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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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144,000 people also visited Oman via cruise ships in 2016, ranking Germans, Britons, Italians, Spanish and Americans as the top five tourists. (File photo)
December 27th, 2016 - 01:00 GMT

Oman enjoyed rise in tourism in 2016

After two years of back to back spending decline due to lower oil prices, the spending for 2017 is budgeted to rise eight percent in 2017. (File photo)
December 27th, 2016 - 12:00 GMT

Saudi stocks jump 100 points on release of 2017 budget

The six sectors that the Strategy will focus on include aerospace, maritime, pharmaceuticals and medical equipment, aluminium and fabricated metals, food and beverages, and machinery and equipment. (File photo)
December 27th, 2016 - 11:00 GMT

Dubai Industrial Strategy 2030: Sheikh Hamdan issues directives to boost implementation

The government was supposed to re-impose the Capital Gains Tax next year, but in November it further postponed it to additional three years. (File photo)
December 27th, 2016 - 10:00 GMT

Egypt: Mismanaged implementation of capital gains tax results in $188M of lost revenue

Earlier this year Shuaa Capital laid of 15 percent of its workforce. (File photo)
December 27th, 2016 - 09:00 GMT

Dubai's Shuaa Capital buys 14 percent stake in Bahrain's Khaleeji Commercial Bank

Talks will also focus on accelerating the start of the planned oil and gas pipeline project from Iraq to Jordan. (File photo)
December 27th, 2016 - 08:00 GMT

Discussions put Jordanian-Iraqi oil pipeline construction back in the spotlight

Years of sanctions have left Iran with outdated and unsafe aircraft. (File photo)
December 27th, 2016 - 07:00 GMT

Iran strikes half-price deal on Boeing jets

The introduction of various taxes on expat visas over the next three years is set to push Saudisation and consequently increase labour costs for the corporate sector. (File photo)
December 27th, 2016 - 06:06 GMT

Saudi Arabia's 2017 budget: Higher taxes will increase labor costs

Former UN Secretary-General Ban Ki-moon with TWAS Executive Director Romain Murenzi, who chaired the study panel to create the Technology Bank. (UN-OHRLLS/ Louise Stoddard)
December 26th, 2016 - 08:14 GMT

UN to establish 'milestone' technology bank, headquartered in Turkey

In recent months, a number of European airlines also resumed direct flights to the popular South Sinai tourist destination, including Turkish, Belgian and Polish companies. (YouTube)
December 25th, 2016 - 01:10 GMT

EgyptAir resumes cargo flights to Moscow over a year after Russian plane crash

The crash in oil prices produced a deficit of SR 366 billion in 2015.  (AFP/FIle)
December 22nd, 2016 - 02:36 GMT

Saudi Arabia's 2017 budget: National deficit reduced to $79B

At present the legislation allows commissions made on the sale of financial products that are sold in the UAE, like some other markets, to be paid up front. (Shutterstock)
December 22nd, 2016 - 11:00 GMT

UAE to reform regulations on controversial commission-based sales of financial products

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