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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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The AC-208 is based off ATK's Cessna 208 Caravan aircraft. It provides intelligence, surveillance and reconnaissance capabilities and can be armed with Hellfire missiles. (Wikimedia Commons)
June 16th, 2016 - 08:30 GMT

Iraq: US green lights proposed $181M aircraft maintenance deal

The Facilitation Agreement is one of the most important agreements of the multilateral trade system of the WTO and the first to be added after 18 years of the establishment of WTO. (Flickr)
June 16th, 2016 - 07:30 GMT

Saudi Arabia becomes second Arab country to ratify WTO Trade Facilitation Agreement

Technological advances and consumer preferences over the years has drastically reduced demand for luxury Egyptian cotton. (Shutterstock)
June 16th, 2016 - 05:41 GMT

Egyptian cotton industry crippled by cut subsidies, falling demand

With markets already balancing on the back of modest global economic growth, the price for crude oil last week topped $50 per barrel for the first time in nearly a year. (File photo)
June 16th, 2016 - 04:37 GMT

Brexit fears, Goldman Sachs report drive oil prices below $50

Microsoft will benefit from LinkedIn’s ‘Sponsored Content’ space by enhancing its business to business marketing offering. (File photo)
June 15th, 2016 - 01:00 GMT

Microsoft's LinkedIn acquisition creates new opportunities in the Middle East

Commerzbank declined to comment on the Der Semit's account due to data protection and bank secrecy laws.  (Opednews.com)
June 15th, 2016 - 12:00 GMT

Germany's Commerzbank shuts anti-BDS account in landmark move

The development plan approved in December 2015 plan would increase funding for housing, education, employment of Arab women, infrastructure, welfare services and public transport in Arab localities. (AFP/File)
June 15th, 2016 - 10:00 GMT

Israel downplays delay in $645M Arab budget allocation

Investment-friendly government policies and overall ease of doing business has made the US more attractive to global sovereign investors, says an industry expert. (File photo)
June 15th, 2016 - 08:00 GMT

Middle East sovereigns remain bullish over US investments

The threat to local retailers might turn into an opportunity if these companies restructured their balance sheets and concentrated on niche markets, one economist says. (Mall of Arabia)
June 15th, 2016 - 07:00 GMT

Saudi Arabia: Law permitting 100 percent foreign investment in retail will boost sector

 The rebalancing of the market may be delayed if halted supplies in Canada, Nigeria and Libya are able to restart, according to the IEA. (Shutterstock)
June 15th, 2016 - 05:20 GMT

IEA predicts oil market balance in 2017

The company said it reached a deal with a committee of holders of notes and bonds to enter into a "standstill agreement" on interest payments for April, which has now been extended to July 1. (European Oil & Gas)
June 14th, 2016 - 12:00 GMT

Gulf Keystone Petroleum gets extension on debt repayments

King Fahd University of Petroleum & Minerals was ranked the best university in the Arab region for a second consecutive year. (KFUPM)
June 14th, 2016 - 11:00 GMT

Saudi varsities continue to dominate 'best university' rankings for the region

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