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OPEC
April 28th, 2026 - 12:29 GMT
Sally Shakkour

Sally Shakkour

UAE withdraws from OPEC and OPEC+

ALBAWABA - The United Arab Emirates announced its decision to withdraw from OPEC and OPEC+, Emirates News Agency (WAM) reported Tuesday. WAM added that the Guld country's decision to exit OPEC and OPEC+ aligns with the state's long-term strategic and economic vision. The decision will be effective starting from May 1, 2026. According to experts, the withdrawal decision is expected to greatly affect the oil-exporting groups amid the ongoing Middle ...
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Contraction in the nominal GDP in Oman in 2015 was mainly due to the sharp fall in crude oil prices in the global markets and fiscal policies pursued by the government. (Times of Oman)
July 5th, 2016 - 08:00 GMT

Oman: Low oil prices end five years of economic growth

Analysts at Morgan Stanley said there were also signs prices could fall again soon, pointing at stalling gasoline demand and more oil from Canada and Nigeria after production problems. (AFP/Mohammed Al Shaikh)
July 5th, 2016 - 07:00 GMT

Saudi oil minister optimistic market is 'heading towards balance'

The May 2017 forum will be the ninth hosted by Jordan since the first conference in 2003. (AFP/File)
July 5th, 2016 - 06:00 GMT

Jordan to host MENA's World Economic Forum in 2017

Chototel will harness construction technology called light gauge steel framing, which minimises its carbon footprint by using a method that eliminates the use of bricks and wood as raw materials. (Twitter)
July 5th, 2016 - 05:11 GMT

Super-economy hotel will offer $2 a night rooms in UAE

EgyptAir revealed they would incur a $2 million loss in case the daylight saving time was cancelled. (Shutterstock)
July 5th, 2016 - 04:50 GMT

Egypt to scrap daylight savings time from July 7

CBS Reality and Jim Jam will also join beIN from August 1. (beIN Media Group)
July 4th, 2016 - 12:48 GMT

BeIN to launch 12 new channels, targets up to 80 channels by end-2016

Bahrain and Oman have been exceptions in the GCC as more active issuers of sukuk and conventional bonds. (Shutterstock)
July 4th, 2016 - 11:31 GMT

GCC sukuk issuance likely to remain muted in 2016: S&P

Saudi Arabia is strongly pushing to deal with the high unemployment rate among citizens. (File photo)
July 4th, 2016 - 10:00 GMT

Saudization: Foreign firms must employ Saudis in leadership positions

Retailer Rami Levy, who has sold milk cheaper than water and a kilo of chicken for 10 cents, was confident prices in his mall would be lower than those in Ramallah. (Olive Oil Times)
July 4th, 2016 - 09:00 GMT

First Israeli-Palestinian mall faces boycott

Egypt has suffered from a shortage of dollars in the banking system to pay for crucial imports since a 2011 uprising drove away tourists and foreign investors, crucial sources of hard currency. (Shutterstock/Ververidis Vasilis)
July 4th, 2016 - 08:00 GMT

Egypt's Central Bank claims no change to debit card use abroad

Yemen's Central Bank fell under Houthi control in March. (Nabanews.net)
July 4th, 2016 - 07:28 GMT

IMF, oil deals hampered by Houthi control of Central Bank: Yemeni PM

BHS entered administration in April after accruing debts of more than £1bn ($1.4bn) and failing to find a buyer. (AFP/Carl De Souza)
July 4th, 2016 - 06:00 GMT

Qatar's Al Mana acquires ailing BHS retail franchise

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