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US President Donald Trump displays the GENIUS Act
January 16th, 2026 - 04:33 GMT
Osama Ali

Osama Ali

Who controls Venezuela's oil now? The $500 Million sale after Maduro’s arrest

ALBAWABA — The U.S. has completed its inaugural sale of Venezuelan crude oil since taking control of the nation's oil industry, a U.S. official confirmed, following the arrest of President Nicolás Maduro. The official, who requested anonymity when speaking to AFP, stated the deal was worth $500 million. The identity of the buyer remains undisclosed, and U.S. officials hinted that more oil sales might occur in the near future. Trump ...
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The project will be set up with the help of a consortium comprising some Egyptian investors. (Shutterstock)
August 8th, 2018 - 08:35 GMT

Saudi Arabia to Establish $1 Billion Medical City in Egypt

SIAG car manufacturing facility in Aqaba will produce SUVs as well as personal vehicles (Photo courtesy of SIAG)
August 8th, 2018 - 08:29 GMT

Jordan to Start Manufacturing Cars

On monthly basis, cash balance saw a surplus for first time this year. (Shutterstock)
August 8th, 2018 - 08:10 GMT

Turkish Treasury Records $160 Million Cash Surplus in July

Brent crude oil futures were up 86 cents to $74.61 per barrel at 1052 GMT and US West Texas Intermediate (WTI) crude futures were up 59 cents at $69.60 a barrel. (Shutterstock)
August 8th, 2018 - 08:03 GMT

Crude Oil Prices Rise as a Repercussion of US Sanctions on Iran

Since the early 1990s, Gulf nations have been turning to the PPP model to attract international investors, to energise the private sector and to develop local talent.  (Shutterstock)
August 8th, 2018 - 07:48 GMT

Report: Public-Private-Partnerships to Revitalize Economic Development in GCC

Prince Alwaleed bin Talal said he made the Snapchat investment in May. (AFP)
August 8th, 2018 - 07:42 GMT

Alwaleed Bin Talal Signs $250 Million Deal With Snapchat

Canada's Prime Minister Justin Trudeau's government is asking the UK and UAE to mediate in his country's diplomatic rift with Saudi Arabia. (Shutterstock)
August 8th, 2018 - 07:36 GMT

Canada to Ask UAE, UK Help in Defusing Dispute With Saudi Arabia

This may also include fragile items such as television or other electronic goods.
August 8th, 2018 - 07:31 GMT

Oman to Charge Extra Fees for 'Special' Luggage

Sanctions against Iran were reimposed by Donald Trump in an executive order this week. (
August 8th, 2018 - 06:43 GMT

Trump Asks Countries to Pick a Side; Business With Iran or US

Lebanese economy situation is fragile and needs a new phase of reforms. (Shutterstock)
August 7th, 2018 - 10:43 GMT

Lebanese Pound Stable Despite Fragile Economy

Egypt’s foreign reserves were $44.315 billion at the end of July, having climbed steadily since the securing of a $12 billion. (Shutterstock)
August 7th, 2018 - 10:38 GMT

Egypt's Foreign Debt Soars to $88.2 Billion

No charges are levied on the issuance of travel documents. (AFP)
August 7th, 2018 - 10:31 GMT

More Than 1,000 Pakistani Expats Avail UAE Amnesty Services

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