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Hormuz ships
March 21st, 2026 - 04:31 GMT
Osama Ali

Osama Ali

"Hormuz Open for Japan": Iran allows Japanese ships to pass

ALBAWABA - As tensions continue to impact international energy channels, Iran has indicated that it is prepared to help Japanese ships, particularly oil tankers, pass through the Strait of Hormuz safely. In an interview with Kyodo News, Iranian Foreign Minister Abbas Araghchi denied reports that Tehran has closed the vital canal, stating that it is still accessible. He clarified that while other countries are still free to cross the strait ...
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Rosneft is Russia's largest oil producer. For the fourth quarter, the company said its net production was up 11.8 percent year-on-year for a new record high. (Shutterstock)
February 21st, 2017 - 05:24 GMT

Russia's Rosneft begins new drilling operations in Iraq

Many candidates in the country’s November elections ran on an anti-austerity ticket after the previous parliament was dissolved due to disputes with the government over the fuel price increase. (Shutterstock)
February 20th, 2017 - 01:00 GMT

Kuwait's lawmakers move to overturn fuel and utility price increases

The Chamber is planning to strengthen its international presence in 2017 with the opening of representative offices in India and Brazil.  (Shutterstock/Philip Lange)
February 20th, 2017 - 12:00 GMT

Dubai unveils five-year strategy to boost competitiveness in private sector

"The oil, gas and petrochemicals sectors will continue to be the backbone of economies across the Mena region," said Meed editorial director Richard Thompson. (Shutterstock)
February 20th, 2017 - 11:00 GMT

MENA continues heavy oil and gas spending despite low oil prices

Performers at the opening ceremony for Medina Capital of Islamic Tourism 2017. (SPA)
February 20th, 2017 - 10:00 GMT

Medina ushers in activities as part of nod as 'Capital of Islamic Tourism 2017'

Wider fiscal reforms such as subsidy reductions, fee increases, etc for 2017 announced so far have been substantially less than in early 2016.  (Shutterstock)
February 20th, 2017 - 09:00 GMT

GCC fiscal reform proves a tricky balancing act with economic growth

Economic associations warn that any increase in taxes will lead to economic slowdown and to heavy recession due to the crises that hit the country in the past five years. (Shutterstock)
February 20th, 2017 - 08:00 GMT

Tax hikes will have negative effect on growth and investments: Lebanese economic associations

The project will be built over 700 sq km east of Cairo between Greater Cairo and the Red Sea and will be executed within five to seven years at a cost of $45 billion.  (File photo)
February 20th, 2017 - 07:00 GMT

First stage development of Egypt's new Capital City gets underway

The amount of the fees increase is dependent on the schools' rating by the Dubai School Inspection Bureau. (File photo)
February 20th, 2017 - 06:00 GMT

Dubai to hike school fees by up to 4.8 percent

IDEX, which runs to Thursday, is one of the largest arms fairs in the Middle East and is held biannually to showcase the latest in defence technologies and innovations.  (AFP/Karim Sahib)
February 20th, 2017 - 05:32 GMT

UAE anticipates $1.2B in arms deals as defense expo kicks off

Resort Hotel at Raouche in Beirut, Lebanon (Shutterstock/JPRichard)
February 19th, 2017 - 12:42 GMT

Aoun's Gulf visit brings hopes for increased tourism to Lebanon

In 2016, Brazilian exports to the countries of the GCC – Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Bahrain and Oman – totalled $6.04 billion, and the imports were $2.66 billion. (Shutterstock)
February 19th, 2017 - 11:00 GMT

Gulfood 2017: GCC meat consumption to rise by 4.3 million tons by 2019

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