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Shell company building
July 30th, 2026 - 09:20 GMT
P. Choiaqo

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 ...
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The Algerian state-owned Sonatrach developed a strategic vision for 2030 to become one of the world's top five oil corporations, Guitouni pointed out. (Shutterstock)
November 1st, 2018 - 03:20 GMT

Algeria Taps Into Shale Gas Reserves, With Production Slated Within Five Years

The U.S. reimposed other non-oil sanctions in August, but next week's tranche is expected to have the greatest economic effect. (Shutterstock)
November 1st, 2018 - 03:14 GMT

US May Grant Waivers as Iran Sanctions Loom

As the U.S. financial system increasingly becomes an extension of Trump’s national-security policy, European policymakers have begun to lament the “tyranny” of the dollar. (Shutterstock)
November 1st, 2018 - 03:09 GMT

How Trump Is Using the Dollar to Reshape the Middle East

The center has also provided health and food aid to the Yemeni people. (SPA)
October 31st, 2018 - 09:24 GMT

Saudi's KSRelief Donates $1.9 Billion in International Aid

South Korea Joins Turkey in Seeking Iran Waiver Ahead of Sanctions. (Shutterstock)
October 31st, 2018 - 09:19 GMT

South Korea Joins Turkey in Seeking Iran Waiver Ahead of Sanctions

The delay has held up economic reforms that have been put off for years but are now seen as more pressing than ever. (Shutterstock)
October 31st, 2018 - 09:14 GMT

With Mounting Economic Pressure, Lebanon Might Succeed in Forming a Government

The Gulf's six oil-exporting countries originally agreed to introduce a five per cent value-added-tax (VAT) at the start of 2018. (Shutterstock)
October 31st, 2018 - 09:11 GMT

Kuwait Will Not Abandon Economic Reforms Despite Higher Oil Prices

Every expatriate worker moving from private to public sector must obtain approval of the Civil Service Commission based on relevant regulations. (Shutterstock)
October 31st, 2018 - 09:02 GMT

In Kuwait, New Rules to Be Announced for Transfer of Expat Workers Visa

Over the five-year period, employment potential in the SME sector is expected to touch 22 million from the current 17 million in GCC. (Shutterstock)
October 31st, 2018 - 08:56 GMT

SMEs in GCC to Hit $920 Billion in Five Years

The new law will reflect positively on advancing the UAE's rankings across global competitive indices. (Shutterstock)
October 31st, 2018 - 08:42 GMT

New FDI Law to Advance UAE's Rankings Across Global Competitive Indices

The emirate is introducing new efforts and initiatives to facilitate trade in halal economy sub-sectors. (Shutterstock)
October 31st, 2018 - 08:34 GMT

Dubai Nabs Top Position as Islamic Economy Hub

By 2030, Saudi Arabia is expected to host 2,600 cinema screens that will entertain its growing population. (Shutterstock)
October 31st, 2018 - 08:24 GMT

2,600 Cinema Screens to Add $1.5 Billion Annual Revenue to Saudi Arabia by 2030

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