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Turkey plans first overseas deepwater energy exploration in Somali waters
January 2nd, 2026 - 05:09 GMT
Osama Ali

Osama Ali

Turkey plans first overseas deepwater energy exploration in Somali waters

ALBAWABA - Turkey is set to embark on its inaugural overseas deepwater energy exploration, with a drilling vessel slated for deployment in Somali waters next month, as revealed by Turkish Energy Minister Alparslan Bayraktar. Bayraktar announced that the drilling ship Cagri Bey will head to Somalia in February to commence offshore exploration. The operation will concentrate on maritime zones along the Somali coast, though specifics regarding potential reserves or the ...
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Bahrain and Oman have been exceptions in the GCC as more active issuers of sukuk and conventional bonds. (Shutterstock)
July 4th, 2016 - 11:31 GMT

GCC sukuk issuance likely to remain muted in 2016: S&P

Saudi Arabia is strongly pushing to deal with the high unemployment rate among citizens. (File photo)
July 4th, 2016 - 10:00 GMT

Saudization: Foreign firms must employ Saudis in leadership positions

Retailer Rami Levy, who has sold milk cheaper than water and a kilo of chicken for 10 cents, was confident prices in his mall would be lower than those in Ramallah. (Olive Oil Times)
July 4th, 2016 - 09:00 GMT

First Israeli-Palestinian mall faces boycott

Egypt has suffered from a shortage of dollars in the banking system to pay for crucial imports since a 2011 uprising drove away tourists and foreign investors, crucial sources of hard currency. (Shutterstock/Ververidis Vasilis)
July 4th, 2016 - 08:00 GMT

Egypt's Central Bank claims no change to debit card use abroad

Yemen's Central Bank fell under Houthi control in March. (Nabanews.net)
July 4th, 2016 - 07:28 GMT

IMF, oil deals hampered by Houthi control of Central Bank: Yemeni PM

BHS entered administration in April after accruing debts of more than £1bn ($1.4bn) and failing to find a buyer. (AFP/Carl De Souza)
July 4th, 2016 - 06:00 GMT

Qatar's Al Mana acquires ailing BHS retail franchise

The actual budget deficit for the 2015/2016 fiscal year which ended on March 31 is KD 5.5 billion, the first actual deficit to be posted by Kuwait after 16 years of surpluses. (File photo)
July 4th, 2016 - 05:15 GMT

Kuwait may borrow up to $16.5B to finance budget deficit

A source within the CBE said the total dues repaid by the central bank to Qatar in the past two years amounted to $7 billion. (File photo)
July 4th, 2016 - 04:20 GMT

Payback time: Egypt settles billion-dollar debt with Qatar

Muslim pilgrims gather to perform noon and afternoon prayers at Namira Mosque in Mount Arafat, southeast of the Saudi holy city of Mecca. (AFP Photo/Mohammed Al-Shaikh)
July 3rd, 2016 - 02:00 GMT

Saudi tourism commission estimates 140 million visitors by 2020

License holders will be required to utilize only best practice technology that reduces the environmental impact of natural gas and oil exploration and production operations. (File photo)
July 3rd, 2016 - 01:00 GMT

Israel to award 60 new oil and gas licenses for offshore exploration

The merger will create an entity with Dh642 billion in total assets, making the combined bank the largest in the Middle East and North Africa.. (Aisbrandlab.com)
July 3rd, 2016 - 11:00 GMT

UAE's $175B NBAD, FGB merger gets green light from board members

Investigations were launched amid reports that executives at some state-owned firms were earning more than 50 times the base government salary. (File photo)
July 3rd, 2016 - 10:00 GMT

Mass resignations at Iran's sovereign wealth fund after 'fat cat' salary investigations

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