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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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SeaWorld Abu Dhabi will be the company’s first new park without orcas, and will integrate up-close animal experiences, mega attractions and an aquarium. (SeaWorld)
December 14th, 2016 - 07:00 GMT

SeaWorld Abu Dhabi to open on Yas Island by 2022

Egypt has been negotiating billions of dollars in aid from various lenders to help revive its economy, battered by political and economic upheaval since a 2011 uprising. (Shutterstock)
December 14th, 2016 - 06:25 GMT

AfDB approves second tranche of $500M loan to Egypt

Dubai has been on cloud companies’ radar as most of the top tech companies have a base in the emirate. (File photo)
December 14th, 2016 - 05:19 GMT

Amazon Web Services to take on Alibaba Cloud with new Dubai and Bahrain offices

Flights on the service are complimentary through JetSmarter’s membership programme and members can also create their own JetShuttle flight for half the price of a traditional charter. (JetSmarter)
December 13th, 2016 - 12:00 GMT

JetSmarter app valued at $1.5B after latest round of royal, celebrity financing

The expected VAT laws are not ‘business as usual’ and may require several months for companies to successfully integrate a VAT functionality into their systems. (Shutterstock)
December 13th, 2016 - 11:00 GMT

VAT in GCC to generate $25B a year: EY

Dubai announced a visa-on-arrival scheme for Chinese visitors in September to boost tourism and trade. (File photo)
December 13th, 2016 - 10:00 GMT

Dubai's visa strategy for Chinese visitors pays off

The new banknotes will be more secure to reduce forgeries. (File photo)
December 13th, 2016 - 09:00 GMT

Saudi Arabia's new currency is a tribute to King Salman

A framework deal signed last year called for up to $5 billion in total investments in offshore Egypt. (File photo)
December 13th, 2016 - 08:00 GMT

Eni sells 30 percent stake in Zohr gas field to Russia's Rosneft for $1.6B

Dubai is aiming for an environmentally-friendly energy mix, with 25 percent from solar energy, 7 percent each from nuclear power and clean coal, and 61 percent from gas by 2030. (WAM)
December 13th, 2016 - 07:02 GMT

ACWA-DEWA JV receives $2.47B financing for clean coal project

Expats will no longer need approval from their existing employer to change jobs if they complete the length of a fixed-term contract. (File photo)
December 13th, 2016 - 06:00 GMT

Qatar's new labor law abolishes controversial kafala system

A work plan for the first stage of development calls for about 1.2 billion cubic feet of natural gas per day through an investment of between $3.5 billion and $4 billion. (File photo)
December 13th, 2016 - 05:18 GMT

Israel's Leviathan gas deals estimated to reach $2B


The survey shows support for Small and Medium size Enterprises (SMEs) is important for economic diversification. (File photo)
December 12th, 2016 - 01:00 GMT

Tourism, trade, technology are key factors in MENA diversification: Survey

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