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July 30th, 2026 - 09:20 GMT

P. Choiaqo

Shell records more than double profits as war rages in the Middle East

ALBAWABA - British oil and gas company Shell has seen its profits more than double compared to the same period last year as oil prices surge amid Strait of Hormuz conflict between the U.S. and Iran. The company’s net profit hit $9.84 billion dollars in the second quarter of the year after Brent oil prices jumped from $60 a barrel in January to $114 in early May at the peak ...

The antiquities included oil lamps, pottery, glass jars and statues dating back to various eras of Jordan’s history. (Shutterstock)

November 29th, 2018 - 05:13 GMT

Jordan Retains a Plethora of Trafficked Artefacts From Canada

The UAE government further developed purposeful plans to monitor future changes in the country's economy and the infrastructure dynamics through adopting the "UAE’s Annual Economic Outlook Report" initiative. (Shutterstock)

November 29th, 2018 - 05:08 GMT

UAE Makes Huge Strides for Attracting Business With 6 New Initiatives

Coming into force by December 1st, the two resolutions are part of the Abu Dhabi Government Accelerators Programme ‘Ghadan 21’ which is aimed to enhance the competitiveness of Abu Dhabi in business, investment, society, knowledge innovation, and lifestyle. (Shutterstock)

November 29th, 2018 - 05:02 GMT

Abu Dhabi Announces Two-Year Fee Exemption for New Licenses

"We have lots of exchanges with other states, including South Korea, China and India, and we can import goods in lieu for crude exports to them," Hemmati told reporters on the sidelines of a cabinet meeting in Tehran. (Shutterstock)

November 29th, 2018 - 04:56 GMT

China Has Found a Way to Resolve Oil Payments to Iran. Will Other Countries Follow Suit?

Iranian Foreign Minister Mohammad Javad Zarif (L) speaks during a press conference with Iraqi Foreign Minister Ibrahim al-Jaafari in the Iraqi capital Baghdad on February 24, 2015. (AFP)

November 29th, 2018 - 04:49 GMT

US Medicine Sanctions on Iran Are Illegal, but Still Imposed

A maritime demarcation accord signed with Saudi Arabia in 2016 has allowed the country to embark on oil and gas exploration for the first time in the Red Sea. (Shutterstock)

November 29th, 2018 - 04:43 GMT

Egypt Launches Bid to Dig for Oil and Gas in Red Sea

Electrical interconnection lines between Egypt and Saudi Arabia are scheduled to begin operation in the beginning of 2021, with a capacity of 3,000 MW. (Shutterstock)

November 29th, 2018 - 04:39 GMT

Saudi Invests $ 2 Billion in Egypt's New Power Plant

Al-Saraj said that Saudi Vision 2030 was motivating students, encouraging them to create their own businesses. (Shutterstock)

November 29th, 2018 - 04:33 GMT

Saudi Banks on Its Students to Transform Its Economy

The 450 km inter-city transport system is envisioned to improve pilgrim comfort and lead to a reduction in the number of traffic accidents. (SPA)

November 29th, 2018 - 04:27 GMT

Saudi's High-Speed Railway Is Still on Vision 2030 Course

“The enrichment of the Hajj and Umrah experience with historic and entertainment sites is an important goal that we seek to achieve through the unique efforts of entrepreneurs.” (Shutterstock)

November 29th, 2018 - 04:22 GMT

Saudi Encourages Entrepreneurs and Private Sector to Contribute to Hajj and Umrah Services

A Saudi-sponsored militiaman loyal to former Yemeni president Abd Rabbuh Mansur Hadi is pictured in front of the May 22 Hospital on the eastern outskirts of port city of Hudaydah, Yemen, on November 15, 2018. (Photo by AFP)

November 29th, 2018 - 04:18 GMT

UN Sounds Alarm With Deteriorating Imports at Yemen’s Salvation Port

Jordan relies on Egyptian gas for 80% of its electricity generation, with the other 20% largely imported from Saudi Arabia and Iraq. (Shutterstock)

November 28th, 2018 - 06:52 GMT

Egypt-Jordan Gas Supply to Continue in January