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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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File photo from a Mahalla strike in 2011.
February 8th, 2017 - 05:18 GMT

Nearly 3000 workers from Egypt's Mahalla Textile join latest strike action

Snapchat, which was first launched in 2011 as Picaboo, currently has over 150 million daily active users worldwide, who create over 2.5 million ‘snaps’ per day. (Shutterstock/Ink Drop)
February 7th, 2017 - 02:13 GMT

Snap Inc. opens first Middle East office in Dubai Internet City

Foreign investments would exceed 75 percent in some of the airports. (File photo)
February 7th, 2017 - 10:12 GMT

Saudi Arabia to privatize 27 airports by mid-2018

AVFM projects an internal rate of return (IRR) in excess of 18 – 21 percent. (Shutterstock)
February 7th, 2017 - 09:49 GMT

Qatar Holding invests $250M in India fund for affordable housing

The construction timeline for the 2,117km-long $200 billion GCC Railway Network that will link all six countries had been pushed back to 2021 from 2018 in the aftermath of the oil price plunge. (Shutterstock)
February 7th, 2017 - 08:07 GMT

MENA rail projects chug along, but is pan-GCC network a distant reality?

In the second phase, the UAE will seek to attract talents in research, technical, cultural and scientific fields. (Shutterstock)
February 7th, 2017 - 07:00 GMT

Foreigners welcome here: New UAE visa scheme courts highly qualified professionals

Kuwait Opera House image courtesy of Sahar Ghazale/Twitter.
February 7th, 2017 - 06:00 GMT

No casualties reported in Kuwait’s opera house fire

Recently, members of Oman’s Shura Council called for fuel prices to be fixed annually instead of monthly and to help low income families afford fuel. (Shutterstock)
February 7th, 2017 - 05:28 GMT

Bring subsidies back? Call for 'fuel stamps' to help the poor in Oman

The GCC economies are forecast to recover in 2017, except Oman and Bahrain. (File photo)
February 6th, 2017 - 01:00 GMT

Most GCC economies expected to recover for 2017 following 2016 slowdown

There are 19 professions closed to guest labour, while regarding jobs open for these workers, there are set quotas for foreign labour, including 40 per cent in gas stations. (AFP/File)
February 6th, 2017 - 12:00 GMT

One million foreign workers in Jordan estimated to be illegal

Egypt has been struggling to boost its foreign currency reserves in the political and economic turmoil following the January 2011 uprising that toppled former ruler Hosni Mubarak. (AFP/Patrick Baz)
February 6th, 2017 - 11:00 GMT

Egypt’s foreign reserve expected to make a comeback by the end of January at $26 billion

The exchange rate had hovered between 3.71 and 3.69 over the past two days and started trading at 3.6950 as of 9 a.m. (0600GMT) Monday morning. (File photo)
February 6th, 2017 - 10:00 GMT

On a roll: Turkish lira rate on four-week high against US dollar

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