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Economic blow to European economies as Hormuz disruption threatens energy supplies
March 19th, 2026 - 10:42 GMT
Dr. Mansour Al-Maswari

Mansour Al-Maswari

Economic blow to European economies as Hormuz disruption threatens energy supplies

ALBAWABA- A new study has warned that a near-total disruption of shipping through the Strait of Hormuz could deal a severe economic blow to European economies, as escalating Iran–Israel tensions threaten global energy flows. The research, conducted by the Supply Chain Information Institute alongside the Centre for Complexity Science and Delft University of Technology, finds that the impact would be concentrated in a small number of EU countries and would ...
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Christie’s Dubai has added a new sale category featuring luxury jewellery alongside its art and watches sales. (Art of the Middle East)
March 14th, 2016 - 11:52 GMT

Christie's celebrates $300M worth of sales in MENA over last ten years

Higher unemployment in a slower economy triggers a positive cycle of young pioneering professionals who create their own jobs by starting their own small ventures. (File photo)
March 14th, 2016 - 11:05 GMT

Weak economy, booming tech industry?

The Finance Ministry said in the 2016 budget statement in December that it would apply “additional fees on harmful goods" such as tobacco and soft drinks. (File photo)
March 14th, 2016 - 10:00 GMT

Saudi smokes out as tobacco taxes double prices

Big Bus Tours, Etihad Airways, Al Burj Travel, Park Hyatt Abu Dhabi Hotel and Villas, Jannah Hotels and Resorts, and Al Mafraq Hotel will also participate in the roadshow. (File photo
March 14th, 2016 - 09:00 GMT

Abu Dhabi Tourism & Culture European roadshow gets underway

Oman Rail had already significantly advanced plans for its $11 billion rail network. (File photo)
March 14th, 2016 - 08:00 GMT

Oman Rail on track for completion by 2020

GCC governments currently have deposits estimated at $860 million in Banque du Liban. (File photo)
March 14th, 2016 - 07:00 GMT

Weakening GCC-Lebanon tensions will negatively affect banking sector: Moody's

Egypt recently announced plans to purchase $20M in bomb detectors for its airports. (File photo)
March 14th, 2016 - 06:00 GMT

Egypt allocates an additional $32M towards airport security

The minister said he expects Iran’s crude oil exports to hit 2 million bpd this month. (Iran Daily)
March 14th, 2016 - 05:11 GMT

Iran will consider oil production freeze after four million barrels

Vakifbank, Turkey's third-largest state bank, has received approval to launch an Islamic banking division. (EBRD)
March 13th, 2016 - 01:00 GMT

Islamic finance gains ground in Turkey

Mecca retailers have been accused of colluding to fix rice prices. (AFP/Farjana Khan Godhuly)
March 13th, 2016 - 12:17 GMT

Rage over rice prices: Saudi consumers accuse traders of monopolizing market

The statement comes at a time when the government is considering granting a license to majority state-owned Telecom Egypt. (Orange)
March 13th, 2016 - 11:50 GMT

Orange Egypt warns against granting fourth mobile operator license

The Mafraq project is expected to be completed in August 2017. (File photo)
March 13th, 2016 - 11:20 GMT

Saudi firm acquires majority stake in Jordanian power plant company

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