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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 ...

The decline in investments has affected the economic cycle and the Lebanese employment and industrial sectors. (File photo)

(File photo)

October 30th, 2016 - 11:00 GMT

Political crisis continues to take its toll on Lebanese economy: Minister

The current contribution of mining in Saudi Arabia's GDP is 2.5 percent. (Shutterstock)

October 30th, 2016 - 10:00 GMT

Saudi Arabia to increase investment licenses for mining sector

With 13 Chinese cities connected to Dubai with over 100 weekly flights, Chinese travellers to Dubai International are growing year on year. (VisionDubai.cn)

October 30th, 2016 - 09:00 GMT

Dubai Week in China concludes with 11 deals signed

The ownership structure of GCC banks where well established local private shareholders often control sizeable stakes, and foreign banks only hold minority stakes, is also a stumbling block to successful merger activity. (File photo)

October 30th, 2016 - 08:00 GMT

GCC banks resisting mergers despite pressures: Fitch

As far as companies whose financial year has already ended, it is clear that on their balance sheet date the laws only provide for income tax at 12 per cent. (Shutterstock)

October 30th, 2016 - 07:00 GMT

Oman's companies seek clarity on corporate income tax

The plant, which began operating around 10 months ago, contributes 20 per cent of the total power supply in the Kingdom. (Shutterstock)

October 30th, 2016 - 05:56 GMT

Jordan inaugurates natural gas plant in partnership with Egyptian FAJR

SaudiGulf Airlines said the Riyadh operations will be followed by two daily flights to Jeddah starting from November 27. (File photo)

October 30th, 2016 - 05:31 GMT

New carrier SaudiGulf Airlines takes flight

Saudi Arabia was highlighted for its declining performance with its gender gap widening across the economic participation and opportunity subindex, especially relating to earned income. (Shutterstock)

October 27th, 2016 - 12:49 GMT

Gender equality: GCC economies among worst performing in overall index

The Belgian airliner, one of the six proprietary airlines in the German-based TUI Group, is the latest among European airlines to announce a resumption of flights to Sharm El-Sheikh. (Wikimedia Commons)

October 27th, 2016 - 12:00 GMT

Belgium's Jetairfly lifts flight ban to Sharm El Sheikh

The central bank governor's visit to Asia highlights Iran's efforts to get over a raft of banking problems which have hampered the country's trade normalization with the world. (File photo)

October 27th, 2016 - 11:00 GMT

Iran continues charm offensive to woo Asian investors

A $299M property, the mall will boast of major leisure attractions such as an amphitheater, mini water park and a mini Miracle Garden, which will blend retail with recreation and wellness. (Cityland)

October 27th, 2016 - 10:10 GMT

Dubai's nature-inspired Cityland Mall to feature 'botanical wonders'

One of the main targets of the meeting is to put a joint experience database in which all can benefit from the Gulf's successful experiences. (File photo)

October 27th, 2016 - 09:50 GMT

GCC housing ministers put their faith in the private sector