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Iraqi oil field worker in Basra
June 25th, 2026 - 12:14 GMT
P. Choiaqo

P. Choiaqo

Iraq rethinking its OPEC membership due to oil production limits

ALBAWABA - In a Reuters exclusive report: Iraq, one of the founding members of OPEC, is now considering leaving the organization after Strait of Hormuz disruptions and limited oil production quotes hit the county hard. “Saudi Arabia and ​other OPEC allies should treat this matter with the utmost seriousness. Failing that, Iraq will be compelled to consider all available options,” a senior Iraqi oil ⁠ministry official told Reuters. Iraq’s economy ...
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S&P warns that economic growth will remain relatively weak as long as the domestic political standstill persists and the Syrian civil war continues. (File photo)
September 5th, 2016 - 06:00 GMT

No negativity: S&P upgrades Lebanon outlook to stable

After NY and London, Singapore, Hong Kong, Paris and Milan were the next most popular destinations for Arab property investors. (File photo)
September 5th, 2016 - 05:00 GMT

Arab property investors go stateside to New York over London

Plastic waste generated in Saudi Arabia  is double the consumption rate in the GCC. (Econet.ru)
September 5th, 2016 - 04:37 GMT

Saudi Arabia's plastic consumption 20 times higher than global average

Low oil prices prompted the government to reduce spending notably, with cuts mostly hitting non-essential expenditures with little impact on the domestic economy. (Shutterstock)
September 4th, 2016 - 12:00 GMT

Kuwait posts $15.2B deficit as low oil continues to exert pressure

The drilling campaign on Zohr will continue in 2016 with the drilling of a sixth well. (Wikipedia)
September 4th, 2016 - 11:00 GMT

Eni steps up drilling in Egypt's Mediterranean with fifth well

The new project will serve around 350,000 people while indirect beneficiaries from the project would reach 800,000. (Wikimedia Commons)
September 4th, 2016 - 10:00 GMT

Lebanon gets $55M World Bank loan to fight Bekaa Valley pollution

GCC countries set no specific emission reduction targets at COP21 but promised to develop their renewable energy sectors. (Shutterstock)
September 4th, 2016 - 09:00 GMT

GCC's interest in diversifying the energy mix comes at an opportune time

The “district”, of which over half will be open space, will offer 1 million square feet of climate-controlled arcades for an “all-season lifestyle”. (Twitter)
September 4th, 2016 - 08:00 GMT

Dubai's futuristic Jumeirah Central development will have 'aerial gondolas'

Statistics also showed that the total of investment funds assets in Saudi Arabia dropped to USD27.6 billion in 2015 compared with USD29.3 billion in 2014. (AFP/Fayez Nureldine)
September 4th, 2016 - 07:00 GMT

Saudi share market index drops again

 A Kurdish  fighter walks near a wall along the Syria-Turkey border at Ras al-Ain on February 2, 2016. (AFP / Delil Souleiman)
September 4th, 2016 - 06:00 GMT

Turkey progresses with wall construction on Syrian border amid tight security

Cigarettes will be taxed at a fixed rate of 50 percent of the pack's consumer price in addition to price increases.
September 4th, 2016 - 05:18 GMT

VAT in Egypt: A guide to taxed and exempted goods

A successful IPO can improve Kunooz Oman’s access to capital and new mining opportunities in Oman and overseas. (Shutterstock)
September 4th, 2016 - 04:34 GMT

Mining player Kunooz Oman Holding plans IPO in 2017

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