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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 ...

OPEC Secretary-General Mohammad Barkindo said there was strong coordination around the agreement, comments that followed reports suggesting stronger action in the second half of the year. (File photo)

February 26th, 2017 - 08:00 GMT

OPEC, non-OPEC reach 86 percent compliance with product cuts

The inability to impose a cohesive monetary policy is normal given that the country is currently being ripped apart by an armed coup led by Houthi militia. (File photo)

February 26th, 2017 - 07:00 GMT

Yemen's Central Bank struggles to impose unified exchange rate

Misr Italia Deputy Chairman Mohamed al-Assal said his company was no longer in contact with Saudi Arabia over the deal. (Shutterstock)

February 26th, 2017 - 06:00 GMT

Political tensions hit Egyptian housing deals with Saudi Housing Ministry

The government’s decision to raise the renewal fees of passports was a necessity to overcome a “tough” economic situation, with avoiding any impacts on other vital sectors in the state. (File photo)

February 26th, 2017 - 05:00 GMT

Jordan revises temporary passport fees for Gazans

This is for the first time a Saudi monarch is visiting Indonesia after the visit of King Faisal 46 years ago. (AFP/File)

February 23rd, 2017 - 12:00 GMT

Landmark pacts expected during Saudi King Salman's historic tour of East Asia

A member of Egypt's richest family, Sawiris is chairman of Orascom Development Holding, which operates tourist resorts and real estate projects in Egypt and Europe. (Wikimedia Commons)

February 23rd, 2017 - 11:00 GMT

Egypt's currency devaluation a success, but investment will take time: Sawiris

A total of 133 private and international schools across the kingdom will soon shift to new buildings under construction following the new rules. (YouTube)

February 23rd, 2017 - 10:00 GMT

Over 50 percent of Jeddah's private schools face closure due to new leasing rules

The government aims to hold a practical discussion to define the taxes and fees that should be applied, with the least impact on the economic growth and on the low-income class. (AFP/File)

February 23rd, 2017 - 09:00 GMT

Lebanon's budget will consider interests of citizens, economy: PM

Among several economic measures, the government has recently decided to raise the renewal fees of passports for Gazan residents in Jordan from JD25 to JD200. (File photo)

February 23rd, 2017 - 08:00 GMT

Jordan votes to extend validity of temporary passports for Gazans

The venue, located just minutes from Hamad International Airport and in the centre of the urban development of Qatar’s capital Doha, is scheduled for completion by 2020. (AFP/File)

February 23rd, 2017 - 07:15 GMT

Qatari-Turkish JV signed to build seventh FIFA World Cup stadium

Brent crude oil prices remain at one of the lowest levels in real terms in decades. (File photo)

February 23rd, 2017 - 06:42 GMT

Oil price forecast at $50-$70 for next five years

Yemen’s President Abed Rabbo Mansour Hadi called on his government to focus on power, water, roads, health and education in retaken areas. (AFP/File)

February 23rd, 2017 - 05:33 GMT

Saudi Arabia to donate $10B towards Yemen reconstruction