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French Navy observing Russian shadow fleet tanker
August 4th, 2026 - 12:20 GMT
P. Choiaqo

P. Choiaqo

Russia preparing shadow fleet ahead of complete EU oil import ban

ALBAWABA - Russia is expanding its shadow fleet network in anticipation of the total and complete European ban on Russian oil and gas exports to the continent coming into effect on 1 January, 2027. The flagships of the fleet in question are Liquified Natural Gas (LNG) tankers and, over the past six months, at least eight of these tankers were sold and redirected to serve Russian oil exports bringing the ...
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Consumer spending is a major component in the UAE's GDP with a 45 percent share, compared to 39 percent on average for the GCC region. (File photo)
August 14th, 2017 - 01:11 GMT

Rents and Food Lead Consumer Spending in UAE: Report

The recovery in oil prices this year had been a key factor behind the reduced budget deficit. (File photo)
August 14th, 2017 - 09:50 GMT

Saudi Budget Deficit Down 51 Percent Following Oil Recovery, Spending Cuts

The list of the worst 10 airports around the world has Jeddah at the top, followed by South Sudan and Nigeria closing the top three. (AFP)
August 13th, 2017 - 12:22 GMT

Jeddah's King Abdulaziz Airport Voted 'Worst in the World' by Passengers

Muscat also emerged as the most affordable city to live in the Middle East, along with Khobar and Jeddah in Saudi Arabia. (File photo)
August 13th, 2017 - 12:00 GMT

Oman Third Most Affordable Place to Buy a House in the World: Report

The parks are expected to generate an estimated SAR130 billion ($34.6 billion) and draw 5.6 million visitors annually. (File photo)
August 13th, 2017 - 11:47 GMT

Saudi Arabia Has Plans for 24 Theme Parks to Boost Tourism, Jobs

Profitability at the five largest Saudi banks could be pressured going into 2018, according to Moody's. (File photo)
August 13th, 2017 - 11:14 GMT

Saudi Banks to Face Profitability Pressures in 2018: Moody's

The agreements focused on pharmaceuticals, foodstuff, construction, building materials, shipping, logistics, plastic, aluminium, glass, technology, furniture, and air-conditioning sectors. (Shutterstock)
August 13th, 2017 - 10:59 GMT

Qatar, Turkey Strengthen Economic Ties With 15 New Agreements

The developer has announced the completion of Azizi Royal Bay in just 22 months. (Courtesy of Azizi Developments)
August 13th, 2017 - 09:50 GMT

Azizi Developments Announces Dh350 Million Project on Palm Jumeirah

The new Value-Added Tax (VAT) will be implemented in Saudi Arabia from January 1 next year simultaneously with other GCC countries. (File photo)
August 13th, 2017 - 09:31 GMT

Saudi Arabia Expects VAT to Increase Cost of Living by 5 Percent

With this announcement, Qatar now has the highest number of nationalities eligible to enter visa-free, making it the most 'open' country in the region. (File photo)
August 10th, 2017 - 02:58 GMT

Qatar Offers Visa-Free Entry to 80 Countries in Bid to Boost Tourism

The operator of four theme parks said it lost Dh286.2 million ($77.9 million) in the second quarter, compared with Dh41.3 million a year earlier. (File photo)
August 10th, 2017 - 11:17 GMT

After Less Than a Year, Dubai Theme Park Company Reshuffles Business

The deal will give Omantel exposure to nine growth markets with a total population of 175 million outside an already-saturated domestic market. (File photo)
August 10th, 2017 - 10:47 GMT

Omantel Buys 10 Percent Stake in Zain Group for $846 Million

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