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May 28th, 2026 - 06:34 GMT

Sally Shakkour

Oil prices up 3% after renewed clashes between the US, Iran

ALBAWABA - Oil prices jumped more than 3 percent on Thursday morning after renewed tensions between the United States and Iran in the Strait of Hormuz. Brent crude futures rose $3.51, or 3.72 percent, to $97.80 a barrel by 03:44 GMT, while the more actively traded August contract climbed $3.35, or 3.63 percent, to $95.60. The July contract is set to expire on Friday, according to Reuters. U.S. West Texas ...

Saudi Oger has attracted significant media attention lately as tens of thousands of foreign workers were left destitute and stranded, unpaid for months before being laid off. (AFP)

April 18th, 2017 - 05:25 GMT

Saudi Oger sells 2.8 percent stake in Saudi Investment Bank to cover debts

Egypt expects the first oil shipment from Iraq to reach on May 1, 2017. (File photo)

April 18th, 2017 - 05:14 GMT

Egypt inks first oil deal with Iraq

Supporters of Algerian President Abdelazziz Bouteflika gather during a political meeting ahead of the country's presidential election in 2014. (AFP/Farouk Batiche)

April 18th, 2017 - 04:59 GMT

Algeria: Dirty politics, corruption rock May 4 parliamentary elections

Saudi Arabia hopes to see at least 1 million foreign workers leave the country during this year's three-month grace period. (AFP/File)

April 18th, 2017 - 04:31 GMT

Saudi Arabia Deports More Than 5.5 Million Expat Workers in Four Years

The new owner, a subsidiary of Abu Dhabi Media Investment Corporation, will move 'The National' to its new headquarters in twoFour54 starting from July 1, 2017. (Facebook)

April 18th, 2017 - 04:06 GMT

Abu Dhabi's 'The National' cuts 25 percent of staff under new owner

With these projects, Tunisia says it will generate 472 jobs in different regions of the country for the unemployed university graduates. (AFP/File)

April 18th, 2017 - 03:24 GMT

Tunisia launches $2.8M green projects for young graduates

Statistics show that electricity demand in the MENA region has been growing rapidly, driven by population growth and urbanization, industrialization, and low electricity prices. (Pixabay)

April 18th, 2017 - 02:53 GMT

MENA needs to invest over $300B to meet electricity demand

President Recep Tayyip Erdogan owes his success largely to the growth of the Turkish economy in the past decade, but he must keep in mind that more direct investment requires political stability and a reliable legal framework. (AFP/File)

April 18th, 2017 - 02:34 GMT

What does Turkey's referendum mean for foreign investors?

Since the 25 January Revolution, Egypt's economy encountered many challenges, from political unrest and declining tourism to currency fluctuations and fuel shortages. (AFP/Khaled Desouki)

April 18th, 2017 - 01:34 GMT

Egypt's car sales drop 40 percent

Hamas security forces stand guard at Erez border crossing with Israel on March 26, 2017. (AFP/Mahmud Hams)

April 18th, 2017 - 01:01 GMT

Gaza increases tariffs on Israeli imports

Qatar revamps its work visa rules for expats amid accusations that some sectors, especially construction, are rife with abuse of migrant workers. (AFP/Karim Jaafar)

April 18th, 2017 - 12:33 GMT

Qatar changes work visa rules for expats

The introduction of a value-added tax in the GCC region may see inflation soar by as much as 1.4 per cent, but it is expected to generate $25 billion in annual tax revenue. (Pixabay)

April 18th, 2017 - 11:36 GMT

How will GCC's VAT rules impact commodities?