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Hegseth during US Committee hearing
July 23rd, 2026 - 09:04 GMT
P. Choiaqo

P. Choiaqo

Hegseth asks Congress to increase defense budget to $1.5 trillion

ALBAWABA - Hegseth appeared before Congress yesterday to answer questions regarding the Iran war and the costs related to it; instead of answering, he bold-facedly requested Congress increase his department’s budget to $1.5 trillion. The Trump administration continues to push Congress for more funds to cover the heavy cost of the Iran war, Hegseth says it cost $37 billion so far and is asking for $70 billion more, while analysts ...
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Tiran and Sanafir are hot spots for both Egyptian and foreign scuba diving hobbyists. (Flickr/Derek Keats)
April 13th, 2016 - 07:00 GMT

Egypt's scuba diving tourism fears over loss of Red Sea islands

Saudi Arabia is reportedly seeking a bank loan of between $6B-$8B, in what would be the first significant foreign borrowing by the kingdom's government for over a decade. (File photo)
April 13th, 2016 - 06:00 GMT

Low oil continues to bite as Saudi suffers Fitch downgrade

The new fee will go towards Tawtheeq and registration costs for tenancy contracts. (Shutterstock/Patryk Kosmider)
April 13th, 2016 - 05:00 GMT

Abu Dhabi to levy new taxes on expat rentals, hotel bills

Arable land along the Nile River. (Pixabay)
April 13th, 2016 - 04:15 GMT

Egypt earmarks 500,000 acres of arable land for Saudi investors

Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, overlooks plans for a $30B Wholesale City in Dubai. (File photo)
April 12th, 2016 - 12:00 GMT

UAE targets five percent FDI contribution to GDP over next five years

4,000 additional units, due for delivery at the end of the year, will bring some respite to the housing shortage in Abu Dhabi.  (Shutterstock/alex7370)
April 12th, 2016 - 10:57 GMT

Shortfall in competed homes weigh heavily on Abu Dhabi property market

Financing projects is problematic as credit worthiness in the Mena region has deteriorated over the past six months> (File photo)
April 12th, 2016 - 10:42 GMT

MENA energy investments to reach $900B: Big plans in uncertain times

Permanent residency applications would be open to those with require specific academic qualifications and professional skills, while investors will need sufficient capital funds. (Visa Guide)
April 12th, 2016 - 09:18 GMT

Saudi's proposed green-card system to divert remittances back into the economy

There have been a lot of strategic developments over the last year which will pave way for the growth of Takaful within the Islamic finance landscape. (File photo)
April 12th, 2016 - 08:19 GMT

Islamic insurance sector holds untapped potential: report

According to Mansour, draft laws governing electronic signature and digital transactions have been awaiting approval for over 16 years. (Shutterstock)
April 12th, 2016 - 05:00 GMT

Hacked and jacked: Lebanon lost $12B to cybercrime in 2015

The financing for the petroleum and petroleum products will have an interest rate of 2 percent and will be repaid over 15 years.  (File photo)
April 12th, 2016 - 04:24 GMT

Saudi's $23B oil deal with Egypt is a policy change from handouts to loans

Iran reiterated that Iranian ships do not need to enter Saudi waters to export its oil. (Photo courtesy of Press TV)
April 11th, 2016 - 12:00 GMT

Saudi ban on Iranian oil tankers 'fruitless': Iran oil minister

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