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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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Last week, oil prices rose above $50 a barrel for the first time this year following supply disruptions in Canada and Nigeria and a decline in crude inventories in the United States. (Shutterstock)
May 31st, 2016 - 05:00 GMT

Oil may hit $60 by summer: UAE economy minister

The new sukuk issue followed DP World's successful refinancing of over $1.1 billion of the existing $1.5 billion 2017 sukuk.  (Port Technologies)
May 31st, 2016 - 04:02 GMT

DP World raises $1.2B in oversubscribed sukuk

BSA estimated the software piracy rate in Lebanon at 70 percent in 2015 compared to 71 percent in 2013 and 2011 and 72 percent in 2009. (Flickr)
May 30th, 2016 - 11:49 GMT

Lebanon's software piracy rate as high as China's: US report

The ministry seeks to produce 20 percent of new and renewable energy of the total national electricity grid by 2020. (File photo)
May 30th, 2016 - 10:59 GMT

Egypt partners with GDF Suez, Toyota and Orascom for wind power plant

Construction of pipeline infrastructure, the development of the gas fields and the pipeline to the Southern Turkish would cost about $4 billion alone. (File photo)
May 30th, 2016 - 10:00 GMT

Israel mulls European gas exports via Turkey

The LuLu group chairman announced that they have already invested SR1 billion in Saudi Arabia and intend to further invest SR800 million in the next two years. (YouTube)
May 30th, 2016 - 09:00 GMT

LuLu Group plans 12 more stores in Saudi Arabia by 2018

Investment in roads, infrastructure, water, sewage and desalination plants are being made thanks to Arab development fund grants. (Shutterstock)
May 30th, 2016 - 08:00 GMT

Egypt to establish $92M industrial zone in South Sinai

Shangri-La Hotel, Qaryat Al Beri, Abu Dhabi. (Shangri-La)
May 30th, 2016 - 07:15 GMT

New municipality fees at Abu Dhabi hotels to passed on to guests

The use of shocking images on cigarette packaging has been introduced in Australia. (Globedia)
May 30th, 2016 - 05:00 GMT

UAE to scare smokers with gory pictures, higher cigarette taxes

Over the past two years, Jordan has been importing liquefied natural gas (LNG) from Qatar, and from Royal Shell, Vitol, and others. (Shutterstock)

(Shutterstock)
May 30th, 2016 - 04:12 GMT

Israel-Jordan gas export agreement 'soon': Noble Energy

The Swissotel, Movenpick Hajar Tower and Mecca Clock Royal Tower Hotels in Mecca. (Booking.com)
May 29th, 2016 - 11:24 GMT

Mecca hotels to target 80 percent Saudization by end 2016

The Americana Group also includes Costa Coffee, Baskin Robbins and Krispy Kreme franchises. (Americana Group)
May 29th, 2016 - 10:00 GMT

Adeptio abandons plans for stake in Americana-Kuwait Food Co

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