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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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Saudi Arabia plans to shut down recruitment offices of housemaids. (AFP/ File)
September 24th, 2017 - 09:58 GMT

Saudi Arabia to Scrap Housemaid Recruitment Agencies: Ministry of Labor

The upcoming referendum on Kurdish independence has the potential to roil both geopolitical alliances and oil markets. (AFP/ File)
September 21st, 2017 - 12:13 GMT

Opinion: Will an Independent Kurdistan Cause a Rift in Oil Markets?

Saudi Arabia announced in April that it will implement total Saudization in shopping malls. (AFP/ File)
September 21st, 2017 - 11:53 GMT

Saudization Success: Jeddah’s Malls Achieve 40 Percent Saudization

More hotels will be opening in the UAE in 2018 than in any other country in the Middle East. (Ramada Hotel Ajman/ File photo)
September 21st, 2017 - 11:32 GMT

83 New Hotels to Open in UAE in 2018: Report

The new regulations will be applicable from June next year on all Islamic banks in Bahrain. (Shutterstock)
September 21st, 2017 - 10:42 GMT

Bahrain Issues New Regulations for Islamic Banks

Alshaya will also become a seller on Noon’s online marketplace. (Twitter)
September 21st, 2017 - 09:50 GMT

Alshaya Buys Stake in Alabbar's Noon

The new company will focus on creating over 20,000 jobs in the sector. (AFP)
September 21st, 2017 - 09:26 GMT

Saudi Arabia Launches $2.6 Billion Entertainment Company

King Salman has ordered the payment of $15 million aid for the Rohingya Muslims in Myanmar. (AFP/ File)
September 20th, 2017 - 09:38 GMT

Saudi Arabia Pledges $15 Million to Aid Rohingya Muslims in Myanmar

The US stance toward the Middle East is negatively impacting business and regional growth, according to experts. (AFP/ File)
September 19th, 2017 - 05:00 GMT

Opinion: US Stance Towards Middle East Negatively Affecting Economy and Growth

Read this interview with the Indian ambassador to Egypt, Sanjay Bhattacharyya. (Courtesy of the Embassy of India)
September 19th, 2017 - 01:51 GMT

Six Indian Companies Will Be Investing in Egypt Soon: Interview With Indian Ambassador

The project will cost $57 million and is expected to improve the health sector in Jordan. (Courtesy of JU)
September 19th, 2017 - 01:37 GMT

Saudi Development Fund to Build $57 Million Hospital in Jordan: Minister

The profitability of Gulf Islamic banks will deteriorate this year and in 2018 with several factors coming into play. (File photo)
September 19th, 2017 - 01:28 GMT

Profitability of Gulf Islamic Banks to Fall in 2017: Report

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