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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 country said it would allow complete foreign ownership of all types of education centers, including primary schools. (Amer Salem/ AFP)
August 27th, 2017 - 10:12 GMT

Saudi Arabia to Allow Full Foreign Ownership for Health, Education Sectors

DP World's first-half revenues were up 9.6 percent to $2.29 billion, from $2.09 billion in June 2016. (File photo)
August 27th, 2017 - 10:05 GMT

DP World's Cash Flow Steady Despite Flat First-Half Results: CEO

King Salman. (AFP/ File photo)
August 27th, 2017 - 09:36 GMT

Saudi Arabia, China Announce $20 Billion Joint Investment Fund

The canal is the fastest shipping route between Europe and Asia and one of Egypt’s main sources of foreign currency. (AFP/ File)
August 24th, 2017 - 02:04 GMT

Egypt's Suez Canal Revenues Rise to $447.1 Million in July

Qatar's non-oil exports in July registered a jump of 67 percent from June. (File photo)
August 24th, 2017 - 01:20 GMT

Qatar's Non-Oil Exports Return to Pre-Siege Levels in July: Report

Samsung's president of mobile communications D.J. Koh unveiled the new Galaxy Note 8 at a massive event in New York, on August 23, 2017. (Don Emmert/ AFP)
August 24th, 2017 - 12:08 GMT

Samsung Unveils Galaxy Note 8; Pre-Orders to Start on August 24

An expatriate in the UAE spends an average of Dh6,000 (~$1,630) per year on money transfers, according to a new report. (File photo)
August 24th, 2017 - 11:52 GMT

UAE Expats Spend $1,630 Per Year on Money Transfers: Report

Flyadeal is a subsidiary of the Saudi Arabian Airlines group (Saudia) and will begin flight operations in September 2017. (File photo)
August 24th, 2017 - 10:43 GMT

Dubai Aerospace Delivers First A320 to Saudi Low-Cost Airline Flyadeal

The Saudi Ministry of Labor has announced that it will prevent the recruitment of foreign engineers with less than five years of experience. (File photo)
August 23rd, 2017 - 03:25 GMT

Saudi Arabia Announces Stricter Requirements for Hiring Foreign Engineers

The Zarshuran gold mine is one of Iran's most important mineral projects and is referred to as the "golden giant of Iran." (File photo)
August 23rd, 2017 - 03:04 GMT

Iran’s Biggest Gold Mine Produces 3.5 Times Quarterly Estimates

The new service will be initially operated with one vessel with a capacity of over 5,000 tons per voyage and will cater to temperature-controlled cargo and break-bulk. (File photo)
August 23rd, 2017 - 02:19 GMT

Qatar, Turkey Launch Direct Refrigerated Container Route

Saudi Arabia's reserves continued to decline over the January-May 2017 period and stand now at $499 billion.(AFP/ File)
August 23rd, 2017 - 02:06 GMT

Saudi Arabia's Current Account Back in Surplus as Oil Rebounds: Report

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