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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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S&P stressed that Lebanese banks have helped the local economy to stay resilient despite the difficult economic and political challenges. (File photo)
October 5th, 2016 - 07:00 GMT

S&P upgrades outlook for three Lebanese banks

The new capital is one of a series of mega-projects announced by President Sisi designed to attract foreign investment and create jobs. (EPA/Khaled Elfiqi)
October 5th, 2016 - 06:17 GMT

Egypt's China-backed, $20B capital 'will be as big as Singapore'

The reported cuts at ADIB follow its acquisition of Barclay’s UAE retail business for $177m in 2014. (File photo)
October 5th, 2016 - 05:38 GMT

Abu Dhabi Islamic Bank sheds more than 200 jobs

Jordan's King Abdullah II receiving the credentials of the newly-appointed Ambassador of the Federal Republic of Germany to Jordan, Ms. Birgitta Maria Siefker-Eberle. (German Jordanian University)
October 5th, 2016 - 04:24 GMT

Jordan receives 'historic' $305.4M aid package from Germany

Economist Fadal Bou Al-Ainain said telecom firms would lose more than SR50 million if the boycott were to continue for more than one month. (Shutterstock)
October 4th, 2016 - 10:57 GMT

Saudi telecoms operators ignore calls for boycott on social media

Australia Post bought a 4.5 per cent stake in Aramex this year. (File photo)
October 4th, 2016 - 09:00 GMT

Aramex enters e-commerce partnership with Australia Post

The rise in exports was mostly attributed to a rise in shipments of condensate – a type of ultra light oil often produced with natural gas.  (File photo)
October 4th, 2016 - 08:00 GMT

Iran oil exports hit benchmark pre-sanctions output levels

The entry visa fee is waived if the visitor is entering Saudi Arabia for the first time to perform pilgrimage or Umrah. (File photo)
October 4th, 2016 - 07:00 GMT

Higher visa fees for Saudi Arabia come into effect

The Abu Dhabi airline currently serves 23 destinations on the African continent through codeshare deals with Kenya Airways, Royal Air Maroc and equity partner Air Seychelles. (Traveller24news.com)
October 4th, 2016 - 06:03 GMT

Etihad Airways inks codeshare deal with South Africa's budget carrier Kulula

Halal food, the largest Islamic economy pillar by revenue, has shown clear signs of maturity with increased private equity investments in the sector. (Shutterstock/Chameleons Eye)
October 4th, 2016 - 05:56 GMT

Food and beverage driving global halal economy

Thousands of Indian workers have lost their jobs due to a slowdown in Saudi economy and have returned to India. (File photo)
October 4th, 2016 - 04:18 GMT

Billion-dollar bailout: Saudi government helps Binladin Group honor unpaid salaries

The shift to the Gregorian year comes in response to a decision made by the Saudi government earlier this week as part of spending-cut measures. (Shutterstock)
October 3rd, 2016 - 12:30 GMT

Saudi Arabia to pay government employees according to Western calendar

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