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Oil rises as gold drops
June 15th, 2026 - 06:13 GMT
P. Choiaqo

P. Choiaqo

Gold surges 2% and oil tumbles down 4% as US-Iran war comes to a close

ALBAWABA - After the peace deal between the US and Iran was announced, oil, which had been steadily decreasing, started dropping in earnest in anticipation of the deal between the two warring nations being signed in Geneva, Switzerland, on Friday. This eased concerns regarding inflation and interest rate hikes, allowing gold to surge 2 percent since this morning. After a lot of tumult and turbulence, it seems that the fear-driven ...
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Bahrain, Kuwait, Qatar and Saudi Arabia are planning to peg the common GCC currency to the dollar (File Archive/Shutterstock)
December 2nd, 2013 - 09:02 GMT

The GCC "Euro": Four Gulf countries to use common currency by end of 2013

Saudi aid will help boost Egyptian construction, tourism and investment sectors. (Image credit: Shutterstock)
December 2nd, 2013 - 07:46 GMT

Saudi signs $5 billion aid deal to boost Egyptian economy

Etihad Airways has claimed the top awards at the World Travel event for five years in a row (File Archive)
December 2nd, 2013 - 07:45 GMT

UAE's Etihad soars to top, clinches "World's Leading Airline" title for fifth year in a row

Saudi Arabia is planning to allocate more funding to develop renewable energy sources in the Kingdom (Shutterstock)
December 2nd, 2013 - 07:31 GMT

Why Saudi is spending $29 billion on water, renewable energy infrastructure projects

Sanbar is leaving to spend more time with his family, a second Saudi-based banking source said, adding deputy chief financial officer Mohammed Fahmy Soliman was seen as the most likely candidate to replace him.
December 2nd, 2013 - 03:55 GMT

Get that CV shining, Prince Waleed Bin Talal has a new major job vacancy

Maersk Oil is looking to hire more locals as part of its new Qatarization Strategy (Courtesy of Vimeo)
December 1st, 2013 - 08:33 GMT

Now Hiring: Maersk Oil Qatar aiming to boost recruitment through new campaign

KSA's foreign assets reached a record high of SR2.66 trillion ($708.8 billion) (Shutterstock)
December 1st, 2013 - 08:13 GMT

KSA's foreign assets reach record high in 2013

ADFD has been involved in Mauritania's development initiatives sicne 1977 (Courtesy of UAE Interact)
December 1st, 2013 - 07:49 GMT

Abu Dhabi development fund supports African country's $29.9 million infrastructure project

The US oil shale boom will not impact Qatar's LNG leadership. (Image credit: Shutterstock)
December 1st, 2013 - 07:44 GMT

Asian demand will help Qatar keep LNG lead

Saudi has established the new SABIC R&D center in Bangalore as part of their strategy to reach "the important market of Asia" (Courtesy of Arabian Business)
December 1st, 2013 - 07:27 GMT

Fit for Kings: Saudis new $100 million SABIC tech center in India launched

Global assets of Islamic Finance have doubled since the start of the economic downturn. (Image credit: Shutterstock)
December 1st, 2013 - 07:04 GMT

$1.4 billion Islamic finance industry to see double digit growth

Jordan was one of the top ranked countries for economic freedom in the report, despite its growing notoriety for some of the highest taxes in the region. Jordanians gathered earlier this year to protest against tax hikes on cooking gas and telecommunications (AFP)
December 1st, 2013 - 06:48 GMT

Freedom in Bahrain, Jordan, and UAE? At least economically, reports argue

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