Egypt aims to accelerate energy projects with Libya, including gas pipeline links, refining of Libyan crude in Egypt and an electricity interconnection,…
Jasem Albudaiwi, secretary-general of the Gulf Cooperation Council (GCC), said on Sunday that the signing of the General Agreement on the GCC Railway Project…
Mega projects in Saudi Arabia are offering increasing opportunities for small and medium-sized factories to expand their businesses and integrate into local…
Iraq produces more than 5 million barrels of oil per day (bpd), Oil Minister Basim Mohammed told state news agency INA on Saturday. According to Reuters, Iraq…
Credit rating agency Fitch has affirmed Kuwait's long-term foreign-currency Issuer Default Rating (IDR) at 'AA' with a stable outlook. "Kuwait's key credit…
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), on Monday disclosed an 8.2% stake in US Carnival Corp. This comes as shares are at…
The COVID-19 pandemic is expected to wipe out 6.7% of working hours globally in the second quarter of this year, equivalent to the labor of 195 million full…
Saudi Arabia will host a virtual special meeting Friday of energy ministers from the Group of 20 major economies in a bid to ensure "market stability" amid a…
Algerian banks will defer or reschedule loan payments for firms which have been financially affected by the coronavirus crisis, the country’s central bank said…
An economic report said the current indicators have stressed the cohesion of the Kingdom’s national economy, amid the unprecedented challenges afflicting the…
Seventeen Saudi government agencies are cooperating with ports to boost the flow of goods and products through Saudi marine outlets in order to speed up the…
Jordan’s central bank governor, Ziad Fariz, said on Monday it was too early to predict the extent of the negative impact on the cash-strapped economy from a…
Dubai's state-backed developer Emaar said on Monday it sold an 80% share of its district cooling project around the Burj Khalifa, the world's tallest building,…
Lebanese banks are to apply an exchange rate of 2,600 pounds per dollar for withdrawals from small accounts of up to 5 million Lebanese pounds, a central bank…
The United Arab Emirates' central bank announced new measures to guarantee liquidity in the banking system in the face of the new coronavirus outbreak,…
Saudi Aramco will delay the release of its crude official selling prices (OSP) for May until April 10 to wait for the outcome of a meeting between OPEC and its…
The electricity grids of Egypt and Sudan were officially connected on Friday with an initial capacity of 60 megawatts, Sudan’s Ministry of Energy and Mining…
As many resort to working and studying at home due to self-isolation, the novel coronavirus has created a situation demanding that Egypt improves its internet…
Saudi supply companies and chains have begun increasing their share of strategic reserves of consumer goods in preparation for the Muslim holy fasting month of…
OPEC and allies are due to meet during a video-conference on Thursday to discuss a possible new global crude supply cut, a Saudi source said Sunday, according…
The United Arab Emirates has officially requested to postpone the start of the Expo 2020 Dubai until October next year due to the coronavirus pandemic, the…
Egyptian President Abdel Fattah al-Sisi on Saturday postponed the launch of mega-projects including the Grand Egyptian Museum and moving civil servants to a…
OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10 percent of worldwide supply, an OPEC source said. …
Kuwaiti Oil Minister Khaled al-Fadhel has announced the resumption of crude shipments from the so-called Neutral Zone, which the country shares with Saudi…
Saudi Arabia rejected on Saturday Russia's remarks that the Kingdom has rejected to extend the OPEC+ deal to cut output. Saudi Energy Minister Prince…
Lebanon's central bank said on Friday it was launching a foreign exchange unit to centralize the price of dollars for money-changers, part of efforts to rein…
The head of the International Monetary Fund said Friday the recession sparked by the coronavirus pandemic is “way worse” than the 2008 global recession. IMF…
More than two million workers in Turkey have lost their jobs due to measures taken to contain the coronavirus outbreak, the main opposition party said on…