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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 ...

Five consortiums have been shortlisted for the implementation and funding of the project. (File photo)

November 28th, 2016 - 06:00 GMT

Jordan: Stage one of Red-Dead project expected to start in 2018

As the government seeks to diversify its revenues away from hydrocarbon revenues, investment revenue is expected to play a major role in Qatar's economy. (File photo)

November 28th, 2016 - 05:37 GMT

'The worst is over for Qatar's trade balance': BMI Research

The deal deepens BP and Eni's partnership in Egypt, where they announced a significant gas discovery in the East Nile Delta in June. (File photo)

November 27th, 2016 - 12:30 GMT

BP buys stake in Eni's Zohr offshore gas field concession for $375M

GCC e-commerce retailer Souq.com, which launched White Friday in the UAE in 2014, offered 25,000 new deals this year. (Shutterstock)

November 27th, 2016 - 11:30 GMT

UAE e-commerce retailers and shoppers jump on the Black Friday bandwagon

The European Development Partners include the European Union (EU), KfW for German Development Cooperation, the European Investment Bank (EIB) and Agence Française de Développement (AFD).

November 27th, 2016 - 10:30 GMT

Egypt secures $296M EU funding for Gulf of Suez windfarm

Amazon.com founder and CEO Jeff Bezos. (AFP/File)

November 27th, 2016 - 09:29 GMT

Retail giant Amazon mulls acquisition of Souq.com

The public sector’s impact on competitiveness was one of these main causes for low productivity, the report said, urging measures to reform public service and ensure equal opportunity in appointments. (File photo)

November 27th, 2016 - 08:46 GMT

Jordan's enormous public sector hinders competitiveness: ESC

Business leaders and investors said that one of the main duties of the new government is to pass the budget as soon as possible to send a positive signal to the market. (File photo)

November 27th, 2016 - 07:30 GMT

Lebanon: Government spending increases nearly ten percent

For customers based in the Middle East and North Africa (Mena), jewellery and watches, as well as contemporary and Islamic art from regional artists are the biggest draws. (Sotheby's)

November 27th, 2016 - 07:00 GMT

Sotheby's to open Dubai office as MENA falls for the lure of the auction

OPEC is trying to cement a preliminary September agreement that would reduce its production to between 32.5 million and 33 million barrels per day. (File photo)

November 27th, 2016 - 06:00 GMT

Vienna oil meet scrapped following Saudi Arabia withdrawal

HE Dr. Yousef bin Ahmad Al-Othaimeen, Secretary General of the OIC delivering his opening speech at the 32nd Session of COMCEC.

November 27th, 2016 - 05:19 GMT

Urgent implementation of structural reforms will boost economy in OIC: COMCEC

Medical treatment for employees injured during official visits and training abroad is also covered. (Shutterstock)

November 24th, 2016 - 01:00 GMT

Dubai introduces workplace safety ruling for government employees