ File)
October 2nd, 2017 - 12:03 GMT

Four in 10 Startups in Saudi Arabia Are Owned by Women

Oman was Qatar’s top non-oil exports destination in August, with 45 percent of the total exports. (File photo)
October 2nd, 2017 - 11:49 GMT

Qatar’s Non-Oil Exports up 35 Percent in August, Despite Blockade

The total value of shares traded on the Saudi Stock Exchange (Tadawul) dropped by 16.64 percent month-on-month, according to a new report. (AFP/ File)
October 2nd, 2017 - 11:37 GMT

Saudi Arabia's Tadawul Drops by 16 Percent in September: Report

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