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Iraqi oil field worker in Basra
June 25th, 2026 - 12:14 GMT
P. Choiaqo

P. Choiaqo

Iraq rethinking its OPEC membership due to oil production limits

ALBAWABA - In a Reuters exclusive report: Iraq, one of the founding members of OPEC, is now considering leaving the organization after Strait of Hormuz disruptions and limited oil production quotes hit the county hard. “Saudi Arabia and ​other OPEC allies should treat this matter with the utmost seriousness. Failing that, Iraq will be compelled to consider all available options,” a senior Iraqi oil ⁠ministry official told Reuters. Iraq’s economy ...
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Jeff Bezos added $1.5 billion to his fortune after Amazon gained $9 billion in market value following the Souq.com deal. (AFP/David Ryder)
March 30th, 2017 - 08:52 GMT

Souq.com deal makes Amazon's CEO Jeff Bezos second-richest man in the world

The airline is going through a crisis, which has a big impact on revenue and profits. (Shutterstock)
March 30th, 2017 - 01:00 GMT

Bad news for Egypt: EgyptAir reports $830M losses as result of currency flotation

The award will be granted annually to industrial innovations that serve the humanity and contribute to re-building the world economic prosperity. (Shutterstock)
March 30th, 2017 - 12:12 GMT

UAE wants to celebrate industrial innovations with a new award

The report shows that Saudi Telecom Company (STC) is the most valuable brand in the country worth $6.6 billion. (Shutterstock)
March 30th, 2017 - 11:32 GMT

STC, Al Rajhi Bank most valuable brands in Saudi Arabia: Report

The scope of work includes construction of 37-km-long roads, which consist of three lanes in each direction, with two safety lanes and nine multi-storey intersections. (Pexels)
March 30th, 2017 - 11:12 GMT

Egyptian firm wins $561M Kuwait road project

The estimated cost of the project, to be built on 1.2 million square meters, amounts to SR1.3 billion ($346.6 million). (Pixabay)
March 30th, 2017 - 10:31 GMT

Jordan, Saudi Arabia to co-build medical city in Riyadh

The offer valid for passengers with first and business class tickets on all Etihad flights to the US. (File photo)
March 30th, 2017 - 09:23 GMT

Etihad fights US electronics ban with free wi-fi, iPads

Qatar is the second largest exporter of natural gas in the world. (Pixabay)
March 30th, 2017 - 08:36 GMT

Qatar's energy sector is moving towards renewable energy: Minister

The market for second-hand cars is feeling the impact of the new fess on expatriates announced by the Saudi government. (Pixabay)
March 30th, 2017 - 06:43 GMT

Used car market in Saudi Arabia suffers as thousands of expats are forced to go home

Saudi Arabia is launching many initiatives to boost the growth of SMEs. (File photo)
March 29th, 2017 - 01:00 GMT

Saudi Arabia’s 'parallel market' a push for SMEs: Report

Souq.com's CEO Ronald Mouchawar declined to give price details of the Amazon deal, which is estimated to be worth $580m to $750m. (File photo)
March 29th, 2017 - 12:01 GMT

Souq.com's CEO to maintain position in company following Amazon deal: Sources

The report covers the largest banks in Bahrain, Kuwait, Qatar, Oman, Saudi Arabia, and the UAE. (File photo)
March 29th, 2017 - 11:13 GMT

GCC banks see decline in profits for first time since 2008: Report

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