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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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Moody's maintains that the local impact of funding volatility in Saudi will still be manageable due to a broad depositor base. (File photo)
March 17th, 2016 - 05:05 GMT

Bad news for Saudi's banking sector as Moody's revises outlook to negative

The Petra Development and Tourism Authority law allows foreign investment outside Petra Archaeological Park. 
(Wikimedia Commons)
March 16th, 2016 - 01:30 GMT

Jordan lawmakers rule against Petra property sales or rentals to Israelis

The Bank of Beirut is one the six Lebanese banks listed on Beirut Stock Exchange. (Allen International)
March 16th, 2016 - 12:30 GMT

Bank of Beirut plans $100M special K-share issue

Higher demand for vehicles will also drive demand for spare parts, worth $11.9B by 2020 in the GCC alone. (AFP/Fayez Nureldine)
March 16th, 2016 - 11:30 GMT

Hit the road: Saudi vehicles to reach 10 million by 2020

The Jordan Response Plan (JRP) 2016-2018 was developed with the international community and the UN, Ensour said, with $8 billion required to cover the needs of Syrian refugees over this period. (AFP/File)
March 16th, 2016 - 10:30 GMT

The effects of Syria's five year war has cost Jordan $7B: PM

The total value and volume of M&As declinined to $7.78 billion and 193 deals in 2015. (Shutterstock)
March 16th, 2016 - 09:37 GMT

MidEast M&A activity lowest in six years

The two exceptional dollar tenders indicate that the CBE wants to send a clear message to the market that it is determined to restore balance to the banking sector. (File photo)
March 16th, 2016 - 09:17 GMT

Egypt's black market battle: CBE auctions another $1.5M

The Saudi government has been looking to reduce spending after posting a budget deficit of nearly $100B last year. (Wikipedia)
March 16th, 2016 - 07:00 GMT

Saudi Arabia launches fresh austerity drive

Saudi Arabia is expected to have the highest salary increases, but real pay rises net of inflation will average just 1.2 percent. (File photo)
March 16th, 2016 - 06:00 GMT

Double whammy: GCC cutbacks will hit salaries as cost of living rises

Most parents and educators recognize the power of ed-tech to help build social and emotional skills. (Shutterstock)
March 16th, 2016 - 05:00 GMT

MENA private investment into education technology 'shows signs of stagnation': WEF

A company official said they had paid half of the salary to the workers and they are planning to send them back. (File photo)
March 15th, 2016 - 02:00 GMT

Oman: Expatriate staff strike against working conditions, non-payment of salaries

Toronto, the provincial capital of Ontario, Canada. (Wikipedia)
March 15th, 2016 - 12:59 GMT

Canada in drive to attract Gulf investments

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