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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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King Salman bin Abdulaziz restructured the ministries responsible for handling water and energy policies in May 2016. (Wikimedia Commons)
November 22nd, 2016 - 08:30 GMT

Saudi Arabia moves to modernize water and energy sectors

The IIF added that Lebanon would post the second smallest increase in net capital inflows among emerging markets in 2016. (File photo)
November 22nd, 2016 - 07:30 GMT

Positive net capital inflows to Lebanon expected for 2106

Ministers and officials have said OPEC was moving closer towards dealing with sticking points and most members were prepared to offer Iran flexibility on production volumes. (File photo)
November 22nd, 2016 - 06:43 GMT

Dollar edges lower on OPEC meeting progress

COMCEC convenes annually at the ministerial level in Istanbul under the chairmanship of Turkey’s president "to address the common problems of the Muslim world.” (Twitter)
November 22nd, 2016 - 05:30 GMT

Islamic finance in the spotlight at OIC's COMCEC in Istanbul

Under the new guidelines, citizens of the US, Canada, UK and Ireland holding a five-year multiple re-entry visa to Bahrain will be able to stay longer in the country. (Shutterstock)
November 21st, 2016 - 01:30 GMT

Bahrain unveils new visas to boost tourism

In the GCC, for example, 51 percent of young Arabs said they were not concerned about the environment and climate change. (Shutterstock)
November 21st, 2016 - 12:30 GMT

Arab youth most worried about Daesh, least concerned about the environment

Shares of all three banks were suspended 15 minutes after the market opened, but resumed later after the statements from each bank were issued. (File photo)
November 21st, 2016 - 11:30 GMT

Abu Dhabi stocks drop as ADCB, UNB, ADIB deny merger rumors

Al Nouran's plant should reduce Egypt's reliance of imported sugar by up to 25 per cent from the first production line. (File photo)
November 21st, 2016 - 09:47 GMT

Sweet news for Egypt: Al Nouran to build MENA's largest sugar factory

A survey earlier this year showed that many unemployed Saudis are still put off by the lower salaries and longer working hours in the private sector. (File photo)
November 21st, 2016 - 09:30 GMT

Over 1000 mobile phone shops close, falling foul of Saudization laws

According to the forum, the confidence in the real economy sub-index rose by 2.62 points in August 2016, the highest since the beginning of this year, reaching 105.47 points. (Jordan Times)
November 21st, 2016 - 08:30 GMT

Jordan: Investor confidence rises for the first time in eight months

Cluttons joins other real estate analysts forecasting either a flat market or further slowdown in 2017.  (Shutterstock/Laborant)
November 21st, 2016 - 07:30 GMT

Dubai real estate oversupply presents opportunities for buyers in 2017

Crypto-ransomware attacks encrypts all of a victim’s digital content and holds it hostage until a ransom is paid. (Shutterstock)
November 21st, 2016 - 06:21 GMT

Saudi Arabia top target for ransomware attacks in MENA

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