Business / Middle East Business

Major UAE solar plant to go online before COP summit: energy firm 31 Jan 2023 - 06:58 pm

Abu Dhabi: One of the world's biggest solar plants will become fully operational this year in the oil-rich United Arab Emirates, months before...

Libya NOC says to sign $8 bn gas deal with ENI 25 Jan 2023 - 10:31 pm

Tripoli: Libya's National Oil Corporation said on Wednesday it had reached an $8-billion deal with Italian energy giant ENI to develop offshore hydrocarbon...

Saudi low-cost carrier Flynas eyes expansion with overseas units 15 Jan 2023 - 07:43 pm

Saudi Arabia-based carrier Flynas said its board approved establishing local units in two more countries as part of a plan to become the...

Crisis-hit Egypt's currency halved in value since March 11 Jan 2023 - 05:47 pm

Cairo: The Egyptian pound was trading Wednesday at half its value from March after the central bank intervened for a third time as...

Dubai announces plan to 'double' economy in next decade 04 Jan 2023 - 05:50 pm

Dubai: Dubai announced on Wednesday a bold plan aiming to boost foreign trade and investment in the United Arab Emirates' financial hub and...

Iran replaces central bank chief as rial hits record low 29 Dec 2022 - 07:54 pm

Tehran: Sanctions-hit Iran replaced the head of the central bank on Thursday, state media reported, as the value of the local currency plunged...

Gold price soars in Egypt as local currency falls 27 Dec 2022 - 05:23 pm

CAIRO: The price of gold in Egypt has risen to unprecedented highs as nervous savers seek refuge from a weakening currency and some...

Lebanese banks battered by meltdown struggle to survive 24 Dec 2022 - 02:38 pm

BEIRUT:Lebanon’s once burgeoning banking sector has been hard hit by the country’s historic economic meltdown. It has suffered staggering losses worth tens of...

Aramco, Total to build $11 billion Saudi petrochemical project 15 Dec 2022 - 05:54 pm

Saudi Aramco and TotalEnergies SE took a final investment decision on an $11 billion petrochemical project in Saudi Arabia, betting that demand for...

Sudan inks $6 billion UAE deal for new Red Sea port 13 Dec 2022 - 07:49 pm

Khartoum: Sudan signed on Tuesday an initial $6 billion deal led by United Arab Emirates' AD Ports Group and Invictus Investment to build...

Saudi’s MCIT inks MoU with Huawei to boost digital economy 13 Dec 2022 - 10:02 am

Doha: The Saudi Ministry of Communications and Information Technology (MCIT) and Huawei signed a memorandum of understanding to enhance cooperation in the field...

Saudi Arabia eyes tripling industrial domestic product next year 13 Dec 2022 - 12:11 am

Riyadh: Saudi Vice Minister of Industry and Mineral Resources Osama bin Abdulaziz Al Zamil said that the year 2023 will witness a powerful...

TotalEnergies announces Lebanon gas field exploration in 2023 12 Dec 2022 - 11:50 pm

Beirut: The French company TotalEnergies announced that it will start exploration within the framework of its offshore gas project in Block No. 9...

Saudi Arabia says $50 billion investments agreed at China Summit 11 Dec 2022 - 06:33 pm

About $50 billion of investment agreements were signed during the China summit held in Saudi Arabia last week, the kingdom’s investment minister said,...

Turkish Airlines wins Europe’s Best Design Airline Award 09 Dec 2022 - 09:20 am

Doha: With its Istanbul Airport customer touch points (lounge, check-in islands, ticket services offices, etc.) and in-flight experience designs (new Business and Economy...

Saudi Arabia announces plans for six-runway hub airport in Riyadh 28 Nov 2022 - 05:09 pm

RIYADH: Saudi Crown Prince and Prime Minister HRH Mohammed bin Salman bin Abdulaziz Al-Saud announced on Monday plans to transform Riyadh airport into...

Jordan's economy posts faster growth despite global turmoil: IMF 15 Nov 2022 - 09:33 pm

AMMAN: Jordan's growth has quickened in 2022 despite global economic turbulence, driven by strong progress in IMF-backed structural reforms that have cushioned the...

Bahrain announces two new natural gas discoveries 08 Nov 2022 - 05:42 pm

DUBAI: Bahrain has announced two natural gas discoveries in the Al-Joubah and Al-Jawf reservoirs, state news agency BNA said on Tuesday. Nasser bin...