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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 OPEC’s report also announced Iran’s oil output based on direct communication. (Shutterstock)
August 16th, 2018 - 08:50 GMT

OPEC: Iran Oil Output Hits 3.806 Million bpd in July

Debt issuance in the GCC would be led by Saudi Arabia's $16 billion. (Shutterstock)
August 16th, 2018 - 08:43 GMT

GCC Sovereign Debt Issuance to Exceed $50 Billion

Work permits were cancelled after confirming the relevant information with Ministry of Interior. (Shutterstock)
August 16th, 2018 - 08:37 GMT

More Than 50,000 Work Permits Cancelled in Kuwait

Qatar's growth outlook for 2018 has improved, driven by increasingly broad-based global economic recovery. (Shutterstock)
August 16th, 2018 - 08:03 GMT

Report: Qatar's Economy to Grow 3 Percent Despite Economic Blockade

Cryptocurrencies are not fiat currency as fiat currencies are part of a centralised system. (Shutterstock)
August 16th, 2018 - 07:58 GMT

Are Cryptocurrencies Shari'ah Compliant?

Qatar defied US President Donald Trump on Wednesday and promised to plough $15 billion into Turkish financial markets and banks. (Shutterstock)
August 16th, 2018 - 07:55 GMT

Qatar Rescues Turkey With $15 Billion

Recent developments in US-Turkey relations risk an alliance that has proven its value over decades. (Shutterstock)
August 16th, 2018 - 07:42 GMT

US Official: Tariffs on Turkish Imports ‘Pose Serious Risks’

The ministers met in Manama to review a comprehensive fiscal balance programme. (Shutterstock)
August 16th, 2018 - 07:30 GMT

UAE, KSA, Kuwait to Enhance Bahrain Fiscal Stability

Beyond its financial aspect, there is currently a psychological war between the two countries through high-level rhetoric. (Shutterstock)
August 15th, 2018 - 09:15 GMT

Experts Disagree With Erdogan Latest Move to Overcome Economic Challenges

Saudi Arabia has committed to significant changes to its economy and society as part of its Vision 2030 reform plan. (Shutterstock)
August 15th, 2018 - 09:11 GMT

Report: Arab Countries Need to Focus on Entrepreneurial Potential and Youth


The trade surplus in first quarter rose to KD3.4 billion from KD2.3 billion the previous quarter. (Shutterstock)
August 15th, 2018 - 08:30 GMT

Report: Kuwait Current Account Hits $5.58 Billion

Saudi Arabia crown prince Mohammed bin Salman. (AFP)
August 15th, 2018 - 08:25 GMT

Saudi Arabia Gears for a Future Without Oil

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