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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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The banking and financial services sector in the region are adapting fast to both global and regional economic challenges and new opportunities. (Shutterstock)
February 14th, 2017 - 11:00 GMT

Cheap oil prices are the impetus for change in GCC economies: UBF

The Cotton Egypt Association estimates that about 90 percent of global supplies of Egyptian cotton last year were fake. (File photo)
February 14th, 2017 - 10:00 GMT

Global clampdown on fake Egyptian cotton injects life in flailing industry

Legoland and Legoland Water Park, Motiongate Dubai and Bollywood Parks are among DXB Entertainments' newest offerings. (VisitDubai.ae)
February 14th, 2017 - 09:00 GMT

Fun costs: DXB Entertainment losses quadruple in 2016

The Iraqi government is seeking to lower its international borrowing costs after the country was badly hit by the slump in oil prices. (Shutterstock)
February 14th, 2017 - 08:00 GMT

Trade Bank of Iraq plans second $1B bond issue

Russian tourists made up 67.9 percent of Egypt’s tourists in 2015. (AFP/File)
February 14th, 2017 - 07:00 GMT

Russian flights to three Egyptian airports resume 23 February

The closure of the Nassib border crossing translated into a heavy drop in Lebanese agricultural exports from 533.18 tons in 2014 to 360.76 tons in 2016. (File photo)
February 14th, 2017 - 06:00 GMT

Struggling Lebanese farmers call for more governmental support

OPEC is still urging oil suppliers outside the group to fulfil their commitments to cut output. (File photo)
February 14th, 2017 - 05:34 GMT

Saudi oil production reaches lowest level in eight years

The project is expected to cost SAR2bn, with investors receiving a profit of 15 per cent of the capital annually or SAR350m through 20-year rental leases. (File photo)
February 13th, 2017 - 01:00 GMT

Consortium to invest $1.3B in 100 international schools in Saudi Arabia

The new terminal will have 118 check-in counters for international and domestic flights, along with 82 immigration counters. (File photo)
February 13th, 2017 - 12:00 GMT

Oman: Muscat International Airport's revamp on track for end-2017 completion

UK trade envoy to Egypt Sir Jeffrey Donaldson MP and the CEO of UK Export Finance Mr Louis Taylor in Egypt in 2016. (Gov.uk)
February 13th, 2017 - 11:00 GMT

UK’s 'biggest trade delegation to date' heads to Cairo

In Saudi Arabia, 39 percent people have made online purchases, an increase of 57 percent from last year and 33 percent bought things using their mobiles in the last month. (Shutterstock)
February 13th, 2017 - 10:05 GMT

Huge rise in MENA e-commerce presents opportunities for fintech sector

Redundancies and the shrinkage of the oil and gas sector continue to place pressure on the demand in the market. (Shutterstock/ Martchan)
February 13th, 2017 - 09:00 GMT

Abu Dhabi rents continue to drop under market pressures

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