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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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Bankers estimate that the value of the acquisition of HSBC Lebanon will range between $90 million to $100 million. (Facebook)
June 5th, 2016 - 11:00 GMT

HSBC Lebanon acquisition delayed by staff negotiations

Mums@Work is a venture that has spotted a gap in the UAE market for short term employment opportunities for women returning to work or accompanying expat spouses. (File photo)
June 5th, 2016 - 10:00 GMT

UAE employers eye part-timers in squeezed economy

Qatar Airways have always denied the allegations against them as have Emirates and Etihad Airways, the Gulf’s two other carriers the US airlines want blocked. (File photo)
June 5th, 2016 - 09:00 GMT

Qatar Airways pushes through with US expansion despite ongoing row

The French economist's bestseller 'Capital in the Twenty First Century' was awarded the Financial Times and Mckinsey’s 2014 Business Book of the Year Award. (EcoPolitica.org)
June 5th, 2016 - 08:00 GMT

Lack of transparency about income and wealth in MENA allows for bad policies: PIketty

Dubai is focussing heavily on developing its renewable energy capabilities, specifically in solar power.  (File photo)
June 5th, 2016 - 06:00 GMT

Dubai to build world's largest concentrated solar power project

International carriers can stop selling tickets in Egypt, only selling through their websites where people pay with a  foreign exchange credit card, but this would reduce traffic. (File photo)
June 5th, 2016 - 05:00 GMT

Egypt's failure to pay airlines $291M puts country on 'a slippery slope': IATA

Mohammed Sanusi Barkindo from Nigeria (center) takes over as Secretary General from the start of August. (Nigeria Newsdesk)
June 5th, 2016 - 04:40 GMT

OPEC elects new head, downplays meeting deadlock

Workers were incensed that the firm did not pay them despite the Group reportedly receiving a $667M loan from Saudi British Bank and National Arab Bank. (Samaa.tv)
June 2nd, 2016 - 12:02 GMT

Binladin Group reportedly selling assets as workers continue to protest unpaid salaries

Uber serves more than 450 cities in more than 70 countries, and has previously attracted investment from Qatar, whose sovereign wealth fund took a stake in the company in 2014. (File photo)
June 2nd, 2016 - 11:31 GMT

Uber gets a $3.5B Saudi injection

Emirates NBD has already launched major digital banking initiatives in support of the country’s ‘smart city’ vision.  (File photo)
June 2nd, 2016 - 11:00 GMT

Emirates NBD to target millennials with $136M digital strategy

Arabtec's vice-chairman hopes the company's restructuring process will help improve the financial performance. (Ventures On Site)
June 2nd, 2016 - 10:00 GMT

Arabtec dips into reserves to stem losses

The report said that 91 percent of the 2 billion tons of rubble left by the war have been cleared. (AFP/File)
June 2nd, 2016 - 09:00 GMT

Gaza reconstruction: 60 percent funding shortfall in promised donations

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