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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 bill is yet to be approved by the parliament’s upper house, which is expected to hold a similar session later this week. (Shutterstock)
October 8th, 2018 - 05:48 GMT

VAT Law Draft Finds Favour With Bahraini MPs

Bitcoin’s potential to replace fiat currencies as a way of doing business brought about a wave of excitement in 2013 and 2014, leading to a rally in its price that hit $19,511 in mid-December. (Shutterstock)
October 8th, 2018 - 05:40 GMT

With Volatility at 17-Month Low, Has Bitcoin Reached a Tulip Fever Moment?

The crown prince, facing US pressure to tame surging oil prices, also said that the Kingdom is fulfilling promises to make up for Iranian crude supplies lost to American sanctions. (Shutterstock)
October 8th, 2018 - 05:33 GMT

Bin Salman's Aramco IPO Confirmation Falls Deaf on Saudi and GCC Stocks

It was unclear whether the latest devaluation was part of a move to float the pound as recommended by the International Monetary Fund (IMF) to curb the wide disparity between the official and unofficial rates that had severely impacted the African country's economy. (Shutterstock)
October 8th, 2018 - 05:28 GMT

Amidst Soaring Food Prices, Sudan's Currency Rate Slashed at 47.5 Against the Dollar

ADX CEO Rashid Al Blooshi, and Aldar CEO Talal Al Dhiyebi rang the bell to mark the dual listing of the sukuk. (Shutterstock)
October 8th, 2018 - 05:23 GMT

ADX Welcomes Historic Aldar Investments Debut With $500 Million Sukuk Listing

"It is important for us to present here in Abu Dhabi, because many important things are happening, and the opening of a representative office in the UAE, is the result of the long strategic partnership with the UAE Space Agency, and Mohammed bin Rashid Space Centre, MBRSC," (AFP)
October 8th, 2018 - 05:14 GMT

France Wants to Have a Space Odyssey With the UAE

Cementing its commitment to becoming one of the smartest cities in the world, the digital initiative has gone one step further following 2017's debut launch of 'A Day Without Service Centres', by extending it to run for a full week. (Shutterstock)
October 8th, 2018 - 05:07 GMT

40 Dubai Public Departments Go Exclusively Digital in Bid to Promote Smart Government

Prince Mohammed visited Washington in March where the president hailed the links between the two allies. (AFP)
October 7th, 2018 - 07:34 GMT

Bin Salman Answers Trumps' Threats With a $400 Billion Ticket

Erdogan urged Turks on Tuesday to report stores that had imposed unusual price hikes during the currency crisis, and said authorities would raid those businesses if necessary. (AFP)
October 7th, 2018 - 07:20 GMT

Erdogan to Fine ‘Opportunists’ Taking Advantage of Volatile Foreign Exchange Rate

Gulf Arab allies will pledge $10 billion in aid to Bahrain and finalise $2.5 billion in assistance for Jordan on Thursday, in an effort to stabilise their fragile finances through years of planned economic reforms. (Shutterstock)
October 7th, 2018 - 07:12 GMT

Bahrain, Jordan Receive Billions in Aid From Gulf Neighbours

The Aramco IPO would be a seismic event for financial markets. Prince Mohammed said he hoped to raise a record $100 billion by selling a five per cent stake. (Shutterstock)
October 7th, 2018 - 07:05 GMT

Bin Salman Sets 2021 for Aramco IPO Listing

Experts say the pipeline would allow the kingdom not to be constrained to the Strait of Hormuz or the Bab el-Mandeb Strait, both strategic choke points that affect its current oil shipping routes. (Shutterstock)
October 7th, 2018 - 06:09 GMT

Yemen Accuses Saudi of Oil Theft

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