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Oil prices
January 7th, 2026 - 09:28 GMT
Sally Shakkour

Sally Shakkour

Oil prices drop after Venezuela agrees to send crude to the US

ALBAWABA - Oil prices reported a slight decrease on Wednesday after U.S. President Donald Trump announced that the U.S. had reached an agreement to import $2 billion worth of crude oil from Venezuela, a move expected to boost supplies to the world's largest oil consumer. Trump said on Tuesday night that Venezuela will be sending between 30 million to 50 million barrels of oil to Washington, to be sold at ...
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If Egypt's local wheat procurement numbers were misrepresented, it may have to spend more on foreign wheat purchases to meet local demand. (Shutterstock)
August 15th, 2016 - 07:00 GMT

Egypt's mega project thrown into disarray over wheat scandal

Smart Dubai has completed the first phase of its city transformation. (Shutterstock)
August 15th, 2016 - 06:00 GMT

Gitex Technology Week to shine spotlight on potential $1.6T in smart city investments

The divestment is part of Dubai Financial Group's restructuring plan. (Aswat Masriya)
August 15th, 2016 - 05:00 GMT

Dubai Financial Group sells share in Egyptian investment bank EFG Hermes

The defendants include six Saudis, two Pakistanis and one defendant each from Jordan, the Philippines, Canada, Palestine, Egypt and the UAE. (AFP/File)
August 15th, 2016 - 04:00 GMT

Mecca crane collapse case: Criminal court gives defendants 45 days to counter charges

The Labor Ministry's eventual goal will be to recruit only skilled foreign workers in various business sectors. (Shutterstock)
August 14th, 2016 - 01:14 GMT

Saudization: Labor Ministry to unveil six new projects

Saudis’ spending abroad was the highest among all the Gulf states, and topped that of all Arab countries.  (AFP/Fayez Nureldine)
August 14th, 2016 - 12:14 GMT

Saudi tourists among top 20 of highest spenders abroad

Many of the companies looking at Eni's Zohr are either already active in Egypt or have recently landed bordering acreage in Cyprus, such as Exxon Mobil and Total.  (Eni)
August 14th, 2016 - 09:00 GMT

Eni mulls sale of 20 percent stake in Egypt's giant Zohr gas field

(Flickr/Fabio Achilli)
August 14th, 2016 - 08:00 GMT

Catch that cab: Dubai to add 2000 taxis to fleet over next five years

The riyal’s exchange rate  is currently at 3.75 against the U.S. dollar according to the Central Bank's website. (File photo)
August 14th, 2016 - 07:00 GMT

Saudi Arabia reaffirms commitment to dollar peg

Austerity measures were inevitable with or without the IMF loan. (File photo)
August 14th, 2016 - 06:00 GMT

Egypt's $12B IMF loan: Long-term benefits disputed

Bollywood Parks Dubai, Motiongate Dubai, and Legoland and Legoland Water Park are due to open in Dubai on October 31, 2016. (Shortlist Dubai)
August 14th, 2016 - 05:00 GMT

Dubai Parks and Resorts’ losses widen as expansion plans near fruition

Operation Tidal Wave II has focused specifically on supply lines tied to the illicit movement of oil said to be financing regional terrorism operations. (Twitter/KR Security Council)
August 13th, 2016 - 11:05 GMT

Senior Daesh oil commander killed by Kurdish, US forces

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