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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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The funding round has boosted the company’s valuation to $5.1 billion. (Photo courtesy of Slack)
September 19th, 2017 - 11:24 GMT

Slack Gets $250 Million Funding From Saudi-Backed Softbank Group

The new rail project links the Red Sea port of Jeddah with Riyadh and the Arabian Gulf. (Shutterstock)
September 19th, 2017 - 11:10 GMT

Saudi Arabia to Issue Tenders for Massive Railway in Early 2018

The forum will focus on the fourth industrial revolution as its central topic. (Photo courtesy of WAM)
September 19th, 2017 - 10:49 GMT

Sharjah FDI Forum 2017 Kicks off Today

Mashreq Bank will cut 10 percent of its workforce as a direct result of artificial intelligence technology. (Courtesy of Mashreq Bank)
September 19th, 2017 - 08:01 GMT

Mashreq Bank to Cut 10 Percent of Staff on Successful AI Implementation

Two new shipping routes will link Qatar with vital ports in China, Turkey and Greece. (File photo)
September 18th, 2017 - 02:24 GMT

Qatar Launches Shipping Routes to China, East Mediterranean to Bypass Blockade

The global halal economy is estimated to reach $6.4 trillion by 2018, compared to $3.2 trillion in 2012. (AFP)
September 18th, 2017 - 01:35 GMT

Halal Expo Launches in Dubai as Global Halal Economy Hits $6.4 Trillion

The price hike would see gas prices increase by around 80 percent. (AFP/ File)
September 18th, 2017 - 10:59 GMT

Saudi Arabia Plans to Raise Fuel Prices by 80 Percent This Year: Sources

The credit line will be used to finance Iran's infrastructure projects. (File photo)
September 17th, 2017 - 03:12 GMT

China Signs Deal to Provide Iran With $10 Billion Credit Line

The new project will be built at a total cost of Dh14.2 billion ($3.8 billion). (Photo: First Solar)
September 17th, 2017 - 11:12 GMT

Dubai Breaks All Records With Launch of World's Largest Solar Power Project

Lebanon is working with Cyprus to increase its internet speeds by drastically improving the cabling running from France to Lebanon via Cyprus. (File photo)
September 14th, 2017 - 12:30 GMT

Is Lebanon Finally Getting a Reliable, High-Speed Internet Connection?

Saudi Arabia in June led a coalition of Middle East countries in severing ties with Qatar. Pictured here: Sheikh Tamim bin Hamad Al Thani, Emir of Qatar. (AFP)
September 14th, 2017 - 10:41 GMT

Ongoing Gulf Crisis a Risk for GCC's Credit Outlook: Moody’s

Audio, video calls will be available in Saudi Arabia starting next Wednesday. (File photo)
September 14th, 2017 - 10:26 GMT

Saudi Arabia: Ban on Voice, Video Calling Apps to Be Lifted Next Week

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