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Hormuz Strait
August 15th, 2026 - 12:17 GMT
Osama Ali

Osama Ali

Washington is coming for Iran's wallet

ALBAWABA - The United States is developing a new, wide package of economic measures aimed at increasing pressure on Iran, with senior officials describing the planned penalties as among the harshest ever imposed on a single country. The approach will blend financial sanctions, stepped-up maritime enforcement and calibrated military deterrence, but it will also leave diplomatic doors open to allow for the potential of future negotiations, a source familiar with ...
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Gold priced bounced back from one-month lows as renewed concerns over tensions with North Korea and an escalating diplomatic crisis between the U.S. and Turkey underpinned safe haven demand for the precious metal. (File photo)
October 10th, 2017 - 10:29 GMT

Gold Prices Rise on Softer Dollar, Geopolitical Tensions

The new fund is expected to create 2,600 jobs by the end of 2020; 58,000 jobs by 2027. Pictured here: Saudi Crown Prince Mohammed bin Salman. (AFP/ File)
October 10th, 2017 - 09:20 GMT

Saudi Arabia Launches $1 Billion Fund to Support SMEs

Iran will be subject to tariffs of 57.5 euros per tonne from Saturday, the EU said. (AFP/ File)
October 9th, 2017 - 01:19 GMT

EU to Impose New Trade Tariffs on Iranian Steel, Starting This Week

Nadec is proposing to buy all shares of Danone and in exchange offer new Nadec shares to Danone's current shareholders. (File photo)
October 9th, 2017 - 12:23 GMT

Saudi Arabia's Nadec, Danone Mull Possible Merger

The total assets of the 48 banks operating in the country reached Dh2.66 trillion ($723 billion) for 2016. (File photo)
October 9th, 2017 - 11:55 GMT

UAE Banks Lead GCC With $723 Billion in Assets

With $8 per night, you get access to Wifi, a gym, laundry, common area, balcony and rooftop pool. (Pixabay)
October 8th, 2017 - 11:43 GMT

Not Only for the Rich: Dubai Targets Backpackers With $8 a Night

Saudi Arabia has plans for a new digital currency for banks. (Pexels)
October 8th, 2017 - 10:59 GMT

Saudi Arabia Announces Digital Currency Exclusively for Banks

According to the decisions, rents paid by companies will be cut by 50 percent in some areas. (Pixabay)
October 8th, 2017 - 09:58 GMT

Qatar Boosts Private Sector's Contribution to Economy Amid Blockade

According to a report by Oxford Economics, salaries in the UAE are likely to face pressures on higher living costs, including the introduction of VAT. (File photo)
October 8th, 2017 - 08:59 GMT

Salaries in UAE to Slow Down or Stagnate in 2018: Report

The two countries signed 15 agreements, including one for Saudi Arabia to buy Russia’s S-400 missile defense system. (AFP)
October 8th, 2017 - 08:41 GMT

Saudi Arabia, Russia Sign 15 Agreements and a Dozen New Projects on King Salman's Visit

According to the UN, only a few Arab countries have laws to tackle issues like marital rape, honor killings and incest. (Shutterstock)
October 5th, 2017 - 01:27 GMT

Violence Against Women Costs Egypt $123 Million a Year: UN Report

Saad Sherida al Kaabi, Qatar Petroleum's President and CEO. (File photo)
October 5th, 2017 - 12:50 GMT

Qatar Petroleum Was Quick to Absorb Impact of Saudi-Led Blockade: CEO

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